scholarly journals WOMEN AT THE LEVEL OF MANAGEMENT, AGENCY CONFLICT MECHANISMS, AND FINANCIAL PERFORMANCE

2020 ◽  
Vol 3 (2) ◽  
pp. 52-62
Author(s):  
Lukas Surjaatmaja ◽  
◽  
Hendra Wijaya ◽  
Keyword(s):  
Firm Performance ◽  
Financial Performance ◽  
Institutional Ownership ◽  
Manufacturing Firms ◽  
Top Management ◽  
Managerial Ownership ◽  
Female Representation ◽  
Return On Equity ◽  
Management Agency ◽  
Agency Conflict

This study analyzes the effect of female representation in top management, agency conflict mechanism on firm performance in Indonesia Manufacturing Firms. Agency conflict in this reseach consist of managerial ownership, institutional ownership, and debt. The sample of this study consist of 90 manufacturing firms over the period 2013-2017. This study measures firm performance with return on asset and return on equity. Data on this research were analyzed using multiple regression. This study found that female representation in top management and managerial ownership do not affect firm performance. This study also found that institutional ownership positively affects the firm performance and debt negatively affects the firm performance

scholarly journals The Effect of Corporate Governance on Firm Performance: Empirical Evidence from Indonesia

2015 ◽  
Vol 3 (1) ◽  
pp. 33-39
Author(s):  
Mariana Ing Malelak ◽  
Sautma Ronni Basana
Keyword(s):  
Corporate Governance ◽  
Data Analysis ◽  
Firm Performance ◽  
Panel Data ◽  
Ownership Structure ◽  
Institutional Ownership ◽  
Managerial Ownership ◽  
Board Structure ◽  
Return On Equity ◽  
Board Of Director

Objective - The main purpose of this research is to examine the effect of corporate governance on firm performance. The corporate governance characteristics was represented by the board structure (board of commissioner, board of director and independent commissioner) and ownership structure (institutional ownership, managerial ownership and public ownership), while the proxy of firm performance is return on equity. Methodology/Technique - This research used data from Indonesian Stock Exchange (IDX) period 2004-2014 with purposive sampling method and panel data regression analysis as data analysis method. Findings - The empirical result indicate that board of director, independent commissioner, institutional ownership and public ownership in a company has significant effect on firm performance, otherwise the board of commissioner and managerial ownership has no significant effect on firm performance. Overall, all of the independent variables (board and ownership structure) have significant effect on firm performance. Novelty - The use of long research period during 2000 to 2014 allows to see the consistency of the application of corporate governance in Indonesia since 2001. Confirmed that Corporate Governance (Board and Ownership Structure) have significant effect on firm performance in Indonesia. Type of Paper - Empirical Keywords : Board Structure; Corporate Governance; Firm Performance; Panel Data Analysis; Return on Equity; Ownership Structure

Pengaruh Kepemilikan Managerial, Institutionalo Prrblik, dan f)kuran Ilewan Direksi Terhadap Nilai Penrsahaan dengan Return On Asset Sebagai Variabel Kontrol

2010 ◽  
Vol 5 (1) ◽  
pp. 70
Author(s):  
Sonny Feriawan
Keyword(s):  
Institutional Ownership ◽  
Top Management ◽  
Managerial Ownership ◽  
Public Ownership ◽  
Return On Assets ◽  
The Public

This research is to see the influence of managerial, institutional, and public ownership and the size of top milMgernent on the value of companies with the return on assets as the controlling variable. This study nkes the benefi* of 67 samples of companies during the period of 2005-2007, which are listed in the Indonesia Stock Exchmrge (BED.By using double regression, it indicates that the managerial ownership and the size of top management have a positive inJluence on the value of the companies. The institutional ownership and the public ownership do not have any influences on thevalue of the companies.Keywords: tnanogerial, institutional, public, the size of top mantagernent, return on assets (ROA), thevalue of company.

scholarly journals The performance of export manufacturing firms: roles of international entrepreneurial capability and international opportunity recognition

