scholarly journals Pengaruh Struktur Kepemilikan Keluarga, Kepemimpinan Dan Perwakilan Keluarga Terhadap Kinerja Perusahaan

2014 ◽  
Vol 5 (2) ◽  
pp. 133
Author(s):  
Puput Tri Komalasari ◽  
Muhammad Alfin Nor
Keyword(s):  
Financial Performance ◽  
Ownership Structure ◽  
Positive Impact ◽  
Family Ownership ◽  
Tobin’S Q ◽  
Sales Growth ◽  
Tobin's Q ◽  
Negative Effect ◽  
The Impact ◽  
Positive Effect

AbstractThis paper examines the impact of family ownership structure, leadership, and family representatives on firm performance that was measured by Tobin’s Q and ROA. This research used leverage, size, sales growth and firm ages of public corporate that was listed in Indonesia StockExchange for period 2009 to 2011 as control variables. Regression’sresult shows that family ownership structure has positive impact to market performance (Tobin’s Q) and financial performance (ROA). Family CEO has negative effect to Tobin’s Q, but a positive effect to ROA. Family member on the board hasa negative effect to Tobin’s Q and ROA.

scholarly journals CSR, NILAI PERUSAHAAN DAN KINERJA KEUANGAN PERUSAHAAN PADA INDUSTRI PERTAMBANGAN DAN MANUFAKTUR DI INDONESIA

2017 ◽  
Vol 14 (1) ◽  
pp. 89 ◽  
Author(s):  
Farah Margaretha ◽  
Chandra Gunadi Witedjo
Keyword(s):  
Control Variable ◽  
Capital Budgeting ◽  
T Test ◽  
Tobin’S Q ◽  
Analysis Model ◽  
Tobin's Q ◽  
Environmental Dimension ◽  
Negative Effect ◽  
The Impact ◽  
Positive Effect

<p>This study was done in order to determine the reversible effect from company<br />CSR action on ROA and ROE, as well as to measure the company value using Tobin’s Q,<br />size and leverage also used as control variable. In order to test the impact of the variables<br />described above, 28 samples of mining and manufacturing company listed in BEI during<br />two periods are used, which is for three years long, 2009-2010. Analysis model of the<br />data used is the classical assumption, multiple regression and t test. Based on t test result<br />CSR has no effect on Tobin’s Q. CSR is also found to have no relation to ROA and ROE,<br />except for environmental dimension for which negative effect was found to ROE. The last<br />finding of this study was ROA has a positive effect on environmental and labor disclosure<br />of CSR, and no effect was found on the community dimension. ROE subsequently found to<br />have a positive effect on the labor and community disclosure, while no effect was found on<br />environmental dimension of CSR. As for that result it is recommended for companies to<br />put CSR as an investment that should be considered in the process of capital budgeting,<br />as CSR is a huge investment and still not being considered by investors and public.<br />Keywords : Corporate Social Responsibility (CSR), Corporate Financial Performance<br />(CFP), Size, Leverage, ROA, ROE, Tobin’s Q,</p>

scholarly journals Effects of Infrastructure Development, Inflation and Economic Growth to Performance Company (ROA, Tobin's Q, PBV): Study on Registered Infrastructure Support Companies in IDX Period 2014-2019

2021 ◽  
Vol 4 (3) ◽  
Author(s):  
Eko Sarjono ◽  
◽  
Kartika Hendra Titisari ◽  
Supawi Pawenang
Keyword(s):  
Economic Growth ◽  
Performance Measurement ◽  
Financial Performance ◽  
Stock Exchange ◽  
Hypothesis Test ◽  
Linear Regression Analysis ◽  
Infrastructure Development ◽  
Tobin’S Q ◽  
Tobin's Q ◽  
The Impact

