DO FAMILY CONTROL AND FEMALE DIRECTORS INCREASE FIRM VALUE?

Rizqa Anita, Muhammad Rasyid Abdillah, Giri Suseno, Deliana Erica

Abstract


Abstrak - Apakah Kontrol Keluarga dan Direktur Wanita Meningkatkan Nilai Perusahaan?

Tujuan Utama - Penelitian ini berupaya untuk menyelidiki mekanisme kontrol keluarga dan direktur perempuan untuk peningkatan nilai perusahaan nilai.

Metode – Penelitian ini menggunakan metode regresi berganda. Sampel penelitian adalah perusahaan non-keuangan di Bursa Efek Indonesia periode 2019-2021.

Temuan Utama – Penelitian ini mengungkapkan bahwa kinerja keuangan tidak mampu mejadi jembatan mekanisme dalam meningkatkan nilai perusahaan. Hal ini disebabkan pada perusahaan terbuka tidak terdapat kontrol keluarga yang besar. Selain itu, keberadaan perempuan cenderung bias.

Implikasi Teori dan Kebijakan – Penelitian ini memperluas pemahaman mengenai teori stewardship dan upper echelon untuk menjelaskan bagaimana kontrol keluarga dan direktur wanita mempengaruhi nilai perusahaan. Selain itu, penelitian ini juga menyarankan regulator dan politisi terkait kesadaran gender dalam perusahaan.

Kebaruan Penelitian – Hasil studi ini merupakan upaya awal untuk menetapkan gambaran bagaimana direktur perempuan dan perusahaan keluarga meningkatkan nilai perusahaan.

 

Abstract - Do Family Control and Female Directors Increase Firm Value?

Main Purpose - This research investigates the mechanisms of family control and female directors to increase firm value.

Method – This research uses the multiple regression method. The research sample is non-financial companies on the Indonesia Stock Exchange for 2019-2021.

Main Findings – This research reveals that financial performance cannot be a bridge mechanism in increasing company value. This phenomenon happened because there is no large family control in public companies. Apart from that, the presence of women tends to be biased.

Theory and Practical Implications – This research expands the understanding of stewardship and upper-echelon theory to explain how family control and female directors affect firm value. Apart from that, this research also advises regulators and politicians regarding gender awareness in companies.

Novelty – The results of this study are an initial attempt to paint a picture of how female directors and family firms increase firm value.


Keywords


family control; female directors; financial performance; firm value

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References


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DOI: http://dx.doi.org/10.21776/ub.jamal.2023.14.2.18

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