CORPORATE GOVERNANCE DAN STRUKTUR KEPEMILIKAN TERHADAP MANAJEMEN LABA DAN KINERJA KEUANGAN
Lusye Corvanty Kumaat
Politeknik Negeri Manado
Kampus Politeknik Kelurahan Buha Manado, 85254
Korespondensi dengan Penulis:
Lusye Corvanty Kumaat: Telp. +62 431 815 332
The research was aimed to examine the effect of corporate governance and ownership structure on profit management and financial performance. Corporate governance mechanisms that were used in this research were managerial ownership, independent commissioner and audit committee. Ownership structure that was used was concentrated ownership structure. Research was conducted on the manufacturing companies that were listed at Indonesia Stock Exchange in period of 2007-2011. Sampling technique was purposive sampling. Hypothesis testing tool was multiple regression. Earning management in this research was measured using Modified Jones Models, while financial performance was measured by cash flow return on assets (CFROA). Result of research indicated that managerial ownership, independent commissioner, and ownership structure was positively influencing profit management. Independent commissioner and ownership structure positively influenced financial performance, while managerial ownership negatively influenced financial performance. Audit committee was not influencing earning management and financial performance, and earning management was not proved as influencing financial performance.
Key words: corporate governance, earning management, financial performance, ownership structure