Good corporate governance fails to prevent financial distress in Indonesian firms.
The study looked at how good corporate governance affects financial distress in Indonesian Stock Exchange-listed firms from 2017 to 2019. They examined factors like independent boards, blockholder ownership, CEO-chair duality, and board ownership. The researchers used data from 30 different companies and statistical analysis to draw their conclusions. Surprisingly, they found that the audit committee, CEO-chair duality, board ownership, and independent board of commissioners did not impact the firms' financial troubles.