Pengaruh Pyramid of Structure dan Pengungkapan Transaksi Pihak Berelasi terhadap Tindakan Ekspropriasi dengan Tata Kelola sebagai Variabel Moderasi

摘要

The objective of this study is to analyze the effect of company’s ?ownership through pyramid structure, and related party transaction disclousure, on expropriation practices, with corporate governance as moderating variable. The concept of expropriation in this study is measured by related party transaction assets, liabilities (RPT AL) and related party transaction sales, expenses (RPT SE). Analytical? technique? used? is? hierarchical? regression? analysis for testing hypotheses developed in this study. Research population is a manufacturing company listed in Indonesia Stock Exchange (IDX) during? years 2014-2016, and the sample is selected using purposive sampling method. The results of this study fails to prove effect of company’s ?ownership through pyramid structure, and related party transaction disclousure on expropriation practices. Furthermore, this study indicates the corporate governance can to increase the level of related party transactions disclosure, but has not been to reduce the expropriation practices caused by company’s ownership through pyramid structure. This? study? contributes? to? the? theory? of agency? type? II? which? discusses? conflict of interest between? controlling? and? non-controlling shareholders, especially the problem of information asymmetry,? which can be minimized by the role of corporate governance.