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"Penelitian ini bertujuan untuk melihat apakah penerpan corporate governance berpengaruh terhadap peringkat kredit perusahaan Dengan sampel 168 perusahaan yang terdaftar di Bursa Efek Indonesia selama periode 2009 2013 penelitian ini membuktikan penerapan corporate governance berpengaruh terhadap peringkat Kredit dan komponen yang berpengaruh positif adalah jumlah direksi proporsi komisaris independen kepemilikan instirusional komite audit dan audit eksternal Sementara itu jumlah blockholders berpengaruh negatif terhadap peringkat kredit perusahaan Penelitian ini juga menemukan bahwa jumlah komisaris tidak berpengaruh terhadap peringkat kredit perusahaan.

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This study aims to examine whether implemented in corporate governance affect firm rsquo s credit rating With a sample of 168 firms listed in Indonesia Stock Exchange IDX during 2009 2013 this study finds that implemented in corporate governance affect on firm rsquo s credit rating and the components positively affect are board size institutional ownership audit committee and external auditor While proportion of outside director and size of blockholders negatively affect firm rsquo s credit rating This study also finds that independent commissioner insignificantly associated with firm rsquo s credit rating."

"Penelitian ini menginvestigasi efek dari mekanisme corporate governance terhadap rating sukuk. Proksi dari mekanisme corporate governance adalah blockholders, kepemilikan institusional, kepemilikan insider, kualitas audit, komite audit, jumlah dewan komisaris dan persentase dewan komisaris independen. Proksi tersebut merupakan variable independen dimana variable dependen nya merupakan rating sukuk. Model ordered logistic regression (logit) digunakan untuk menguji hipotesis. Sampel penelitian adalah sukuk yang dikeluarkan perusahaan pada periode 2005 - 2012, dan data diambil dari Bursa Efek Indonesia dan PT Pefindo. Hasil penelitian empiris menemukan bahwa komite audit mempengaruhi secara signifikan pada rating sukuk perusahaan. Untuk meningkatkan rating dari sukuk, penelitian ini merekomendasikan bahwa keberadaan dari komite audit menjadi perhatian serius bagi perusahaan yang mengeluarkan sukuk dalam meningkat kan rating sukuk

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This study investigated the effect of corporate governance mechanism to sukuk ratings. The proxies of corporate governance are blockholders, institutional ownership, insider ownership, quality of audit external, audit committees, number of commissioner, and percentage of independent commissioners. Those proxies are independent variables, and the dependent variables are sukuk rating. Ordered Logistic regression (logit) is used to examine the hipothesis. The samples are sukuk that issued on period 2005-2012, and data are collected from Indonesia Stock Exchange and PT Pefindo.

The results of empirical studies have found that the audit committee as an indicator of corporate governance mechanisms affect the rating of corporate sukuk significantly. To be able to increase the rating of the sukuk is the study recommends that the existence of audit committees must be a serious concern for companies that issue a sukuk in improving the rating of the sukuk."

"Penelitian ini menguji pengaruh mekanisme corporate governance terhadap peringkat surat utang yang diterbitkan oleh perusahaan di Indonesia yang bergerak pada sektor industri perbankan dan keuangan. Tata kelola perusahaan dilihat dari segi efektivitas peran organ dewan komisaris dan komite audit yang dinilai menggunakan checklist scoring. Komponen yang dinilai terdiri atas segi independensi, aktivitas, ukuran, dan kompetensi. Penelitian ini menggunakan peringkat surat utang yang dikeluarkan PT Pefindo sebagai lembaga pemeringkat. Berdasarkan sampel perusahaan tahun 2010-2015 sebanyak 130 observasi, hasil pengujian dari model ordererd logit menunjukkan terdapat hubungan positif signifikan peringkat surat utang dengan tata kelola perusahaan.

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This research examined the effect of corporate governance mechanism on the firms bond rating in Indonesia, specifically on banking and financial industries. The corporate governance viewed in terms of board of commissioners and audit committee's effectiveness then assessment based on questions checklist scoring. Scoring components consisted of independence, activity, size, and competence.

This study used bond rating issued by PT Pefindo as a rating agency. Based on sample of 130 firm-year during 2010-2015, the results of ordered logit model showed strong evidence for a positive relationship between bond rating and corporate governance."

