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PENGARUH KEPEMILIKAN MANAJERIAL, KEPEMILIKAN INSTITUSIONAL, DAN DEWAN KOMISARIS INDEPENDEN TERHADAP HARGA SAHAM PADA PERUSAHAAN MANUFAKTUR SUB-SEKTOR MAKANAN DAN MINUMAN DI BURSA EFEK INDONESIA (2019–2022) Silalahi, Donalson; Sitanggang, Evi Junita; Silalahi, Esli
Jurnal Manajemen dan Bisnis Volume 25 No. 2 Tahun 2025
Publisher : UNIKA Santo Thomas

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Abstract

This study aims to determine and analyze the effect of managerial ownership, institutional ownership, and independent boards of commissioners on stock prices in food and beverage manufacturing companies listed on the Indonesia Stock Exchange for the 2019-2022 period. The population in this study was 26 food and beverage manufacturing companies. The sampling technique used was purposive sampling, resulting in 10 food and beverage manufacturing companies. Data analysis techniques used were multiple linear regression and descriptive statistical analysis. Hypothesis testing used t-tests and F-tests at a 5 percent significance level. The results showed that partially, managerial ownership had a negative and significant effect on stock prices, institutional ownership had a negative and significant effect on stock prices, and independent boards of commissioners had a positive and insignificant effect on company stock prices. Simultaneously, managerial ownership, institutional ownership, and independent boards of commissioners explained 43.7 percent of stock price variation.
PENGARUH KEPEMILIKAN MANAJERIAL, KEPEMILIKAN INSTITUSIONAL, DAN DEWAN KOMISARIS INDEPENDEN TERHADAP HARGA SAHAM PADA PERUSAHAAN MANUFAKTUR SUB-SEKTOR MAKANAN DAN MINUMAN DI BURSA EFEK INDONESIA (2019–2022) Silalahi, Donalson; Sitanggang, Evi Junita; Silalahi, Esli
Jurnal Manajemen dan Bisnis Volume 25 No. 2 Tahun 2025
Publisher : UNIKA Santo Thomas

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

This study aims to determine and analyze the effect of managerial ownership, institutional ownership, and independent boards of commissioners on stock prices in food and beverage manufacturing companies listed on the Indonesia Stock Exchange for the 2019-2022 period. The population in this study was 26 food and beverage manufacturing companies. The sampling technique used was purposive sampling, resulting in 10 food and beverage manufacturing companies. Data analysis techniques used were multiple linear regression and descriptive statistical analysis. Hypothesis testing used t-tests and F-tests at a 5 percent significance level. The results showed that partially, managerial ownership had a negative and significant effect on stock prices, institutional ownership had a negative and significant effect on stock prices, and independent boards of commissioners had a positive and insignificant effect on company stock prices. Simultaneously, managerial ownership, institutional ownership, and independent boards of commissioners explained 43.7 percent of stock price variation.
Decoding Financial Sustainability in Microfinance: The Interplay of Financial Literacy and Leadership Trust Esli Silalahi; Kornel Munthe; Miska Irani Tarigan; Riko Fridolend Sianturi
Journal of Economics, Entrepreneurship, Management Business and Accounting Vol 4 No 5 (2026): Volume 4, Issue 5, September 2026
Publisher : CV. Sakura Digital Nusantara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61255/jeemba.v4i5.1553

Abstract

Purpose – This study empirically decodes the micro-level structural drivers determining the long-term financial sustainability of grassroots microfinance institutions, specifically savings and loan cooperatives in the North Sumatra region of Indonesia by uncoupling the dimensions of financial literacy. Design/methodology/approach – Utilizing a quantitative cross-sectional survey, data was collected from 276 active cooperative members. The hypothesized causal-predictive relationships were analyzed using Variance-Based Partial Least Squares Structural Equation Modeling (PLS-SEM). Finding/Results – Applied financial skills directly and significantly drive institutional sustainability. Financial knowledge indirectly enhances sustainability through the mediation of calculus-based institutional trust. Conversely, traditional financial culture fails to exert any significant direct or indirect effect on sustainability. Originality/Value – This research challenges the conventional reliance on informal social capital in microfinance. By evaluating individual financial literacy (knowledge and skills) alongside the environmental context of localized financial culture. The findings suggest that technical human capital (applied skills) and cognitively validated trust—rather than communal culture alone—serve as critical foundational components for grassroots financial resilience within the tested model.