Analisis Faktor pada Kinerja Keuangan dan Mediasi Struktur Modal pada Komite Audit di Perusahaan Property
DOI:
https://doi.org/10.26740/jim.v8n3.p796-812Keywords:
audit committee, DAR, DPR, financial performance, IOS.Abstract
Financial performance evaluates how successful the company has achieved business activities. The purpose of this research is to analyze if financial performance (ROA) affected by firm size, investment opportunity set (IOS), dividend (DPR), audit committee, and capital structure (DAR). Also the mediation effect of capital structure in the audit committee to financial performance. Population in this research is 56 property sector companies on BEI (www.idx.co.id). The sample in this research is 28 property companies (period 2014-2018) chosen by purposive sampling. This study uses a type of conclusive causal. The data analysis technique used path analysis with IBM SPSS 20. The results show that IOS has a significant effect on financial performance. Firm size, dividend & capital structure has a significant negative effect on financial performance. The audit committee does not significant to financial performance and capital structure (DAR). And also capital structure (DAR) does not mediate the audit committee to financial performance.
References
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Detthamrong, U., Chancharat, N., & Vithessonthi, C. (2017). Corporate governance, capital structure and firm performance: Evidence from Thailand. Research in International Business and Finance, 42(June), 689709. https://doi.org/10.1016/j.ribaf.2017.07.011
Dogan, M. (2013). Does Firm Size Affect The Firm Profitability¯? Evidence from Turkey. Research Journal of Finance and Accounting, 4(4), 5360.
Fachrudin, K. A. (2011). Analisis Pengaruh Struktur Modal, Ukuran Perusahaan, dan Agency Cost Terhadap Kinerja Perusahaan. Jurnal Akuntansi Dan Keuangan, 13(1), 3746. https://doi.org/10.9744/jak.13.1.37-46
Ghozali, I. (2016). Aplikasi Analisis Multivarate dengan Program IBM SPSS 23 (8th ed.). Semarang: Badan Penerbit Universitas Diponegoro.
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Horne, J. C. Van, & Wachowicz, J. M. (2012). Prinsip-Prinsip Manajemen Keuangan (Edisi 13). Jakarta: Salemba Empat.
Hutchinson, M., & Gul, F. A. (2004). Investment opportunity set, corporate governance practices and firm performance. Journal of Corporate Finance, 10(4), 595614. https://doi.org/10.1016/S0929-1199(03)00022-1
Hutchinson, M. R. (2005). An Analysis of the Association Between Firms Investment Opportunities, Board Composition, and Firm Performance. SSRN Electronic Journal, (03). https://doi.org/10.2139/ssrn.295483
Idx.co.id. (2020). Laporan Keuangan dan Tahunan. (https://www.idx.co.id/perusahaan-tercatat/laporan-keuangan-dan-tahunan), diakses pada 2 Januari 2020)
Jensen, M. J., & Meckling, Wi. H. (1976). Theory Of The Firm¯: Managerial Behaviour, Agency Cost and Ownership Structure. Journal of Financial Economics 5, 305360(10), 16711696. https://doi.org/10.1177/0018726718812602
Kautsar, A. (2019). Profitability is a Mediation Variable of Debt on Dividend Payout Indonesian Agriculture Companies.Scholars Journal of Economics, Business and Management 6(2):143-146. 10.21276/sjebm.2019.6.2.9
Kautsar, A. (2014). Analisis Pengaruh Firm Size, Der, Dan Sales Growth Terhadap Dividend Payout Ratio Dengan Roe Sebagai Variabel Intervening Pada Perusahaan Non Keuangan Yang Listed Di Bei Tahun 2009-2011. Jurnal Bisnis Strategi 23(2), 113. https://doi.org/10.14710/jbs.23.2.1-13
Kautsar, A., & Kusumaningrum, T. M. (2015). Analisis Pengaruh Good Coorporate Governance Terhadap Kinerja Perusahaan Yang Dimediasi Struktur Modal Pada Perusahaan Pertambangan Yang Listed Di BEI 2009-2012. Jurnal Riset Ekonomi Dan Manajemen, 15(1), 5975. http://dx.doi.org/10.17970/jrem.15.150105.ID
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Kanwal, M., & Hameed, S. (2017). The Relationship between Dividend Payout And Firm Financial Performance. Research in Business and Management, 4(1), 5. https://doi.org/10.5296/rbm.v4i1.10784
Kasmir. (2016). Analisis Laporan Keuangan. Jakarta: Rajawali Pers.
