Open AccessPERAN MEDIASI KINERJA KEUANGAN PADA HUBUNGAN DEWAN DIREKSI DENGAN REAKSI INVESTOR
Author(s) -
Fransiskus Eduardus Daromes,
Robert Jao
Publication year - 2020
Publication title -
jurnal akuntansi
Language(s) - English
Resource type - Journals
ISSN - 2303-0364
DOI - 10.33369/j.akuntansi.10.1.77-92
Subject(s) - sobel test , stock exchange , nonprobability sampling , business , path analysis (statistics) , accounting , population , mediation , business administration , financial system , statistics , finance , mathematics , medicine , political science , environmental health , law
This study aimed to investigate the effect of the board of directors on the reaction of investors are tested both directly and through financial performance. The population used is all manufacturing companies listed on the Indonesia Stock Exchange (IDX) with a research period of 2015-2018. The number of samples is 32 companies every year which are selected by the method of purposive sampling and using secondary data from annual reports. The analytical method used is path analysis and mediation hypothesis testing is carried out using the sobel test. The analysis shows that the board of directors has a positive but not significant effect on investor reaction. Further results show that the board of directors has a positive and significant effect on financial performance. Financial performance has a positive and significant impact on investor reaction. This study also shows that financial performance plays a role in mediating the influence of the board of directors on investor reaction