MANAGERIAL OVERCONFIDENCE SEBAGAI PEMODERASI PENGARUH CORPORATE GOVERNANCE TERHADAP KINERJA PERUSAHAAN
DOI:
https://doi.org/10.30997/jakd.v11i2.20791Abstract
Penelitian ini bertujuan untuk menganalisis pengaruh Corporate Governance terhadap kinerja perusahaan dengan Managerial Overconfidence sebagai variabel moderasi pada perusahaan perbankan yang terdaftar di Bursa Efek Indonesia (BEI) selama periode 2019–2023. Penelitian ini menggunakan metode kuantitatif dengan memanfaatkan data sekunder dan dianalisis menggunakan regresi data panel dengan pendekatan moderasi. Corporate Governance dan Managerial Overconfidence diukur menggunakan indikator yang mencerminkan mekanisme pengawasan dan perilaku manajerial, sedangkan kinerja perusahaan diproksikan dengan Tobin’s Q sebagai indikator nilai pasar. Hasil penelitian menunjukkan bahwa Corporate Governance tidak berpengaruh signifikan secara langsung terhadap kinerja perusahaan. Namun, Managerial Overconfidence terbukti memoderasi hubungan tersebut, dengan memperkuat pengaruh mekanisme pengawasan tertentu dan melemahkan mekanisme lainnya terhadap kinerja perusahaan. Temuan ini mengindikasikan bahwa efektivitas Corporate Governance tidak hanya ditentukan oleh struktur formal, tetapi juga dipengaruhi oleh Managerial Oveconfidece, sehingga pemahaman terhadap aspek perilaku menjadi penting dalam meningkatkan nilai perusahaan perbankan.
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