"[Penelitian ini bertujuan untuk menganalisis pengaruh peringkat corporate governance terhadap kinerja keuangan periode 2008-2012. Pengujian ini dilakukan menggunakan metode regresi data panel, dimana variabel dependen adalah kinerja keuangan yang diproksikan oleh earning per share, Return on Assets, dan Return on Equity sedangkan peringkat corporate governance sebagai variabel independen. Terdapat tiga model dalam penelitian ini, yaitu menggunakan nilai dari masing-masing variabel dependen. Hasil penelitian pada model pertama menunjukkan bahwa peringkat corporate governance tidak memiliki pengaruh yang signifikan terhadap kinerja keuangan perusahaan. Model kedua dan ketiga memiliki pengaruh yang signifikan terhadap kinerja keuangan.

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The aim of this study is to analyze the effect of the corporate governance rating on firm performance in 2008-2012. Hypotheses were tested using the estimation

method of panel data whereby the dependent variable is the firm performance, which uses earning per share, return on assets, and return on equity as indicator, while the corporate governance rating as the independent variable. There are three models in this study, which uses the value of each variable dependent. The results of the study on the first model indicate that the corporate governance rating do not have an influence on the firm performance while on the second and third models indicate that the corporate governance rating have an influence on the firm

performance.;The aim of this study is to analyze the effect of the corporate governance rating on

firm performance in 2008-2012. Hypotheses were tested using the estimation

method of panel data whereby the dependent variable is the firm performance,

which uses earning per share, return on assets, and return on equity as indicator,

while the corporate governance rating as the independent variable. There are three

models in this study, which uses the value of each variable dependent. The results

of the study on the first model indicate that the corporate governance rating do not

have an influence on the firm performance while on the second and third models

indicate that the corporate governance rating have an influence on the firm

performance., The aim of this study is to analyze the effect of the corporate governance rating on

firm performance in 2008-2012. Hypotheses were tested using the estimation

method of panel data whereby the dependent variable is the firm performance,

which uses earning per share, return on assets, and return on equity as indicator,

while the corporate governance rating as the independent variable. There are three

models in this study, which uses the value of each variable dependent. The results

of the study on the first model indicate that the corporate governance rating do not

have an influence on the firm performance while on the second and third models

indicate that the corporate governance rating have an influence on the firm

performance.]"

"Penelitian ini bertujuan untuk menganalisis dampak kepemilikan peringkat kredit terhadap struktur modal perusahaan di Association of South East Asian Nations (ASEAN) Six dan secara khusus di Indonesia periode 2018 hingga 2023. Negara ASEAN Six meliputi Indonesia, Singapura, Malaysia, Thailand, Filipina, dan Vietnam. Penelitian ini menggunakan fixed effect model. Hasil penelitian menunjukan bahwa kepemilikan credit rating berdampak positif dan signfikan terhadap struktur permodalan. Temuan ini mendukung teori signalling, yang menyatakan bahwa perusahaan yang memiliki peringkat kredit memberikan sinyal ke pasar atas kemampuannya dalam membayar kewajiban. Penelitian ini memberikan implikasi penting bagi regulator, perusahaan, dan investor dalam memahami peran peringkat kredit dalam pengambilan keputusan struktur modal dan meningkatkan transparansi serta efisiensi pasar keuangan di kawasan ASEAN Six dan Indonesia.

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This study aims to analyze the impact of credit rating ownership on the capital structure of companies in the Association of Southeast Asian Nations (ASEAN) Six and specifically in Indonesia for the period 2018 to 2023. The ASEAN Six countries include Indonesia, Singapore, Malaysia, Thailand, the Philippines and Vietnam. This research uses a fixed effect model. The research results show that ownership of a credit rating has a positive and significant impact on capital structure. These findings support the signaling theory which states that companies with credit ratings provide signals to the market regarding their ability to pay obligations. This research provides important implications for regulators, companies and investors in understanding the role of credit ratings in making capital structure decisions and increasing transparency and efficiency of financial markets in the ASEAN region."

