Pengaruh Struktur Kepemilikan, Board Composition, dan Agency Cost terhadap Financial Distress

Abstract

The purpose of this reseach is to examine the influence of insider ownership, institutional ownership, blockholder ownership, board of commisioner size, independent board, and agency cost on the financial distress in companies delisted 2008-2010. Logistic regression is used to analysis the reseach problem. The sample used of 36 companies consisting of 18 financial distress firms and 18 non financial distress firms. The results of this study showed that institutional ownership, blockholder ownership, and board of commissioner size have a negative effect on financial distress. While the administrative cost ratio has a positive effect on financial distress. Meanwhile, insider ownership and independent board have not significance on financial distress.
Keywords: corporate governance, agency cost, financial distress.