The financial performance can be used as a benchmark of the ability of an organization or company in achieving its goals. Performance measurement is one of the most important factors for an organization or company, performance measurement is a process of measuring the extent to which a company does work to achieve its goals. The research investigated the impact of infrastructure, economic growth and inflation on financial performance of infrastructure support companies listed in Indonesian Stock Exchange Period 2014-2019 which is proxied by ROA (Return on Assets), Tobin’s Q and PBV (Price to Book Value). The population of this research was the infrastructure support companies listed on the Indonesian Stock Exchange period 2014-2019. Research sampling was conducted using The Purposive Sampling Method. The data analysis was camed out using classical assumption test, multiple linear regression analysis, t-test, F-test and determinan (R2) test with SPSS 21. The research finding showed that the model has an effect on the financial performance as proxied by ROA. So the results of the hypothesis test show that: (1) Infrastructure development has a negative and significant effect on ROA. (2) The inflation rate has a positive and significant effect on ROA. (3) Economic growth has no significant effect on ROA. Meanwhile, the model has no effect on financial performance which is proxied in Tobin's Q and PBV.

scholarly journals Impact of the Ownership Structure on the Financial Performance of Banks: Comparative Study between Conventional and Islamic Banks

2019 ◽  
Vol 4 (2) ◽  
pp. 50-63
Author(s):  
Achraf Haddad ◽  
Anis El Ammari ◽  
Abdelfattah Bouri
Keyword(s):  
Financial Performance ◽  
Ownership Structure ◽  
Least Squares Method ◽  
Conflicts Of Interest ◽  
Positive Impact ◽  
Ordinary Least Squares ◽  
Performance Measure ◽  
Islamic Banks ◽  
Two Samples ◽  
The Impact

According to the literature of corporate governance, ownership structure is advanced as a non-dissociable mechanism of control intended to follow the stakeholders and especially used by shareholders to monitor the conflicts of interest and the opportunistic behavior of managers. Several previous studies have focused on the impact of ownership structure on financial performance separately in conventional or in Islamic banks. However, the comparative studies between these two impacts are non-existent. In this research, we compared the impacts of this governance mechanism on the financial performance in the two types of banks by using the Ordinary Least Squares method. Data relating to financial performance and ownership structure of banks come from 16 countries. Two samples were collected: the first one included 63 conventional banks, whereas the second one integrated 63 Islamic banks whose data are available over the period (2010-2018). Panel results showed that partial effect of each determinant of ownership structure on each measure of financial performance varied from one banks’ type to another and from one performance measure to another. Besides, the reconciliation of similar models revealed many differences between the same impacts’ signs. Therefore, we concluded that in both banks’ types the ownership structure has a positive impact on the financial performance. While, the negative part of the same impact is less significant in Islamic banks. JEL Classification:  F33, G20, G21, G24, G30.

scholarly journals Income Diversification and Financial Performance of Selected Deposit Money Banks in Nigeria

2021 ◽  
Vol 8 (1) ◽  
pp. 1-17
Author(s):  
Emmanuel Uniamikogbo ◽  
Emma I. Okoye ◽  
Arowoshegbe O. Amos
Keyword(s):  
Financial Performance ◽  
Foreign Exchange ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Annual Reports ◽  
Tobin’S Q ◽  
Firm Age ◽  
Income Diversification ◽  
Tobin's Q ◽  
Negative Effect

This study examined the effect of income diversification on financial performance of deposit money banks (DMBs) in Nigeria. Variables considered were commission, foreign exchange incomes, and firm age, which are proxies for income diversification and financial performance proxied by Tobin's Q ratio. The purposive sampling technique was used to select the 8 banks classified by Central Bank of Nigeria to be Domestic Systematically Important Banks in Nigeria. Data collected from the annual reports and the Nigerian Stock Exchange website for a period 2008-2018 were used. Statistical tools used were the descriptive statistics and econometric analysis using the panel data. Findings showed that while commission income has a significant positive effect on Tobin's Q ratio of DMBs, foreign exchange income and firm age each have a significant negative effect on Tobin's Q ratio of DMBs in Nigeria. It is recommended that banks in Nigeria minimize their income from foreign exchange to maximize performance since income from these transactions tend to inhibit bank financial performance.