"Penelitian ini bertujuan untuk menganalisis pengaruh mekanisme corporate governance yang diproksikan dengan kepemilikan institusional, kepemilikan block (lebih dari 5%), dewan komisaris independen, kepemilikan manajerial, ukuran dewan komisaris, komite audit, dan kualitas audit berpengaruh terhadap peringkat obligasi korporasi pada perusahaan yang terdaftar di bursa efek indonesia periode 2007 - 2011. Penelitian ini menggunakan data panel sejumlah 70 observasi dengan pengujian model menggunakan ordered probit. Penelitian ini membuktikan bahwa blockholder (dengan kepemilikan saham minimal 5%), ukuran dewan komisaris, ukuran perusahaan, dan return on asset berpengaruh signifikan terhadap peringkat obligasi. Penelitian tidak membuktikan adanya pengaruh signifikan di antara kepemilikan saham institusional, kepemilikan saham manajerial, persentase dewan komisaris independen, ukuran komite audit, kualitas audit, dan leverage terhadap peringkat obligasi.

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This study analyzes the effect of corporate governance mechanisms are proxied by institutional ownership, block ownership (more than 5%), independent board, managerial ownership, board size, audit committee, and audit quality effect on corporate bond ratings of companies listed on the Indonesian Stock Exchange in 2007-2011 period. This study uses panel data to test a number of 70 observations using an ordered probit models.

This study proves that blockholder (own at least 5% of shares), board size, firm size, and return on assets have significant effect on bond ratings. This study does not prove the existence of significant effect among institutional ownership, managerial ownership, the percentage of independent board, audit committee size, audit quality, and leveraged on bond rating."

"Penelitian ini bertujuan untuk mengetahui apakah mekanisme corporate governance mempengaruhi peringkat surat utang perusahaan di Indonesia. Secara lebih khusus, penelitian ini menguji apakah komponen corporate governance yaitu struktur dan pengaruh kepemilikan, transparansi dan pengungkapan laporan keuangan serta struktur dewan komisaris berpengaruh terhadap peringkat surat utang penasahaan di Indonesia.Penelitian ini menggunakan beberapa mekanisme corporate governance yang dikembangkan oleh BEJ dan klasifikasi peringkat surat utang yang dikeluarkan oleh Pefindo dan Kasnic. Sedangkan pengujian permasalahan penelitian dilakukan dengan menggunakan model ordered logit.Dengan menggunakan karakteristik perusahaan sebagai variabel kontrol, penelitian ini menemukan bahwa peringkat surat utang perusahaan: (1) berhubungan negatif dengan jumlah block holders dengan kepemilikan paling sedikit 5%; (2) berhubungan positif dengan persentase kepemilikan institusional dalam perusahaan; (3) berhubungan positif dengan ukuran kantor akuntan publik, dan (4) berhubungan positif dengan keberadaan komite audit. Data dalam penelitian ini tidak mendukung hubungan yang signifikan antara persentase kepemilikan saham oleh orang dalam, ukuran dewan komisaris dan persentase dewan komisaris independen dengan peringkat surat utang perusahaan.

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This research investigated whether corporate governance mechanism affects the firm's bond rating in Indonesia. Specifically, investigation on whether corporate governance components, which are represented by ownership structure and influence, financial transparency and disclosure and board structure, affect the firm's bond rating.

This research used several corporate governance mechanisms developed by Bursa Efek Jakarta and bond rating classification developed by Pefindo and Kasnic. Ordered logit model is selected to test the research problem.

Using firm's characteristic as controlling variable, this research found that the firm's bond rating is: (1) negatively associated with the number of block holders that own at least 5% ownership on the firm; (2) positively associated with percentage of institutional ownerships; (3) positively associated with the size of public accounting firm, and (4) positively associated with existence of audit committee. The relationship between percentage of insider, board size and percentage of independent board with bond rating is not supported by empirical data."

"This research investigated whether corporate governance mechanism affects the firm's bond rating in Indonesia. Specifically, investigation on whether corporate governance components, which are represented by ownership structure and influence, financial transparency and disclosure and board structure, affect the firm's bond rating.This research used several corporate governance mechanisms developed by Bursa Efek Jakarta and bond rating classification developed by Pefindo andKasnic. Ordered logit model is selected to test the research problem.Using firm s characteristic as controlling variable, this research found that the firm s bond rating is: (1) negatively associated with the number of block holders that own at least 5% ownership on the firm; (2) positively associated with percentage of institutional ownerships- (3) positively associated with the size of public accounting firm, and (4) positively associated with existence of audit committee. The relationship between percentage of insider, board size and percentage of independent board with bond rating is not supported by empirical data."

