Pengaruh Political Connections dan Kompensasi Direksi terhadap Kinerja Perusahaan

Abstract

Abstract. The purpose of this study is to determine the effect of political connections on company performance and to determine the effect of directors' compensation on company performance. The sample used in this study was 42 manufacturing companies listed on the Indonesia Stock Exchange (IDX) with a range of observations from 2018 to 2020. Based on the sample and range of observations, 126 observations (firm-year) were obtained in this study. The research method used is a verification research method with a quantitative approach. For the purpose of testing the hypothesis submitted using multiple linear regression analysis. The results showed that political connections had no significant effect on company performance. This study also obtained the results that the compensation of directors has a positive and significant effect on company performance. To develop for further research it is recommended to use other industrial sectors and use other indicators of company performance besides political connections and directors' compensation. Because in this study, the magnitude of the influence of political connections and directors' compensation is only 3%. This means that many other indicators can affect the company's performance, such as earnings management, foreign ownership, multiple positions, and others.

Abstrak. Dalam penelitian ini bertujuan untuk mengetahui pengaruh political connections terhadap kinerja perusahaan serta mengetahui pengaruh kompensasi direksi terhadap kinerja perusahaan. Sampel yang digunakan dalam penelitian ini sebanyak 42 perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia (BEI) dengan rentang pengamatan 2018-2020. Berdasarkan sampel dan rentang pengamatan, maka diperoleh 126 pengamatan (firm year) dalam penelitian ini. Metode penelitian yang digunakan adalah metode penelitian verifikatif dengan pendekatan kuantitatif. Untuk kegunaan pengujian hipotesis yang diajukan menggunakan analisis regresi linear berganda. Hasil penelitian menunjukkan bahwa political connections tidak berpengaruh secara signifikan terhadap kinerja perusahaan. Dalam penelitian ini juga diperoleh hasil bahwa kompensasi direksi berpengaruh positif dan siginifikan terhadap kinerja perusahaan. Untuk kepentingan penelitian selanjutnya disarankan untuk menggunakan sektor industri lain dan menggunakan indikator lain untuk kinerja perusahaan selain, political connections dan kompensasi direksi. Karena dalam penelitian ini, besaran pengaruh political connections dan kompensasi direksi hanya sebesar 3%. Yang artinya masih banyak lagi indikator lain yang dapat mempengaruhi kinerja perusahaan, seperti earnings management, foreign ownership, dan lain-lain.