The Effect Of Good Corporate Governance And Political Connection On Value Firm

Agus Bandiyono

doi:10.24912/ja.v23i3.599

Authors

Agus Bandiyono Politeknik Keuangan Negara STAN

DOI:

https://doi.org/10.24912/ja.v23i3.599

Keywords: Political Connections, Good Corporate Governance, Firm Value, Financial Accounting.

Abstract

This study aims to determine the effect of applying good corporate governance and political connections to firm value. The data of this study are secondary data of manufacturing companies listed on the Indonesia Stock Exchange in 2014-2016. Data were analyzed using panel data estimation. The results of this study indicate that partial corporate governance has a positive and significant effect on firm value, political connection variables have a positive and significant effect on firm value and together corporate governance and political connections have a positive and significant effect on firm value.

Author Biography

Agus Bandiyono, Politeknik Keuangan Negara STAN

agusbandiyono@pknstan.ac.id

References

Ang, James S; David K. Ding; and Tiong Yang Thong. (2013). Political Connection and Firm Value. Asian Development Review, Vol. 30, No. 2, pp. 131-166.

Asriyani, R., and Bandiyono, A. (2019). Complexity Of Annual License Notification Of Small-Medium Tax Business Taxes. Jurnal Akuntansi, 23(2), 316-332.

Bandiyono, A., and Aryani, S. D. (2019). Evaluation of Service Standards in the Information and Compliance Service Tax Office. Dinasti International Journal of Education Management And Social Science, 1(1), 55-66.

Bandiyono, A., and Augustine, Y. (2019). Organizational Performance As A Mediation On The Effect Of Levers Of Control And Learning Organization On Tax Compliance. International Journal of Business, Economics and Law–IJBEL.

Bandiyono, A., and Indrianto, N.P.P. (2019). E-Rekon LK Application as a Form of Accounting and E-Government Information Systems Implementation in Indonesia. International Journal of Innovation, Creativity and Change, 8(3), 23-40.

Bandiyono, A., and Murwaningsari, E. (2019). Effect of Intra Group Transaction, Thin Capitalization and Executive Characters on Tax Avoidation with Multinationality as a Moderation. Journal of Accounting, Business and Finance Research, 7(2), 82-97.

Bandiyono, A., and Pratama, L. W. (2019). Risk Cultural Evaluation As Organizational Culture In The Tax Service Office. Dinasti International Journal of Management Science, 1(2), 133-147.

Bianchi, Maria T., and Viana Rui Couto. (2014). “Political Connections: Evidence From Listed Companies in Portugal.” International Journal of Economics and Accounting 5(1): 75. doi:10.1504/ijea.2014.060917.

Brigham, Eugene F and Joel F. Houston. (2014). Fundamentals of Financial Management, 14th Edition. Mason: South-Western Cengange Learning.

Chariri, A., dan Ghozali, I. (2007). Teori Akuntansi. Semarang: Badan Penerbit Universitas Diponegoro.

Coulumb, Renaud, and Marc Sangnier. (2014). “The Impact Of Political Majorities On Firm Value: Do Electoral Promises Or Friendship Connections Matter?.” Journal of Public Economics 115(2014): 158-170. doi: 10.1016/j.jpubeco.2014.05.001.

Dewanti Mega Rizky. (2019). Pengaruh Koneksi Politik Terhadap Nilai Perusahaan yang terdaftar di BEI. Surabaya. Artikel Ilmiah STIE Perbanas Thesis.

Ernawati dan Widyawati (2015). Pengaruh Profitabilitas, Leverage dan Ukuran Perusahaan Terhadap Nilai Perusahaan. Jurnal Ilmu & Riset Akuntansi Vol. 4 No. 4 (2015).

Evianisa, Hermailinda. (2014). “Pengaruh Karakter Eksekutif dan Corporate Governance terhadap Tax Avoidace.” Universitas Muhammadiyah Yogyakarta. Yogyakarta.

Faccio, Mara. (2006). Politically Connected Firms, Journal American Economic Assosiation, Vol. 96, No. 1, pp: 369-386.

Fadilah, Sri. (2011). Pengaruh Implementasi Pengendalian Intern dan Total Quality Management terhadap Penerapan Good Governance. Simposium Nasional Akuntansi XIV. Aceh.

Freeman, R. E., and McVea, J. (2001). A Stakeholder Approach to Strategic Management. The Blackwell Handbook 0f Strategic Management, 189-207.

Hemastuti,C.P. (2014). Pengaruh Profitabilitas, Kebijakan Dividen, Kebijakan Hutang, Keputusan Investasi, dan Kepemilikan Insider Terhadap Nilai Perusahaan. Jurnal Ilmu & Riset Akuntansi. Vol.3. No.4.

