Board of Directors Structure and Firm Performance: Evidence from Indonesia and Malaysia

Fajarwati, Elisa; Witiastuti, Rini Setyo

doi:10.15294/maj.v11i1.51672

Cited by 9 publications

(17 citation statements)

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“…The results of this study are in line with Zehir et al (2023), which states that an independent director does not influence financial performance. However, the results of this study are not in line with the research conducted by Fajarwati and Witiastuti (2022), which stated that independent directors have a negative impact on financial performance.In the context of state-owned enterprises (SOEs), independent directors may have limitations in making independent decisions due to stronger political pressures or influences. Because of the dominant influence of the government, independent directors may have constraints in influencing business strategies or financial policies that ultimately affect the company's performance Fourth, independent commissioner has a positive and significant impact on financial performance, in line with hypothesis H4, thus this hypothesis is accepted.…”

Section: Discussioncontrasting

confidence: 99%

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The Impact of Corporate Governance on Financial Performance on State-Owned Enterprises

Kurniawan,

Viriany

2023

ijaeb

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This research was conducted with the aim of determining whether corporate governance, as indicated by board size, audit committee size, the proportion of independent directors, and the proportion of independent commissioners, affects financial performance, measured by return on equity. The study was conducted on state-owned enterprises (“SOE”) listed on the Indonesia Stock Exchange from 2019 to 2022. The research used an empirical data analysis method by collecting data from the annual financial reports of publicly listed companies in Indonesia, from which 15 companies were selected. The research data was processed using multiple regression analysis with Microsoft Excel 2019 and EViews 12. The results of the study show that corporate governance significantly influences the financial performance of state-owned enterprises (SOE). Variables such as audit committee size and the proportion of independent commissioners have a positive impact on financial performance, while board size and the proportion of independent directors do not affect financial performance. The research findings emphasize the importance of implementing good corporate governance practices in state-owned enterprises. This includes having a broader audit committee and increasing the proportion of independent commissioners on the board of directors. By optimizing these aspects, state-owned enterprises can enhance their financial performance.

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Section: Discussioncontrasting

confidence: 99%

“…Independent directors do not hold shares in the company (Batth et al, 2016). They serve as non-executive directors and play a role in assisting the company in enhancing credibility and corporate governance standards (Fajarwati and Witiastuti, 2022).…”

Section: Independent Directormentioning

confidence: 99%

The Impact of Corporate Governance on Financial Performance on State-Owned Enterprises

Kurniawan,

Viriany

2023

ijaeb

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“…Hal ini terjadi karena dewan direksi independen memiliki tanggung jawab yang besar dalam memastikan kelangsungan perusahaan dan kemampuan mereka untuk membuat keputusan secara adil dan netral. Namun dalam penelitian Fajarwati & Witiastuti (2022) menunjukkan bahwa dewan direksi independen dapat menurunkan kinerja perusahaan. Hal ini terjadi karena perusahaan harus mematuhi regulasi yang sesuai dengan pedoman Bursa Efek Indonesia, yang mengakibatkan tingkat keterlibatan dewan direksi independen perusahaan dalam proses pengambilan keputusan menjadi lebih rendah.…”

Section: Dewan Direksi Independenunclassified

“…Ukuran dewan direksi menunjukkan jumlah dan banyaknya anggota dewan direksi dalam perusahaan (Jao, Daromes, & Yono, 2020). Jumlah dewan direksi yang semakin banyak akan ada lebih banyak keragaman, merumuskan strategi pengembangan yang lebih baik, dan menyediakan lebih banyak sumber daya dan pengalaman untuk pengembangan perusahaan (Fajarwati & Witiastuti, 2022).…”

Section: Ukuran Dewan Direksiunclassified

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Pengaruh Tata Kelola Perusahaan Terhadap Kinerja Perusahaan dengan Struktur Kepemilikan sebagai Variabel Pemoderasi

