Pengaruh Corporate Governance terhadap Kinerja Perusahaan: Sebelum & Sesudah Merger & Akuisisi

Rizna Novtaviani

Abstract


Penelitian ini bertujuan untuk mengetahui hubungan antara tata kelola perusahaan yang diakuisisi, serta kinerjanya selama sebelum dan sesudah merger dan akuisisi (M&A). Data M&A penelitian diambil dari perusahaan yang terdaftar di BEI dari tahun 2016 hingga tahun 2020. Hasil penelitian menemukan bahwa perusahaan yang belum melakukan M&A, komisaris independen dan kepemilikan manajerial tidak berpengaruh signifikan terhadap kinerja keuangan, sedangkan ukuran dewan komisaris memiliki efek negatif yang signifikan pada sektor tersebut. Di sisi lain, perusahaan yang telah melakukan M&A, ditemukan bahwa kepemilikan manajerial berpengaruh positif. Sedangkan, komisaris independen berpengaruh negatif signifikan dan ukuran dewan komisaris tidak berpengaruh signifikan terhadap kinerja keuangan. Secara keseluruhan, hasil penelitian menunjukkan bahwa tata kelola perusahaan memainkan peran penting dalam memahami efek kinerja keuangan sebelum dan sesudah melakukan M&A.


Keywords


direktur independen, ukuran dewan, kepemilikan manajerial, kinerja keuangan

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DOI: https://doi.org/10.31294/eco.v5i2.10885

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