Kemenkeu.co.id. 2019. Pertumbuhan Ekonomi Indonesia Tahun 2018 Lebih Tinggi Dari Tahun 2017. (https://www.kemenkeu.go.id/publikasi/berita/pertumbuhan-ekonomi-indonesia-tahun-2018-lebih-tinggi-dari-tahun-2017/), diakses pada tanggal 5 Januari 2020)
Mrabet, R., & Boujjat, W. (2016). The Relationship Between Dividend Payments And Firm Performance: A Study Of Listed Companies In Morocco. European Scientific Journal, ESJ, 12(4), 469. https://doi.org/10.19044/esj.2016.v12n4p469
M, R., Waren, J. S., & Carl. (2010). Pengantar Akuntansi Adaptasi-Indonesia. Jakarta: Salemba Empat.
Malhotra, N. K. (2009). Riset Pemasaran Pendekatan Terapan Jilid 1 (4th ed.). Jakarta: Indeks.
Marinda, F., AR, M. D., & Saifi, M. (2014). Pengaruh Investment Opportunity Set (Ios) Dan Struktur Modal Terhadap Kinerja Keuangan (Studi Pada Perusahaan Sektor Property Dan Real Estate Yang Terdaftar Di Bursa Efek Indonesia Periode 2011-2013). Jurnal Administrasi Bisnis S1 Universitas Brawijaya, 14(1), 110.
Modigliani, F., & Miller, M. H. M. (1963). American Economic Association Corporate Income Taxes and the Cost of Capital¯: A Correction. American Economic Review, 53(3), 433443. https://doi.org/10.1126/science.151.3712.867-a
Myers, S. C. (1977). Determinants of Corporate Borrowing. Journal of Financial Economics 5, 147175(10), 20632072. https://doi.org/10.1253/circj.CJ-16-0846
Nuzil, N. R. (2017). Journal Knowledge Industrial Engineering ( JKIE ) Keywords¯: Dividend policy , the company s performance , and the value of the company. Journal Knowledge Industrial Engineering, 04(02), 4150.
Olawale, L., Bamidele, I., & Lawal, F. (2017). The effect of firm size on performance of firms in Nigeria El efecto tamaño en el rendimiento de las empresas nigerianas. The Ieb International Journal of Finance, 15(4), 221. https://doi.org/10.5605/IEB.15.4
Olayinka, O. M. (2019). Audit Committee and Firms Performance in Nigeria: Case Study of selected Nigerian Banks. International Journal of Scientific and Research Publications (IJSRP), 9(9), p9315. https://doi.org/10.29322/ijsrp.9.09.2019.p9315
Pervan, M., & Visic, J. (2012). Influence of Firm Size on Its Business Success. Croatian Operational Research Review, 3(1), 213223.
Pradhan, R. S., & Paudel, L. (2017). Impact of Fundamental Factors on Stock Price: A Case of Nepalese Commercial Banks. SSRN Electronic Journal, (April). https://doi.org/10.2139/ssrn.3044108
Purwohandoko, Nadia Asandimitra, Yuyun Isbanah, dan Achmad Kautsar. 2014. Dasar-Dasar Manajemen Keuangan. Surabaya : Unesa University Press.
Putra, A., & Badjra, I. (2015a). Pengaruh Leverage, Pertumbuhan Penjualan dan Ukuran Perusahaan Terhadap Profitabilitas. E-Jurnal Manajemen Universitas Udayana, 4(7), 20522067.
Putra, A., & Badjra, I. (2015b). Pengaruh Leverage, Pertumbuhan Penjualan dan Ukuran Perusahaan Terhadap Profitabilitas. E-Jurnal Manajemen Universitas Udayana, 4(7), 249411.
S, N. (2016). The Impact of Capital Structure on Financial Performance of the Firms: Evidence From Borsa Istanbul. Journal of Business & Financial Affairs, 5(2), 58. https://doi.org/10.4172/2167-0234.1000173
Sanjabi, M., & Jamshidinavid, B. (2017). The Relationship between Corporate Performance, Investment Decisions, and Investment Opportunities: Evidence from Tehran Stock Exchange. Journal of Economic & Management Perspectives, 11(4), 481485. Retrieved from http://www.econ-society.org
Sanjaya, S., & Rizky, M. F. (2018). Analisis Profitabilitas Dalam Menilai Kinerja Keuangan Pada PT. Taspen (Persero) Medan. Kitabah, 2(2), 16891699. https://doi.org/10.1017/CBO9781107415324.004
Sekaran, U. (2011). Metode Penelitian Untuk Bisnis. Jakarta: Salemba Empat.
