Selasa, 11 Januari 2011

CORPORATE CONTROL AND FIRM PERFORMANCE: DOES THE TYPE OF OWNERS MATTER?

Language : Inngris - SNA 13 PURWOKERTO  2010
Pages : 24 Halaman
Release Date : 2010

Harga : Rp. 20.000,- (softcopy CD) - Belum Ongkir


Apakah struktur kepemilikan perusahaan berpengaruh terhadap mekanisme governance dan kinerja perusahaan? hal inilah yang dibahas dalam penelitian ini...


Muhammad Agung Prabowo* 
Universitas Sebelas Maret, Surakarta, Indonesia 

Abstract: 
The paper extends the ownership study by examining the different types of large shareholders in relation to its impact on organizational outcome in Indonesia using a dataset consisting of 190 non-financial companies listed in Jakarta Stock Exchange in 2002. The study investigates the effect of family ownership, foreign blockholder, domestic institutional shareholders, and the board of directors on firm performance. The results confirm the different impact of different large shareholders type on firm performance. Controlling family ownership is more likely to exacerbate agency problems while the presence of foreign investor is related to superior firm performance. Domestic blockholders is insignificantly related to firm performance. However, the interaction effect between family and domestic blockholders ownership is negatively related to firm performance, offering empirical evidence to the existence of interlocking blockholders in Indonesia to deprive minority shareholders from their rights. 


Keyword: Corporate Governance, Large Shareholders, Board Structure, Firm Performance

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