CORPORATE GOVERNANCE DAN NILAI PERSUHAAN: PERAN MODERASI KONSENTRASI INDUSTRI

2017 ◽  
Vol 11 (1) ◽  
pp. 47
Author(s):  
Poh Linawati ◽  
Perminas Pangeran
Keyword(s):  
Corporate Governance ◽  
Firm Value ◽  
Industry Concentration ◽  
Managerial Ownership ◽  
Industrial Concentration ◽  
Chow Test ◽  
Moderating Role

The purpose of this study is to examine the moderating role of industry concentration betweencorporate governance (Board of Commissioners Independent, Managerial Ownership, andInstitusional Ownership) and firm value. Industry concentration classification is calculated by theHerfindahl-Hirschman Index (HHI). In terms of chow test can be concluded that the regressionequation between sub-groups of concentrated industries and less concentrated industries differsignificantly and it shows that the industry concentration is moderating variable.Keywords: Industrial Concentration, Board Of Commissioners Independent, Managerial Ownership,Institusional Ownership, Firm Value.

scholarly journals Impact of Intellectual Capital on Firm Value: The Moderating Role of Managerial Ownership

2019 ◽  
Author(s):  
Aftab Ahmed ◽  
Muhammad Kashif Khurshid ◽  
Muhammad Usman Yousaf
Keyword(s):  
Intellectual Capital ◽  
Firm Value ◽  
Market Competition ◽  
Value Added ◽  
Sampling Technique ◽  
Systematic Sampling ◽  
Managerial Ownership ◽  
The Relationship ◽  
Moderating Role

Rapidly changing dynamics of globalization and increasing market competition are causing the companies all around the world confronting several new challenges and opportunities. To be competitive and successful apart from relative importance of physical resources, companies must adapt modern strategies and policies regarding market flexibility and development. The purpose of this study is to empirically investigate the relationship between intellectual capital and firm value. Furthermore, the moderating role of managerial ownership has been evaluated with the help of regression analysis. The sample included the panel data taken from non-financial firms listed on Pakistan stock exchange (PSX) covering the period 2010-2015. A sample of 79 firms out of 384 firms have been selected with the help of systematic sampling technique. VAIC (Value Added Intellectual Coefficient) model has been used for the calculation of intellectual capital. Tobin's Q has been taken as a measure of firm value. Managerial ownership has been tested as moderator. Based on data analysis, it is concluded that the relationship between intellectual capital and firm value is positively significant. It is also concluded that managerial ownership moderates the relationship between intellectual capital and firm value negatively.

scholarly journals Sustainable Business Practices and Firm’s Financial Performance in Islamic Banking: Under the Moderating Role of Islamic Corporate Governance

2019 ◽  
Vol 11 (23) ◽  
pp. 6606 ◽  
Author(s):  
Amin Jan ◽  
Maran Marimuthu ◽  
Rohail Hassan ◽  
Mehreen
Keyword(s):  
Corporate Governance ◽  
Financial Performance ◽  
Islamic Banking ◽  
Managerial Ownership ◽  
Business Practices ◽  
Islamic Banks ◽  
Sustainable Business ◽  
Shariah Governance ◽  
Moderating Role

This paper examines the moderating role of Islamic corporate governance on the link between sustainable business practices and the firm’s financial performance. A post-crisis period sustainability data for the decade of 2008–2017 was collected by the study. For data collection, this study used the weighted content method. The Generalized Method of Moments (GMM) statistical test was used for empirical testing. The results of the study found that the link between sustainable business practices with the firm’s financial performance measured from the shareholders’ and the management’s perspective is positive, while the subjected link measured from the market perspective was found to be insignificant. This implies that the market stakeholders of the Islamic banks are reluctant for their bank’s spending on sustainable business practices. Interestingly, the insignificant link between sustainable business practices and market performance became significant with the moderating role of Shariah governance and managerial ownership. It shows that the moderating role of Shariah governance and managerial ownership is giving confidence to market stakeholders of Islamic banks for receiving a higher financial return through sustainable business practices initiatives. These results may provide insights for several policymakers of the Islamic banking industry about integrating vital sustainability practices in their business models and about the balanced moderating role of Islamic corporate governance in the link between sustainable business practice and the firm’s financial performance. It provides a roadmap to the Islamic banking industry for efficient management of sustainability practices from an Islamic perspective and subsequently improvement of financial performance through it.

scholarly journals Impact of CSR on Firm Value: The Moderating Role of Corporate Governance

2020 ◽  
Vol 4 (2) ◽  
pp. 145
Author(s):  
Affaf Asghar Butt ◽  
Aamer Shahzad ◽  
Jamshaid Ahmad
Keyword(s):  
Corporate Governance ◽  
Firm Value ◽  
Stock Exchange ◽  
Annual Reports ◽  
Future Research ◽  
Financial Firms ◽  
Developed Markets ◽  
Corporate Social ◽  
Moderating Role

This study aims to investigate whether the corporate governance (CG) moderates the link between corporate social responsibility (CSR) and firm value (FV). For this purpose, anatomization was conducted by extracting data from the published annual reports of non-financial firms listed on the Pakistan Stock Exchange. Correlation, regression, and moderation analyses were conducted to obtain the statistical outcomes. The results showed a significant direct relationship between CSR and firm performance. Additionally, it was found that the interactivity between CSR and FV weakened when CG was included as a moderator. The results of this study could be used by stakeholders to make economically sound decisions since it provides complete guidance regarding how to engage in productive CSR activities. Moreover, this study contributes to future research by examining the association between CSR and FV using CG as a moderator, in a market where, as in other developing markets, this relationship has not been the focus of research. Apart from its theoretical contributions, this study explores the role of CG as moderator, in line with research conducted in under-developed markets, which may be considered a significant contribution. 