Simatupang, P. I. A. N. (2019). Pengaruh Good Corporate Governance Terhadap Kinerja Keuangan Perusahaan Yang Di Mediasi Oleh Struktur Modal Dan Kebijakan Dividen Pada Perusahaan Manufaktur Yang Terdaftar Di BEI Pada Periode 2014-2016. Al-Iqtishad - Jurnal Ilmu Ekonomi Syariah, HG1-9999 F.
Sudana, I. M. (2015). Manajemen Keuangan Perusahaan (Edisi Kedu). Jakarta: Erlangga.
Sugiyono. (2016). Metode Penelitian Pendidikan Pendekatan Kuantitatif, Kualitatif, dan R & D. Bandung: Alfabeta.
Tarus, D. K., & Ayabei, E. (2016). Board composition and capital structure: evidence from Kenya. Management Research Review, 39(9), 10561079. https://doi.org/10.1108/MRR-01-2015-0019
Tornyeva, K. (2012). Corporate Governance and Firm Performance¯: Evidence from the Insurance Sector of Ghana. 4(13), 95113.
Tornyeva, K., & Wereko, T. (2012). Corporate Governance and Firm Performance¯: Evidence from the Insurance Sector of Ghana. European Journal of Business and Management, 4(13), 95113.
Tunggal, W. S. P., & Fachrurrozie. (2014). Accounting Analysis Journal. Accounting Analysis Journal, 3(4), 457465.
Waworuntu, S. R., Tjahjana, K. A. N. F., & Rusmanto, T. (2017). The Effect of Corporate Governance on Firms Capital Structure of Listed Companies in Sri Lanka. Journal of Competitiveness, 9(2), 1933. https://doi.org/10.7441/joc.2017.02.02
Yuliani, Fuadah, L., & Thamrin, K. H. (2018). Pengaruh Mediasi Bauran Pendanaan Terhadap Hubungan Set Peluang Investasi dan Profitabilitas Abstrak. Jurnal Bisnis Dan Manajemen, 2(1), 5667.
Arikunto, S. (2006). Prosedur Penelitian¯: Suatu Pendekatan Praktik. Jakarta: PT Rineka CIpta.
Asmara, C. G. (2018). Kondisi Perekonomian Indonesia 2018 Menurut Sri Mulyani. cnbc.com (https://www.cnbcindonesia.com/news/20180108191250-4-929/kondisi-perekonomian-indonesia-2018-menurut-sri-mulyani, diakses pada 5 Januari 2020)
Brigham, E. F., & Houston. (2010). Fundamental of Financial Management¯: Dasar-Dasar Manajemen Keuangan (Edisi 10). Jakarta: Salemba Empat.
Detthamrong, U., Chancharat, N., & Vithessonthi, C. (2017). Corporate governance, capital structure and firm performance: Evidence from Thailand. Research in International Business and Finance, 42(June), 689709. https://doi.org/10.1016/j.ribaf.2017.07.011
Dogan, M. (2013). Does Firm Size Affect The Firm Profitability¯? Evidence from Turkey. Research Journal of Finance and Accounting, 4(4), 5360.
Fachrudin, K. A. (2011). Analisis Pengaruh Struktur Modal, Ukuran Perusahaan, dan Agency Cost Terhadap Kinerja Perusahaan. Jurnal Akuntansi Dan Keuangan, 13(1), 3746. https://doi.org/10.9744/jak.13.1.37-46
Ghozali, I. (2016). Aplikasi Analisis Multivarate dengan Program IBM SPSS 23 (8th ed.). Semarang: Badan Penerbit Universitas Diponegoro.
Gideon, A. (2018). Pasar Property di 2019 Lebih Positif. liputan6.com.(https://www.liputan6.com/bisnis/read/3802398/riset-rumahcom-pasar-properti-di-2019-lebih-positif), diakses pada 6 Januari 2020)
Horne, J. C. Van, & Wachowicz, J. M. (2012). Prinsip-Prinsip Manajemen Keuangan (Edisi 13). Jakarta: Salemba Empat.
