Harano, Reina (2025) The influence of corporate governance mechanism on financial distress (empirical evidence from companies in consumer cyclical listed in Indonesia stock exchange in 2019-2023) = Pengaruh mekanisme tata kelola perusahaan terhadap probabilitas kesulitan keuangan (bukti empiris dari perusahaan dalam siklus konsumen yang terdaftar di Bursa Efek Indonesia tahun 2019-2023). Bachelor thesis, Universitas Pelita Harapan.
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Abstract
This study investigates the effect of corporate governance mechanisms on financial distress in consumer cyclical firms listed on the Indonesia Stock Exchange from 2019 to 2023. Using logistic regression on 298 firm-year observations, the research examines audit committee size, proportion of independent commissioners, and board size, with firm size, leverage, profit margin, financial performance, and a COVID-year dummy as control variables. Financial distress is measured using a modified Altman Z-score. The results show that a larger audit committee significantly increases the likelihood of financial distress, while other governance variables have no significant effect. Among control variables, firm size has a positive impact, and profit margin is marginally significant. These findings suggest that governance structure alone does not ensure effective oversight. The study highlights the need for stronger governance quality and provides insights for policymakers and practitioners in addressing financial risk. / Penelitian ini mengkaji pengaruh mekanisme tata kelola perusahaan terhadap kondisi financial distress pada perusahaan sektor consumer cyclical yang terdaftar di Bursa Efek Indonesia selama periode 2019–2023. Dengan menggunakan regresi logistik terhadap 298 observasi firm-year, penelitian ini menilai ukuran komite audit, proporsi komisaris independen, dan ukuran dewan komisaris, serta variabel kontrol seperti ukuran perusahaan, leverage, margin laba, kinerja keuangan, dan dummy tahun COVID-19. Financial distress diukur menggunakan klasifikasi skor Z Altman yang dimodifikasi. Hasil penelitian menunjukkan bahwa semakin besar komite audit, semakin tinggi kemungkinan perusahaan mengalami financial distress. Sementara itu, proporsi komisaris independen dan ukuran dewan tidak menunjukkan pengaruh signifikan. Dari variabel kontrol, ukuran perusahaan berpengaruh positif dan margin laba signifikan pada taraf 10%. Temuan ini menunjukkan bahwa keberadaan struktur tata kelola saja tidak menjamin pengawasan yang efektif, serta menekankan pentingnya kualitas tata kelola dalam mitigasi risiko keuangan.
Item Type: | Thesis (Bachelor) |
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Creators: | Creators NIM Email ORCID Harano, Reina NIM01014180009 reinaharano@gmail.com UNSPECIFIED |
Contributors: | Contribution Contributors NIDN/NIDK Email Thesis advisor Sihombing, Tanggor NIDN0316076101 tanggor.sihombing@uph.edu |
Uncontrolled Keywords: | corporate governance; financial distress; audit committee; independent commissioner; board size; mekanisme tata kelola perusahaan; kesulitan keuangan; komite audit; komisaris independen; ukuran dewan. |
Subjects: | H Social Sciences > HF Commerce > HF5601 Accounting |
Divisions: | University Subject > Current > Faculty/School - UPH Karawaci > Business School > Accounting Current > Faculty/School - UPH Karawaci > Business School > Accounting |
Depositing User: | Reina Harano |
Date Deposited: | 30 May 2025 09:21 |
Last Modified: | 30 May 2025 09:21 |
URI: | http://repository.uph.edu/id/eprint/68449 |