PENGARUH GOOD CORPORATE GOVERNANCE DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN

Abstract

This research aims to examine the influence of Good Corporate Governance and dividend policy on corporate value. In this study Good Corporate Governance uses managerial ownership, institutional ownership, independent commissioner, audit committee, and dividend policy measured using dividend payout ratio. Sources of data from this research came from the Indonesia Stock Exchange (IDX) during the period of 2014 to 2016. The sample of research obtained is 45 manufacturing companies determined through purposive sampling. Methods of data analysis in this research by using multiple linear regression analysis. The results of this research indicates dividend policy influenced the value of the company. Institutional ownership has no influence on the company value, since institutional ownership tends to side with management and self-interest. Managerial ownership does not influenced the company value, due to significant shareholder ownership by managers that managers have multiple roles as owners and managers which is used for the benefit of the individual. Audit Committee influences the company value. Independent commissioners have no influence on the company value. Due to the possibility of independent commissioners within the company only as a formality complied with the regulations of the Indonesia Stock Exchange.
Keywords: Good Corporate Governance, devidend policy, company value.