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Md Imtiaz Mostafiz ◽  
Murali Sambasivan ◽  
See Kwong Goh
Keyword(s):  
Firm Performance ◽  
Financial Performance ◽  
Structural Equation ◽  
Manufacturing Firms ◽  
Opportunity Recognition ◽  
Entrepreneurial Firms ◽  
Marketing Capability ◽  
Content Type ◽  
Export Manufacturing

PurposeThe international entrepreneurial capability has achieved its legitimacy in international business literature. Leveraging capabilities to recognise opportunities is considered a pivotal strategy to achieve success. Drawing on the entrepreneurship literature and opportunity perspective, this study aims to investigate the role of international entrepreneurial capability in enhancing the international opportunity recognition (IOR) process and the performance of export manufacturing firms.Design/methodology/approachStructural equation modelling has been used to test the hypothesised relationship on 388 export manufacturing entrepreneurial firms operating in the apparel industry of Bangladesh.FindingsThe results signify that three international entrepreneurial capabilities, namely, international networking, learning and marketing capability, positively enhance the IOR process of export manufacturing firms. The IOR process positively mediates the relationships between these international entrepreneurial capabilities and firm performance.Originality/valueMerely having the international entrepreneurial capability is not sufficient to escalate the firm performance. It must be amplified by various strategic actions such as the IOR process. Entrepreneurs need to capitalise on the international entrepreneurial capability to leverage the IOR process and generate non-financial performance success. Entrepreneurial firms that focus more on stimulating non-financial performance can secure better financial performance.

scholarly journals Debt Financing and Firm Performance: Evidence from an Emerging South-Asian Country

2019 ◽  
Vol 10 (1) ◽  
pp. 40
Author(s):  
Mohammad Mazibar Rahman ◽  
Umme Khadija Kakuli ◽  
Shahnaz Parvin ◽  
Ayrin Sultana
Keyword(s):  
Firm Performance ◽  
Capital Structure ◽  
Financial Performance ◽  
Negative Influence ◽  
Short Term ◽  
Return On Assets ◽  
Return On Equity ◽  
Firm Financial Performance ◽  
Total Debt

This paper aims to empirically investigate the impact of capital structure choice on the firm performance of the firms listed under the Dhaka Stock Exchange of Bangladesh. Multiple regression has been employed in this research to determine the relationship between the capital structure and the firm’s financial performance. Three ratios of financial performance, i.e., return on assets, return on equity, and gross margin, have been used as a sample of non-financial Bangladeshi companies, selected from 2010 to 2015. The study records numerous findings. First, the result shows a significant negative influence of long-term debt (LTD) and total debt (TTD) on firm financial performance measured by return on assets (ROA), but no significant relationship is found between short-term debt (STD) and this measure of firm’s financial performance. Moreover, the research found that there is no significant effect of short-term debt, long-term debt and total debt on the firm financial performance measured by return on equity (ROE). Finally, the result shows that a significant negative influence of short-term debt and total debt on firm performance measured by GM, but no significant relationship was found between long-term debt and financial performance. In general terms, the results of this study may suggest that capital structure has a negative influence on firms’ financial performance in Bangladesh.

scholarly journals Does CSR Influence Firm Performance Indicators? Evidence from Chinese Pharmaceutical Enterprises

2019 ◽  
Vol 11 (20) ◽  
pp. 5656 ◽  
Author(s):  
Minghui Yang ◽  
Paulo Bento ◽  
Ahsan Akbar
Keyword(s):  
Firm Performance ◽  
Financial Performance ◽  
Financial Indicators ◽  
Social Dimensions ◽  
Return On Assets ◽  
Environmental Aspect ◽  
Return On Equity ◽  
Earnings Per Share ◽  
Corporate Social ◽  
The Impact