Irawan, N., dan Deviesa, D. (2017). Pengaruh Corporate Governance Terhadap Firm Value Dengan Financial Performance Sebagai Variabel Intervening Pada Perusahaan LQ 45 Tahun 2012-2015. Business Accounting Review, 5(1), 277-288.

Kim, C., and Zhang, L. (2016). Corporate Political Connections And Tax Aggressiveness. Contemporary Accounting Research, 33(1), 78-114.

Kristanto Agustinus Tri. (2019). Pengaruh Political Connections Terhadap Kinerja Perusahaan. EXERO Journal of Research in Business and Economics, Vol. 02, No. 01, Mei 2019.

Lukviarman, Niki. (2016). Corporate Governance. Solo: PT Era Adicitra Intemedia.

Muryati Ni Nyoman Tri Sariri dan Suardikha I Made Sadha. (2014). Pengaruh Corporate Governance pada Nilai Perusahaan. E-Journal Akuntansi Universitas Udayana 9.2(2014): 411-429.

Noerirawan Moch. Ronni dan Muid Abdul, (2012). “Pengaruh Faktor Internal dan Eksternal Perusahaan Terhadap Nilai Perusahaan”. Diponegoro Journal of Accounting Vol.1 No. 2, hal. 4.

Purbopangestu Hary Wisnu dan Subowo. (2014). Pengaruh Good Corporate Governance Terhadap Nilai Perusahaan dengan Corporate Social Responsibility Sebagai Variabel Intervening. Accounting Analysis Journal 3 (3).

Purwoto, Lukas. (2011). Pengaruh Koneksi Politis, Kepemilikan Pemerintah dan Keburaman Laporan Keuangan terhadap Kesinkronan dan Risiko Crash Harga Saham. Ringkasan Disertasi Program Doktor Ilmu Ekonomi Manajemen. Universitas Gadjah Mada.

Septianto, Reza, Sumiati dan Ainur Rofiq. (2017). Pengaruh Corporate Governance terhadap Firm Value Melalui Mediasi Capital Structure dan Financial Performance. Jurnal Bisnis dan Manajemen Vol. 4 No.1, Januari 2017.

Sharma, Piyush; Cheng, Louis; Leung, T.Y. (2019). Impact of political connections on Chinese export firms' performance - Lessons for other emerging markets. Journal of Business Research. 10.1016/j.jbusres.2019.08.037.

Suad Husnan dan Enny Pudjiastuti. (2012). Dasar – Dasar Manajemen Keuangan. Edisi Keenam cetakan pertama. Yogyakarta: UPP AMP YKPN.

Suffah, Roviqotus dan Akhmad Riduwan. (2016). Pengaruh Profitabilitas, Leverage, Ukuran Perusahaan Dan Kebijakan Dividen Pada Nilai Perusahaan. Jurnal Ilmu dan Riset Akuntansi, Volume 5 Nomor 2, februari 2016.

Susanto, Y. K. (2013). Pengaruh Pengungkapan Sustainability Report terhadap Profitabilitas Perusahaan. Business Accounting Review, 1(2), 319-328.

Tambunan Mei Cyntia Sabrina, Muhammad Saifi dan Raden Rustam Hidayat. (2017). Pengaruh Good Corporate Governance terhadap Nilai Perusahaan. Jurnal Administrasi Bisnis (JAB) Vol. 3 N0. 1 Desember 2017.

Tangke Paulus. (2019). Pengaruh Political Connection dan Foreign Ownership terhadap Nilai Perusahaan Melalui Corporate Social Responsibility. Jurnal Akuntansi & Keuangan Daerah Volume 14, Nomor 1, Mei 2019: 01-15.

Velnampy, T. (2013). Corporate Governance and Firm Performance: A Study of Sri Lankan Manufacturing Companies. Journal of Economics and Sustainable Development Vol. 4 (3), 228-235.

Wang, Fangjun, Luying Xu, Junrui Zhang, Wei Shu. (2018). ”Political Connection, Iinternal Control and Firm Value: Evidence from China’s Anti-Corruption Campaign.” Journal of Business Research 86(1): 53-67. doi: 10.1016/j.jbusres.2018.01.045.

Wiagustini, Luh Putu. (2014). Dasar-dasar Manajemen Keuangan. Denpasar: Udayana University Press.

Wulandari, Tri. (2013). Analisis Pengaruh Political Connection dan Struktur Kepemilikan Terhadap Kinerja Perusahaan. Diponegoro Journal Of Accounting, Vol. 2, No. 1, Hal. 1-12.