Herlambang, Arif and Murhadi, Werner Ria and Andriani, Tania (2020) Factors Affecting the Financial Performance of Companies Based on Agency Theory. In: The 17 th International Symposium on Management (INSYMA 2020), February 19-21, 2020, Ba Ria Vung Tau University, Vietnam.
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Abstract
This study examines the factors that influence a company’s financial performance based on agency theory. There were 5 independent variables used in this study, namely institutional ownership, insider ownership, board size, company size, and debt ratio, as well as the dependent variable, namely the company’s financial performance measured using Tobin’s Q ratio. This study used a quantitative approach using multiple linear regression analysis methods with a sample of 357 non-financial companies listed on the Indonesia Stock Exchange over the 2013-2017 period. Data processing used Eviews, where the results showed that institutional ownership, insider ownership, board size, company size, and debt ratio simultaneously had a significant positive effect on Tobin’s Q. However, if the variables were tested separately, it was found that institutional ownership, insider ownership, and debt ratio had a significant positive effect on Tobin’s Q, while firm size had a significant negative effect on Tobin’s Q and board size had no significant effect on Tobin’s Q.
| Item Type: | Conference or Workshop Item (Paper) |
|---|---|
| Uncontrolled Keywords: | Agency theory, corporate governance, financial performance, institutional ownership, insider ownership |
| Subjects: | H Social Sciences > HG Finance |
| Divisions: | Faculty of Business and Economic > Department of Management |
| Depositing User: | Arif Herlambang 61148 |
| Date Deposited: | 08 Dec 2020 07:39 |
| Last Modified: | 24 Mar 2021 16:30 |
| URI: | http://repository.ubaya.ac.id/id/eprint/38623 |
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