wisnu untoro, wisnu
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Ownership Structure and Publicness of Firms: A Literature Review Untoro, Wisnu
Jurnal Keuangan dan Perbankan Vol 21, No 4 (2017): October 2017
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (155.741 KB) | DOI: 10.26905/jkdp.v21i4.1560

Abstract

There has been an extensive body of literature studying the link between ownership structure and firm performance. Some of them focus on the performance difference across ownership types (i.e. state vs foreign vs private domestic). On the other hand, some studies stress ownership structure on the fraction of ownership based on agency theory (i.e. majority versus minority) and its derivatives (e.g. ultimate ownership, cross-listing). However, an important element has not been explored while discussing the ownership structure of firms which is the concept of the publicness of firms. Publicness is important to explain to which extent an organization is related to governmental institutions. In fact, there are many engagements of firms with governmental bodies (e.g. deposit and lending from and to the public organization). In this present paper, I provide a comprehensive literature review on the intersection between the publicness level of firms and ownership structure. Going deeper, I also provide a literature review on the measurement of publicness and postulate a model to link between these two and firm performance as a venue for future studies.DOI: https://doi.org/10.26905/jkdp.v21i4.1560
Women in Top Management and Bank Performance: Evidence from Indonesia Sawitri, Hunik Sri Runing; Untoro, Wisnu; Trinugroho, Irwan
The Indonesian Capital Market Review Vol. 8, No. 1
Publisher : UI Scholars Hub

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Abstract

We investigate the impact of the presence of women in top management on bank performance controlling for bank specific factors, ownership and governance. By making use of sample of 70 Indonesian banks in a cross section study, we find strong evidence that the presence of women in the executives is negatively associated with firm performance. Moreover, we examine the moderating effect of TMT organizational tenure and TMT age. However, only little evidence is found in the effect of our moderating variables.