Analysis of the relationship between Good Corporate Governance (GCG) and financial performance before and after the covid 19 pandemic in pharmaceutical companies going public

Nurul Amalia Nandasari *, Ngatno and Hari Susanta Nugraha

Faculty of Social Science and Political Science, Universitas Diponegoro, Indonesia.
 
Research Article
World Journal of Advanced Research and Reviews, 2023, 18(03), 470–486
Article DOI: 10.30574/wjarr.2023.18.3.1080
 
Publication history: 
Received on 28 April 2023; revised on 08 June 2023; accepted on 10 June 2023
 
Abstract: 
This study aims to analyze the effect of the board of commissioners, audit committee, and managerial ownership simultaneously and partially on the company's financial performance. The board of commissioners, audit committee, and managerial ownership are used as independent variables. The company's financial performance used in this study uses ROA (Return On Assets) as the dependent variable. The population in this study are pharmaceutical companies listed on the Indonesia Stock Exchange in 2012-2020. The sample amounted to 7 companies listed on the Indonesia Stock Exchange. The analysis method used to test the hypothesis is to use multiple linear regression analysis using the SPSS program. The results of this study indicate that partially the board of commissioners has no effect on the company's Return On Assets (ROA) financial performance; The audit committee affects the company's Return On Assets (ROA) financial performance; and Managerial ownership affects the company's Return On Assets (ROA) financial performance. Furthermore, simultaneously the board of commissioners, audit committee, and managerial ownership affect the financial performance of the company's Return On Assets (ROA).
 
Keywords: 
Good Corporate Governance; Board of Commissioners; Audit Committee; Managerial Ownership; Financial Performance
 
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