PENGARUH BOARD GENDER DIVERSITY & GCG TERHADAP FIRM PERFORMANCE PADA PERUSAHAAN SEKTOR BARANG KONSUMSI YANG TERDAFTAR DI BEI PERIODE 2012 - 2016
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Keywords:
Board Gender Diversity, Good Corporate Governance, Firm Performance
Abstract
This study aims to analyze the effect of board gender diversity, board size, blockholder ownership, firm size, and leverage towards financial firmperformance using Tobin’s Q as a proxy in consumer good sector companies listed in Indonesia Stock Exchange (BEI) in the period 2012-2016. This research uses quantitative approach with multiple regression analysis model. This study uses sample of firms which are listed on consumer good sector in IDX on 2012 -2016. The number of final samples used in this study were 34 business entities with 170 observations. This study uses DWOMEN and PWOMEN to measure board gender diversity. The findings result of this research DWOMEN, PWOMEN, B_SIZE, BHR_OWN and F_SIZE have positive and significant effect towards Tobin’s Q in consumer good sector companies BEI on the period 2012-2016, while LEV have negatif but insignificant effect towards Tobin’s Q in consumer good sector companies BEI on the period 2012-2016.
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References
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Claessens, S., Djankov, S., Fan, J.P.H., Lang, L.H.P., 2002, Disentangling The Incentive and Entrechment Effects of Large Shareholdings, The Journal of Finance, Vol. LVII No.6.
Darko, J., Aribi, Z.A., Uzonwanne G.C., 2016, Corporate Governance: The Impact of Director and Board Structure, Ownership Structure, and Corporate Control on the Performance of Listed Companies on the Ghana Stock Exchange, Corporate Governance, Vol.16 Iss 2 pp.259-277
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Pervan, M. and Visic, J., 2012, Influence of Firm Size on Its Business Success, Croation Operational Research View, Vol.3.
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Rafique, Q., Al Mamun, Y.A., Rodrigs, M., 2017, Impact of Board Structure on Firm Performance: Evidence from an Emerging Economy, Journal of Asia Business Studies, Vol. 11 Iss 2.
Sari, A.A.P.A.M.P., Ardiana, P.A., 2014, Pengaruh Board Size terhadap Nilai Perusahaan, E-Jurnal Akuntansi, Vol.7 No.1
Shleifer, A. and Vishny, R.W., 1997, A Survey of Corporate Governance, The Journal of Finance, Vol. LII No. 2.
Sudiyatno, B. dan Puspitasari, E., 2010, Tobin’s Q dan Altman Z-Score sebagai Indikator Pengukur Kinerja Perusahaan, Kajian Akuntansi,Hal. 9-21
Supriyanto, T.S., Analisis Pengaruh Diversitas Dewan Direksi dan Dewan Komisaris dan Karakteristik Perusahaan terhadap Luas Pengungkapan Corporate Governance: Studi Empiris Bank Syariah, Skripsi, Universitas Diponegoro
Thomsen, S., Pedersen, T., Kvist, H.K., 2005, Blockholder Ownership: Effects on Firm Value in Market and Control Based Governance Systems, Journal of Corporate Finance, Vol. 12 pp. 246-269.
Vo, D. and Phan, T., 2013, Corporate Governance and Firm Performance: Empirical Evidence from Vietnam.
Widarjono, A., 2007, Ekonometrika Teori dan Aplikasi untuk Ekonomi dan Bisnis, edisi kedua, Fakultas Ekonomi UIJ
Yermack, D., 1996, Higher Market Valuations of Companies with a Small Board of Directors, Journal of Financial Economics, Vol. 40 No.2 pp.185-211.
http://ahlibaca.com/pengertian-kinerja-keuangan-perusahaan diunduh pada tanggal 3 April 2017
http://www.kajianpustaka.com/2016/11/pengertian-dan-jenis-jenis- leverage.html diunduh pada tanggal 25 Oktober 2017
Ahmad, N., A. Salman, dan A.F. Shamsi, 2015, Impact of Financial Leverage of Firm’s Profitability: An Investigation from Cement Sector of Pakistan, Research Journal of Finance and Accounting, Vol. 6, No. 7, p. 75 - 80
Al-Matari, E.M., Al-Swidi, A.K., Fadzil, F.H.B., 2014, The Measurements of Firm Performance’s Dimensions, Asian Journal of Finance and Accounting,
Vol.6 No.1.
