Purpose: This study is aimed at analyzing the influence of the size of the board of directors, audit committee, institutional ownership and managerial ownership on the financial performance of manufacturing companies listed on the Indonesia Stock Exchange. Methodology: The study analyses 156 Indonesia firms listed on the Indonesia Stock Exchange using linear regression analysis. Findings: The results indicated that the size of the board of directors has a positive effect on financial

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... , while the size of the audit committee, institutional ownership and managerial ownership has no effect on the financial performance. While on the simultaneously testing, it showed that the size of the board of directors, audit committee size, institutional ownership and managerial ownership influence the financial performance. Research limitations/implications: The research has been limited to the manufacturing sector of Indonesian companies and the internal mechanism of corporate governance. The study suggests considering an external mechanism of corporate governance as predictor variables. Originality: The study adds to the literature of corporate government and firm performance in emerging countries. The study implies that corporate governance mechanism for audit committee, managerial ownership and institutional ownership do not enhance company performance. The average size of an audit committee just to fulfill the regulation. Corporate governance mechanism that improve financial performance is size board director. Improvement in board performance as board size increase has positive impact that enhance financial performance of company. Intoduction Good Corporate Governance is a system or process and a set of rules that govern the relationship between the various interested parties (stakeholders) in the company, such as shareholders, board of commissioner and board of directors for the achievement of corporate objectives. In Indonesia, Good Corporate Governance has been applied, because of the economic and monetary crisis that hit the country in 1997-1999. This crisis happened because there were many companies that have not implemented consistently good corporate governance, particularly in the company's business ethics. Moreover the case of WorldCom and Enron in the United States emphazised the importance of good corporate governance to be applied in the company. A study conducted by the Asian Development Bank (ADB) identified the lack of corporate governance as a key contributor to the impact and depth of the crisis (Zhuang et al., 2000) . Thus, the Asian financial crisis became a significant momentum factor, pushing the reform of corporate governance in Asia, specifically in Indonesia.