Jurnal Kajian Akuntansi, Vol 1, (1), 2017, 11-22
e2579-9991, p2579-9975
http://jurnal.unswagati.ac.id/index.php/jka
Page 11
PERAN KARAKTERISTIK PERUSAHAAN DAN CORPORATE GOVERNANCE
DALAM KEPUTUSAN PENDANAAN PERUSAHAAN PERTAMBANGAN
Agung Yulianto
Fakultas Ekonomi, Universitas Swadaya Gunung Jati
agung789@gmail.com
Abstract
The funding decision represents important things that need to be considered by a manager when
specify the portion of the company's capital structure that comes from internal funding sources as well
as external funding sources. Therefore, this study aims to test empirically the influence the
characteristics of the company that are measured by tangibility and profitability as well as the
mechanisms of corporate governance that are measured by the board of directors and the independent
commissioners in the determination of the company's capital structure. This research is based on the
Pecking Order Theory that examines the hierarchy of corporate funding. This research was conducted
on the mining company listings in BEI 2012-2015 year period with as many as 138 companies sample.
Data analysis in this study using multiple regression analysis that was previously tested with classical
assumptions. Hypothesis testing is done through t-Test. The results showed that tangibility,
profitability, the board of directors and the independent commissioners have no effect on the decision
of the company's funding.
Keywords: Leverage; Tangibility; Profitability; Board of directors; Independent commissioner
Abstrak
Keputusan pendanaan merupakan hal penting yang perlu dipertimbangkan oleh manajer saat
mengelola struktur pendanaan perusahaan yang berasal dari sumber pendanaan internal maupun
sumber pendanaan eksternal. Oleh karena itu, penelitian ini dilakukan untuk menganalisis pengaruh
karakteristik perusahaan yang diukur oleh tangibility dan profitabilitas serta mekanisme corporate
governance yang diukur oleh dewan direksi dan komisaris independen dalam penentuan struktur
permodalan perusahaan. Penelitian ini dilakukan pada perusahaan pertambangan yang go public di
Indonesia tahun 2012-2015 dengan sampel sebanyak 138 perusahaan. Analisis data dalam penelitian
ini menggunakan analisis regresi berganda yang sebelumnya diuji dengan asumsi klasik. Uji hipotesis
dilakukan melalui Uji t. Hasil penelitian menunjukkan bahwa tangibility, profitabilitas, dewan direksi
dan komisaris independen tidak berpengaruh terhadap keputusan pendanaan perusahaan.
Kata kunci: Tangibility, Profitabilitas, Dewan Direksi, Komisaris Independen
Cronicle of Article : Received (April 2017); Revised (Mei 2017); and Published (Juni 2017).
©2017 Jurnal Kajian Akuntansi Lembaga Penelitian Universitas Swadaya Gunung Jati.
Profile and corresponding author: Agung Yulianto, SE., M.Si, Akt, CA adalah dosen Program Studi
Akuntansi Fakultas Ekonomi Universitas Swadaya Gunung Jati. Corresponding Author :
agung789@gmail.com.
How to cite this article: Agung Yulianto. (2017). Peran Karakteristik Perusahaan dan Corporate
Governance dalam Keputusan Pendanaan Perusahaan Pertambangan. Jurnal Kajian Akuntansi, 1(1), 11–
22. Retrieved from http://jurnal.unswagati.ac.id/index.php/jka