Pengaruh insider ownership institutional ownership foreign ownership terhadap financial distress pada perusahaan sub sektor pertambangan batu bara yang terdaftar di bursa efek indonesia

Salasiah Salasiah, Justina Ade Judiarni

Abstract


Studi ini menganalisis dengan menggunakan sampel sebanyak 18 perusahaan di Sub Sektor Pertambangan Batu Bara yang terdaftar di Bursa Efek Indonesia periode 2014-2018 dengan menggunakan teknik purposive sampling. Penelitian ini bertujuan untuk memdapatkan bukti empiris mengenai 3 dampak variabel independen, yaitu Insider Ownership, Institutional Ownership, dan Foreign Ownership: terhadap variabel dependen yaitu, Financial Distress. Alat yang digunakan dalam penelitian ini adalah regresi data panel dan statistik deskriptif. Hasil penelitian menunjukkan: (1) Insider Ownership berpengaruh positif dan signifikan terhadap Financial Distress, (2) Institutional Ownership berpengaruh negatif dan signifikan terhadap Financial Distress, dan Foreign Ownership berpengaruh negatif dan tidak Signifikan terhadap Financial Distress.


Keywords


Sub sektor pertambangan batu bara; insider ownership; institutional ownership; dan foreign ownership terhadap financial distress

References


Alfaraih, M., Alanezi, F., & Almujamed, H. (2012). The Influence of Institutional and Government Ownership on Firm Performance: Evidence from Kuwait. International Business Research, 5(10), 192–200.

Agus Rinaldi Dra. Haryetti, M. S., & Ahmad Fauzan Fathoni, Se., M. S. (2014). Effect Of Ownership Structure Financial Distress In Mining Company Registered In Idx Period 2019-2012. Jom Pekon, 1(No 2), 1–16.

Akbar, S., Poletti-Hughes, J., El-Faitouri, R., & Shah, S. Z. A. (2016). More on the relationship between corporate governance and firm performance in the UK: Evidence from the application of generalized method of moments estimation. Research in International Business and Finance, 38, 417–429.

Antoniou, A., Guney, Y., & Paudyal, K. (2008). The Determinants of Capital Structure: Capital Market-Oriented versus Bank-Oriented Institutions. In Journal of Financial and Quantitative Analysis (Vol. 43). https://doi.org/10.1017/s0022109000002751

Asensio-López, D., Cabeza-García, L., & González-Ãlvarez, N. (2019). Corporate governance and innovation: a theoretical review. European Journal of Management and Business Economics, 28(3), 266–284.

Bykova, A., & Lopez-Iturriaga, F. (2018). Exports-performance relationship in Russian manufacturing companies: Does foreign ownership play an enhancing role? Baltic Journal of Management, 13(1), 20–40.

Chang, H., & Choy, H. H. (2016). The effect of the Sarbanes–Oxley Act on firm productivity. Journal of Centrum Cathedra, 9(2), 120–142.

Cheung, W. K. A., & Wei, K. C. J. (2006). Insider ownership and corporate performance: Evidence from the adjustment cost approach. Journal of Corporate Finance, 12(5),906–925.

Hassan Al-Tamimi, H. A. (2012). The effects of corporate governance performance and financial distress: The experience of UAE national banks. Journal of Financial Regulation and Compliance, 20(2), 169–181.

Henry, D. (2010). Agency costs, ownership structure and corporate governance compliance: A private contracting perspective. Pacific Basin Finance Journal, 18(1), 24–46.

Hwang, C.-Y., Zhang, S., & Zhu, Y. (2018). Related Party Transactions and Institutional Investors in Chinese Listed Companies. 6, 1–25.

Lee, T. S., & Yeh, Y. H. (2004). Corporate governance and financial distress: Evidence from Taiwan. Corporate Governance: An International Review, 12(3), 378–388.

Md-Rus, R., Mohd, K. N. T., Latif, R. A., & Alassan, Z. N. (2013). Ownership Structure and Financial Distress. Journal of Advanced Management Science, 1(4), 363–367.

Nkurunziza, G., Munene, J., Ntayi, J., & Kaberuka, W. (2019). Business process reengineering in developing economies. Innovation & Management Review, 16(2), 118–142.

Paule-vianez, J., Empresa, E. De, Rey, U., Carlos, J., & Ciencias, F. De. (2019). Prediction of fi nancial distress in the Spanish banking system An application using artificial neural networks.

Shahwan, T. M. (2015). The effects of corporate governance on financial performance and financial distress: evidence from Egypt. Corporate Governance (Bingley), 15(5), 641–662. 0140

Udin, S., Khan, M. A., & Javid, A. Y. (2017). Corporate Governance : The International Journal of Business in Society The Effects of Ownership Structure on likelihood of Financial Distress : An Empirical Evidence Article information : About Emerald www.emeraldinsight.com. Corporate Governance: International Journal of Business Society, 14(4), 589–612.

Yudaruddin, R. (2014). Statistik Ekonomi: Aplikasi Dengan Program SPSS Versi 20. Yogyakarta: Interpena Yogyakarta.




DOI: https://doi.org/10.29264/jimm.v6i4.9431

Refbacks

  • There are currently no refbacks.


Copyright (c) 2021 Jurnal Ilmu Manajemen Mulawarman (JIMM)


Crossref logo 

Editorial Address

Jurnal Ilmu Manajemen Mulawarman (JIMM)
Faculty of Economics and Business, Mulawarman University
Jl. Tanah Grogot No.1 Samarinda Kalimantan Timur 75119
Email: jimm.feb@gmail.com