Analisa, Y., 2011, Pengaruh Ukuran Perusahaan, Leverage, Profitabilitas, dan Kebijakan Deviden terhadap Nilai Perusahaan, Skripsi, Universitas Diponegoro
Azmi, I.A.G. and Barrett, M.A., 2014, Women on Board and Firm Performance in Malaysia: Preparing to Open The Black Box.
Babaola and Abiodun, Y., 2013, The Effect of Firm Size on Firms Profitability in Nigeria, Journal of Economics and Sustainable Development, Vol. 4 No. 5.
Bart, C. and McQueen, G., 2013, Why Women Make Better Directors, International Journal Business Governance and Ethics, Vol. 8 No.1.
Berenson, M. L., et al., 2012, Basic Business Statistics Concept and Aplication 12th Edition, Prentice Hall.
Claessens, S., Djankov, S., Fan, J.P.H., Lang, L.H.P., 2002, Disentangling The Incentive and Entrechment Effects of Large Shareholdings, The Journal of Finance, Vol. LVII No.6.
Darko, J., Aribi, Z.A., Uzonwanne G.C., 2016, Corporate Governance: The Impact of Director and Board Structure, Ownership Structure, and Corporate Control on the Performance of Listed Companies on the Ghana Stock Exchange, Corporate Governance, Vol.16 Iss 2 pp.259-277
Darmadi, S., 2013, Do Women in Top Management Affect Firm Performance? Evidence from Indonesia, Corporate Governance: The International Journal of Business in Society, Vol. 13 Iss 3 pp. 288- 304.
Edmans, A., 2014, Blockholders and Corporate Governance, The Annual Review of Financial Economics, University of Pennsylvania.
Ehikioya, B.I., 2009, Corporate Governance Structure and Firm Performance in Developing Economies: Evidence from Nigeria, Corporate Governance: The International Journal of Business in Society, Vol. 9 Iss 3 pp. 231-243.
Faramita, Yossy, 2016, Pengaruh Keberadaan Dewan Direksi Wanita dan Dewan Komisaris Wanita terhadap Manajemen Laba (Earnings Management) pada Perusahaan Publik di Indonesia, Skripsi, Universitas Lampung
Gallego-Alvarez, Isabel, Garcia-Sanchez, I.M.,Rodriguez-Dominguez, Luis, 2010, The Influence of Gender Diversity on Corporate Performance, Revista de Contabilidad-Spanish Accounting Review, Vol.13 Iss 1 pp. 53- 88.
Ghozali, I., 2009, Ekonometrika: Teori, Konsep, dan Aplikasi dengan SPSS 17.
Gilson, R.J. and Gordon, J.N., 2003, Controlling Controlling Shareholders, Symposium Article, University of Pennsylvania Law Review.
Gordini, N. and Rancati, E., 2017, Gender Diversity in The Italian Boardroom and Firm Financial Performance, Management Research Review, Vol. 40 Iss 1 pp. 75-94.
Guest, P.M., 2009, The Impact of Board Size on Firm Performance: Evidence from The UK, The European Journal of Finance, Vol.15 Iss 4 pp. 385-404.
Gujarati, Damodar N, 1995, Basic Econometrics, 3rd Edition, Mc. Graw- Hill, Singapore
Gujarati, D.N. and Porter, D.C., 2003, Basic Econometrics 4th Edition, New York: McGraw-Hill
Gujarati, Damodar N., dan Dawn C. Porter, 2010, Dasar-dasar Ekonometrika, Edisi 5, Salemba Empat, Jakarta
Hendrick S., Y., dan Fanani, Z., 2016, Struktur Kepemilikan dan Nilai Perusahaan, Journal of Islamic Economics and Business, Vol.9 No.1
Herdiyanto, W.S., 2015, Pengaruh Struktur Utang terhadap KinerjaPerusahaan, Skripsi, Universitas Diponegoro
Iryanto, M.B.W., dan Wahyudi, S., 2010, Mekanisme Bonding dan Nilai Perusahaan, Jurnal Keuangan dan Perbankan, Vol.14 No.3 Hal. 363-376
Jensen, M.C. and Meckling, W.H., 1976, Theory of The Firm: Managerial Behavior, Agency Cost and Ownership Structure, Journal of Financial Economics, Vol. 3 Iss 4 pp.305-360.