This research is carried out in the backdrop of increasing product quality and environmental degradation scandals associated with Chinese Pharmaceuticals in recent years. We examined the data of 125 Chinese Pharmaceuticals between 2010–2016 to investigate the impact of overall corporate social responsibility (CSR) performance as well as the performance on five unique aspects of CSR such as shareholders, employees, customers and suppliers, environmental practices, and the society to gauge the impact of these individual dimensions on the firm’s financial performance. The Hexun rating system is used to gauge a firm’s CSR performance on various stakeholder dimensions as it is one of the widely accepted CSR measurement criteria in China. The firm performance is measured by Tobin’s Q, return on assets (ROA), return on equity (ROE), and earnings per share (EPS) ratios. The outcome of the panel-based regression models reveals that the overall CSR score has a positive and significant influence on a firm’s financial indicators. Moreover, although all the CSR dimensions relate positively to firm performance, the environmental aspect of CSR has the most profound impact on firm performance followed by customers and suppliers, and employees. However, the shareholders and social dimensions have a relatively lesser influence on firm performance. These results imply that Chinese Pharmaceuticals shall further optimize each aspect of CSR performance as it can not only create a favorable brand image for various stakeholders but also results in sustainable financial performance.

PENGARUH MEKANISME CORPORATE GOVERNANCE TERHADAP MANAJEMEN LABA DAN DAMPAKNYA TERHADAP KINERJA KEUANGAN PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA

2018 ◽  
Vol 16 (1) ◽  
pp. 42 ◽  
Author(s):  
Movie Rahmatika Suryani
Keyword(s):  
Corporate Governance ◽  
Regression Analysis ◽  
Financial Performance ◽  
Audit Committee ◽  
Stock Exchange ◽  
Institutional Ownership ◽  
Earning Management ◽  
Managerial Ownership ◽  
Manufacturing Companies ◽  
Ownership Effect

The main objective of this research is to demonstrate empirically the effect of corporate governance mechanism, such as : board independent, audit committee, institutional ownership, and managerial ownership on the earning management. This research also to demonstrate empirically the effect of earning management on the financial performance in the manufacturing companies listed in Indonesia Stock Exchange (IDX). Samples were taken from the financial statements and annual report companies listed in Indonesia Stock Exchange (IDX) in 2011-2013. The sample was selected using sensus sampling method and acquired 206 companies. Using SPSS version 18 with the method of multiple regression analysis and simple regression analysis with a significance level of 5% specified. The results of this study show that (1) board independent has no effect on earning management, (2) audit committee has no effect on earning management, (3) institutional ownership effect on earning management, (4) managerial ownership effect on earning management, (5) on earning management effect on financial performance measured by ROA and ROE

SERVICE COMPETITION, FIRM PERFORMANCE AND RESOURCE ALLOCATION IN MANUFACTURING: EVIDENCE FROM FIRM-LEVEL DATA IN CHINA

2013 ◽  
Vol 10 (04) ◽  
pp. 1350010 ◽  
Author(s):  
LEI LIN ◽  
GUISHENG WU
Keyword(s):  
Resource Allocation ◽  
Developing Countries ◽  
Firm Performance ◽  
Financial Performance ◽  
Developed Countries ◽  
Manufacturing Firms ◽  
Equation Modeling ◽  
Service Competition ◽  
Resource Endowment ◽  
The Impact

Service-based differentiation competitive strategy has been hugely adopted by manufacturing firms in both developing and developed countries, which would influence firm performance and resource allocation mode. Against the background of developing countries such as China, this empirical study has two purposes. The first is to investigate the impact of service competition on firm performance. The second is to summarize the resource allocation mode which executives would adopt to implement service competition. Based on service-dominant (SD) logic, resource-based view (RBV) and service marketing theory, this paper constructs a theoretical framework to link the organizational resources (product-related resources and service-related resources), competitive advantage (product quality and service quality) and firm performance (financial performance and non-financial performance), and proposes several hypotheses about the relationships among these constructs. Based on the survey data obtained from manufacturing firms in China in 2006, this paper employs a structural equation modeling (SEM) approach with interaction effect involved to test the hypotheses. Several findings are found through data analysis. First, service competition has positive and significant impact on firm performance, and the contribution of product-related inputs on performance is much larger than that of service-related inputs. This implies that though the impact on performance of service competition is comparatively lower, service can still be the source of product differentiation and act as a positive complement to product-based competition. Second, consistent with our theoretical expectation, the finding indicates that there is a substitutive relationship between service-related resource and product-related resource to a certain degree, though weakly supported by data. This can be explained by the factors such as China's initial resource endowment, low-level stage of the market and the industry, etc. Finally, the paper discusses the theoretical and managerial implications of the research findings, which would provide empirical supports for the implementation of service-based differentiation strategy in manufacturing in developing countries.