Hutchinson, M., & Gul, F. A. (2004). Investment opportunity set, corporate governance practices and firm performance. Journal of Corporate Finance, 10(4), 595614. https://doi.org/10.1016/S0929-1199(03)00022-1
Hutchinson, M. R. (2005). An Analysis of the Association Between Firms Investment Opportunities, Board Composition, and Firm Performance. SSRN Electronic Journal, (03). https://doi.org/10.2139/ssrn.295483
Idx.co.id. (2020). Laporan Keuangan dan Tahunan. (https://www.idx.co.id/perusahaan-tercatat/laporan-keuangan-dan-tahunan), diakses pada 2 Januari 2020)
Jensen, M. J., & Meckling, Wi. H. (1976). Theory Of The Firm¯: Managerial Behaviour, Agency Cost and Ownership Structure. Journal of Financial Economics 5, 305360(10), 16711696. https://doi.org/10.1177/0018726718812602
Kautsar, A. (2019). Profitability is a Mediation Variable of Debt on Dividend Payout Indonesian Agriculture Companies.Scholars Journal of Economics, Business and Management 6(2):143-146. 10.21276/sjebm.2019.6.2.9
Kautsar, A. (2014). Analisis Pengaruh Firm Size, Der, Dan Sales Growth Terhadap Dividend Payout Ratio Dengan Roe Sebagai Variabel Intervening Pada Perusahaan Non Keuangan Yang Listed Di Bei Tahun 2009-2011. Jurnal Bisnis Strategi 23(2), 113. https://doi.org/10.14710/jbs.23.2.1-13
Kautsar, A., & Kusumaningrum, T. M. (2015). Analisis Pengaruh Good Coorporate Governance Terhadap Kinerja Perusahaan Yang Dimediasi Struktur Modal Pada Perusahaan Pertambangan Yang Listed Di BEI 2009-2012. Jurnal Riset Ekonomi Dan Manajemen, 15(1), 5975. http://dx.doi.org/10.17970/jrem.15.150105.ID
K, M., & Akash, S. B. (2018). Corporate Governance and Financial Performance: An Empirical Study of Indian Companies. Journal of Management (JOM), 5(6), 213.
Kanwal, M., & Hameed, S. (2017). The Relationship between Dividend Payout And Firm Financial Performance. Research in Business and Management, 4(1), 5. https://doi.org/10.5296/rbm.v4i1.10784
Kasmir. (2016). Analisis Laporan Keuangan. Jakarta: Rajawali Pers.
Kemenkeu.co.id. 2019. Pertumbuhan Ekonomi Indonesia Tahun 2018 Lebih Tinggi Dari Tahun 2017. (https://www.kemenkeu.go.id/publikasi/berita/pertumbuhan-ekonomi-indonesia-tahun-2018-lebih-tinggi-dari-tahun-2017/), diakses pada tanggal 5 Januari 2020)
Mrabet, R., & Boujjat, W. (2016). The Relationship Between Dividend Payments And Firm Performance: A Study Of Listed Companies In Morocco. European Scientific Journal, ESJ, 12(4), 469. https://doi.org/10.19044/esj.2016.v12n4p469
M, R., Waren, J. S., & Carl. (2010). Pengantar Akuntansi Adaptasi-Indonesia. Jakarta: Salemba Empat.
Malhotra, N. K. (2009). Riset Pemasaran Pendekatan Terapan Jilid 1 (4th ed.). Jakarta: Indeks.
Marinda, F., AR, M. D., & Saifi, M. (2014). Pengaruh Investment Opportunity Set (Ios) Dan Struktur Modal Terhadap Kinerja Keuangan (Studi Pada Perusahaan Sektor Property Dan Real Estate Yang Terdaftar Di Bursa Efek Indonesia Periode 2011-2013). Jurnal Administrasi Bisnis S1 Universitas Brawijaya, 14(1), 110.
Modigliani, F., & Miller, M. H. M. (1963). American Economic Association Corporate Income Taxes and the Cost of Capital¯: A Correction. American Economic Review, 53(3), 433443. https://doi.org/10.1126/science.151.3712.867-a
Myers, S. C. (1977). Determinants of Corporate Borrowing. Journal of Financial Economics 5, 147175(10), 20632072. https://doi.org/10.1253/circj.CJ-16-0846
Nuzil, N. R. (2017). Journal Knowledge Industrial Engineering ( JKIE ) Keywords¯: Dividend policy , the company s performance , and the value of the company. Journal Knowledge Industrial Engineering, 04(02), 4150.
Olawale, L., Bamidele, I., & Lawal, F. (2017). The effect of firm size on performance of firms in Nigeria El efecto tamaño en el rendimiento de las empresas nigerianas. The Ieb International Journal of Finance, 15(4), 221. https://doi.org/10.5605/IEB.15.4
Olayinka, O. M. (2019). Audit Committee and Firms Performance in Nigeria: Case Study of selected Nigerian Banks. International Journal of Scientific and Research Publications (IJSRP), 9(9), p9315. https://doi.org/10.29322/ijsrp.9.09.2019.p9315
Pervan, M., & Visic, J. (2012). Influence of Firm Size on Its Business Success. Croatian Operational Research Review, 3(1), 213223.
