scholarly journals Analisis Pengaruh Keterlibatan Keluarga terhadap Kinerja Perusahaan di Indonesia

Owner ◽  
2022 ◽  
Vol 6 (1) ◽  
pp. 359-368
Author(s):  
Santi Yopie ◽  
Chrislin Chrislin
Keyword(s):  
Firm Performance ◽  
Family Firms ◽  
Negative Impact ◽  
Positive Impact ◽  
Stock Exchange ◽  
Family Firm ◽  
Cross Sectional ◽  
Firm Reputation ◽  
Family Presence ◽  
Study Results

Family businesses have steadily dominated the economy sector in recent decades. A number of scholars have focused on the link between management by family members and firm performance. However, the findings are not conclusive and vary. As a result, a re-examination is necessary. The goal of this research is to determine the possible influences caused by family presence, non-family shareholders, professional president directors, and founder-managed firms on firm performance, as well as the link between family presence and firm performance when family firm reputation is taken into the account. Firm performance was valued by measuring return on asset and equity, sales growth, and tobin’s q. This study examined 600 samples consisting 120 family firms in manufacturing and service sectors on Indonesia’s Stock Exchange beginning with the year 2016 – 2020. To make data analysis more straightforward, panel regression research (time series and cross-sectional data) was conducted utilizing PLS 3.0 software. The study results prove family presence, professional president directors, and founder-managed firms have positive impact on firm performance. Meanwhile, non-family shareholders showed negative impact towards firm performance. Furthermore, the findings of this study also show the favorable impact of family presence on firm performance may be bolstered by family firm reputation.

scholarly journals Female Directors, Family Ownership and Firm Performance in Jordan

2019 ◽  
Vol 11 (1) ◽  
pp. 206 ◽  
Author(s):  
Zaid Saidat ◽  
Claire Seaman ◽  
Mauricio Silva ◽  
Lara Al-Haddad ◽  
Zyad Marashdeh
Keyword(s):  
Firm Performance ◽  
Financial Performance ◽  
Family Firms ◽  
Negative Impact ◽  
Positive Impact ◽  
Stock Exchange ◽  
Least Square ◽  
Public Firms ◽  
Female Directors ◽  
The Impact

This study examines the impact of female directors on the financial performance of family and non-family Jordanian firms. A sample of 103 Jordanian public firms listed on Amman Stock Exchange for the time period 2009-2015 was selected. The study had a quantitative approach and used a panel data methodology. The data analysis was conducted using Ordinary Least Square Regression. ROA and Tobin’s Q were deployed as measurement of financial performance. The appointment of female directors does not have any significant impact on the financial performance of family firms. However, with regard to non-family firms, female directors appeared to have a negative impact on the performance of these firms. The impact of female directors on family firm performance merits further research in the context of different countries and cultures. Appointments based on qualifications and expertise is more likely to have a positive impact. Jordan is an under-researched area where the impact of female directors on the firm performance would merit further research. Differentiating between the impact of female directors on family and non-family firms would also merit further research, especially in the context of the conditions under which they are appointed.

scholarly journals The Impact of Financial Structure Towards Performance of Non-Financial Companies Listed on Amman Stock Exchange

2021 ◽  
Vol 20 (1) ◽  
pp. 61-83
Author(s):  
Laith Fouad Alshouha ◽  
◽  
Wan Nur Syahida Wan Ismail ◽  
Mohd Zulkifli Mokhtar ◽  
Nik Mohd Norfadzilah Nik Mohd Rashid ◽  
...  
Keyword(s):  
Firm Performance ◽  
Negative Impact ◽  
Positive Impact ◽  
Stock Exchange ◽  
Financial Structure ◽  
Managerial Ownership ◽  
Data Set ◽  
Amman Stock Exchange ◽  
The Impact ◽  
The Relationship

The purpose of the current study was to investigate the relationship between financial structure towards the financial performance of companies listed on Amman stock exchange (ASE) as one of the emerging economies. This paper adopted a panel data set of 88 non-financial companies listed on the ASE over a period of 10 years from 2009 to 2018. According to empirical results that there is significant evidence to support the fact that debt repaying ability (DRAB), managerial ownership (MANOW), and foreign ownership (FOROW) are positively related to firm performance. Otherwise, the findings revealed no evidence to support the impact of the financial structure ability (FSA) towards firm performance. Moreover, the findings support the fact that firm size (SIZ) has a positive impact on firm performance of companies listed on the ASE. On the other hand, (AGE) has a negative impact on firm performance, while (GROWTH) has no impact on firm performance. The current study encourages managers to maintain a good percentage of debt repaying ability and owners to grant shares as managers’ incentives, and also to attract foreign investors. Future studies, should try applying the current study on the financial sector.

scholarly journals The Effect of IAS-24 Disclosures on Governance Mechanisms and Ownership Structures in Pakistan

