PENGARUH MEKANISME CORPORATE GOVERNANCE TERHADAP FINANCIAL DISTRESS DENGAN PROFITABILITAS SEBAGAI VARIABEL MODERASI
DOI:
https://doi.org/10.51903/jiab.v5i1.1042Kata Kunci:
Corporate Governance, Profitability, Financial Distress, Agribusiness, Indonesia Stock Exchange. .Abstrak
This research investigates the influence of governance structures specifically board composition, audit committee presence, and the ratio of independent commissioners on the likelihood of financial distress within Indonesia's agribusiness sector, incorporating profitability as a moderating factor. The central concern of this study is the persistent threat of financial instability that may culminate in bankruptcy, thus underlining the necessity for robust organizational oversight. A quantitative method was applied, utilizing secondary data sourced from financial reports of agribusiness firms listed on the Indonesia Stock Exchange (IDX) during the 2020–2022 period. Analytical techniques employed include multiple linear regression and moderated regression analysis (MRA) to evaluate the interaction between profitability and governance elements. The findings reveal that both board size and audit committee activity exhibit a significant inverse relationship with financial distress, whereas independent commissioner representation lacks statistical impact. Moreover, profitability enhances the mitigating role of governance mechanisms against financial vulnerability. These insights affirm the relevance of strengthening internal governance and financial health as preventive measures against financial crises in the agribusiness industry
Referensi
Alivia, A. A. P. R., & Suaryana, I. G. N. A. (2020). Pengaruh good corporate governance terhadap financial distress dengan profitabilitas sebagai variabel moderasi. E-Jurnal Akuntansi, 30(6), 1564–1581. https://doi.org/10.24843/EJA.2020.v30.i06.p09
Astuti, R., & Aisjah, S. (2017). Pengaruh Struktur Tata Kelola terhadap Financial Distress. Jurnal Ilmu Manajemen.
Barney, J. B. (1991). Firm Resources and Sustained Competitive Advantage. Journal of Management.
Cahyani, I. G. A. D., & Lestari, N. W. R. (2020). Pengaruh komite audit, kepemilikan institusional, dan profitabilitas terhadap financial distress. E-Jurnal Akuntansi, 30(1), 89–105. https://doi.org/10.24843/EJA.2020.v30.i01.p07
Dewi, N. P., & Suputra, I. D. G. D. (2019). Pengaruh Good Corporate Governance terhadap Financial Distress. E-Jurnal Akuntansi Universitas Udayana.
Fadilah, I., & Wahyudi, S. (2019). Pengaruh profitabilitas, likuiditas, dan leverage terhadap financial distress. Diponegoro Journal of Accounting, 8(4), 1–12.
Fadillah, A., & Prabowo, M. A. (2021). Board of Directors’ Characteristics and Financial Distress in Indonesian Companies. Jurnal Akuntansi Multiparadigma.
Fitriani, A., & Putra, I. M. A. (2020). Profitabilitas dan Risiko Keuangan pada Perusahaan Publik di Indonesia. Jurnal Ilmiah Mahasiswa Akuntansi.
Ghozali, I. (2018). Aplikasi Analisis Multivariate dengan Program IBM SPSS 25. Semarang: Badan Penerbit Universitas Diponegoro.
Handayani, G. A. N. A., & Wirawati, N. G. P. (2019). Pengaruh good corporate governance, leverage, dan ukuran perusahaan pada financial distress. E-Jurnal Akuntansi, 27(2), 987–1013. https://doi.org/10.24843/EJA.2019.v27.i02.p25
Indrawati, N. K. T., & Darmayanti, N. P. A. (2020). Pengaruh good corporate governance dan profitabilitas terhadap financial distress. E-Jurnal Akuntansi, 30(6), 1624–1636. https://doi.org/10.24843/EJA.2020.v30.i06.p13
Pratiwi, I. A. A. S., & Sari, M. M. R. (2018). Pengaruh good corporate governance dan leverage terhadap financial distress. E-Jurnal Akuntansi, 25(1), 180–205. https://doi.org/10.24843/EJA.2018.v25.i01.p08
Putri, N. K. A., & Sari, M. M. R. (2019). Pengaruh ukuran dewan direksi, kepemilikan institusional, profitabilitas dan leverage terhadap financial distress. E-Jurnal Akuntansi, 27(1), 635–663. https://doi.org/10.24843/EJA.2019.v27.i01.p24
Rahmawati, S., & Suryanto, T. (2017). Financial Distress Prediction in Manufacturing Companies Using Altman Z-Score Model. Journal of Accounting and Strategic Finance, 1(2), 112–124.
Santosa, B., & Haryanto, E. (2020). Komite Audit dan Dampaknya terhadap Kinerja Keuangan Perusahaan. Jurnal Akuntansi dan Investasi.
Saputri, L., & Herawaty, V. (2021). Komite Audit dan Financial Distress: Peran Profitabilitas sebagai Variabel Moderasi. Jurnal Akuntansi, Keuangan dan Bisnis.
Sari, D. A., & Wirama, D. G. (2018). Pengaruh Komisaris Independen terhadap Kinerja Perusahaan dengan Financial Distress sebagai Variabel Intervening. E-Jurnal Akuntansi.
Sastriana, Y. (2016). Corporate Governance dan Financial Distress: Studi Empiris pada Perusahaan di Indonesia. Jurnal Dinamika Akuntansi dan Bisnis, 3(1), 1–12.
Sudana, I. M. (2015). Manajemen Keuangan Perusahaan. Jakarta: Erlangga.
Sugiyono. (2019). Metode Penelitian Kuantitatif, Kualitatif, dan R&D. Bandung: Alfabeta.
Trisnawati, N. D., & Handayani, S. R. (2020). Agency theory dan implikasinya terhadap praktik good corporate governance. Jurnal Akuntansi dan Auditing Indonesia, 24(1), 56–66.
Utami, W., & Prastiwi, A. (2020). Pengaruh Komite Audit terhadap Financial Distress dengan Ukuran Perusahaan sebagai Variabel Moderasi. Jurnal Ilmu dan Riset Akuntansi, 9(3), 1–15.
Wahyudin, A., & Solikhah, B. (2017). Corporate Governance Implementation Rating in Indonesia and Its Effects on Financial Performance. Corporate Governance: The International Journal of Business in Society, 17(2), 250–265. https://doi.org/10.1108/CG-02-2016-0032
Wibowo, A., & Dewi, A. C. (2020). Analisis resource-based theory terhadap strategi bersaing UMKM. Jurnal Ilmu Manajemen, 8(3), 217–230.
