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UI - Skripsi (Open) :: Kembali

Analisis pengaruh struktur kepemilikan terhadap kinerja perusahaan berdasarkan siklus hidup (studi pada perusahaan manufaktur, IT dan multimedia yang terdaftar di Bursa Efek Indonesia periode 2005-2010) = Analysis of the effect of ownership structure on firm performance based on life cycle (a study of manufacturing, IT, and multimedia firms listed in Indonesia Stock Exchange for the period of 2005-2010)

(Fakultas Ilmu Sosial dan Ilmu Politik Universitas Indonesia, 2012)
 Abstrak
[Struktur kepemilikan dinilai sebagai faktor yang mempunyai pengaruh paling
kuat terhadap corporate governance dan juga memiliki hubungan dengan kinerja
perusahaan. Penelitian ini bertujuan untuk menganalisis pengaruh struktur
kepemilikan (insider ownership?board and managerial ownership, blockholder
ownership; dan institutional ownership concentration?pressure-insensitive dan
pressure-sensitive) terhadap kinerja perusahaan (industry adjusted return on
asset/IAROA) berdasarkan siklus hidup. Penggunaan siklus hidup bertujuan untuk
menguji apakah pengaruh struktur kepemilikan pada kinerja perusahaan berbeda
untuk setiap tahap siklus hidup. Penelitian ini menggunakan data panel tidak
seimbang sejumlah 695 observasi dari sampel perusahaan yang bergerak di sektor
manufaktur, IT, dan multimedia periode 2005-2010. Hasil penelitian
menunjukkan bahwa: (1) insider ownership memiliki pengaruh yang non linear
terhadap IAROA secara signifikan, di mana pengaruh tersebut ditunjukan dengan
kurva yang membentuk huruf U (U-shaped), (2) blockholder memiliki pengaruh
positif terhadap IAROA secara signifikan pada perusahaan tahap mature,
sebaliknya, pada perusahaan tahap growth berpengaruh negatif dan signifikan, (3)
institutional ownership concentration memiliki pengaruh negatif terhadap IAROA
secara siginfikan pada seluruh sampel dan sebaliknya pada perusahaan tahap
mature, memiliki pengaruh positif secara siginifikan, serta (4) kepemilikan
institusi pressure-insensitive dan pressure-sensitive memiliki pengaruh positif dan
signifikan terhadap IAROA pada perusahaan tahap mature, dan sebaliknya pada
perusahaan tahap growth, memiliki pengaruh negatif dan signifikan.


Abstract

Ownership structure is assessed as a factor that has the strongest effect on
corporate governance and has a relation with firm performance as well. This
research aims to analyze the effect of ownership structure (insider ownership?
board and managerial ownership, blockholder ownership; and institutional
ownership concentration?pressure-insensitive and pressure-sensitive) on firm
performance (industry adjusted return on asset/IAROA) based on the firm?s life
cycle. The using of life cycle aims to examine whether the effect of ownership
structure on firm performance will be different for each life cycle stages. This
research uses an unbalanced panel data of 695 observations of manufacturing,
IT, and multimedia firms for the period 2005-2010. The result shows: (1) insider
ownership has a significant non linear effect on IAROA shown by the U -shaped
curve, (2) blockholder has a significant positive effect on IAROA in a mature
firms, however, it has a significant negative effect on growing firms (3)
institutional ownership concentration has a significant negative effect on IAROA
for all samples, while in mature firms has a significant positive effect, and (4)
institutional ownership for pressure-insensitive and pressure-sensitive have
significant positive effect on IAROA in mature firms, otherwise, growing firms has
a significant negative effect., Ownership structure is assessed as a factor that has the strongest effect on
corporate governance and has a relation with firm performance as well. This
research aims to analyze the effect of ownership structure (insider ownership?
board and managerial ownership, blockholder ownership; and institutional
ownership concentration?pressure-insensitive and pressure-sensitive) on firm
performance (industry adjusted return on asset/IAROA) based on the firm?s life
cycle. The using of life cycle aims to examine whether the effect of ownership
structure on firm performance will be different for each life cycle stages. This
research uses an unbalanced panel data of 695 observations of manufacturing,
IT, and multimedia firms for the period 2005-2010. The result shows: (1) insider
ownership has a significant non linear effect on IAROA shown by the U -shaped
curve, (2) blockholder has a significant positive effect on IAROA in a mature
firms, however, it has a significant negative effect on growing firms (3)
institutional ownership concentration has a significant negative effect on IAROA
for all samples, while in mature firms has a significant positive effect, and (4)
institutional ownership for pressure-insensitive and pressure-sensitive have
significant positive effect on IAROA in mature firms, otherwise, growing firms has
a significant negative effect.]
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 Metadata
No. Panggil : S-Pdf
Subjek :
Penerbitan : [Place of publication not identified]: Fakultas Ilmu Sosial dan Ilmu Politik Universitas Indonesia, 2012
Program Studi :
Kode Bahasa : ind
Sumber Pengatalogan : none
Tipe Konten : none
Tipe Media : none
Tipe Carrier : none
Deskripsi Fisik : xv, 151 hlm. : il. ; 30 cm. + lamp.
Catatan Bibliografi : hlm. 112-118
Naskah Ringkas : none
Lembaga Pemilik : Universitas Indonesia
Lokasi : Perpustakaan UI, Lantai 3
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No. Panggil No. Barkod Ketersediaan
S-Pdf TERSEDIA
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