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Pengaruh Struktur Kepemilikan Manajerial dan Good Corporate Governance terhadap Biaya Keageanan pada Perusahaan Manufaktur di Bursa Efek Indonesia

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(1)

N

1 PSDN 3744000 23760000 3744000 23760000 23472000 1440000000 2 STTP 96940000 11004000 55544000 55544000 41003000 1310000000 3

TBLA 4942098.93

9 4942098.939 4942098.939

4942098.93 9

4942098.93

9 4942098939 4 GGRM 15392704 16162339.2 17701609.6 17701609.6 17701609.6 1924088000 5 HDTX 56092098.6 36475189.8 36475189.8 36475189.8 36781704 1532571000 6

SSTM 89691643.2

6 87935279.49 93672734.48

67093096.0

8 34201474.64 34201474.64

34899463.9

2 1284300272 6979892784 8 AKRA 22639960.7 37863382.55 22249616.55 19517207.5 18736519.2 3903441500 9 LTLS 28392000 28392000 28392000 28392000 28392000 780000000 10 DUTI 231620000 239205000 105635000 105635000 106005000 1850000000 11 BRNA 20700000 2070000 2415000 24150000 2415000 690000000 12

LMPI 201703.533

8 201703.5338 201703.5338

201703.533 8

435377077.

7 1008517669 13 ALMI 9794400 9856000 9856000 9856000 9917600 616000000 14 BTON 17244000 17244000 17244000 17244000 17244000 180000000 15 CTBN 240111.45 43620246.75 240111.45 240111.45 80037.15 800371500 16 LION 119636.8 119636.8 119636.8 124838.4 114435.2 52016000 17 LMSH 60288 63072 63264 927168 465408 9600000 18 NIKL 3532690 757005 12112080 757005 419380770 2523350000 19

IKAI 237415.135

8 239789.2872 239789.2872

239789.287

6 16193421.26 16193421.26

16193421.2

3855786.4 3373813.1 3373813.1 3373813.1

795737918.

3 4819733000 23 BRAM 12645000 12645000 11250000 12496500 7438500 450000000 24

INTA 23976324.3

4 24840336.03 24408330.19

24840336.0

2 3642333.332 3419333.332

3270666.66

8 22994226.08 22924121.73

23134434.7 7

23274643.4

7 701043478 27 PYFA 18460260 18513768 18406752 18513768 18674292 535080000 28

SMGR

1063139715 1059090360 1059090360

105909036

(2)

No Kode Emiten

Proporsi Kepemilikan Manajerial Rata-rata

2010 2011 2012 2013 2014

(3)

N o

Emite

n Kepemilik Instusional Listed Share

2010 2011 2012 2013 2014

1 PSDN 1330560000 1310644800 1310688000 1310688000 1311019200 1440000000 2 STTP 743556000 989705000 743556000 743556000 742377000 1310000000 3 TBLA 2713706527 2795745370 2853073717 2900023657 2896564188 4942098939 4

GGR

M 1405738693 1453648484 1453648484 1453648484 1458266295 1924088000 5 HDTX 366131212 366284469 367510525.8 365962629.1 365533509.2 1532571000 6 SSTM 814133154 629246593.9 620581865.9 650088777.3 822095336 1170909181 7 BRPT 5038784601 5045764494 5040180579 5040180579 4718407522 6979892784 8 AKRA 2318253907 2329573887 2311618056 2311618056 2302640141 3903441500 9 LTLS 491634000 491634000 491634000 491634000 517764000 780000000 10 DUTI 485902500 483201500 483497500 485625000 485273500 1850000000 11 BRNA 354798000 411654000 354798000 354798000 355902000 690000000 12 LMPI 781903749 781601193.5 781903748.8 839792663 838784145.3 1008517669 13 ALMI 498467200 516392800 516392800 516392800 468714400 616000000 14 BTON 68598000 68922000 68745600 68598000 68036400 180000000 15 CTBN 647660618 647660617.8 647660617.8 647660617.8 658865818.8 800371500 16 LION 30013232 30013232 30013232 30013232 30013232 52016000 17 LMSH 2452800 3093120 3093120 3093120 3099840 9600000 18 NIKL 2018680000 1766345000 2018680000 2021455685 2015904315 2523350000 19 IKAI 399530104 400835887.6 400440195.7 396135067.9 401302804 791383786 20 IKBI 40835700 40840902 40835700 41172300 41335398 306000000 21 ASII 2.0286E+10 20286308478 20286308478 20286308478 1.03055E+11 40483553140 22 AUTO 3646609988 3636970522 3641115492 3641308282 3652586457 4819733000 23 BRAM 255465000 251010000 255091500 255006000 256927500 450000000 24 INTA 987133354 987133353.5 989293382.8 991453412 1002253558 2160029220 25 NIPS 551702000 551701999.8 551701999.8 551701999.8 1547025333 1486666666 26 PRAS 317152069 317152069.4 317152069.4 317152069.4 1262158678 701043478 27 PYFA 288140580 288140580 288140580 288140580 75446280 535080000 28 SMGR 1844665204 1792759837 1881477521 1881477521 9735753474 3681231699 29 AMFG 351192800 363822200 363822200 363822200 516850600 434000000 30 SMCB 6120358230 6120358230 6270551070 6270551070 5908095900 7662900000

