PENGARUH GOOD CORPORATE GOVERNANCE DAN RETURN ON ASSETS TERHADAP NILAI PERUSAHAAN LQ 45

Abstract

One of the company goal is to increase the company value that will influenced the prosperity of the shareholders. However, in its application there is no denying that there is a difference of interest between management and shareholders that lead to agency conflict. Therefore, the implementation of good corporate governance and return on assets in the company becomes important in order to minimize agency conflict. This research aims to examine the influence of Good Corporate Governance (managerial ownership, institutional ownership, board of directors, independent commissioner, and audit committee) and Return On Assets to LQ 45 company value. Population in this research is LQ 45 Company which is listed in Indonesia Stock Exchange (IDX) in 2013-2016 period. Total sample of research is 25 companies determined by purposive sampling. The analytical method that been used is multiple linear regression analysis with using SPSS 20 application tool. The results of this research indicates that: (1) managerial ownership has no influence to the company value; (2) institutional ownership positively influenced to the company value; (3) the board of directors positively influenced the company value; (4) an independent commissioner has no influence to the company value; (5) audit committee has no influence to the company value; (6) return on assets have a positive influence to the company value.
Keywords: Good corporate governance, return on assets, company value