Family Voting Rights, Board Characteristics, and Shareholder Value: Empirical Evidence from Indonesia  

Oleh:

Saiful

Jenis: Article from Journal - ilmiah internasional - terdaftar di DIKTI
Dalam koleksi: The Indonesian Journal of Accounting Research (Jurnal Riset Akuntansi Indonesia) vol. 14 no. 2 (May 2011), page 123-142.
Topik: Board Characteristics; Corporate Governance; Shareholder Value; Family Voting Rights

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: RR17.9 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

This study examines the relationship between board of director characteristics and shareholder value. This study also investigates the moderating role of family voting rights on the relationship between proportion of independent members on board and shareholder value. Based on 88 samples of Indonesian listed companies for the period 2002 to 2005 (352 observations) and using random effect panel data analysis, the results showed that the proportion of independent members on board is positively and significantly associated with shareholder value. It means that the role of an independent board director in advising and monitoring management to act in the best interest of shareholders is effective whether in a developed or in developing market including Indonesia. Further, this study also found that a lower proportion of family voting rights leads to the strengthening of the positive relationship between independent board and shareholder value.

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