(4)

No

Kode Emiten

Proporsi Kepemilikan Institusional

Rata - rata

2010 2011 2012 2013 2014

1 PSDN 0.924 0.91017 0.9102 0.9102 0.91043 0.913

2 STTP 0.5676 0.7555 0.5676 0.5676 0.5667 0.605

3 TBLA 0.5491 0.5657 0.5773 0.5868 0.5861 0.573

4 GGRM 0.7306 0.7555 0.7555 0.7555 0.7579 0.751

5 HDTX 0.2389 0.239 0.2398 0.23879 0.23851 0.239

6 SSTM 0.6953 0.5374 0.53 0.5552 0.7021 0.604

7 BRPT 0.7219 0.7229 0.7221 0.7221 0.676 0.713

8 AKRA 0.5939 0.5968 0.5922 0.5922 0.5899 0.593

9 LTLS 0.6303 0.6303 0.6303 0.6303 0.6638 0.637

10 DUTI 0.26265 0.26119 0.26135 0.2625 0.26231 0.262

11 BRNA 0.5142 0.5966 0.5142 0.5142 0.5158 0.531

12 LMPI 0.7753 0.775 0.7753 0.8327 0.8317 0.798

13 ALMI 0.8092 0.8383 0.8383 0.8383 0.7609 0.817

14 BTON 0.3811 0.3829 0.38192 0.3811 0.37798 0.381

15 CTBN 0.8092 0.8092 0.8092 0.8092 0.8232 0.812

16 LION 0.577 0.577 0.577 0.577 0.577 0.577

17 LMSH 0.2555 0.3222 0.3222 0.3222 0.3229 0.309

18 NIKL 0.8 0.7 0.8 0.8011 0.7989 0.78

19 IKAI 0.50485 0.5065 0.506 0.50056 0.50709 0.505

20 IKBI 0.13345 0.133467 0.13345 0.13455 0.135083 0.134

21 ASII 0.5011 0.5011 0.5011 0.5011 2.5456 0.91

22 AUTO 0.7566 0.7546 0.75546 0.7555 0.75784 0.756

23 BRAM 0.5677 0.5578 0.56687 0.56668 0.57095 0.566

24 INTA 0.457 0.457 0.458 0.459 0.464 0.459

25 NIPS 0.3711 0.3711 0.3711 0.3711 1.0406 0.505

26 PRAS 0.4524 0.4524 0.4524 0.4524 1.8004 0.722

27 PYFA 0.5385 0.5385 0.5385 0.5385 0.141 0.459

28 SMGR 0.5011 0.487 0.5111 0.5111 2.6447 0.931

29 AMFG 0.8092 0.8383 0.8383 0.8383 1.1909 0.903

30 SMCB 0.7987 0.7987 0.8183 0.8183 0.771 0.801

(5)