Corporate governance mechanisms and corporate performance of firms in Nigeria and Ghana

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Martha Coleman ◽  
Mengyun Wu
Keyword(s):  
Corporate Governance ◽  
Ownership Structure ◽  
Financial Distress ◽  
Corporate Performance ◽  
Tobin’S Q ◽  
Tobin's Q ◽  
Content Type ◽  
Structure Index ◽  
The Impact ◽  
The Relationship

PurposeThis study investigates the impact of corporate governance (CG) mechanisms with inclusion of compliance and diligence index on corporate performance (CP) of firms in Nigeria and Ghana. It further examines the moderating effect of financial distress on the relationship between CG and CP.Design/methodology/approachThe study used panel data of 102 nonfinancial listed firms of Nigeria and Ghana stock exchange for the period 2012–2016 with total observation of 510. The study first used OLS in estimating the influence of CG mechanisms on CP. Due to multicollinearity in the independent variables, ridge regression was employed.FindingsIt was revealed that ownership structure index and board compliance and diligence index, board size, board disclosure, ownership structure, shareholders' right and board compliance and diligence index had positive influence on ROA and ROE. Growth of Tobin's Q depends on board procedure and board compliance and diligence index. Also, financial distress (ZFS) negatively moderates the relationship between board structure index, board disclosure index, board procedure index, shareholders' right and performance (ROA and ROE) but negatively moderates between ownership structure index and Tobin's Q.Practical implicationsThis study provides interesting findings to policymakers in full implementation of CG codes as stated by OCED (2015) by West African firms with greater emphasis on compliance and diligence index since it positively influences all CP measures.Originality/valueThe study provides evidence of the importance of the introduction of the new index: compliance and diligence, which looks at disclosure of CSR activities. This has been overlooked by most researchers especially in Africa in assessing quality CG mechanisms.

scholarly journals Pengaruh Mekanisme GCG Dan CSR Terhadap Kinerja Keuangan Yang Dimediasi Manajemen Laba

2021 ◽  
Vol 3 (1) ◽  
pp. 24
Author(s):  
Renaldy Alviansyah ◽  
I Gede Adiputra
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Earnings Management ◽  
Tobin’S Q ◽  
Significant Positive Effect ◽  
Tobin's Q ◽  
Significant Negative Effect ◽  
Negative Effect ◽  
Corporate Social ◽  
Positive Effect

