Simulataneous Relationship Between Ownership Structure, Corporate Governance, and Firm Value in Indonesia  

Oleh:

Kim Sung Suk

Jenis: Article from Journal - ilmiah nasional - terakreditasi DIKTI
Dalam koleksi: The South East Asian Journal of Management vol. 2 no. 1 (Apr. 2008), page 1-26.
Topik: Ownership Structure; Corporate Governance; Firm Value

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: SS54.1 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

The primary objective of this study is to test the simulataneous relationship between the firm value, the corporate governance practice, and the ownership structure on a sample of 114 companies quoted in the Jakarta Stock Exchange (JSX). The study finds that the corporate governance practice fails to affect the firm value, but the firm value is a positive predictor corporate governance practice. Further, the influence of corporate governance practice on the firm value becomes less when the wedge of the firm becomes higher. The ownership structure and the firm value have no systematic rel;ationship. Controlling shareholders and foreign blockholders that presumably are INdonesian blockholders (FBIB) do not extract private benefits for themselves or do not expropriate the wealth of the minority shareholders. But, the percentage of ownership by FBIB has negative influence on corporate governance practice.

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