No Emiten

Proporsi Dewan Komisaris

Rata - rata

2010 2011 2012 2013 2014

1 PSDN 0.50 0.33 0.33 0.33 0.35 0.37

2 STTP 1.00 0.25 0.50 0.50 0.50 0.55

3 TBLA 0.50 0.33 0.33 0.33 0.35 0.37

4 GGRM 0.67 0.50 0.50 0.50 0.48 0.53

5 HDTX 0.33 0.25 0.25 0.25 0.32 0.28

6 SSTM 0.40 0.33 0.33 0.33 0.35 0.35

7 BRPT 0.25 0.20 0.20 0.33 0.32 0.26

8 AKRA 0.50 0.33 0.33 0.33 0.35 0.37

9 LTLS 0.33 0.50 0.40 0.50 0.52 0.45

10 DUTI 0.67 0.67 0.67 0.67 0.68 0.67

11 BRNA 0.25 0.25 0.25 0.33 0.32 0.28

12 LMPI 0.50 0.50 0.50 0.50 0.50 0.50

13 ALMI 0.40 0.40 0.40 0.50 0.50 0.44

14 BTON 0.50 0.50 0.50 0.50 0.50 0.50

15 CTBN 0.50 0.33 0.40 0.40 0.32 0.39

16 LION 0.33 0.33 0.50 0.33 0.35 0.37

17 LMSH 0.33 0.33 0.33 0.33 0.32 0.33

18 NIKL 0.33 0.33 0.40 0.33 0.35 0.35

19 IKAI 0.50 0.50 0.50 0.50 0.50 0.50

20 IKBI 0.20 0.20 0.20 0.20 0.35 0.23

21 ASII 0.36 0.36 0.40 0.40 0.37 0.38

22 AUTO 0.40 0.44 0.44 0.44 0.37 0.42

23 BRAM 0.43 0.50 0.43 0.43 0.41 0.44

24 INTA 0.33 0.33 0.33 0.33 0.32 0.33

25 NIPS 0.33 0.33 0.25 0.33 0.35 0.32

26 PRAS 0.33 0.33 0.33 0.33 0.32 0.33

27 PYFA 0.33 0.33 0.33 0.33 0.32 0.33

28 SMGR 0.36 0.36 0.40 0.40 0.37 0.38

29 AMFG 0.50 0.50 0.50 0.50 0.50 0.50

30 SMCB 0.40 0.40 0.40 0.50 0.50 0.44

(6)

No Kode Emiten

Total Hutang

2010 2011 2012 2013 2014

(7)

No Kode Emiten

Total Aset

2010 2011 2012 2013 2014

(8)

No.

Kode Emiten

DAR

2010 2011 2012 2013 2014

1 PSDN 0.47 0.51 0.53 0.51 0.40

2 STTP 0.42 0.26 0.31 0.48 0.54

3 TBLA 0.67 0.66 0.62 0.66 0.71

4 GGRM 0.38 0.31 0.37 0.36 0.42

5 HDTX 0.52 0.50 0.46 0.44 0.53

6 SSTM 0.64 0.64 0.63 0.65 0.65

7 BRPT 0.59 0.51 0.49 0.54 0.86

8 AKRA 0.62 0.63 0.57 0.64 0.63

9 LTLS 0.72 0.69 0.72 0.76 0.72

10 DUTI 0.28 0.34 0.32 0.31 0.22

11 BRNA 0.65 0.59 0.60 0.61 0.73

12 LMPI 0.40 0.26 0.34 0.41 0.50

13 ALMI 0.70 0.66 0.71 0.69 0.76

14 BTON 0.21 0.19 0.22 0.22 0.21

15 CTBN 0.49 0.59 0.41 0.47 0.45

16 LION 0.17 0.14 0.17 0.14 0.17

17 LMSH 0.31 0.40 0.42 0.24 0.22

18 NIKL 0.59 0.47 0.52 0.61 0.65

19 IKAI 0.45 0.47 0.47 0.51 0.57

20 IKBI 0.19 0.12 0.18 0.18 0.25

21 ASII 0.50 0.48 0.51 0.51 0.50

22 AUTO 0.30 0.27 0.27 0.32 0.38

23 BRAM 0.76 0.17 0.19 0.28 0.26

24 INTA 0.81 0.66 0.73 0.86 0.88

25 NIPS 0.99 0.60 0.56 0.63 0.59

26 PRAS 0.65 0.81 0.70 0.71 0.51

27 PYFA 0.32 0.27 0.23 0.30 0.35

28 SMGR 0.50 0.51 0.51 0.50 0.49

29 AMFG 0.21 0.22 0.20 0.21 0.22

30 SMCB 0.37 0.35 0.31 0.31 0.41

(9)

Hasil Olahan Spss

(10)

One-Sample Kolmogorov-Smirnov Test

Unstandardized

Residual

N 31

Normal Parametersa,b Mean 0E-7

Std. Deviation .41582328

Most Extreme Differences

Absolute .074

Positive .074

Negative -.067

Kolmogorov-Smirnov Z .414

Asymp. Sig. (2-tailed) .995

a. Test distribution is Normal.

b. Calculated from data.

(11)

Hasil Uji Glejser

Coefficientsa

Model Unstandardized Coefficients Standardized

Coefficients

T Sig.

B Std. Error Beta

1

(Constant) .632 .221 2.865 .008

Kepemilikan_Manajerial -.600 .718 -.161 -.836 .411

Kepemilikan_Institusional .081 .220 .069 .366 .717

KMSRIS -.816 .475 -.316 -1.717 .097

a. Dependent Variable: absut

C.

Uji Autokorelasi (Tanpa variabel kontrol)

Model Summaryb

Model R R Square Adjusted R

Square

Std. Error of the

Estimate

Durbin-Watson

1 .634a .402 .335 .438316 1.853

a. Predictors: (Constant), KMSRIS, Kepemilikan_Institusional, Kepemilikan_Manajerial

b. Dependent Variable: ATO

D.

