PENGARUH LEVERAGE DAN CORPORATE GOVERNANCE TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN MANUFAKTUR

Abstract

This research aims to examine the influence of firm characteristics proxied by Leverage and Good Corporate Governance mechanisms that are proxied with Institutional Ownership, Managerial Ownership, Independent Commissioners and Audit Committee through annual financial statements prepared by manufacturing companies which listed in the Indonesia Stock Exchange. The population in this research is obtained by using judgment sampling method at manufacturing company which listed in Indonesia Stock Exchange (BEI) during period 2012-2016 period and based on predetermined criterion, the sample of 13 manufacturing companies is obtained. The analysis method used is multiple linear regression analysis using SPSS (Statistical Product and Service Solutions) application tool. The results showed that leverage has negative and insignificant influence on the firm value with regression coefficient of -0.474 and significance level of 0.268. While variable of managerial ownership have positive influence, but not significant to the company value. Variables of institutional ownership, independent commissioners and audit committees have a significant influence on firm value. Simultaneously, the independent variable has a significant influence on the dependent variable with a significance level of 0.002.
Keywords: leverage, good corporate governance, firm value.