Pengaruh Good Corporate Governance terhadap Kinerja Keuangan dengan Manajemen Laba sebagai Variabel Mediasi pada BUMN yang Terdaftar di Bursa Efek Indonesia

Abstract

This research aims at empirically proving how good corporate governance affect the SOE's financial performance listed on Indonesian Stock Exchange from 2011 to 2020, using earnings management as a moderating variable. A documentation technique is conducted to collect the data which is secondary data. The data are analysed using panel data regression, and E-views version 12. The findings demonstrate that independent directors and independent audit committees have a partially direct significant negative effect on financial performance, while government ownership has a significant positive effect on financial performance, independent commissioners have insignificant negative effect on financial performance. Also, the earnings management has insignificant positive effect on financial performance in state-owned companies listed on Indonesian Stock Exchange from 2011 to 2020. Furthermore, independent directors and independent audit committees have insignificant positive effect on financial performance, while independent commissioners and government ownership have no significant negative effect on earnings management. The reserach finds no evidence of earnings management serving as mediator on the effect of independent directors, independent commissioners, government ownership, and independent audit committees on a company's financial performance.