Good corporate governance and its implementation within the company: a systematic literature review
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Feb 28, 2023
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Abstract
This study aims to analyze the trends of previous research and to find out material for further research on Good Corporate Governance (GCG). This research method uses a systematic review of 66 research articles published between 2019 and 2022. Research trends on Good Corporate Governance in terms of research quantity have decreased from 2019 to 2022. Research topics are dominated by research on Corporate Governance, namely 83, 33%. In terms of methods, the trend of research on GCG is more dominated by the panel data regression method. In terms of applied theory, CG research is more dominated by the theory of agency and a combination of stakeholder theory, signaling theory, and legitimacy theory. From the company side, the CG research was dominated by public companies, namely 69.70%. Research on GCG has not examined much about the added value that can be obtained for all parties in the company
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How to Cite
Pahlevi, M. E. (2023). Good corporate governance and its implementation within the company: a systematic literature review. Enrichment : Journal of Management, 12(6), 4753-4761. https://doi.org/10.35335/enrichment.v12i6.1131
References
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Arora, T. S. (2020). Impact of Corporate Governance on Credit Ratings: An Empirical Study in the Indian Context. Indian Journal of Corporate Governance, 13(2), 140–164. https://doi.org/10.1177/0974686220966808
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Priambodo, R., & Supriyatno, E. (2007). Penerapan Good Corporate Governance sebagai Landasan Kinerja Perbankan, Usahawan No. 05 Th XXXVI, Hal. 22-30. Jakarta.
Putri, I. A. D., & Dwija, A. (2012). Peranan good corporate governance dan budaya terhadap kinerja organisasi. Jurnal Akuntansi & Bisnis, 7(2), 193–204.
Raharjo, E. (2007). Teori agensi dan teori stewarship dalam perspektif akuntansi. Fokus Ekonomi: Jurnal Ilmiah Ekonomi, 2(1).
Rehman, A., & Hashim, F. (2020). Is corporate governance maturity measurable? Corporate Governance: The International Journal of Business in Society, 20(4), 601–619. https://doi.org/10.1108/CG-07-2019-0220
Sahar, E., Zulkifli, N., & Zakaria, Z. (2018). Corporate governance integration with sustainability: a systematic literature review. Corporate Governance: The International Journal of Business in Society.
Srihardianti, M., Mustafid, M., & Prahutama, A. (2016). Metode regresi data panel untuk peramalan konsumsi energi di indonesia. Jurnal Gaussian, 5(3), 475–485.
Tranfield, D., Denyer, D., & Smart, P. (2003). Towards a methodology for developing evidence‐informed management knowledge by means of systematic review. British Journal of Management, 14(3), 207–222.
Widyasaputri, E. (2012). Analisis mekanisme corporate governance pada perusahaan yang mengalami kondisi financial distress. Accounting Analysis Journal, 1(2).
Yadav, S. (2020). Institutional Ownership and Corporate Social Performance in Emerging Economies Multinationals: Evidence from India. Indian Journal of Corporate Governance, 13(2), 227–252. https://doi.org/10.1177/0974686220966812
Alleyne, P., & Thompson, R. M. (2019). Corporate governance and firm performance in an emerging market: Evidence from Barbados. Corporate Law & Governance Review, 1(2), 51–61.
Anggraini, P. G., & Sholihin, M. (2021). What do we know about managerial ability? A systematic literature review. Management Review Quarterly, 1–30.
Aprianingsih, A., & Yushita, A. N. (2016). Pengaruh penerapan good corporate governance, struktur kepemilikan, dan ukuran perusahaan terhadap kinerja keuangan perbankan. Jurnal Profita: Kajian Ilmu Akuntansi, 4(4).
Arora, T. S. (2020). Impact of Corporate Governance on Credit Ratings: An Empirical Study in the Indian Context. Indian Journal of Corporate Governance, 13(2), 140–164. https://doi.org/10.1177/0974686220966808
Asghar, A., Sajjad, S., Shahzad, A., & Matemilola, B. T. (2020). Role of discretionary earning management in corporate governance-value and corporate governance-risk relationships. Corporate Governance: The International Journal of Business in Society, 20(4), 561–581. https://doi.org/10.1108/CG-11-2019-0347
Bahri, S., & Cahyani, F. A. (2016). Pengaruh kinerja lingkungan terhadap corporate financial performance dengan corporate social responsibility disclosure sebagai variabel I Ntervening (Studi empiris pada perusahaan manufaktur yang terdaftar di BEI). Jurnal Ekonika: Jurnal Ekonomi Universitas Kadiri, 1(2).
Ben Rejeb, W. (2021). Corporate law and governance: A case of Tunisia after the Arab Spring. Corporate Law and Governance Review, 3(2), 20–29. https://doi.org/10.22495/clgrv3i2p2
Chigudu, D. (2021). Picking up Pieces of Good Corporate Governance to Sustain National Railways of Zimbabwe. Indian Journal of Corporate Governance, 14(1), 27–47.
