Detail Cantuman
Advanced SearchHow ownership structure influences firm performanc
Ownership structure is considered to be the most influential component
in corporate govern-ance; it is also closely related to firm
performance. The current research analyzes the effect of ownership
structure (both insider ownership board and managerial ownership,
blockholder ownership and institutional ownership concentration
pressure-insensitive and pres-sure-sensitive) on firm performance
(industry adjusted return on asset/IAROA) based on its life cycle. Life
cycle is incorporated into the research to examine whether the effect of
own-ership structure on firm performance differs at each stage of the
life cycle. The current re-search uses imbalanced panel data consisting
of 695 observations of sample firms from the manufacturing, IT, and
multimedia firms during the 2005-2010 period. The results show that: (1)
insider ownership has a significantly non-linear influence on IAROA,
indicated by a U-shaped curve (2) blockholders have a significantly
positive effect on IAROA in firms at the mature stage; on the contrary,
the effect is significantly negative in firms at the growth stage (3)
institutional ownership concentration has a significantly negative
effect on IAROA across the samples and a significantly positive effect
on firms at the mature stage, and (4) pressure-insensitive and pressure-
sensitive
institutional ownerships have a positive and sig-nificant effect on
IAROA in firms at the mature stage; on the contrary, the effect is
negative and significant in firms at the growth stage.
Ketersediaan
Tidak ada salinan data
Informasi Detil
Judul Seri |
-
|
---|---|
No. Panggil |
-
|
Penerbit | Prasetiya Mulya Publishing : Jakarta., December 2012 - Marc |
Deskripsi Fisik |
p. 181 - 194
|
Bahasa | |
ISBN/ISSN |
2089-6271
|
Klasifikasi |
-
|
Tipe Isi |
-
|
Tipe Media |
-
|
---|---|
Tipe Pembawa |
-
|
Edisi |
-
|
Subyek |
-
|
Info Detil Spesifik |
-
|
Pernyataan Tanggungjawab |
-
|
Versi lain/terkait
Tidak tersedia versi lain