摘要:This study aimed to analyze the effect of the implementation of good corporategovernance to financial performance of PT Kalbe Farma Tbk. Corporategovernance as measured by CGPI (Corporate Governance Perception Index)based on the rating that has been prepared by IICG (Indonesian Institute ofCorporate Governance) and the company's financial performance is measuredby the value of Return on Investment. The statistical method used is simplelinear regression analysis .. Samples are PT Kalbe Farma has followed Tbk.IICG survey conducted from 2002-2007. Based on the results of hypothesistesting can be concluded that good corporate governance does not significantlyaffect the financial performance of PT Kalbe Farma. This is apparently due tolow awareness of companies to apply good corporate governance. Themanagement company has not seen any direct financial impact.