2016 ◽  
Vol 5 (1) ◽  
pp. 15-36
Author(s):  
Abdul Rafay Abdul Rafay ◽  
Ramla Sadiq ◽  
Mobeen Ajmal
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Financial Reporting ◽  
Negative Impact ◽  
Positive Impact ◽  
Stock Exchange ◽  
Institutional Ownership ◽  
Governance Mechanisms ◽  
Ownership Structures ◽  
The Impact

IAS-24 of the International Financial Reporting Standards focuses on the concept and disclosures of related party transactions (RPTs) for a reporting entity. This study examines the interrelationship between RPTs (as disclosed under IAS-24), agency theory, ownership structures and firm performance. Our sample includes nonfinancial companies indexed by the KSE-100 of the Pakistan Stock Exchange during 2006–15. To run the regression models, we determine the regression assumptions, normality, heteroskedasticity, autocorrelation and multicollinearity. We investigate the impact of different RPTs, including cash inflows and outflows, whereas other studies generally look at the impact of RPTs on firm performance in totality. The empirical analysis suggests that institutional ownership has a positive, significant impact on firm performance. Related party purchases have a significant, negative impact on performance, resulting in the expropriation of institutional ownership. RPTs that generate revenues have a significant, positive impact on performance, such that institutional ownership has a propping-up effect with respect to the related parties. In practice, institutional ownership leads to strong corporate governance and contributes to firm performance. While other studies find family ownership responsible for the expropriation effect, we argue that institutional ownership has a propping-up and expropriation effect on related parties. Our study also suggests that certain ownership structures lead to weaker corporate governance mechanisms, resulting in greater agency problems. This, in turn, badly affects company performance and leads to the exploitation of minority shareholders.

Audit Characteristics, Gender Diversity and Firm Performance: Evidence from a Developing Economy

2021 ◽  
Vol 14 (1) ◽  
pp. 48-70
Author(s):  
Mohammad Rajon Meah ◽  
Kanon Kumar Sen ◽  
Md. Hossain Ali
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Audit Committee ◽  
Significant Contribution ◽  
Family Firms ◽  
Negative Impact ◽  
Interaction Analysis ◽  
Gender Diversity ◽  
Family Firm ◽  
The Impact

This study aims to explore the impact of audit characteristics and gender diversity on firm performance across family and non-family firms in Bangladesh. Using data of 61 non-family and 48 family firms from 2013 to 2019, this study applies system generalised method of moments approach to carry out regression analysis. Next, the consistency of results is detected by a full sample interaction analysis. In case of non-family firm, this study documents that Big4 audit firms (Big4) and female directors on board (FDR) have significant positive impact on firm performance. Conversely, audit meeting frequency (AMF) contributes negatively to the firm performance. Unfortunately, audit committee size (ACS) and audit committee independence (ACI) have no significant contribution on firm performance. In case of family firms, this study finds that ACS and ACI have significant negative impact on firm performance. Besides, Big4, AMF and FDR have no significant contribution on firm performance. It reflects that corporate governance mechanisms in family firm are not working well and even to some extent detrimental to the firm performance. It, ultimately, demands for reforms in corporate governance framework and incorporating new dimensions for family firms.

The relationship between corporate governance mechanisms and internet financial reporting in Iran

2018 ◽  
Vol 18 (6) ◽  
pp. 1021-1041 ◽  
Author(s):  
Farzaneh Nassir Zadeh ◽  
Mahdi Salehi ◽  
Haneyeh Shabestari
Keyword(s):  
Financial Reporting ◽  
Negative Impact ◽  
Positive Impact ◽  
Stock Exchange ◽  
Chief Executive ◽  
Financial Leverage ◽  
Cross Sectional ◽  
Content Type ◽  
Board Of Director ◽  
Corporate Governance Mechanisms

PurposeThe purpose of this study is to investigate the influence of the ownership of institutional shareholders, the proportion of non-executive members, the percentage of ownership of major shareholders, the duality of the tasks of chief executive officer and chairman of the board of director, financial leverage, the amount of the remuneration of the board of director, the company’s life and the amount of export on internet financial reporting.Design/methodology/approachFor this purpose, the authors surveyed the 301 listed companies on Tehran Stock Exchange in 2015. The statistical method used to test the hypothesis of the study was cross-sectional data.FindingsThe results indicate the negative impact of ratio of non-executive members and the positive impact of financial leverage, size, liquidity and the life of the company in stock, over internet financial reporting.Originality/valueThe current study is almost the first study which is conducted in a developing country, and the results may helpful to the other developing nations.

scholarly journals Why do family firms congregate in certain industries?

