Electronic Theses and Dissertation

ABSTRAK
Penelitian ini menguji tentang efek dari mekanisme tata Kelola dengan di wakili oleh jumlah dewan direksi, jumlah dewan komisaris dan kepemilikan terkonsentrasi dalam mempengaruhi hubungan biaya keagenan terhadap kinerja perusahaan- perusahaan yang terdaftar di BEI tahun 2019 sampai 2023. Pengujian dilakukan menggunakan analisis regresi moderasi (MRA) menggunakan konsep regresi data panel model EGLS (cross-section weight) untuk mengatasi pelanggaran asumsi klasik. Pengukuran variabel kinerja perusahaan menggunakan proksi laba bersih dibagi total aset / rumus ROA, kemudia variabel biaya keagenan di ukur menggunakan beban operasi atas total penjualan / EXPR. Variabel tata kelola perusahaan yang diwakilkan dewan direksi di proksikan dengan total jumlah dewan tersebut. Kemudian, variabel dewan komisaris di hitung oleh total dewannya dan variabel kepemilikan terkonsentrasi di proksikan dengan persentase kepemilikan saham terbesar. Hasil studi menunjukkan bahwa biaya keagenan berpengaruh negatif signifikan terhadap kinerja perusahaan, dewan direksi tidak berperan sebagai moderator dalam hubungan biaya agen dan kinerja perusahaan dan termasuk jenis homologizer, dewan komisaris tidak berperan sebagai moderator, melainkan sebagai Moderasi homologizer, dan konsentrasi kepemilikan berperan sebagai quasi moderator dalam hubungan biaya agen terhadap kinerja perusahaan.
Kata kunci: Kinerja Perusahaan, Biaya Keagenan, Dewan Direksi, Dewan Komisaris, Kepemilikan Terkonsentrasi
 

ABSTRACT This study examines the effect of the governance mechanism represented by the number of board of directors, the number of commissioners and concentrated ownership in influencing the relationship between agency costs and the performance of companies listed on the IDX from 2019 to 2023. The test was carried out using moderation regression analysis (MRA) using the EGLS (cross-section weight) model panel data regression concept to overcome classical assumption violations. The measurement of the company's performance variables uses the proxy of net profit divided by the total assets / ROA formula, then the agency cost variable is measured using the operating expenses of the total sales / EXPR. The corporate governance variable represented by the board of directors is proxied with the total number of the board. Then, the variables of the board of commissioners are calculated by the total of the board and the ownership variables are concentrated in the proxy with the largest percentage of share ownership. The results of the study show that agency costs have a significant negative effect on the company's performance, the board of directors does not act as a moderator in the relationship between agent costs and company performance and includes the type of homologizer, the board of commissioners does not act as a moderator, but rather as a homologator moderation, and the concentration of ownership acts as a quasi-moderator in the relationship between agent costs and company performance. Keywords: Company Performance, Agency Costs, Board of Directors, Board of Commissioners, Concentrated Ownership