Daniri, M. A. (2005). Good corporate governance: konsep dan penerapannya dalam konteks Indonesia. Ray Indonesia.
Farah, B., Elias, R., Aguilera, R., & Abi Saad, E. (2021). Corporate governance in the Middle East and North Africa: A systematic review of current trends and opportunities for future research. Corporate Governance: An International Review, 29(6), 630–660.
Fathonah, A. N. (2017). Pengaruh penerapan good corporate governance terhadap financial distress. JIA (Jurnal Ilmiah Akuntansi), 1(2).
Fernando, J. M. R., Li, L., & Hou, Y. (2020). Corporate governance and correlation in corporate defaults. Corporate Governance: An International Review, 28(3), 188–206.
Hoque, Z. (2014). 20 years of studies on the balanced scorecard: Trends, accomplishments, gaps and opportunities for future research. The British Accounting Review, 46(1), 33–59. https://doi.org/10. 1016/j. bar. 2013. 10. 003
Hosain, M. S. (2020). The Relationship Between Corporate Governance and Corporate Social Responsibility Expenditure in Bangladesh: Moderating Role of Firm Value. Indian Journal of Corporate Governance, 13(2), 190–209. https://doi.org/10.1177/0974686220965330
Jayaningrat, I. G. A. A., Wahyuni, M. A., & Edy Sujana, S. E. (2017). Pengaruh Leverage, Profitabilitas, Likuiditas, Kebijakan Deviden, Kepemilikan Manajerial, Dan Kepemilikan Institusional Terhadap Nilai Perusahaan Pada Perusahaan Properti Dan Real Estate Di Bursa Efek Indonesia Tahun 2013-2015. JIMAT (Jurnal Ilmiah Mahasiswa Akuntansi) Undiksha, 7(1).
Kaihatu, T. S. (2006). Good corporate governance dan penerapannya di Indonesia. Jurnal Manajemen Dan Kewirausahaan, 8(1), 1–9.
Lehn, K. (2021). Corporate governance and corporate agility. Journal of Corporate Finance, 66, 101929. https://doi.org/https://doi.org/10.1016/j.jcorpfin.2021.101929
Lu, L. W. (2021). The moderating effect of corporate governance on the relationship between corporate sustainability performance and corporate financial performance. International Journal of Disclosure and Governance, 18(3), 193–206. https://doi.org/10.1057/s41310-020-00099-6
Monks, R. A. G., & Minow, N. (2011). Corporate governance. John Wiley & Sons.
Pareek, R., Pandey, K. D., & Sahu, T. N. (2019). Corporate Governance, Firms’ Characteristics and Environmental Performance Disclosure Practices of Indian Companies. Indian Journal of Corporate Governance, 12(2), 142–155. https://doi.org/10.1177/0974686219881091
Parmar, B. L., Freeman, R. E., Harrison, J. S., Wicks, A. C., Purnell, L., & de Colle, S. (2010). Stakeholder Theory: The State of the Art. Academy of Management Annals, 4(1), 403–445. https://doi.org/10.5465/19416520.2010.495581
Ponomareva, Y., Federo, R., Aguilera, R. V, & Collin, S. (2022). The cost of conformity to good governance: Board design and compensation. Corporate Governance: An International Review, 30(4), 399–420. https://doi.org/10.1111/corg.12408
Priambodo, R., & Supriyatno, E. (2007). Penerapan Good Corporate Governance sebagai Landasan Kinerja Perbankan, Usahawan No. 05 Th XXXVI, Hal. 22-30. Jakarta.
Putri, I. A. D., & Dwija, A. (2012). Peranan good corporate governance dan budaya terhadap kinerja organisasi. Jurnal Akuntansi & Bisnis, 7(2), 193–204.
Raharjo, E. (2007). Teori agensi dan teori stewarship dalam perspektif akuntansi. Fokus Ekonomi: Jurnal Ilmiah Ekonomi, 2(1).
Rehman, A., & Hashim, F. (2020). Is corporate governance maturity measurable? Corporate Governance: The International Journal of Business in Society, 20(4), 601–619. https://doi.org/10.1108/CG-07-2019-0220
Sahar, E., Zulkifli, N., & Zakaria, Z. (2018). Corporate governance integration with sustainability: a systematic literature review. Corporate Governance: The International Journal of Business in Society.
Srihardianti, M., Mustafid, M., & Prahutama, A. (2016). Metode regresi data panel untuk peramalan konsumsi energi di indonesia. Jurnal Gaussian, 5(3), 475–485.
Tranfield, D., Denyer, D., & Smart, P. (2003). Towards a methodology for developing evidence‐informed management knowledge by means of systematic review. British Journal of Management, 14(3), 207–222.
Widyasaputri, E. (2012). Analisis mekanisme corporate governance pada perusahaan yang mengalami kondisi financial distress. Accounting Analysis Journal, 1(2).
Yadav, S. (2020). Institutional Ownership and Corporate Social Performance in Emerging Economies Multinationals: Evidence from India. Indian Journal of Corporate Governance, 13(2), 227–252. https://doi.org/10.1177/0974686220966812