Ownership Structure, Intensive Board Monitoring, and Firm Value: Evidence from Korea

This study aims to determine the effect of simultaneous and partial ownership structure and earnings management on firm value in the Consumer Goods Industry Sector Companies that are listed on the Indonesia Stock Exchange in 2014. The method used in this study is the census method. The population studied was 32 companies in the Consumer Goods Industry Sector that were listed on the Indonesia Stock Exchange in 2014. The data collected were secondary data. Analysis of the data in this study used path analysis using SPSS V. 24. The results showed that the ownership structure and earnings management, simultaneously, had a significant effect on the value of the company in the Consumer Goods Industry Sector Companies that were listed on the Indonesia Stock Exchange in 2014. The ownership structure, partially, has no significant effect on the value of the company in the Consumer Goods Industry Sector Companies listed on the Indonesia Stock Exchange in 2014. Earnings management, partially, has a significant effect on the firm value of the Consumer Goods Industry Sector Companies that are listed on the Exchange Indonesian Securities in 2014, and ownership structure does not significantly influence earnings management in the Consumer Goods Industry Sector Companies that are listed on the Indonesia Stock Exchange in 2014. Keywords: ownership structure, earnings management, company value

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Role of Profitability In Mediating Institutional And Managerial Ownership Structure On Firm Value

International Journal of Economics and Management Studies ◽

10.14445/23939125/ijems-v7i11p106 ◽

2020 ◽

Vol 7 (11) ◽

pp. 38-45

Author(s):

Heru Prastowo Husodo ◽

IGB Wiksuana

Keyword(s):

Ownership Structure ◽

Firm Value ◽

Managerial Ownership

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PENGARUH LEVERAGE, MANAJEMEN LABA, DAN STRUKTUR KEPEMILIKAN TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN BUMN YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2008 - 2012

Jurnal Akuntansi ◽

10.24964/ja.v1i2.15 ◽

2016 ◽

Vol 1 (2) ◽

Cited By ~ 1

Author(s):

Fajar Kusworo

Keyword(s):

Earnings Management ◽

Ownership Structure ◽

Firm Value ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Significant Positive Effect ◽

Public Ownership ◽

Government Ownership ◽

Simultaneous Testing ◽

Positive Effect

The purpose of this research was to determine the effect of leverage , earnings management , and ownership structure on firm value in state-owned companies . Based on a population of 18 state-owned companies listed on the Stock Exchange was taken 10 stateowned companies in 2008 to 2012 as the samples in this study according to the criteria of the study , a total of 50 years as a firm observational data . At the stage of data processing are affected data outliers firm by 2 years so the number of samples used in this study for 5 years amounted to 48 firm year . Data analysis was performed using linear regression analysis using SPSS for Windows 16.00. Simultaneous testing results show that leverage , earnings management , government ownership , and public ownership and a significant positive effect on firm value . Result partial test indicates that earnings management does not affect the value of the company , while leverage , government ownership , and public ownership negatively affect the value of the company .

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The Effect of Transforming into Holding Companies through Spin-offs on Firm Value and Ownership Structure

Journal of CEO and Management Studies ◽

10.37674/ceoms.23.3.1 ◽

2020 ◽

Vol 23 (3) ◽

pp. 1-20

Author(s):

Jiyoung Park ◽

◽

Yun Kyung Kim ◽

Hyun-Han Shin

Keyword(s):

Ownership Structure ◽

Firm Value ◽

Holding Companies

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Independent directors and firm value of group-affiliated firms

International Journal of Accounting and Information Management ◽

10.1108/ijaim-08-2016-0076 ◽

2017 ◽

Vol 25 (2) ◽

pp. 217-236 ◽

Cited By ~ 6

Author(s):

Amrinder Khosa

Keyword(s):

Ownership Structure ◽

Firm Value ◽

Value Relevance ◽

Institutional Setting ◽

Independent Directors ◽

Board Independence ◽

Outside Directors ◽

Content Type ◽

Listed Firms ◽

Indian Setting

Purpose This study aims to examine the effect of board independence on firm valuation of group-affiliated firms in distinct Indian setting. Design/methodology/approach This study uses a sample of 317 listed firms comprising 1,350 firm-year observations for the period 2008-2012. The value-relevance model is used to examine the effect of board independence on market value of equity. Findings The distinct finding of an inverse relationship between board independence and firm value of group-affiliated firms in India illustrates that effective monitoring by outside directors is largely influenced by the institutional setting and ownership structure. This study does not find any evidence of different valuation when comparing non-family CEOs and family CEOs. Practical implications Independent directors play an important role to stop abusive use of related-party transactions in an environment where principal–principal conflict exists. The study’s findings will prove useful in determining whether one should rely merely on the independent status of outside directors or the influence of institutional setting on effective governance. Originality/value This paper contributes to the existing literature in the following ways: it helps to gain a better understanding of business groups which are characterised by unique governance structures and the dominance of controlling families on the board, which makes the external governance mechanisms (i.e. independent directors and non-family CEOs) ineffective and it illustrates that effective monitoring by outside directors is largely influenced by the institutional setting and ownership structure.

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Analisis Struktur Kepemilikan, Faktor Eksternal, Internal Terhadap Struktur Modal, Dividen, Nilai Perusahaan Manufaktur

E-Jurnal Akuntansi ◽

10.24843/eja.2020.v30.i06.p11 ◽

2020 ◽

Vol 30 (6) ◽

pp. 1484

Author(s):

Nurianah Nurianah ◽

Muslich Anshori

Keyword(s):

Capital Structure ◽

Ownership Structure ◽

Firm Value ◽

Structural Equation ◽

Dividend Policy ◽

Stock Exchange ◽

External Factors ◽

Equation Modeling ◽

Internal Factors ◽

Company Value

This study discusses and analyzes the Ownership Structure, External Factors, Internal Against Capital Structure, Dividends and Company Value. The population used in this study is companies listed on the Indonesia Stock Exchange using 37 companies. The data used are from 2010 to 2019, this study uses descriptive statistical analysis and inference with Structural Equation Modeling (SEM). The analysis shows: ownership structure does not oppose capital structure, dividend policy, and firm value, external factors affect internal factors, external factors do not oppose capital structure, external factors do not significantly influence firm value, internal factors related to capital structure, factors internal does not oppose dividend policy, internal factors oppose company value, capital structure opposes dividend policy, dividend policy has no effect on capital structure, capital structure is related to company value, and dividend policy is related to company value. Keywords: Ownership Structure; External and Internal Factors; Dividend Policy; Manufacture.

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