MEKANISME PEMANTAUAN YANG EFEKTIF DALAM KONDISI FINANCIAL DISTRESS

Riesanti Edie Wijaya; Wikko Kris  Hermanda

doi:10.34202/imanensi.7.2.2022.53-68

Riesanti Edie Wijaya Universitas Surabaya
Wikko Kris Hermanda Universitas Surabaya

DOI: https://doi.org/10.34202/imanensi.7.2.2022.53-68

Keywords: Agency theory, Board of commissioners size, Financial distress, Resource dependence theory

Abstract

This study aims to explain how effective the monitoring mechanism works in conditions of financial distress. Two types of monitoring mechanisms were explored in the study namely: corporate governance and ownership monitoring mechanisms. This study uses 294 companies listed on the Indonesia Stock Exchange for 3 years. This study uses binary logistic regression to analyze the empirical data. The results of the data processing show that only the size of the board of commissioners and gender diversification can help companies deal with economic downturns. This study implies that agency theory is superior to resource dependence theory which explains that board size can optimize board performance.

Abstrak

Studi ini bertujuan untuk menjelaskan seberapa efektif mekanisme pemantauan bekerja dalam kondisi financial distress. Dua jenis mekanisme pemantauan dieksplorasi dalam studi yakni: tata kelola perusahaan dan mekanisme pemantauan kepemilikan. Penelitian ini menggunakan 294 perusahaan yang tercatat di Bursa Efek Indonesia selama 3 tahun. Studi ini menggunakan regresi logistik biner untuk menganalisis data empiris. Hasil olahan data menunjukkan bahwa hanya ukuran dewan komisaris dan diversifikasi gender yang mampu membantu perusahaan menghadapi kemerosotan ekonomi. Penelitian ini mengimplikasikan bahwa teori keagenan lebih unggul dibandingkan teori ketergantungan sumber daya yang menjelaskan bahwa ukuran dewan dapat mengoptimalkan kinerja dewan.

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