Serly,

Susanto,

Fedelia

2023

RABIN

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Latar Belakang: Penerapan tata kelola perusahaan di Indonesia diatur dalam aturan OJK Nomor 20/POJK.04/2015. Namun masih terdapat tantangan dalam konsistensi penerapan standar ini di berbagai perusahaan. Kasus pelanggaran tata kelola perusahaan telah merugikan banyak perusahaan, mengurangi kepercayaan investor yang pada akhir akan menyebabkan kinerja perusahaan menjadi buruk. Tujuan: Penelitian ini menyelidiki peran antara penerapan tata kelola perusahaan yang menggunakan karakteristik dewan sebagai pengukuran terhadap kinerja perusahaan serta mengkaji apakah peran struktur kepemilikan mampu memoderasi hubungan antara tata kelola perusahaan terhadap kinerja perusahaan manufaktur di Indonesia.Metode Penelitian: Penelitian ini menggunakan data numerik dari laporan keuangan perusahaan manufaktur yang terdaftar di BEI pada periode 2018-2022, data diambil melalui situs resmi www.idx.co.id dan situs resmi perusahaan sampel dengan purposive sampling. Total sampel yang digunakan yaitu sebanyak 56 perusahaan dengan 285 data penelitian. Penelitian ini menggunakan metode analisis regresi panel.Hasil Penelitian: Hasil penelitian ditemukan hubungan negatif antara direksi independen, ukuran direksi terhadap kinerja perusahaan dan hasil yang tidak signifikan untuk hubungan antara keberagaman dewan direksi, remunerasi direksi, terhadap kinerja perusahaan. Kepemilikan pemegang saham blok tidak secara signifikan memoderasi interaksi antara penerapan tata kelola perusahaan terhadap tingkat kinerja perusahaan manufaktur di Indonesia sedangkan kepemilikan pemerintah dapat memperlemah interaksi antara penerapan tata kelola terhadap performa yang akan dicapai oleh perusahaan manufaktur di Indonesia.Keaslian/Kebaruan Penelitian: Penelitian ini merupakan pengulangan dari studi-studi sebelumnya yang telah dilakukan di negara-negara lain, dan sekarang diuji ulang di Indonesia dengan objek penelitian menggunakan perusahaan manufaktur go public yang ada di Indonesia.

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Do board attributes influence environmental sustainability disclosure in manufacturing firms? Evidence from sub‐Saharan Africa

Zhu,

Osei,

Agyemang

2024

Corp Soc Responsibility Env

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The study builds and extends on the literature on the environment, corporate governance, and sustainability by examining how board attributes impact environmental sustainability disclosure (ESD) and, if so, whether each of the two strands of board attributes, namely, board diversity and structural attributes, influence ESD for manufacturing firms in the sub‐Saharan Africa (SSA) region. Based on insights drawn from the human capital theory and board composition, the study developed a model that connects board attributes with ESD. Using a sample of 200 manufacturing firms from 2010 to 2022, the study found an inverse link between gender diversity and ESD, whereas a positive connection was seen between foreign nationals and ESD. Regarding structural attributes, an inverse link was found between board size and ESD, while a positive connection exists between the separation of the board chair from the chief executive officer and ESD. In summary, the findings urge policymakers in the SSA region to strengthen policies on board diversity and structural attributes to promote ESD. Moreover, the findings advise the board of directors to ensure effective and transparent disclosure of environmental‐related issues to stakeholders to guarantee sustainable reporting practices.

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Board of Directors Structure and Firm Performance: Evidence from Indonesia and Malaysia

Cited by 9 publications

References 0 publications

The Impact of Corporate Governance on Financial Performance on State-Owned Enterprises

The Impact of Corporate Governance on Financial Performance on State-Owned Enterprises

Pengaruh Tata Kelola Perusahaan Terhadap Kinerja Perusahaan dengan Struktur Kepemilikan sebagai Variabel Pemoderasi

Do board attributes influence environmental sustainability disclosure in manufacturing firms? Evidence from sub‐Saharan Africa

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