PENGARUH KEBANGSAAN ANGGOTA DEWAN PADA KINERJA PASAR(Studi Empiris pada Perusahaan Yang Terdaftar di Bursa Efek Indonesia)
ABSTRACT: In corporate
governance literatures, board diversity is often assumed to increase board
efficacy and monitoring, thus increase market performance. In this study board
is defined as the combination of board of commissioners and directors since
Indonesia uses two-tier board system. The purpose of this research is to
investigate the effect of board diversity as measured by board member’s
nationality on firm’s market performance as measured by price to book value
ratio. This research also used company size and industry type as control
variables. Samples consisted of 52 companies in 2006, 69 companies in 2007, and
45 companies in 2008, totalling 166 observation. All sample companies were
listed at Indonesia Stock Exchange from the year 2006 until 2008. The
hypothesis test using multiple regression analysis showed that board member’s
nationality does not have any significant impact on firm’s market performance.
On the other hand, size and industry type do have significant effects on firm’s
market performance.
Keyword: Corporate governance,
board, board diversity, price to book value ratio
Penulis: Ketut Arya Bayu
Wicaksana, I Putu Astawa
Kode Jurnal: jpmanajemendd110153
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