"Penelitian ini bertujuan untuk menguji secara empiris pengaruh karakteristik dan tata kelola perusahaan terhadap Corporate Social Responsibility CSR Expenditure pada perusahaan publik di Indonesia. Populasi pada penelitian ini adalah perusahan yang terdaftar di Bursa Efek Indonesia pada tahun 2013 hingga 2015. Kriteria pemilihan sampel adalah perusahaan non-finansial yang menjalankan kegiatan Corporate Social Responsibility CSR , memiliki data terkait ASEAN Corporate Governance Scorecard ACGS serta termasuk sebagai 100 perusahaan dengan nilai kapitalisasi terbesar pada tiap periode. Pengujian hipotesis dilakukan dengan menggunakan Fixed Effect Panel-Corrected Standard Errors Model.Hasil menunjukkan bahwa ukuran perusahaan, penjualan, Cash Flow from Operations CFO dan tata kelola perusahaan berpengaruh positif terhadap CSR Expenditure. Selain itu, tingkat profitabilitas dan leverage berpengaruh negatif terhadap CSR Expenditure, namun Market-To-Book MTB Ratio tidak berpengaruh terhadap CSR Expenditure perusahaan. Implikasi dari penelitian ini adalah untuk mendorong pihak perusahaan dalam meningkatkan kualitas praktik tata kelola perusahaan, dan menghimbau manajemen perusahaan untuk memperhatikan perubahan maupun perkembangan ukuran perusahaan, tingkat penjualan maupun tingkat Cash Flow from Operations CFO perusahaan.

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This research aims to empirically examine the impact of firm's characteristics and governance towards Corporate Social Responsibility CSR Expenditure on Indonesian public listed companies. This research is based on a sample of non financial companies listed in Indonesian Stock Exchange for the period of 2013 until 2015, which proven to run Corporate Social Responsibility CSR activities, included in the ASEAN Corporate Governance Scorecard ACGS and also included as the 100 largest capitalized companies in each period.

The fixed effect regression and Panel Corrected Standard Errors PCSE approach are used to test the hypothesis of this research, with results indicating that firm's size, sales, Cash Flow from Operations CFO and Corporate Governance CG have a significant and positive impact towards CSR Expenditure. On the other hand, firm's profitability and leverage have a significant but negative impact towards CSR Expenditure. However, firm's MTB Ratio known to have no significant impact towards CSR Expenditure. The implications of this research are to encourage the company to improve the quality of their corporate governance practices, and suggests the company 39 s management to pay attention to the change and development of company's size, sales level and Cash Flow from Operations CFO level."

"ABSTRAKPenelitian ini bertujuan untuk menganalisis pengaruh corporate governance dan kinerja keuangan terhadap credit rating. Penelitian ini adalah pengujian empiris dengan menggunakan model ordered logit, menggunakan sampel 57 perusahaan pada periode 2007, 2008 dan 2010. Hasil penelitian menunjukkan bahwa corporate governance dan kinerja keuangan berpengaruh positif dan signifikan terhadap credit rating. Semakin tinggi komitmen perusahaan dalam menerapkan prinsip-prinsip good corporate governance dan kinerja keuangannya, risiko ketidakmampuan membayar (default risk) perusahaan menjadi lebih rendah, sehingga kepercayaan kreditor terhadap perusahaan akan meningkat. Kepercayaan yang tinggi dari kreditor dapat meningkatkan credit rating suatu perusahaan.

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ABSTRACTThis research investigated whether the effect of corporate governance and financial performance on credit rating. This study is an empirical test using ordered logit models, using a sample of 57 companies in the period 2007, 2008 and 2010. This research found that corporate governance and financial performance have a positive and significant affect on credit rating. High commitment of the company in implementing the principles of good corporate governance and increasing financial performance, default risk of the company will be lower, so the creditors of the company's trust will be increase. The high trust of the creditors can improve a company's credit rating."