Susanto, William and Nuringsih, Kartika The Parabolic Effect of Managerial Ownership and the Impact Toward Firm’s Performance. The Parabolic Effect of Managerial Ownership and the Impact Toward Firm’s Performance.
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Abstract
The purpose of the study is to analyze the impact determinants and the parabolic
effect of managerial ownership on a firm’s performance. The model consists of managerial
ownership, institutional ownership, family ownership, leverage, asset growth, dividend
policy, business risk, and firm size. Purposive sampling is used on non-financial companies
in the Indonesian Stock Exchange with a total observation of 539 firm-years. The panel least
square is used to analyze the determinants of performance while Panel EGLS is used to
analyze the parabolic effect. The study finds that managerial ownership, institutional
ownership, dividend policy, and firm size have a positive and significant impact on the
firm’s performance. Contrarily, some variables e.g., family ownership, leverage, and asset
growth have a negative significant impact on performance. Business risk is not able to prove
a significant relationship with performance. Further, the study shows a parabolic effect of
managerial ownership, therefore, it proves a model for reducing agency conflict on
corporate financial decisions.
Keywords: Firm’s Performanc
| Item Type: | Article |
|---|---|
| Subjects: | Penelitian > Fakultas Ekonomi |
| Divisions: | Fakultas Ekonomi > Manajemen |
| Depositing User: | Puskom untar untar |
| Date Deposited: | 11 Nov 2020 09:31 |
| Last Modified: | 11 Nov 2020 09:31 |
| URI: | https://repotest.untar.ac.id/id/eprint/13229 |
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