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Perubahan Kepemilikan Manajerial dan Perubahan Nilai Perusahaan Madyan, Muhammad; Pratiska, Riska Gita; Kholidah, Himmatul
Jurnal Manajemen dan Bisnis Indonesia Vol 6 No 1 (2018): Jurnal Manajemen Bisnis Indonesia - Edisi Oktober 2018
Publisher : Forum Manajemen Indonesia (FMI)

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (25.398 KB) | DOI: 10.31843/jmbi.v6i1.186

Abstract

Managerial ownership is an important element in reducing the agency conflict that occurs in a firm. The ownership can provide manager’s incentives to perform optimally in achieving the firm’s goal to improve firm value. Managers in each firm will adjust their ownership to respond firm value. That adjustment can create a changes in managerial ownership. This study aims to examine the relation between changes in managerial ownership to changes in firm value that used a non-financial firms from 2009-2011 as a sample. The results show that  negative  changes  on  managerial  ownership  have  a  negative  and  significant  to changes in firm value, while positive changes on managerial ownership have a positive and not significant to changes in firm value.   Keywords: Managerial ownership, changes in managerial ownership, and changes in firm value
FAMILY CONTROL, INSTITUTIONAL OWNERSHIP, AND DIVIDEND POLICY OF MANUFACTURING COMPANIES LISTED IN INDONESIA STOCK EXCHANGE Madyan, Muhammad; Meidiaswati, Harlina; Sasikirono, Nugroho; Herlambang, Muhammad Hadyan
Jurnal Reviu Akuntansi dan Keuangan Vol 9, No 1: Jurnal Reviu Akuntansi dan Keuangan
Publisher : Universitas Muhammadiyah Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1020.564 KB) | DOI: 10.22219/jrak.v9i1.8293

Abstract

This study is conducted to examine the effect of family share ownership on the dividend policy of manufacturing companies in the Indonesia Stock Exchange (IDX). In this study, we also examine the moderating effect of institutional ownership on the relationship between family ownership and dividend policy. The number of observations 137 firm-years, consisting of family companies in the manufacturing sector listed on the IDX in the period 2013-2016. The test results show that family ownership has a positive effect on the dividend payout ratio. Research also shows that institutional ownership weakens the relationship between family ownership and dividend payout ratio.
ZOMBIE COMPANY AND CSR PERFORMANCE WITH CORPORATE GOVERNANCE AND OWNERSHIP AS MODERATOR VARIABLES Madyan, Muhammad; Sasikirono, Nugroho; Maulidya, Putri
Riset Akuntansi dan Keuangan Indonesia Vol 5, No 3 (2020): Riset Akuntansi dan Keuangan Indonesia
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/reaksi.v5i3.11756

Abstract

This study aims to determine the relationship between zombie companies and the performance of corporate social responsibility, with corporate governance and ownership as moderator variables. A zombie company is a near-insolvent firm due to inefficiency and low profitability but still survive with external support from the government or bank (Kane, 1987). The determination of the sample is done by a purposive sampling method, with OLS and Moderated Regression Analysis methods. The number of research samples is 288 companies with a total of 1865 observations for the period 2010-2017. The analysis shows that CSR performance in zombie companies is lower than that of non-zombies. The moderator variable of corporate governance is proxied by board composition, while ownership is proxied by family ownership and institutional ownership. The board composition and institutional ownership variables do not moderate the negative effects of zombie companies on CSR performance, while the family ownership variable worsens the relationship between zombie companies and CSR performance. The research control variables are financial leverage, a dummy of state-owned enterprise, and firm size. While financial leverage has no effect on the CSR performance, the state-owned enterprise and firm size are positively related to that performance.
PENGARUH BOARD CHARACTERISTICS PROPORSI WOMAN ON BOARD PADA KINERJA KEUANGAN Alamsyah, Fatimah; Madyan, Muhammad
JMBI UNSRAT (Jurnal Ilmiah Manajemen Bisnis dan Inovasi Universitas Sam Ratulangi). Vol 8, No 2 (2021): JMBI UNSRAT Volume 8 Nomor 2
Publisher : FEB Universitas Sam Ratulangi Manado

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35794/jmbi.v8i2.34663

Abstract

Financial performance is the main benchmark in assessing whether or not performance in company can be measured through the financial performance each company. Measuring financial performance can be seen by two sides, from internal and external factors. According to IICG (Indonesian Institute of Corporate Governance) corporate governance is a process and structure that is applied in running company, with the aim of increasing value in the long term while it still paying attention to the interest of other stakeholder. Woman on board is a gender diversity that is included in the board diversity section. The presence of women at the top management level in Indonesia is still small. It is assumed that the competence and skill of men are better than women, so it called a reaction arises, namely overconfidence. Indonesia got the lowest results of all countries with a percentage only 5.4% where from this data it can be proven that the role of women on the board for the Indonesia state is still dominated by men in decision-making policies and corporate governance. This study uses 111 sample of basic and chemical industrial companies, miscellaneous industry, consumer goods, utility, infrastructure and transportation for the period 2015 -2017. Where the result of the study indicate that the influence of Board Female Proportions (BFP) has a negative and significant influence on the company’s financial performance.