Pradhan, R. S., & Paudel, L. (2017). Impact of Fundamental Factors on Stock Price: A Case of Nepalese Commercial Banks. SSRN Electronic Journal, (April). https://doi.org/10.2139/ssrn.3044108
Purwohandoko, Nadia Asandimitra, Yuyun Isbanah, dan Achmad Kautsar. 2014. Dasar-Dasar Manajemen Keuangan. Surabaya : Unesa University Press.
Putra, A., & Badjra, I. (2015a). Pengaruh Leverage, Pertumbuhan Penjualan dan Ukuran Perusahaan Terhadap Profitabilitas. E-Jurnal Manajemen Universitas Udayana, 4(7), 20522067.
Putra, A., & Badjra, I. (2015b). Pengaruh Leverage, Pertumbuhan Penjualan dan Ukuran Perusahaan Terhadap Profitabilitas. E-Jurnal Manajemen Universitas Udayana, 4(7), 249411.
S, N. (2016). The Impact of Capital Structure on Financial Performance of the Firms: Evidence From Borsa Istanbul. Journal of Business & Financial Affairs, 5(2), 58. https://doi.org/10.4172/2167-0234.1000173
Sanjabi, M., & Jamshidinavid, B. (2017). The Relationship between Corporate Performance, Investment Decisions, and Investment Opportunities: Evidence from Tehran Stock Exchange. Journal of Economic & Management Perspectives, 11(4), 481485. Retrieved from http://www.econ-society.org
Sanjaya, S., & Rizky, M. F. (2018). Analisis Profitabilitas Dalam Menilai Kinerja Keuangan Pada PT. Taspen (Persero) Medan. Kitabah, 2(2), 16891699. https://doi.org/10.1017/CBO9781107415324.004
Sekaran, U. (2011). Metode Penelitian Untuk Bisnis. Jakarta: Salemba Empat.
Simatupang, P. I. A. N. (2019). Pengaruh Good Corporate Governance Terhadap Kinerja Keuangan Perusahaan Yang Di Mediasi Oleh Struktur Modal Dan Kebijakan Dividen Pada Perusahaan Manufaktur Yang Terdaftar Di BEI Pada Periode 2014-2016. Al-Iqtishad - Jurnal Ilmu Ekonomi Syariah, HG1-9999 F.
Sudana, I. M. (2015). Manajemen Keuangan Perusahaan (Edisi Kedu). Jakarta: Erlangga.
Sugiyono. (2016). Metode Penelitian Pendidikan Pendekatan Kuantitatif, Kualitatif, dan R & D. Bandung: Alfabeta.
Tarus, D. K., & Ayabei, E. (2016). Board composition and capital structure: evidence from Kenya. Management Research Review, 39(9), 10561079. https://doi.org/10.1108/MRR-01-2015-0019
Tornyeva, K. (2012). Corporate Governance and Firm Performance¯: Evidence from the Insurance Sector of Ghana. 4(13), 95113.
Tornyeva, K., & Wereko, T. (2012). Corporate Governance and Firm Performance¯: Evidence from the Insurance Sector of Ghana. European Journal of Business and Management, 4(13), 95113.
Tunggal, W. S. P., & Fachrurrozie. (2014). Accounting Analysis Journal. Accounting Analysis Journal, 3(4), 457465.
Waworuntu, S. R., Tjahjana, K. A. N. F., & Rusmanto, T. (2017). The Effect of Corporate Governance on Firms Capital Structure of Listed Companies in Sri Lanka. Journal of Competitiveness, 9(2), 1933. https://doi.org/10.7441/joc.2017.02.02
Yuliani, Fuadah, L., & Thamrin, K. H. (2018). Pengaruh Mediasi Bauran Pendanaan Terhadap Hubungan Set Peluang Investasi dan Profitabilitas Abstrak. Jurnal Bisnis Dan Manajemen, 2(1), 5667.
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2020-06-26
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Mulyaningsih, T. I. S. (2020). Analisis Faktor pada Kinerja Keuangan dan Mediasi Struktur Modal pada Komite Audit di Perusahaan Property. Jurnal Ilmu Manajemen, 8(3), 796–812. https://doi.org/10.26740/jim.v8n3.p796-812
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