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Good Corporate Governance and Company's Financial Performance with a Perspective Agency Theory in Companies Listed in The LQ45 Index

Management Analysis Journal · Vol. 14 No. 1 (2025) · pp. 1–13

DOI
10.15294/maj.v14i1.20099
ISSN
2502-1451, 2252-6552
Published
2025-02-11
Publisher
Universitas Negeri Semarang
Language
eng

Abstract

This study examines the impact of good corporate governance on the company's financial performance. The population in this study are companies listed in the LQ45 Index for the 2017-2021 period. This study used a purposive sampling technique and obtained 28 companies, with as many as 140 observations. The result shows that managerial ownership has no significant effect on the company’s financial performance. The variable size of the board of directors has a significant positive effect on the company's financial performance. The independent commissioner variable has no significant effect on the company's financial performance. Audit committee meeting variables and gender diversity have no significant effect on the company's financial performance. Firm size as a control variable has no significant effect on company finances, and leverage as a control variable has a significant negative effect on the company's financial performance. Further researchers are also advised to examine other factors related to good corporate governance

Collaboration network of the authors

28 authors · 79 co-authorship links

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Co-authorOrganisationJoint articles
Vitradesie NoekentAffiliation unknown3
Anindya ArdiansariAffiliation unknown2
Sugeng HaryantoAffiliation unknown2
Vini Wiratno PutriAffiliation unknown2
Achmad Nauval WaliuddinAffiliation unknown2
Gavida Novi WidodoAffiliation unknown1
Dwi CahyaningdyahAffiliation unknown1
Ervina Dwi SeptianiAffiliation unknown1
Erisa Aprilia WicaksariAffiliation unknown1
Syam WidiaAffiliation unknown1
Farid AhmadiAffiliation unknown1
Eko AristantoAffiliation unknown1
Muhammad Umar AriefudinAffiliation unknown1
Yanuar BachtiarAffiliation unknown1
kris Brantas AbiprayuAffiliation unknown1
Made Virma PermanaAffiliation unknown1
Altista Pradita PrismantiAffiliation unknown1
Hanina HumairaAffiliation unknown1
Fryza Naufal LaksmanaAffiliation unknown1
Rizkia Duwi PutriAffiliation unknown1
Anggita Dhea NovalindaAffiliation unknown1
Adellia Eky AryadiAffiliation unknown1
Retna SafrilianaAffiliation unknown1
Muhammad Umar AriefudinAffiliation unknown1
Lidia Khusnul KhotimahAffiliation unknown1

Affiliations come from OpenAlex; journal OAI-PMH metadata carries none. Authors without an OpenAlex ID are matched by name, which can merge or split people.

Metadata source: OAI-PMH (metadata jurnal) https://journal.unnes.ac.id/journals/maj/oai, first harvested 6 Nov 2026, last seen 6 Nov 2026.
Original metadata (oai_dc) 
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	<dc:title xml:lang="en">Good Corporate Governance and Company's Financial Performance with a Perspective Agency Theory in Companies Listed in The LQ45 Index</dc:title>
	<dc:creator xml:lang="en">Eka Oktafia</dc:creator>
	<dc:creator xml:lang="en">Siti Ridloah</dc:creator>
	<dc:creator xml:lang="en">Mochamad Akbar</dc:creator>
	<dc:description xml:lang="en">This study examines the impact of good corporate governance on the company's financial performance. The population in this study are companies listed in the LQ45 Index for the 2017-2021 period. This study used a purposive sampling technique and obtained 28 companies, with as many as 140 observations. The result shows that managerial ownership has no significant effect on the company’s financial performance. The variable size of the board of directors has a significant positive effect on the company's financial performance. The independent commissioner variable has no significant effect on the company's financial performance. Audit committee meeting variables and gender diversity have no significant effect on the company's financial performance. Firm size as a control variable has no significant effect on company finances, and leverage as a control variable has a significant negative effect on the company's financial performance. Further researchers are also advised to examine other factors related to good corporate governance</dc:description>
	<dc:publisher xml:lang="en">Universitas Negeri Semarang</dc:publisher>
	<dc:date>2025-02-11</dc:date>
	<dc:type>info:eu-repo/semantics/article</dc:type>
	<dc:type>info:eu-repo/semantics/publishedVersion</dc:type>
	<dc:type xml:lang="en">Peer-reviewed Article</dc:type>
	<dc:format>application/pdf</dc:format>
	<dc:identifier>https://journal.unnes.ac.id/journals/maj/article/view/20099</dc:identifier>
	<dc:identifier>10.15294/maj.v14i1.20099</dc:identifier>
	<dc:source xml:lang="en">Management Analysis Journal; Vol. 14 No. 1 (2025): Management Analysis Journal; 1-13</dc:source>
	<dc:source>2502-1451</dc:source>
	<dc:source>2252-6552</dc:source>
	<dc:source>10.15294/maj.v14i1</dc:source>
	<dc:language>eng</dc:language>
	<dc:relation>https://journal.unnes.ac.id/journals/maj/article/view/20099/3006</dc:relation>
	<dc:rights xml:lang="en">Copyright (c) 2025 Management Analysis Journal</dc:rights>
</oai_dc:dc>