Corporate governance mechanisms and firm performance of Indonesian family : controlled and non-family controlled companies

This study investigates the relationship between corporate governance mechanisms and performance of Indonesian listed companies. Using panel data approach, the sample consists of 262 companies listed on the Indonesian Stock Exchange for the period between 2010 to 2014. The results show that Indonesi...

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Main Author:	,, Robin
Format:	Thesis
Language:	eng eng
Published:	2019
Subjects:	HG Finance
Online Access:	https://etd.uum.edu.my/7757/1/Depositpermission_s95535.pdf https://etd.uum.edu.my/7757/2/s95535_01.pdf
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id	my-uum-etd.7757
record_format	uketd_dc
institution	Universiti Utara Malaysia
collection	UUM ETD
language	eng eng
advisor	Amran, Noor Afza
topic	HG Finance
spellingShingle	HG Finance ,, Robin Corporate governance mechanisms and firm performance of Indonesian family : controlled and non-family controlled companies
description	This study investigates the relationship between corporate governance mechanisms and performance of Indonesian listed companies. Using panel data approach, the sample consists of 262 companies listed on the Indonesian Stock Exchange for the period between 2010 to 2014. The results show that Indonesian family-controlled companies have better performance than non-family-controlled companies. However, not all attributes of corporate governance mechanisms are significant between family-controlled companies and non-family controlled companies. It is found that larger boards increase the performance of non-family-controlled companies due to their ability to generate more ideas and provide more advice, experience and knowledge, which cannot be found in family directors. Family-controlled companies tend to have small boards; thus, they can make decisions quickly and more easily. Qualifications of directors in larger boards, frequency of board meetings, board expertise and the presence of female directors lead to enhanced performance, both for family-controlled companies and non-family-controlled companies. Boards with higher education and expertise, presence of female directors and more frequent board meetings can provide creative solutions, solve complex problems and improve performance. Directors who hold large managerial ownership tend to concentrate more on personal interests, whilst small board commissioners control the opportunistic behaviour of management and bridge the interests of managers and owners. The findings also suggest that smaller audit committee and higher frequency of audit committee meetings increase the performance of both family- and non-family-controlled companies. On the other hand, the findings show that smaller size of independent audit committee enhance performance for family-controlled companies while larger size for non-family-controlled companies. Thus, regulators need to note the different corporate governance practices between family- and non-family-controlled companies. It is recommended that a pool of independent commissioners with knowledge and experience in enhancing better corporate governance mechanisms be appointed for companies in Indonesia.
format	Thesis
qualification_name	Ph.D.
qualification_level	Doctorate
author	,, Robin
author_facet	,, Robin
author_sort	,, Robin
title	Corporate governance mechanisms and firm performance of Indonesian family : controlled and non-family controlled companies
title_short	Corporate governance mechanisms and firm performance of Indonesian family : controlled and non-family controlled companies
title_full	Corporate governance mechanisms and firm performance of Indonesian family : controlled and non-family controlled companies
title_fullStr	Corporate governance mechanisms and firm performance of Indonesian family : controlled and non-family controlled companies
title_full_unstemmed	Corporate governance mechanisms and firm performance of Indonesian family : controlled and non-family controlled companies
title_sort	corporate governance mechanisms and firm performance of indonesian family : controlled and non-family controlled companies
granting_institution	Universiti Utara Malaysia
granting_department	Tunku Puteri Intan Safinaz School of Accountancy (TISSA)
publishDate	2019
url	https://etd.uum.edu.my/7757/1/Depositpermission_s95535.pdf https://etd.uum.edu.my/7757/2/s95535_01.pdf
_version_	1747828261562351616
spelling	my-uum-etd.77572020-06-25T01:13:20Z Corporate governance mechanisms and firm performance of Indonesian family : controlled and non-family controlled companies 2019 ,, Robin Amran, Noor Afza Tunku Puteri Intan Safinaz School of Accountancy (TISSA) Tunku Intan Safinaz School of Accountancy (TISSA) HG Finance This study investigates the relationship between corporate governance mechanisms and performance of Indonesian listed companies. Using panel data approach, the sample consists of 262 companies listed on the Indonesian Stock Exchange for the period between 2010 to 2014. The results show that Indonesian family-controlled companies have better performance than non-family-controlled companies. However, not all attributes of corporate governance mechanisms are significant between family-controlled companies and non-family controlled companies. It is found that larger boards increase the performance of non-family-controlled companies due to their ability to generate more ideas and provide more advice, experience and knowledge, which cannot be found in family directors. Family-controlled companies tend to have small boards; thus, they can make decisions quickly and more easily. Qualifications of directors in larger boards, frequency of board meetings, board expertise and the presence of female directors lead to enhanced performance, both for family-controlled companies and non-family-controlled companies. Boards with higher education and expertise, presence of female directors and more frequent board meetings can provide creative solutions, solve complex problems and improve performance. Directors who hold large managerial ownership tend to concentrate more on personal interests, whilst small board commissioners control the opportunistic behaviour of management and bridge the interests of managers and owners. The findings also suggest that smaller audit committee and higher frequency of audit committee meetings increase the performance of both family- and non-family-controlled companies. On the other hand, the findings show that smaller size of independent audit committee enhance performance for family-controlled companies while larger size for non-family-controlled companies. Thus, regulators need to note the different corporate governance practices between family- and non-family-controlled companies. It is recommended that a pool of independent commissioners with knowledge and experience in enhancing better corporate governance mechanisms be appointed for companies in Indonesia. 2019 Thesis https://etd.uum.edu.my/7757/ https://etd.uum.edu.my/7757/1/Depositpermission_s95535.pdf text eng staffonly https://etd.uum.edu.my/7757/2/s95535_01.pdf text eng public https://sierra.uum.edu.my/record=b1699019~S1 Ph.D. doctoral Universiti Utara Malaysia Abbott, L. J., Parker, S., & Peters, G.F. (2004). 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