The influence of corporate governance characteristics on human capital disclosure: the moderating role of managerial ownership

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Francisca Tejedo-Romero ◽  
Joaquim Filipe Ferraz Esteves Araujo
Keyword(s):  
Corporate Governance ◽  
Human Capital ◽  
Social Responsibility ◽  
Intellectual Capital ◽  
Boards Of Directors ◽  
Managerial Ownership ◽  
Linear Regression Models ◽  
Content Type ◽  
Moderating Role

PurposeThe main objective of this paper is to analyse the content and extent of human capital disclosure by Spanish companies. It studies various factors related to the board of directors’ composition and functioning. These factors can be seen as mechanisms of corporate governance and the moderating role of managerial ownership, which help predict the behaviour of managers in relation to the human capital disclosure.Design/methodology/approachThis study develops and applies a more comprehensive framework for coding information on human capital, integrating the intellectual capital and social responsibility perspectives in order to explain the content and extent of human capital disclosure. The research was based on a content analysis of 210 corporate reports from 2007 to 2016. A system-GMM estimator was used to test the hypotheses in four dynamic linear regression models of balanced panel data in order to address concerns of endogeneity.FindingsThe results show that companies are adapting to new regulations and voluntarily disclosing information on human capital – a trend which signals their commitment to responsible attitudes towards employees and stakeholders. The results also show that board composition and functioning are mechanisms of supervision, control and legitimacy that promote human capital disclosure, with managerial ownership acting as moderator for aligning interests between managers and stakeholders.Originality/valueThis study contributes to the literature on human capital disclosure by introducing a broader conception of human capital to coding information. It accomplishes this through considering aspects of the intellectual capital and social responsibility approaches, which provide a better understanding of companies’ human capital disclosure. In addition, it seeks to enrich the debate about the effects of corporate governance mechanisms– such as boards of directors and managerial ownership – on human capital disclosure.

scholarly journals THE MODERATING ROLE OF FIRM SIZE ON FINANCIAL CHARACTERISTICS AND ISLAMIC FIRM VALUE AT INDONESIAN EQUITY MARKET

2020 ◽  
Vol 21 (1) ◽  
pp. 391-401
Author(s):  
Perdana Wahyu Santosa
Keyword(s):  
Corporate Governance ◽  
Firm Size ◽  
Firm Value ◽  
Audit Committee ◽  
Equity Market ◽  
Audit Committees ◽  
Financial Characteristics ◽  
Positive Effect ◽  
Moderating Role

This study aims to understand the moderating role of firm size on financial characteristics and Islamic firm value. Then study how the influence of firm size moderation on the relationship of financial characteristics and corporate governance with firm value. This study uses secondary data from financial statements and analyzed by the panel data method for six years. The sample selection is arranged by the purposive sampling method with Islamic index constituent population. Conclusion: leverage, profitability, and efficiency have a significant positive effect on Islamic firm value, but the liquidity and audit committee do not affect. Firm size moderators provide a reinforcing effect for all independent variables so that liquidity and audit committees have a positive effect on firm value. Implications: Islamic firm investors in the equity market should consider the crucial variable, namely firm size, in addition to firm and corporate governance characteristics. These conclusions provide important implications for managers and relevant authorities to enhance financial market information related to firm value and further attention to corporate governance mechanisms.

scholarly journals Peran Mekanisme Corporate Governance sebagai Pemoderasi Praktik Earning Management terhadap Nilai Perusahaan

TRIKONOMIKA ◽  
2013 ◽  
Vol 12 (1) ◽  
pp. 49
Author(s):  
Mochammad Ridwan ◽  
Ardi Gunardi
Keyword(s):  
Corporate Governance ◽  
Earnings Management ◽  
Firm Value ◽  
Institutional Ownership ◽  
Audit Committees ◽  
Managerial Ownership ◽  
Governance Mechanisms ◽  
Corporate Governance Mechanisms

This study aims to determine how the effect of earnings management on firm value is moderated by the role of corporate governance mechanisms consisting of an outside independent director, institutional ownership , managerial ownership , audit committees , and the classification of public accounting firms ( KAP ) . In this study, the population of the entire company is listed on the Indonesia Stock Exchange totaling 111 companies , but only 103 of the 111 companies that companies used in this study . To find out how the effect of earnings management on firm value is moderated by the role of corporate governance mechanisms using Moderated Regression Analysis . The results prove that the earnings management significantly influence the value of the company . Institutional ownership , managerial ownership , and the classification of KAP is moderating variables influence earnings management relations while independent directors and audit committees is not a moderating variable.

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