PENGARUH MEKANISME GOOD CORPORATE GOVERNANCE TERHADAP KUALITAS LABA DENGAN FINANCIAL DISTRESS SEBAGAI VARIABEL MODERASI
DOI:
https://doi.org/10.31959/jm.v15i3.3994Abstract
Introduction: This study aims to analyze the impact of Good Corporate Governance (GCG) mechanisms comprising managerial ownership, institutional ownership, independent commissioners, and audit committees on earnings quality, as measured by the absolute value of discretionary accruals. It also examines the role of financial distress as a moderating variable within manufacturing companies listed on the Indonesia Stock Exchange during the 2020–2024 period.
Methods: The sample consists of 66 manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the 2020-2024 period (237 observations after outlier treatment), selected through purposive sampling. Data were analyzed using panel data regression and Moderated Regression Analysis (MRA).
Results: Results show that simultaneously all GCG variables have a significant effect on earnings quality. Partially, only managerial ownership has a significant negative effect. Financial distress does not moderate the effect of any GCG variable on earnings quality, suggesting that GCG effectiveness is limited and not contingent on financial distress conditions.
Conclusion and suggestion: These findings indicate that GCG effectiveness in improving earnings quality remains limited, and companies are advised to strengthen managerial ownership as the most effective governance mechanism.
Keywords: Discretionary Accruals, Earnings Quality, Financial Distress, Good Corporate Governance, Managerial Ownership.
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