This study examines the impact of corporate governance mechanism and corporate social responsibility to financial performance. This study consists of four independent variables, one mediating variable, and three dependent variables, namely the proportion of independent board of commissioners, institutional ownership, audit committee, and corporate social responsibility as an independent variabel, earnings management as a mediating variable, and ROA, EPS, and Tobin;s Q as the dependent variable. The research method used is descriptive method with a qualitative approach. The sample in this study are 19 manufacturing company which listed on the Indonesia Stock Exchange from 2017 until 2019 who selected through purposive sampling method. The result of this study are the proportion of independent board of commissioners and institutional ownership not significant negative effect on earnings management, the audit committee has a significant positive effect on earnings management, corporate social responsibility has no significant positive effect on earnings management, corporate governance mechanisms do not have a significant negative effect on ROA, the proportion of independent commissioners and institutional ownership did not have a significant negative effect on EPS, the audit committee did not have a significant positive effect on EPS, corporate governance mechanisms did not have a significant positive effect on Tobin's Q, corporate social responsibility did not have a significant negative effect on financial performance, earnings management does not have a significant negative effect on ROA, earnings management has a significant negative effect on Tobin's Q, earnings management does not have a significant positive effect mut on EPS, governance mechanisms per business have a positive effect on ROA and EPS mediated by earnings management, corporate governance mechanisms negatively affect Tobin's Q mediated by earnings management, and corporate social responsibility has a positive effect on mediated financial performance by earnings management.Penelitian ini bertujuan untuk menganalisis pengaruh Mekanisme Tata Kelola Perusahaan dan Tanggung Jawab Sosial Perusahaan terhadap Kinerja Perusahaan. Penelitian ini terdiri dari empat variabel independen, satu variabel mediasi, dan tiga variabel dependen, yaitu proporsi dewan komisaris independen, kepemilikan institusional, komite audit, dan tanggung jawab sosial perusahaan sebagai variabel independen, manajemen laba sebagai variabel mediasi, dan ROA, EPS, dan Tobin’s Q sebagai variabel dependen. Metode riset yang digunakan adalah metode deskriptif dengan pendekatan kualitatif. Sampel dari penelitian ini adalah 19 perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia dari 2017 sampai 2019 yang ditentukan menggunakan metode purposive sampling. Hasil dari penelitian ini adalah proporsi dewan komisaris independen dan kepemilikan institusional berpengaruh negatif tidak signifikan terhadap manajemen laba, komite audit berpengaruh positif signifikan terhadap manajemen laba, tanggung jawab sosial perusahaan berpengaruh positif tidak signifikan terhadap manajemen laba, Mekanisme tata kelola perusahaan berpengaruh negatif tidak signifikan terhadap ROA, proporsi dewan komisaris independen dan kepemilikan institusional berpengaruh negatif tidak signifikan terhadap EPS, komite audit berpengaruh positif tidak signifikan terhadap EPS, mekanisme tata kelola perusahaan berpengaruh positif tidak signifikan terhadap Tobin’s Q, tanggung jawab sosial perusahaan berpengaruh negatif tidak signifikan terhadap kinerja keuangan, manajemen laba berpengaruh negatif tidak signifikan terhadap ROA, manajemen laba berpengaruh negatif signifikan terhadap Tobin’s Q, manajemen laba berpengaruh positif tidak signifikan terhadap EPS, mekanisme tata kelola perusahaan berpengaruh positif terhadap ROA dan EPS dimediasi oleh manajemen laba, mekanisme tata kelola perusahaan berpengaruh negatif terhadap Tobin’s Q dimediasi oleh manajemen laba, dan tanggung jawab sosial perusahaan berpengaruh positif terhadap kinerja keuangan dimediasi oleh manajemen laba.

scholarly journals Ownership structure and corporate financial performance in Bahrain bourse

2015 ◽  
Vol 13 (1) ◽  
pp. 419-434 ◽  
Author(s):  
Reem Khamis ◽  
Wajeeh Elali ◽  
Allam Hamdan
Keyword(s):  
Financial Performance ◽  
Ownership Structure ◽  
Institutional Ownership ◽  
Common Type ◽  
Corporate Financial Performance ◽  
Tobin’S Q ◽  
Tobin's Q ◽  
Ownership Structures ◽  
Different Types ◽  
Different Dimensions

The study aimed at investigating the relation between different types of ownership structures and corporate financial performance. The study sample was 42 companies from all sectors listed in Bahrain Bourse in the period of 2007-2011. Different dimensions of ownership structure were put under scope and two different measurements of financial performance were used (Tobin’s Q and ROA) evaluate the different results from using each one of them, which will help in justifying the conflicting results found by previous studies. Another objective of this study was to explore the patterns of ownership structure found in Bahraini market. It was found that institutional ownership is the most common type of ownership in Bahrain Bourse. The study’s results were conflicting regarding the effect of ownership structure on financial performance using both measurements of performance. It was also found that ROA represents financial performance more that T’Q.

scholarly journals Ownership structure, corporate performance and failure: Evidence from panel data of emerging market the case of Jordan

2009 ◽  
Vol 6 (4) ◽  
pp. 96-114 ◽  
Author(s):  
Rami Zeitun
Keyword(s):  
Ownership Structure ◽  
Emerging Market ◽  
Negative Relationship ◽  
Institutional Ownership ◽  
Performance Measure ◽  
Ownership Concentration ◽  
Tobin’S Q ◽  
Government Ownership ◽  
Tobin's Q ◽  
The Impact