2010 ◽  
Vol 8 (1) ◽  
pp. 346-359
Author(s):  
En-Te Chen ◽  
John Nowland
Keyword(s):  
Firm Performance ◽  
Positive Relationship ◽  
Family Firms ◽  
Stock Exchange ◽  
Family Firm ◽  
Board Independence ◽  
Taiwan Stock Exchange ◽  
Fixed Assets ◽  
And Performance ◽  
Industry Conditions

We propose that family firm involvement and performance across industries is not random and is related to specific industry conditions. Using the population of listed companies on the Taiwan Stock Exchange over the period 1997-2007 we find that family firms are more involved in industries with greater fixed assets and lower board independence. We document a positive relationship between family firm involvement and performance, which indicates a net advantage for family firm shareholders in industries where family firms congregate. However, we also find that family firm performance is negatively affected when family firms use more debt and maintain a higher control wedge than their industry counterparts.

scholarly journals Corporate ownership structure and firm performance: Evidence from the Netherlands

2008 ◽  
Vol 6 (2) ◽  
pp. 382-392
Author(s):  
Bart Frijns ◽  
Aaron Gilbert ◽  
Peter Reumers
Keyword(s):  
Firm Performance ◽  
Ownership Structure ◽  
Positive Relationship ◽  
Negative Impact ◽  
Positive Impact ◽  
Stock Exchange ◽  
Simultaneous Equation ◽  
Equation Model ◽  
Corporate Ownership ◽  
Corporate Ownership Structure

This paper examines the relationship between corporate ownership structure and firm performance. For a sample of 100 Dutch firms listed on the Amsterdam stock exchange, we collect data on the shareholdings of the 5 largest shareholders and the total fraction of shares held by insiders. In addition, we collect information on the type of largest shareholder. Using a simultaneous equation model, estimated by three-stage least squares, to control for a potential endogeneity bias, we find a significant positive relationship between the holdings of the largest shareholder and firm performance. Likewise we find a significantly positive relationship for the stake held by insiders. Further testing provides some evidence that this relationship is nonlinear, i.e. at lower stakes insider ownership aligns management with shareholder, whereas at higher stakes entrenchment of management depresses performance. Splitting the sample into different types of owners provides some evidence that financials have a negative impact on performance, while other firms have a positive impact.

scholarly journals PERAN LEVERAGE SEBAGAI PEMODERASI: REVALUASI ASET TETAP, KEBIJAKAN DIVIDEN, NILAI PERUSAHAAN

2020 ◽  
Vol 7 (2) ◽  
pp. 171
Author(s):  
Irham Salman ◽  
Amrie Firmansyah ◽  
Meicha Rizka Widyaningrum
Keyword(s):  
Firm Value ◽  
Negative Impact ◽  
Positive Impact ◽  
Stock Exchange ◽  
Cross Sectional ◽  
Financial Report ◽  
Dividend Policies ◽  
Final Sample ◽  
Fixed Assets ◽  
Industry Sectors

<em>The firm value is closely related to the market's reaction to the information provided by management so that such information can influence investor behavior. This study is aimed to examine the effect of the revaluation of fixed assets and dividend policies on firm value. In addition, this study uses leverage as a moderation variable. This study employs a quantitative method with cross-sectional data. The data used in this study is secondary in the form of corporate financial statements registered in the Indonesian Stock Exchange (BEI) of the basic and chemical industry sectors from 2014 to 2016. Data obtained from the official website of the Indonesian Stock Exchange (BEI) through the site Http: / /www.idx.co.id. Sampling in this study uses purposive sampling method, so the final sample in the study is 34 observations. This study suggests that asset revaluation is negatively association with firm value, while dividend policy is not associated with firm  value. Furthermore, leverage successfully reinforces the negative impact of revaluation of fixed assets on firm value. Alson, leverage strengthens the influence of dividend policies that previously had no significant impact, becoming a significant positive impact on firm value. The results of this study show that financial report information can be used by investors in making investment decisions in the capital market, especially in relation to information on the revaluation of fixed assets conducted by the company</em>.

Corporate Social Responsibility and Earnings Management: The Moderating Role of Family Ownership

2019 ◽  
Vol 12 (1) ◽  
Author(s):  
Asif Saeed ◽  
Aijaz Mustafa Hashmi ◽  
Attiya Yasmin Javid
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Earnings Management ◽  
Family Firms ◽  
Negative Impact ◽  
Stock Exchange ◽  
Least Square ◽  
Family Ownership ◽  
Corporate Social ◽  
The Impact

This study aims to explore the impact of family ownership on the relationship among corporate social responsibility (CSR) and earning management (EM) in Pakistan. Data is collected from nonfinancial listed firms on Pakistan Stock Exchange (PSE) for the period 2009-2017. Our results of pooled ordinary least square regression indicate that CSR has significant negative impact on EM. Furthermore, results also indicate that association between CSR and EM is moderated by family ownership. Family firms which perform CSR activities are less involved in EM as compare to nonfamily firms perform CSR activities. This variation in behavior of EM in family and non-family firms can possibly be explained by socioemotional wealth theory. Keywords: Corporate Social Responsibility, Earnings Management, Family Ownership

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