Transparency and Corporate Governance : Analysis of Factors Affecting Transparency and Its Effect on Market Value of The Firm  

Oleh:

Riyanto, Bambang ; Novi K., Dwi

Jenis: Article from Journal - ilmiah internasional - terdaftar di DIKTI
Dalam koleksi: The Indonesian Journal of Accounting Research (Jurnal Riset Akuntansi Indonesia) vol. 9 no. 2 (Mei 2006), page 115-135.
Topik: transparency; corporate governance; transparency; disclosure; market value of the firm

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: RR17.5 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

This research aims to investigate factors affecting the level of Good Corporate Governance (GCG) transparency in annual reports. Factors being predicted are firm's specific characteristics and commisionaire characteristics. This study also aims to test empirically whether investors value that GCG transparency, which is reflected in the market value of firms. Moreover, this paper investigates whether investors also consider other corporaet governance variables, such as board characteristics. GCG transparency level is measured using 161 items recommended by GCG Codes, which are developed by KNKCG (2001). The ststistical method used is multiple regression analysis. The results show that firm's specific characteristics and commisionaire characteristics affect the GCG transparency level, except for industry and cross - directorships variables. The GCG transparency level is also responded by the market, together with board characteristics.

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