Pengaruh Board Characteristics dan Koneksi Politik Terhadap Financial Distress

Amprita Nurvitasari; Ari Nurul Fatimah; Atika

doi:10.47709/jebma.v6i2.9068

Authors

Amprita Nurvitasari Universitas Tidar
Ari Nurul Fatimah Universitas Tidar
Atika Universitas Tidar

DOI:

https://doi.org/10.47709/jebma.v6i2.9068

Keywords:

Board Education; Financial Distress; Koneksi Politik; Ukuran Dewan; Woman on Board

Abstract

Risiko financial distress yang tercermin dari penurunan kinerja dan ketidakmampuan perusahaan dalam memenuhi kewajiban menunjukkan pentingnya stabilitas keuangan perusahaan dalam penilaian investor, terutama pada sektor property dan real estate. Sektor ini memiliki karakteristik investasi besar, siklus bisnis yang panjang, serta risiko keuangan yang tinggi. Penelitian ini bertujuan untuk menginvestigasi pengaruh board characteristics (meliputi ukuran dewan komisaris, woman on board of commissioner, woman on board of director, board education) serta koneksi politik terhadap financial distress yang berlandaskan pada agency theory. Penelitian ini menggunakan desain penelitian kuantitatif dengan pendekatan kausalitas. Penelitian ini menerapkan teknik purposive sampling dengan total 258 sampel. Teknik analisis data yang digunakan dalam penelitian ini adalah regresi linear berganda yang diolah menggunakan aplikasi SPSS versi 26. Hasil penelitian menunjukkan bahwa board education berpengaruh negatif terhadap financial distress. Woman on board of director berpengaruh positif terhadap financial distress. Sementara itu, ukuran dewan komisaris, woman on board of commissioner, dan koneksi politik tidak berpengaruh terhadap financial distress. Perusahaan disarankan agar dapat mempertimbangkan tingkat pendidikan sebagai salah satu kriteria dalam pengangkatan dewan direksi agar dapat meningkatkan kualitas keputusan strategis, sehingga dapat menekan risiko terjadinya financial distress.

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