Pengaruh Implementasi Good Corporate Governance Terhadap Return Saham Melalui Profitabilitas Dan Likuiditas

Abstract

business viability depends not only on the financial strength alone, but required a system that can ensure good asset management and proper. Implementation of GCG is the direction in conducting the business of a company policy based on the principles of transparency, accountability and responsibility, responsiveness, independence and fairness. This study aims to determine the impact on stock returns, GCG to GCG profitability, liquidity, profitability with GCG stock return liquidity with the stock return. The sample consisted of 45 nonbank companies that fall into the CGPI score listed in Indonesia stock exchange during the five years from 2004-2008. Analysis of analysis Methods, descriptive analysis and statistical tests. Statistical validation is done with normality test data, test, test the autocorrelation multicollinearity. In the analysis were used two lines, partial regression tests (T- test)and tests of F (F-Test). Based on the results of the regression tests together and partly in the regression equation has a positive impact on the profitability of the GCG, proxy with ROA and EPS. These results prove that internally GCG contributed to improving corporate performance can be seen from the ratio of ROA and EPS.