Pengawasan Manajemen Risiko dan Financial Distress dalam Agency Theory
Abstract
This study aims to examine the effect of the characteristics of the risk committee as the supervisor of risk management activities on financial distress. The characteristics in question are the number of members, gender diversity, meeting attendance ratio, financial expertise of members, and independence of members. The analytical tool used is logistic regression. The results showed that the number of members, meeting attendance ratio, and independence had no significant effect on financial distress. Gender diversity has a negative effect on financial distress, and financial expertise has a positive effect on financial distress. The conclusion of this study is that women are better at monitoring and managing risk, so they can prevent financial distress, while financial expertise is not a relevant skill for monitoring and managing risk in non-financial companies.
Keywords: Financial Distress; Risk Management; Agency Theory.
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References
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Chou, T.-K., & Buchdadi, A. D. (2017). Independent Board, Audit Committee, Risk Committee, the Meeting Attendance level and Its Impact on the Performance: A Study of Listed Banks in Indonesia. International Journal of Business Administration, 8(3), 24. https://doi.org/10.5430/ijba.v8n3p24
Elamer, A. A., & Benyazid, I. (2018). The impact of risk committee on financial performance of UK financial institutions. International Journal of Accounting and Finance, 8(2), 161. https://doi.org/10.1504/ijaf.2018.10014470
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Kallamu, B. S. (2015). Risk Management Committee Attributes and Firm Performance. International Finance and Banking, 2(2), 1. https://doi.org/10.5296/ifb.v2i2.8580
Kevin, A. (2018). Menyimak Timbunan Utang Perusahaan Bakrie. https://www.cnbcindonesia.com/market/20180118165115-17-1927/menyimak-timbunan-utang-perusahaan-bakrie
Kipkoech, S. R., & Rono, L. (2016). Audit Committee Size, Experience and Firm Financial Performance. Evidence Nairobi Securities Exchange, Kenya. Research Journal of Finance and Accounting, 7(15), 87–95. www.iiste.org
Kuo, K. C., Kweh, Q. L., Ting, I. W. K., & Azizan, N. A. (2017). Dynamic network performance evaluation of general insurance companies: an insight into risk management committee structure. Total Quality Management and Business Excellence, 28(5–6), 542–558. https://doi.org/10.1080/14783363.2015.1100516
Lin, Y. fen, Yeh, Y. M. C., & Yang, F. ming. (2014). Supervisory quality of board and firm performance: A perspective of board meeting attendance. Total Quality Management and Business Excellence, 25(3–4), 264–279. https://doi.org/10.1080/14783363.2012.756751
Malik, M. F., Zaman, M., & Buckby, S. (2020). Enterprise risk management and firm performance: Role of the risk committee. Journal of Contemporary Accounting and Economics, 16(1), 100178. https://doi.org/10.1016/j.jcae.2019.100178
Masulis, R. W., Wang, C., & Xie, F. (2012). Globalizing the boardroom-The effects of foreign directors on corporate governance and firm performance. Journal of Accounting and Economics, 53(3), 527–554. https://doi.org/10.1016/j.jacceco.2011.12.003
Perryman, A. A., Fernando, G. D., & Tripathy, A. (2016). Do gender differences persist? An examination of gender diversity on firm performance, risk, and executive compensation. Journal of Business Research, 69(2), 579–586. https://doi.org/10.1016/j.jbusres.2015.05.013
Pletzer, J. L., Nikolova, R., Kedzior, K. K., & Voelpel, S. C. (2015). Does gender matter? female representation on corporate boards and firm financial performance - A meta-analysis. PLoS ONE, 10(6), 1–20. https://doi.org/10.1371/journal.pone.0130005
Tao, N. B., & Hutchinson, M. (2013). Corporate governance and risk management: The role of risk management and compensation committees. Journal of Contemporary Accounting and Economics, 9(1), 83–99. https://doi.org/10.1016/j.jcae.2013.03.003
Tuan-Hock Ng, Lee-Lee Chong, & Hishamuddin Ismail. (2013). Is the risk management committee only a procedural compliance? An insight into managing risk taking among insurance companies in Malaysia. The Journal of Risk Finance, 14(1), 71–86. https://doi.org/DOI 10.1108/15265941311288112
Wu, Y. C., Kweh, Q. L., Lu, W. M., & Azizan, N. A. (2016). The impacts of risk-management committee characteristics and prestige on efficiency. Journal of the Operational Research Society, 67(6), 813–829. https://doi.org/10.1057/jors.2015.101
Published
2022-07-26
How to Cite
MOKOGINTA, Dirgantara Dahana; AGUNG, Tauchita Ramadhania.
Pengawasan Manajemen Risiko dan Financial Distress dalam Agency Theory.
E-Jurnal Akuntansi, [S.l.], v. 32, n. 7, p. 1675-1687, july 2022.
ISSN 2302-8556.
Available at: <https://ojs.unud.ac.id/index.php/akuntansi/article/view/85795>. Date accessed: 19 oct. 2024.
doi: https://doi.org/10.24843/EJA.2022.v32.i07.p01.
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