Katah, B., 2009, The Impact on Conflict Between Controlling and Minority Shareholders, The Case of Kakuzi Limited, University of Nairobi School of Business.
Kumar, N. and Singh, J.P., 2013, Effect of Board Size and Promoter Ownership on Firm Value: Some Empirical Findings from India, Corporate Governance: The International Journal of Business in Society, Vol. 13 Iss 1 pp. 88-98.
Lazzaretti, K., Godoi, C.K., Camilo, S.P.O., Marcon, R., 2013, Gender Diversity in The Boards of Director of Brazilian Businesses, Gender in Management: An International Journal, Vol. 28 Iss 2, pp.92-110.
Mulyati, S., 2010, Analisis Pengaruh Corporate Governance terhadap Kinerja Perusahaan dan Reaksi Pasar Studi Empiris Perusahan- Perusahan di Bursa Efek Indonesia Tahun 2005 dan Tahun 2007, Thesis, Universitas Indonesia
Nachrowi,D.N., & Usman, H., 2006, Pendekatan Populer dan Praktis Ekonometrika Untuk Analisis Ekonomi dan Keuangan. Jakarta: Fakultas Ekonomi Universitas Indonesia.
Pervan, M. and Visic, J., 2012, Influence of Firm Size on Its Business Success, Croation Operational Research View, Vol.3.
Prasetyorini, B.F., 2013, Pengaruh Ukuran Perusahaan, Leverage, Price Earning Ratio dan Profitablitas Terhadap Nilai Perusahaan, Skripsi, Universitas Negeri Surabaya
Rafique, Q., Al Mamun, Y.A., Rodrigs, M., 2017, Impact of Board Structure on Firm Performance: Evidence from an Emerging Economy, Journal of Asia Business Studies, Vol. 11 Iss 2.
Sari, A.A.P.A.M.P., Ardiana, P.A., 2014, Pengaruh Board Size terhadap Nilai Perusahaan, E-Jurnal Akuntansi, Vol.7 No.1
Shleifer, A. and Vishny, R.W., 1997, A Survey of Corporate Governance, The Journal of Finance, Vol. LII No. 2.
Sudiyatno, B. dan Puspitasari, E., 2010, Tobin’s Q dan Altman Z-Score sebagai Indikator Pengukur Kinerja Perusahaan, Kajian Akuntansi,Hal. 9-21
Supriyanto, T.S., Analisis Pengaruh Diversitas Dewan Direksi dan Dewan Komisaris dan Karakteristik Perusahaan terhadap Luas Pengungkapan Corporate Governance: Studi Empiris Bank Syariah, Skripsi, Universitas Diponegoro
Thomsen, S., Pedersen, T., Kvist, H.K., 2005, Blockholder Ownership: Effects on Firm Value in Market and Control Based Governance Systems, Journal of Corporate Finance, Vol. 12 pp. 246-269.
Vo, D. and Phan, T., 2013, Corporate Governance and Firm Performance: Empirical Evidence from Vietnam.
Widarjono, A., 2007, Ekonometrika Teori dan Aplikasi untuk Ekonomi dan Bisnis, edisi kedua, Fakultas Ekonomi UIJ
Yermack, D., 1996, Higher Market Valuations of Companies with a Small Board of Directors, Journal of Financial Economics, Vol. 40 No.2 pp.185-211.
http://ahlibaca.com/pengertian-kinerja-keuangan-perusahaan diunduh pada tanggal 3 April 2017
http://www.kajianpustaka.com/2016/11/pengertian-dan-jenis-jenis- leverage.html diunduh pada tanggal 25 Oktober 2017
Published
2018-03-01
Section
Bidang Manajemen (M)
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