Pengaruh Kepemilikan Manajerial dan Kepemilikan Institusional terhadap Kinerja Keuangan dengan Kebijakan Utang sebagai Variabel Mediasi

Mandarsari, Niken Dewi (2020) Pengaruh Kepemilikan Manajerial dan Kepemilikan Institusional terhadap Kinerja Keuangan dengan Kebijakan Utang sebagai Variabel Mediasi. Jurnal thesis, STIE YKPN.

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Abstract

Agency problems can trigger an increase in agency costs which will later cause a decrease in financial performance. Bathala et al. (1994) states that there are a number of efforts to limit agency disputes, for example by increasing managerial and institutional stock ownership in companies so as to improve financial performance. This study aims to examines the effect of managerial ownership, pressure-resistant institutional ownership and pressure-sensitive institutional ownership on financial performance by using debt policy as a mediating variable. Debt policy is measured using Debt to Equity Ratio (DER) and financial performance is measured using Return on Equity (ROE). The sample of this study was taken from companies listed on the Indonesia Stock Exchange in 2014-2018. The sample selection uses a purposive sampling method. Data analysis was performed using the Structural Equation Model. The results showed that managerial ownership had a significant positive effect on debt policy, while pressure-resistant institutional ownership and pressure-sensitive institutional ownership had no effect on debt policy. On the other hand, debt policy, pressure-resistant institutional ownership and pressure-sensitive institutional ownership have a significant positive effect on financial performance but managerial ownership has no effect on financial performance. Thus, it can be concluded that debt policy can mediate the effect of managerial ownership on financial performance but cannot mediate the effect of pressure-resistant institutional ownership and pressure-sensitive institutional ownership on financial performance.

Item Type: Thesis (Jurnal)
Additional Information: Tesis dapat dibaca di Perpustakaan dengan call number MAN p 448/2020
Uncontrolled Keywords: managerial ownership, institutional ownership, pressure-resistant institutional ownership, pressure-sensitive institutional ownership, debt policy, financial performance
Divisions: Program Pasca Sarjana > Jurnal Tesis Magister Akuntansi
Depositing User: Pustakawan STIE YKPN
Date Deposited: 10 Sep 2020 03:59
Last Modified: 10 Sep 2020 03:59
URI: http://repository.stieykpn.ac.id/id/eprint/894

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