Good Corporate Governance and Company Size on Financial Performance

The results of the analysis of the coefficient of determination, the value of the coefficient of determination (Adjusted R Square) is 0,277. From these results it can be concluded that the magnitude of the variation in the independent variables influencing financial performance is 27,7% and the remaining 72,3% is influenced by other variables not included in the regression model.

4.3.2 Simultaneous Test (Test F)

Source: data processed by the author, 2023

In Table 6 it can be seen that the F test shows a significant value of 0,001. The significant value is less than 0,05. This indicates that the independent variable has a simultaneous effect on the dependent variable. That is, any changes that occur to the board of commissioners, board of directors, audit committee, independent commissioners, institutional ownership and company size jointly affect financial performance.

4.3.3 Partial Test (T Test)

Source: data processed by the author, 2023

Based on table 7 above, it is known that the independent commissioner variable has an effect on financial performance. This is proven bythe sig value of profitability is 0,000 <0,05 and the sig value of the independent commissioners is 0,000. while the variables of the board of commissioners, board of directors, audit committee, institutional ownership and company size have no effect on financial performance. It is proven that the significance value is greater than 0,05.

4.4 Discussion of Analysis Results Influence of the Board of Commissioners on Financial Performance

The results of the data analysis show that the board of commissioners variable has a value of Sig. which is greater than the predetermined significance, namely 0,956 < 0,05. So the hypothesis is rejected, where the board of commissioners variable has no effect on financial performance.