Apakah Independensi dalam Tata Kelola Meningkatkan Kinerja Perusahaan? Perspektif Teori Agensi dan Stakeholder

Rohmat Mahfuddin; Yulia Setyarini; Melvie Paramitha; Suklimah Ratih; Chitra Santi

doi:10.31004/riggs.v4i2.518

Authors

Rohmat Mahfuddin Universitas Widya Kartika
Yulia Setyarini Universitas Widya Kartika
Melvie Paramitha Universitas Widya Kartika
Suklimah Ratih Universitas Widya Kartika
Chitra Santi Universitas Widya Kartika

DOI:

https://doi.org/10.31004/riggs.v4i2.518

Keywords:

Corporate Governance, Corporate Performance, Accounting

Abstract

Penelitian ini bertujuan untuk menganalisis peran dewan independen terhadap kinerja perusahaan. Kami menggunakan 580 observasi dari 104 perusahaan berbeda yang terdaftar di Bursa Efek Indonesia selama periode 2017–2023. Penelitian ini menggunakan analisis ordinary least square untuk menguji hipotesis yang diajukan. Hasil penelitian menunjukkan bahwa partisipasi dewan independen memiliki pengaruh positif signifikan terhadap kinerja perusahaan meliputi kinerja keuangan, kinerja pasar dan kinerja operasional. Namun, temuan ini tidak berlaku pada perusahaan yang berada dalam kondisi merugi. Konsisten dengan agency theory dan stakeholder theory, studi ini menunjukkan bahwa keberadaan dewan independen dapat mengatasi potensi konflik kepentingan atau masalah etika yang mungkin timbul, dewan independen harus memiliki kebijakan yang jelas terkait dengan pengungkapan hubungan pribadi atau bisnis dengan pihak terkait. Akibatnya, kehadiran mereka dapat meningkatkan kinerja perusahaan dengan cara menjaga keseimbangan antara kepentingan berbagai pemangku kepentingan. Temuan ini dapat memberikan kontribusi bagi regulator di Indonesia dalam hal penyediaan bukti empiris mengenai hubungan antara struktur tata kelola dewan dan kinerja perusahaan non-keuangan.

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