Uji Multikolinearitas (Tanpa variabel kontrol)

Coefficientsa

Model Unstandardized

Coefficients

Standardized

Coefficients

t Sig. Collinearity

Statistics

B Std. Error Beta Tolerance VIF

1

(Constant) 1.140 .400 2.850 .008

Kepemilikan_Manajerial 3.094 1.302 .382 2.375 .025 .856 1.168

Kepemilikan_Institusional .956 .400 .377 2.390 .024 .892 1.122

KMSRIS -1.922 .862 -.342 -2.228 .034 .940 1.064

(12)

E.

Uji Signifikansi Simultan Uji f (Tanpa variabel kontrol)

ANOVAa

Model Sum of Squares df Mean Square F Sig.

1

Regression 3.486 3 1.162 6.049 .003b

Residual 5.187 27 .192

Total 8.673 30

a. Dependent Variable: ATO

b. Predictors: (Constant), KMSRIS, Kepemilikan_Institusional, Kepemilikan_Manajerial

F.

Uji Signifikansi Parsial uji t (Tanpa variabel kontrol)

Coefficientsa

Model Unstandardized

Coefficients

Standardized

Coefficients

t Sig.

B Std. Error Beta

1

(Constant) 1.140 .400 2.850 .008

Kepemilikan_Manajerial 3.094 1.302 .382 2.375 .025

Kepemilikan_Institusional .956 .400 .377 2.390 .024

KMSRIS -1.922 .862 -.342 -2.228 .034

a. Dependent Variable: ATO

(13)

One-Sample Kolmogorov-Smirnov Test

Unstandardized

Residual

N 31

Normal Parametersa,b Mean 0E-7

Std. Deviation .36133756

Most Extreme Differences

Absolute .099

Positive .070

Negative -.099

Kolmogorov-Smirnov Z .554

Asymp. Sig. (2-tailed) .919

a. Test distribution is Normal.

(14)

H.

Uji Heterokedastisitas (Dengan variabel kontrol)

I.

Uji Glejser (Dengan variabel kontrol)

Coefficientsa

Model Unstandardized Coefficients Standardized

Coefficients

t Sig.

B Std. Error Beta

1

(Constant) .361 .326 1.105 .280

Kepemilikan_Manajerial -1.114 .721 -.344 -1.545 .135

Kepemilikan_Institusional .147 .212 .145 .690 .496

KMSRIS -.525 .472 -.234 -1.114 .276

DAR -.272 .247 -.256 -1.102 .281

SIZE .011 .015 .158 .753 .459

a. Dependent Variable: absut

J.

Uji Autokorelasi (Dengan variabel kontrol)

Model Summaryb

Model R R Square Adjusted R

Square

Std. Error of the

Estimate

Durbin-Watson

1 .741a .548 .458 .395825 1.931

a. Predictors: (Constant), SIZE, Kepemilikan_Institusional, KMSRIS,

Kepemilikan_Manajerial, DAR

(15)

K.

Uji Multikolinearitas (Dengan variabel kontrol)

Coefficientsa

Model Unstandardized

Coefficients

Standardized

Coefficients

T Sig. Collinearity

Statistics

B Std. Error Beta Tolerance VIF

1

(Constant) .717 .587 1.220 .234

Kepemilikan_Manajerial 1.557 1.298 .192 1.199 .242 .702 1.424

Kepemilikan_Institusional 1.279 .382 .504 3.344 .003 .796 1.257

KMSRIS -2.881 .849 -.513 -3.393 .002 .791 1.265

DAR -1.121 .445 -.420 -2.517 .019 .647 1.545

SIZE .059 .027 .335 2.220 .036 .795 1.258

a. Dependent Variable: ATO

L.

Uji Signifikansi Simultan Uji f (Dengan variabel kontrol)

ANOVAa

Model Sum of Squares df Mean Square F Sig.

1

Regression 4.757 5 .951 6.072 .001b

Residual 3.917 25 .157

Total 8.673 30

a. Dependent Variable: ATO

b. Predictors: (Constant), SIZE, Kepemilikan_Institusional, KMSRIS, Kepemilikan_Manajerial,

DAR

M.

Uji Signifikansi Parsial uji t (Dengan variabel kontrol)

Coefficientsa

Model Unstandardized

Coefficients

Standardized

Coefficients

t Sig.

B Std.

Error

Beta

1

(Constant) .717 .587 1.220 .234

Kepemilikan_Manajerial 1.557 1.298 .192 1.199 .242

Kepemilikan_Institusional 1.279 .382 .504 3.344 .003

(16)

-DAR -1.121 .445 -.420

-2.517 .019

SIZE .059 .027 .335 2.220 .036

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