The link between corporate governance and owernship to firm performance

• Autorzy: Rachmadianti Verly Arin , Iswajuni

Identyfikatory

DOI

10.17512/pjms.2020.22.2.27

Warianty tytułu

PL

Związek między ładem korporacyjnym i własnością a funkcjonowaniem przedsiębiorstwa

• Języki publikacji: EN

Abstrakty

EN

The determinants of firm performance and its link to corporate governance as well as ownership structure provides managerial implications from the point of view of managerial implications which are of importance to financial markets. Thus, this study examines the relationship between the independent board, audit committees, managerial ownership, institutional ownership, and the principle of large shareholder's structure on firm performance. This study uses multiple regression analysis methods to test hypotheses. This study indicates that audit committees, managerial ownership, and multiple large shareholder structures affect firm performance. In contrast, the independent board of commissioners and institutional ownership do not affect firm performance. This study has a practical implication regarding the importance of having effective audit committee for overseeing the firm reporting and financial performance. Additionally, the board needs to maintain the right size of managerial ownership within the firms to reduce agency costs and hence increase firm performance.

PL

Determinanty wyników firmy i ich związek z ładem korporacyjnym oraz strukturą właścicielską dają implikacje zarządcze z punktu widzenia implikacji zarządczych, które mają znaczenie dla rynków finansowych. W związku z tym niniejsze badanie bada relacje między niezależnym zarządem, komitetami ds. Audytu, własnością zarządczą, własnością instytucjonalną oraz zasadą struktury akcjonariusza w zakresie wyników firmy. Niniejsze badanie wykorzystuje metody analizy regresji wielorakiej do testowania hipotez. Badanie to wskazuje, że komitety ds. Audytu, własność zarządcza i wiele dużych struktur akcjonariuszy wpływają na wyniki firmy. W przeciwieństwie do tego niezależna rada komisarzy i własność instytucjonalna nie wpływają na wyniki firmy. Niniejsze badanie ma praktyczny wpływ na znaczenie posiadania skutecznego komitetu audytu do nadzorowania sprawozdawczości firmy i wyników finansowych. Ponadto rada musi utrzymywać odpowiedni rozmiar własności menedżerskiej w firmach, aby zmniejszyć koszty agencji, a tym samym zwiększyć wydajność firmy.

Słowa kluczowe

EN

independent commissioner; audit committee; company ownership; shareholder; firm performance

PL

niezależny komisarz; komitet audytu; własność spółki; akcjonariusz; wyniki firmy

• Wydawca: Czestochowa University of Technology
• Czasopismo: Polish Journal of Management Studies
• Rocznik: 2020
• Tom: Vol. 22, No. 2
• Strony: 414--427
• Opis fizyczny: Bibliogr. 34 poz., tab.

Twórcy

autor

Rachmadianti Verly Arin

• Department of Accountancy, Faculty of Economics and Business, Universitas Airlangga, Indonesia

autor

Iswajuni

• Department of Accountancy, Faculty of Economics and Business, Universitas Airlangga, Indonesia

Bibliografia

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Uwagi

Opracowanie rekordu ze środków MNiSW, umowa Nr 461252 w ramach programu "Społeczna odpowiedzialność nauki" - moduł: Popularyzacja nauki i promocja sportu (2021).