Jurnal Akuntansi dan Keuangan Indonesia
Vol 2, No 2 (2005)

PENGARUH MEKANISME CORPORATE GOVERNANCE TERHADAP PERINGKAT SURAT UTANG PERUSAHAAN DI INDONESIA

Setyaningrum, Dyah (Unknown)



Article Info

Publish Date
31 Dec 2005

Abstract

This research investigated whether corporate governance mechanism affects the firm 's bond rating in Indonesia. Specifically, investigation on whether corporate governance components, which are represented by ownership structure and influence, financial transparency and disclosure and board structure, affect the firm s bond rating. This research used several corporate governance mechanisms developed by Bursa Efek Jakarta and bond rating classification developed by Pefindo and Kasnic. Ordered logit model is selected to test the research problem. Using firm s characteristic as controlling variable, this research found that the firm s bond rating is: (1) negatively associated with the number o f block holders that own at least 5% ownership on the firm; (2) positively associated with percentage o f institutional ownerships; (3) positively associated with the size o f public accounting firm, and (4) positively associated with existence o f audit committee. The relationship between percentage o f insider, board size and percentage o f independent board with bond rating is not supported by empirical data.

Copyrights © 2005






Journal Info

Abbrev

home

Publisher

Subject

Economics, Econometrics & Finance

Description

Jurnal Akuntansi dan Keuangan Indonesia (JAKI) is a peer-reviewed journal published by Department of Accounting, Faculty of Economics and Business, Universitas Indonesia twice a year (June and December). JAKI aims to publish articles in the field of accounting and finance that provide the ...