This study investigates the impact of ownership structure (mix and concentrate) on a company’s performance and failure in a panel estimation using 167 Jordanian companies during 1989-2006. The empirical evidence in this paper shows that ownership structure and ownership concentration play an important role in the performance and value of Jordanian firms. It shows that inefficiency is related to ownership concentration and to institutional ownership. A negative correlation between ownership concentration and firm’s performance both, ROA and Tobin’s Q, is found, while there is a positive impact on firm performance MBVR. The research also found that there is a significant negative relationship between government ownership and a firm’s accounting performance, while the other ownership structure mixes have significant coefficients only in Tobin’s Q using the matched sample. Firm’s profitability ROA was negatively and significantly correlated with the fraction of institutional ownership, and positively and significantly related to the market performance measure, MBVR. The result is robust when indicators of both concentration and ownership mix are included in the regressions. The results of this study are, to some extent, inconsistent with previous findings. This paper also used ownership structure to predict the corporate failure. The results suggest that government ownership is negatively related to the likelihood of default. Government ownership decreases the likelihood of default, but has a negative impact on a firm’s performance. The results suggest that, in order to increase a firm’s performance and decrease the likelihood of default, it is reasonable to reduce government ownership to some extent. Furthermore, a certain degree of ownership concentration is needed to increase the firm’s performance and to decrease the firm’s chance of default.

scholarly journals THE IMPACT OF RISK AND REPUTATION ON FINANCIAL PERFORMANCE IN ISLAMIC BANKING: EVIDANCE FROM INDONESIA

2021 ◽  
Vol 5 (2) ◽  
pp. 230-243
Author(s):  
Falikhatun Falikhatun ◽  
Mutiarafah Mutiarafah
Keyword(s):  
Financial Performance ◽  
Risk Mitigation ◽  
Control Variable ◽  
Liquidity Risk ◽  
Profit Sharing ◽  
Least Square ◽  
Financing Risk ◽  
Negative Effect ◽  
The Impact ◽  
Positive Effect

This study aims to examine the impact of risk and reputation on financial performance. More specifically, we use financing risk, liquidity risk, reputation with rewards, and growth in profit-sharing based financing as our variable of interests. We also assign bank size as a control variable. Our data is analyzed using Generalized Least Square (GLS) regression. Islamic Commercial Banks listed in Sharia Banking Statistics (Statistik Perbankan Syariah - SPS) published by OJK in 2015−2019 are selected as our sample. We find that (1) financing risk has a negative effect on financial performance; and (2) both reputation with rewards and bank size have a positive effect on financial performance. However, liquidity risk and growth in profit-sharing based financing do not affect financial performance. Several research implications are the importance of risk mitigation, the importance to maintain the reputation of the Islamic bank’s stakeholders, and creating innovative funding and financing products.

The Impact of Firm Characteristics on Corporate Financial Performance in Emerging Markets

2020 ◽  
Vol 11 (4) ◽  
pp. 70-89
Author(s):  
Salah A. Ali ◽  
Mohamed Yassin ◽  
Rania AbuRaya
Keyword(s):  
Financial Performance ◽  
Audit Committee ◽  
Corporate Financial Performance ◽  
Tobin’S Q ◽  
Firm Characteristics ◽  
Return On Assets ◽  
Tobin's Q ◽  
Return On Equity ◽  
The Impact

This study investigates the impact of firm characteristics on the financial performance of companies listed on the Egyptian stock market. Regression model was performed to regress six firm characteristics variables, namely firm size, foreign listing, age, leverage, liquidity, and assets tangibility. The study controlled for five more variables related to corporate governance including board size, board independence, CEO role duality, audit committee, and the quality of external auditor to avert their effect on financial performance. The study used both accounting measures such as return on assets (ROA) and return on equity (ROE) and market-based Tobin's Q Ratio for measuring financial performance. The findings generally indicate that firm characteristics have an impact on both accounting financial performance as measured by ROA or ROE and market-based financial performance as measured by Tobin's Q, with little difference in the level of such impact. These findings revealed that firm characteristics affect corporate financial performance as evaluated by the company or the market.

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