Article Per Year (5 Year)
p-Index From 2021 - 2026
0.23
P-Index
This Author published in this journals
All Journal Riset: Jurnal Aplikasi Ekonomi Akuntansi dan Bisnis
Dya Elsa Permata Sari
Islamic University of Lamongan
Economics, Econometrics & Finance Social Sciences

Published : 1 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 1 Documents
Search

 1 
INDEPENDENT COMMISSIONERS AND OWNERSHIP STRUCTURES ON FIRM PERFORMANCE Abidah Dwi Rahmi Satiti; Dya Elsa Permata Sari; Rizky Windar Amelia
RISET: Jurnal Aplikasi Ekonomi Akuntansi dan Bisnis Vol. 8 No. 2 (2026): RISET : Jurnal Aplikasi Ekonomi Akuntansi dan Bisnis
Publisher : Kesatuan Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37641/riset.v8i2.2738

Abstract

This study investigates the relationship between board independence, ownership structure, and firm performance in publicly listed food and beverage companies in Indonesia. The sector was chosen for its economic importance, operational vulnerabilities, and the prevalence of concentrated ownership, all of which may influence corporate governance effectiveness. The analysis utilizes secondary data from 20 companies listed on the Indonesia Stock Exchange between 2018 and 2024, yielding 140 firm-year observations. Multiple regression analysis is conducted, using Tobin’s Q as a proxy for firm performance and incorporating year controls to account for temporal effects. The empirical results reveal a negative and significant association between independent commissioners and firm performance, while managerial ownership and foreign ownership do not demonstrate significant relationships. These findings indicate that governance arrangements may not necessarily improve market valuation in firms with concentrated ownership and sector-specific operational challenges. This study provides sector-specific evidence from the Indonesian food and beverage industry and underscores the importance of enhancing the substantive effectiveness of governance mechanisms.
Co-Authors Abidah Dwi Rahmi Satiti Rizky Windar Amelia