OSREL stie-mce
Online Search and Retrieval Library
Faculty Research
STRUKTUR KEPEMILIKAN MANAJERIAL BERPENGARUH TERHADAP KINERJA
| Detail | |
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| Author | RR. WIDANARNI PUDJIASTUTI (Tim: Ketua) |
| ID | 202.710.246 |
| Published Date | 20-02-2006 |
Abstract
The research objective was to test the influence of board structure on firm performance empirically. In detail the objectives were to test empirically: 1) the negative influence of commissioner board size on firm performance, 2) the negative influence of board of directors size on firm performance, 3) the positive influence of female commissioners board on firm performance, 4) the positive influence of female board of directors on firm performance and 5) the positive influence of the independence of commissioner board on firm performance. The research used secondary data taken from the Indonesian Capital Market Directory (ICMD) published by the Jakarta Stock Exchange (JSX) year 2001–2005 for 150 firms. Samples used were chosen based on purposive sampling. Analysis method used to test the hypotheses was multiple regression. The result showed: 1) there is a negative influence of board size on firm performance. This result is consistent to the result of Yermack (1996, in Beiner et al. 2003) and Jensen (1993) but inconsistent to Beiner et al. (2003), 2) there is a negative influence of the size of female board on firm performance. This result is consistent to Adams and Ferreira (2004), Farrel and Hersch (2001), also Novia and Lukviaman (2006) but inconsistent to Adams and Ferreira (2004), 3) there is a positive influence of the independency of commissioner board on firm performance. This is inconsistent to the result of Dulewitzc and Herbert (2004) and also Anderson et al. (2004), and 4) KNKG rules stated that board composition required to at least 20% of the member shall be independent members. The result showed a positive indication of the increase of firm’s awareness in revising board effectiveness, also the revision of corporate governance implementation in general.