ABSTRACT
This research aimed to analyze the effect of corporate governance on the finance pattern for nonfinancial going public firms that were listed on the Indonesia Stock Exchange for 2010–2014. Linear multiple regression was used in this study. The dependent variables are the finance pattern (FP) Retained Earnings (RE) and FP Debt. The independent variables are board of director (BOD) share ownership, independent commissioner, board size, and block holder. BOD ownership and profitability had a significant positive effect on FP RE, whereas block holder and the size of the company had a significant negative effect. Independent commissioner, board size, and tangibility had no significant effect on FP RE; firm size and tangibility had a significant positive effect on FP Debt; board size and profitability in the previous period had a significant negative effect on FP Debt; BOD ownership, as well as independent commissioner and block holder, had no significant effect on FP Debt.
