Does Good Corporate Governance Improve Earnings Quality?
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Abstract
Earnings quality reflects a company's actual financial condition and serves as a guide for investors, creditors, and external parties in assessing the company's performance. Low earnings quality can undermine investor confidence and potentially lead to erroneous investment decisions. This study aims to analyze the effect of Good Corporate Governance mechanisms-namely, independent commissioners, audit committees, institutional ownership, managerial ownership, and audit quality-on earnings quality in energy sector companies listed on the Indonesia Stock Exchange. This study employs an explanatory quantitative approach using purposive sampling. Data were analyzed using panel data regression with the aid of EViews 13. Earnings quality was measured using discretionary accruals via the Modified Jones Model. The results indicate that institutional ownership and managerial ownership have a positive and significant effect on earnings quality, whereas independent directors, audit committees, and audit quality do not have a significant effect. These findings confirm that ownership structure plays a more dominant role than formal oversight mechanisms in improving earnings quality. The novelty of this study lies in the simultaneous testing of all five GCG mechanisms in the energy sector-a capital-intensive and high-risk sector that has not been extensively examined in previous earnings quality studies. The limitations of this study include an observation period of only five years and a sample restricted to the energy sector; therefore, the results may not necessarily be generalizable to other sectors.
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