PENGARUH KARAKTERISTIK PERUSAHAAN DAN FAKTOR REGULASI TERHADAP KUALITAS IMPLEMENTASI CORPORATE GOVERNANCE
The purpose if this research is to investigate the determinants of corporate governance implementation quality of Indonesian public listed companies. This research uses 53 firm years for sample. Corporate governance implementation quality data are data for year 2003 and 2004.
The variables that were hypothesized influence corporate governance implementation are investment opportunities, ownership concentration, and leverage. Furthermore, this research also controls the influence of company size and regulatory factors to corporate governance implementation quality. The regulatory factors are bank versus nonblank company and state-owned versus non-stated-owned company. Using multiple regression method, this research found that ownership concentration and company size have positive influence to corporate governance implementation quality. This research also found that state-owned companies have weaker corporate governance mechanism than non-stated-owned companies.
Key words: growth opportunities, ownership concentration, leverage, industry factors, and corporate governance implementation quality.