The implementation of good corporate governance has become an important factor for the sustainability of the company's operations to reduce agency conflicts that occur between the agent and the principal. Eventually, this will result in harmony in the management in order to achieve the company's goals. This study will examine how is the influence of the internal corporate governance mechanism which is represented by the Independent Commissioner, the existence of the Audit Committee, the amount of the members of Board of Commissioners, and the Top Share against the Capital Expenditure policy taken by the company. This research is conducted by using secondary data obtained from the Indonesia Stock Exchange, using a data sample of 48 companies with a period of time from 2009 -2012. The method of analysis used to test the hypothesis is multiple regression analysis using SPSS version 22. The results of the analysis show that the Independent Commissioner and the Top Share do not have significant influence with the Capital Expenditure (CA) policy. Meanwhile, the Audit Committee and the Board of Commissioners have a significant influence on the Capital Expenditure (CA) policy. |