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Abstrak :
[ABSTRAK
Penelitian ini bertujuan untuk mengetahui pengaruh family business, corporate governance, related party transactions dan competition terhadap biaya utang. Variabel family business dibagi menjadi tiga model penelitian dengan masing- masing metode sebagai berikut: ditentukan berdasarkan persentase kepemilikan keluarga, menggunakan hubungan non-linear kepemilikan keluarga, menggunakan dummy variable pemegang saham keluarga di atas 20% yang terlibat dalam manajemen. Variabel corporate governance menggunakan skor yang dikeluarkan oleh The Indonesian Institute for Corporate Directorship, related party transactions menggunakan dummy variable transaksi berelasi pinjaman dan competition menggunakan 1-Herfindahl Index. Penelitian menggunakan sampel 111 perusahaan tahun 2005, 2008, dan 2011. Hasil penelitian menunjukkan persentase kepemilikan keluarga, hubungan non-linear kepemilikan keluarga, dan pemegang saham keluarga di atas 20% yang terlibat dalam manajemen tidak terbukti berpengaruh terhadap biaya utang. Sebagai variabel moderasi, persentase kepemilikan keluarga dan kepemilikan keluarga di atas 20% yang terlibat dalam manajemen tidak terbukti mempengaruhi hubungan corporate governance dan biaya utang, namun kepemilikan keluarga di atas 50% terbukti memperlemah hubungan corporate governance dan biaya utang. Penelitian ini juga membuktikan corporate governance dan related party transactions tidak berpengaruh terhadap biaya utang namun competition terbukti berpengaruh signifikan terhadap biaya utang.

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ABSTRACT
The purpose of this study is to investigate the impact of family business, corporate governance, related party transactions and competition to cost of debt. Family business is divided into three models which each methods are: percentage of family ownership, non-linear relationships of family ownership, dummy variable of family ownership more than 20% involved in management. This study employs scorecard which is issued by The Indonesian Institute for Corporate Directorship, dummy variable of related loan transactions and 1-Herfindahl Index as a proxy for corporate governance, related party transactions and competition. This study employs 111 samples in 2005, 2008, and 2011. This study proves that family ownership, non-linear relationships of family ownership, and family ownership more than 20% involved in management have no impact to cost of debt. As moderating variables, family ownership and family ownership more than 20% involved in management do not influence relationship between corporate governance and cost of debt, but this study proves that family ownership more than 50% made relationship between corporate governance and cost of debt is weak. This study also proves that corporate governance and related party transactions have no impact to cost of debt but competition has a significant impact to cost of debt.;The purpose of this study is to investigate the impact of family business, corporate governance, related party transactions and competition to cost of debt. Family business is divided into three models which each methods are: percentage of family ownership, non-linear relationships of family ownership, dummy variable of family ownership more than 20% involved in management. This study employs scorecard which is issued by The Indonesian Institute for Corporate Directorship, dummy variable of related loan transactions and 1-Herfindahl Index as a proxy for corporate governance, related party transactions and competition. This study employs 111 samples in 2005, 2008, and 2011. This study proves that family ownership, non-linear relationships of family ownership, and family ownership more than 20% involved in management have no impact to cost of debt. As moderating variables, family ownership and family ownership more than 20% involved in management do not influence relationship between corporate governance and cost of debt, but this study proves that family ownership more than 50% made relationship between corporate governance and cost of debt is weak. This study also proves that corporate governance and related party transactions have no impact to cost of debt but competition has a significant impact to cost of debt.;The purpose of this study is to investigate the impact of family business, corporate governance, related party transactions and competition to cost of debt. Family business is divided into three models which each methods are: percentage of family ownership, non-linear relationships of family ownership, dummy variable of family ownership more than 20% involved in management. This study employs scorecard which is issued by The Indonesian Institute for Corporate Directorship, dummy variable of related loan transactions and 1-Herfindahl Index as a proxy for corporate governance, related party transactions and competition. This study employs 111 samples in 2005, 2008, and 2011. This study proves that family ownership, non-linear relationships of family ownership, and family ownership more than 20% involved in management have no impact to cost of debt. As moderating variables, family ownership and family ownership more than 20% involved in management do not influence relationship between corporate governance and cost of debt, but this study proves that family ownership more than 50% made relationship between corporate governance and cost of debt is weak. This study also proves that corporate governance and related party transactions have no impact to cost of debt but competition has a significant impact to cost of debt., The purpose of this study is to investigate the impact of family business, corporate governance, related party transactions and competition to cost of debt. Family business is divided into three models which each methods are: percentage of family ownership, non-linear relationships of family ownership, dummy variable of family ownership more than 20% involved in management. This study employs scorecard which is issued by The Indonesian Institute for Corporate Directorship, dummy variable of related loan transactions and 1-Herfindahl Index as a proxy for corporate governance, related party transactions and competition. This study employs 111 samples in 2005, 2008, and 2011. This study proves that family ownership, non-linear relationships of family ownership, and family ownership more than 20% involved in management have no impact to cost of debt. As moderating variables, family ownership and family ownership more than 20% involved in management do not influence relationship between corporate governance and cost of debt, but this study proves that family ownership more than 50% made relationship between corporate governance and cost of debt is weak. This study also proves that corporate governance and related party transactions have no impact to cost of debt but competition has a significant impact to cost of debt.]

Abstrak :
ABSTRAK
Karya akhir ini berbicara mengenai perusahaan keluarga, institusi perusahaan yang bagi saya tidak menarik untuk dipelajari. Perubahan pandangan saya atas perusahaan keluarga dimulai setelah mempelajari beberapa fakta yang saya temukan pada saat melakukan penelitian awal, untuk kemudian menjadi sangat positif pada saat saya menyelesaikan karya akhir ini.

Adapun metodologi penelitian yang saya gunakan adalah, metodologi penelitian studi kasus tunggal, yang dapat dipakai untuk menguji kasus kritis, kasus unik atau ekstrim, dan kasus penyingkapan. Metodologi pengumpulan data saya lakukan dengan menggunakan wawancara.

Dalam thesis ini saya juga mengajukan tiga variabel independen yaitu, Pengelolaan Sumber Daya ( disebut sebagai variabel independen pertama), Harmoni Internal- Eksternal (disebut sebagai variabel independen kedua), dan Harmoni Internal antar Anggota Keluarga (disebut sebagai variabel independen ketiga). Ketiga variabel independen tersebut berinteraksi satu sama lain dengan intensitas yang berbeda dan kemudian berpengaruh terhadap ketahanan hidup perusahaan keluarga. Saya mencoba menuangkan interaksi antar variabel tersebut dalam sebuah model yang saya harap dapat memperjelas sudut pandang peneliti atau pelaku perusahaan keluarga, dan dapat dapat terus dikembangkan oleh pelaku atau peneliti perusahaan keluarga sehingga menjadi model yang solid.

Beberapa bab berikutnya menggambarkan bagaimana interaksi antar variabelvariabel independen dan pengaruhnya terhadap ketahanan hidup perusahaan keluarga. Kurun waktu lebih dari tiga puluh tahun memungkinkan kita untuk mempelajari perilaku dari pendiri-pemilik-pengelola atas kondisi-kondisi yang berbeda yang ada dalam rentang waktu tersebut.

Pada bagian akhir dari karya akhir ini disampaikan kesimpulan atas paparan kasus yang telah disampaikan dalam karya akhir ini dan saran untuk meningkatkan ketahanan hidup perusahaan keluarga