Internal GCG Factor and Performance in Indonesian State-Owned Enterprises

Abstract

Company management based on the principles of Good Corporate Governance (GCG) is an effort to make GCG the basis for company management guidelines in order to manage company management. The application of GCG principles is currently very much needed so that companies can survive and be resilient in facing increasingly tight competition, and to be able to apply business ethics consistently in order to create a healthy, efficient, and transparent business climate. This study aims to examine the effect of institutional ownership, managerial ownership, board of commissioners, audit committee on the financial performance of state-owned companies listed on the IDX for the period 2019 - 2024. Based on the purposive sampling method, a sample of 27 companies was generated with data sources derived from financial reports. The data analysis technique used multiple linear regression analysis with the SPSS 26 program tool. The results of this study indicate that: institutional ownership has a negative effect, managerial ownership and audit committee have a positive effect