Pengaruh kepemilikan keluarga dan konsentrasinya terhadap keputusan dan abnormal return merger dan akuisisi studi komparasi perusahaan keluarga non keluarga yang terdaftar di bei tahun 2008 2013 = The effect of family ownership to merger and acquisition decision and abnormal return comparative study family non family firm listed in bei for the period of 2008 2013
Silalahi, Sheila Esther Octavia;
Junino Jahja, supervisor
(Fakultas Ekonomi dan Bisnis Universitas Indonesia, 2016)
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[ ABSTRAK Penelitian ini bertujuan untuk menguji pengaruh kepemilikan keluarga terhadapkeputusan perusahaan non finansial dalam melakukan merger dan akuisisi.Penelitian ini juga menguji pengaruh kepemilikan keluarga terhadap cumulativeabnormal return, ketika perusahaan memutuskan untuk melakukan merger danakuisisi. Regresi logistik untuk 249 perusahaan dalam 6 tahun penelitianmenemukan bahwa perusahaan dengan kepemilikan keluarga secara signifikanlebih pasif dalam melakukan kegiatan merger dan akuisisi. Secara umum, seiringpertambahan persentase kepemilikan keluarga, efek entrenchment semakinmenguat. Walaupun begitu, pengaruh persentase kepemilikan dalam berbagairentang ditemukan berbeda, dikarenakan ada hubungan non linear antarakonsentrasi kepemilikan dengan keputusan merger dan akuisisi. Regresi OLSmenemukan bahwa walaupun sentimen pasar akan kegiatan merger dan akuisisisecara umum positif, namun efeknya melemah seiring dengan pertambahanpersentase kepemilikan dalam perusahaan bidder keluarga. ABSTRACT This research aims to examine the impact of family ownership to merger andacquisition decision. This research also aims to examine the difference of familyownership in terms of market sentiment using proxy stock cumulative abnormalreturn following merger and acquisition. Logistic regression for 249 firms in 6years discovers that family firms are significantly more passive towards mergerand acquisition decision, and this entrenchment effect is reinforced as the familypercentage increases. However, it is found that there is non linear relationshipbetween family percentage and its likelihood to merge and acquire. OLSregression finds that even when merger and acquisition decision generally createpositive value on abnormal return, this effect is weakened as family ownershippercentage increases in bidder firm.;This research aims to examine the impact of family ownership to merger andacquisition decision. This research also aims to examine the difference of familyownership in terms of market sentiment using proxy stock cumulative abnormalreturn following merger and acquisition. Logistic regression for 249 firms in 6years discovers that family firms are significantly more passive towards mergerand acquisition decision, and this entrenchment effect is reinforced as the familypercentage increases. However, it is found that there is non linear relationshipbetween family percentage and its likelihood to merge and acquire. OLSregression finds that even when merger and acquisition decision generally createpositive value on abnormal return, this effect is weakened as family ownershippercentage increases in bidder firm.;This research aims to examine the impact of family ownership to merger andacquisition decision. This research also aims to examine the difference of familyownership in terms of market sentiment using proxy stock cumulative abnormalreturn following merger and acquisition. Logistic regression for 249 firms in 6years discovers that family firms are significantly more passive towards mergerand acquisition decision, and this entrenchment effect is reinforced as the familypercentage increases. However, it is found that there is non linear relationshipbetween family percentage and its likelihood to merge and acquire. OLSregression finds that even when merger and acquisition decision generally createpositive value on abnormal return, this effect is weakened as family ownershippercentage increases in bidder firm.;This research aims to examine the impact of family ownership to merger andacquisition decision. This research also aims to examine the difference of familyownership in terms of market sentiment using proxy stock cumulative abnormalreturn following merger and acquisition. Logistic regression for 249 firms in 6years discovers that family firms are significantly more passive towards mergerand acquisition decision, and this entrenchment effect is reinforced as the familypercentage increases. However, it is found that there is non linear relationshipbetween family percentage and its likelihood to merge and acquire. OLSregression finds that even when merger and acquisition decision generally createpositive value on abnormal return, this effect is weakened as family ownershippercentage increases in bidder firm., This research aims to examine the impact of family ownership to merger andacquisition decision. This research also aims to examine the difference of familyownership in terms of market sentiment using proxy stock cumulative abnormalreturn following merger and acquisition. Logistic regression for 249 firms in 6years discovers that family firms are significantly more passive towards mergerand acquisition decision, and this entrenchment effect is reinforced as the familypercentage increases. However, it is found that there is non linear relationshipbetween family percentage and its likelihood to merge and acquire. OLSregression finds that even when merger and acquisition decision generally createpositive value on abnormal return, this effect is weakened as family ownershippercentage increases in bidder firm.] |
 S61869-sheila esther octavia silalahi .pdf :: Unduh
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| No. Panggil : | S61869 |
| Entri utama-Nama orang : | |
| Entri tambahan-Nama orang : | |
| Entri tambahan-Nama badan : | |
| Subjek : | |
| Penerbitan : | Depok: Fakultas Ekonomi dan Bisnis Universitas Indonesia, 2016 |
| Program Studi : |
| Bahasa : | ind |
| Sumber Pengatalogan : | LibUI ind rda |
| Tipe Konten : | text |
| Tipe Media : | unmediated ; computer |
| Tipe Carrier : | volume ; online resource |
| Deskripsi Fisik : | 135 pages : illustration ; 29 cm. |
| Naskah Ringkas : | |
| Lembaga Pemilik : | Universitas Indonesia |
| Lokasi : | Perpustakaan UI, Lantai 3 |
| No. Panggil | No. Barkod | Ketersediaan |
|---|---|---|
| S61869 | 14-17-877223237 | TERSEDIA |
| Ulasan: |
| Tidak ada ulasan pada koleksi ini: 20421899 |
