Simultanitas dan Trade Off Pengambilan Keputusan Finansial Dalam Mengurangi Konflik Agensi : Peran dari Corporate Ownership  

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Jenis: Article from Journal - ilmiah internasional - terdaftar di DIKTI
Dalam koleksi: The Indonesian Journal of Accounting Research (Jurnal Riset Akuntansi Indonesia) vol. 9 no. 3 (Sep. 2006), page 327-345.
Topik: Finansial; agency problems; dividend payout; debt; mangeial ownership; corporate ownership

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: RR17.5 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

This study investigated the simultaneity of four financial variables that are hypothesized to control agency costs. It builds a model showing that debt, dividend, insider ownership and corporate ownership are determined simultaneously as each of the variables is hypothesized to affect agency cost. This study developed the graphical analysis, as well as empirical evidences employing both hausman specification test and three stage least squeares test. The study proved that corporate ownership was determined simultaneously by the other agency control variables, while dividend payout, debt and insider ownership were partially determined by those agency control variables. Finally this study reveals that there is a trade off and simulataneity in financial decision making variables to control the agency costs.

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