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Agency Cost Pada Perusahaan Keluarga Dan Non Keluarga

Author

Listed:
  • Layyinaturrobaniyah Layyinaturrobaniyah
  • Rachmat Sudarsono
  • Desi Fitriyana

Abstract

Penelitian ini bertujuan untuk mengetahui seberapa besar pengaruh agency cost terhadap kinerja perusahaan pada perusahaan keluarga dan non keluarga. Agency cost dalam penelitian ini diproksikan dengan expense ratio dan asset utilization ratio, sementara itu kinerja perusahaan diproksikan dengan rasio Tobin’s Q. Sampel dalam penelitian ini sebanyak 32 perusahaan dengan struktur kepemilikan keluarga dan 22 perusahaan dengan struktur kepemilikan non keluarga yang terdaftar di Bursa Efek Indonesia periode tahun 2008-2010. Dengan analisis regresi data panel diperoleh hasil bahwa expense ratio memiliki pengaruh negatif signifikan terhadap kinerja perusahaan. Sementara itu, untuk asset utilization ratio memiliki pengaruh positif terhadap kinerja perusahaan. Lebih lanjut, dengan efek moderasi, kepemilikan keluarga dapat memperlemah pengaruh negatif agency cost yang diproksikan dengan expense ratio dan dapat memperlemah pengaruh positif agency cost yang diproksikan dengan asset utilization ratio terhadap kinerja perusahaan.Kata Kunci: Agency cost, Agency problem, Kepemilikan keluarga, Rasio Tobin’s Q.

Suggested Citation

  • Layyinaturrobaniyah Layyinaturrobaniyah & Rachmat Sudarsono & Desi Fitriyana, 2014. "Agency Cost Pada Perusahaan Keluarga Dan Non Keluarga," Jurnal Siasat Bisnis, Management Development Centre (MDC) Department of Management, Faculty of Business and Economics Universitas Islam Indonesia, vol. 18(2), pages 169-179.
    • Handle: RePEc:uii:jsbuii:v:18:y:2014:i:2:p:169-179:id:3816
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