PENGARUH STRUKTUR KEPEMILIKAN TERHADAP TRANSPARANSI: STUDI EMPIRIS DI PASAR MODAL INDONESIA
ABSTRACT: The objective of
this study is to investigate the effect of the corporate governance mechanisms,
especially the firm’s ownership structure on the company’s transparency. The
firm’s ownership structure consists of four variables, which are the proportion
of management ownership, the proportion of domestic institutional ownership,
the proportion of foreign institutional ownership, and the proportion of public
ownership. The company’s transparency consists of two variables, which are the
level of non-compliance mandatory dis-closures and the level of voluntary
disclosures. In this study, have been developed 8 hypotheses. All hypotheses are
developed based on the relationship of two constructs, which are the corporate governance
mechanisms and the company’s transparency. This study uses the sample of 285
firms listed at the Jakarta Stock Exchange and the Surabaya Stock Exchange in
2003. The hypotheses are tested by using ordinary least squares regressions. The
results of this study are as follows: (1) the effect of ownership structures on
transparency is notstatistically significant, (2) only the effect of public ownership
on the level of non-compliance mandatory disclosures is statistically
significant. However, the effect of public ownership on the level of voluntary disclosures
is not statistically significant.
Keywords: corporate governance
mechanisms (the firm’s ownership structure) and the transparency (the level of
non-compliance mandatory disclosures and the level of voluntary disclosures).
Penulis: Dodi Hapsoro
Kode Jurnal: jpmanajemendd070025
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