scholarly journals The Effect of Good Corporate Governance and Environmental Performance on Financial Performance of the Proper Listed Company on Indonesia Stock Exchange

2017 ◽  
Vol 8 (1) ◽  
pp. 1
Author(s):  
Abigail Andriana ◽  
Rosinta Ria Panggabean
Keyword(s):  
Corporate Governance ◽  
Financial Performance ◽  
Environmental Performance ◽  
Audit Committee ◽  
Stock Exchange ◽  
Listed Company ◽  
Managerial Ownership ◽  
Return On Equity ◽  
Good Corporate Governance ◽  
Research Population

This research aimed to determine whether the environmental performance and Good Corporate Governance (GCG) mechanisms, such as managerial ownership, institutional ownership, the proportion of independent commissioners had effects of the audit committee on measured financial performance by using Return on Equity (ROE). This research population was manufacturing company listed on Indonesia Stock Exchange that participated in PROPER 2012/2013 and 2013/2014. Based on the multiple regression analysis, audit committee partially had a significant effect on financial performance, while the others did not. Meanwhile, the analysis result shows that environmental performance and all GCG mechanisms simultaneously have significant effects on financial performance.

scholarly journals The Influence Of Managerial Ownership, Institutional Ownership, And Dividend Policy On The Financial Performance Of Construction And Building Companies Listed On The Indonesia Stock Exchange 2013-2017

2019 ◽  
Vol 3 (1) ◽  
pp. 86-95
Author(s):  
Yeni Sofiana ◽  
Agus Sukoco ◽  
Joko Suyono
Keyword(s):  
Financial Performance ◽  
Significant Influence ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Secondary Data ◽  
Institutional Ownership ◽  
Multiple Linear Regression Analysis ◽  
Managerial Ownership ◽  
Return On Assets

  Purpose: The purpose of this studyisdetermine the influence of managerial ownership, institutional ownership and dividend policy on corporate financial performance with indicators of Return On Assets (ROA).   Design/methodology/approach: The research method used is multiple linear regression analysis.    Findings: Dividend policy has a negative and significant influence on the company's financial performance.Simultaneously managerial ownership, institutional ownership and dividend policy have a significant influence on the company's financial performance. Research limitations/implications: This study uses secondary data from construction and building companies sub-sector companies listed on the Indonesia Stock Exchange.     Practical implications: The results of this study are managerial ownership has a positive and significant influence on the company's financial performance. Originality/value:  Paper type: This paper can be categorized as case study paper. 

scholarly journals Role of Focus and Managerial Ownership in Financial Performance of REITs: An Empirical Examination

2017 ◽  
Vol 9 (1) ◽  
pp. 81-105
Author(s):  
Turki Badi Al-Shimmiri ◽  
Rafiqul Bhuyan ◽  
Wafaa Sbeiti
Keyword(s):  
Financial Performance ◽  
Positive Relationship ◽  
Curvilinear Relationship ◽  
Managerial Ownership ◽  
Agency Conflicts ◽  
Empirical Examination ◽  
Agency Conflict ◽  
Direct Support ◽  
Focus Strategy

In this research, we examine the effect of focus and managerial ownership on the financial performance of REITs. Results demonstrate a positive relationship between focus and financial performance in this sector that are consistent with the findings in current literature. Impact of managerial ownership, however, seems weak on REITs performance. Our findings provide direct support for the convergence-of-interests hypothesis. We also examine the curvilinear relationship between firm performance and managerial ownership already documented in the literature. Our results show that this relation is not supported in the REITs sector. Our results do not support the entrenchment hypothesis.  In addition, when agency conflicts drive the increase in focus strategy is investigated, we find that the agency conflict explanation for increase in focus strategy is warranted.

Sign in / Sign up

Export Citation Format

Share Document