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All Journal Jurnal Keuangan dan Perbankan Journal of Economics, Business, & Accountancy Ventura Gadjah Mada International Journal of Business Journal of Indonesian Economy and Business AKRUAL: Jurnal Akuntansi International Research Journal of Business Studies (E-Journal) Jurnal Organisasi Dan Manajemen Jurnal Akuntansi dan Bisnis The Indonesian Journal of Accounting Research AJAR (Asian Journal of Accounting Research) (e-Journal) International Research Journal of Business Studies
Sidharta Utama
Faculty Of Economics And Business, Universitas Indonesia, Indonesia
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences

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Board of Commissioners in Corporate Governance, Firm Performance, and Ownership Structure Utama, Cynthia A.; Utama, Sidharta
International Research Journal of Business Studies Vol. 12 No. 2 (2019): August-November 2019
Publisher : Universitas Prasetiya Mulya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21632/irjbs.12.2.111-136

Abstract

The purpose of this study is to investigate: firstly, the two-way causality between firms performance and the size of BOC; secondly, the non-linear effect of board size on the firms’ performance; thirdly, the direct and moderating effects of the ownership structure on the influence of firm performance on board size. Using the ROA as a measure of firm performance, we find that there is a simultaneous relationship between firm performance and the size of BOC: the size of the board has an inverted U-shaped effect on firm performance while firms performance has a negative influence on board size. We find that the size of the board of commissioners increases firm performance up to a certain level, but a very large board reduces firm performance. We find marginal evidence that ownership structure has a moderating effect on the impact of firm performance on board size. We document that the negative effect of performance on board size dissipates as ownership right increases. The negative effect of performance on board size marginally strengthens. Thus, our study contributes to the literature by finding that the negative influence of firm performance and board primarily occurs on firms that are subject to high incentive expropriation by controlling shareholders.
Ownership concentration and bank risk (A study on banking sectors in Indonesia) Karyani, Etikah; Utama, Sidharta
Journal of Economics, Business, and Accountancy Ventura Vol. 18 No. 2 (2015): August - November 2015
Publisher : Universitas Hayam Wuruk Perbanas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14414/jebav.v18i2.447

Abstract

The purpose of this study is to test empirically the relationship between ownership concentration and risk taking by banks which are proxied by the CAR and LDR (li-quidity ratio). The study was motivated by the limited previous studies that analyze the structure of ownership in financial institutions and the weaknesses in sampling. Our analysis focused on Indonesia because this country has implemented the Basel Accord II standards successfully. This regulatory compliance is expected can control banking risk. Using data from 2009 until 2013 and panel data. We found that the ownership concentration become important determinants of bank liquidity. These findings are expected to provide policy guidance for regulators, especially relating to the ownership structure of the bank. However, the ownership concentration proved to be involved in the management decision to risk taking in banks.
Board Characteristics and Firm Performance: Evidence from Indonesia Hidayat, Athalia Ariati; Utama, Sidharta
International Research Journal of Business Studies Vol. 8 No. 3 (2015): December 2015 - March 2016
Publisher : Universitas Prasetiya Mulya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21632/irjbs.8.3.137-154

Abstract

This research examines the effect of board characteristics (comprising in different sized proportions: family commissioners, family directors, independent commissioners, ex-government officer commissioners, and board of commissioners size) to firm performance. Using fixedeffects data panel regression, this research investigates 293 firms listed on the Indonesian Stock Exchange during 2008-2012. Firm performance is proxied by market measure (Tobin’s Q) and accounting measure (ROA). The findings of this research suggest that the proportion of family commissioners and family directors have positive impact only to Tobin’s Q value, while the proportion of independent directors can increase both Tobin’s Q and ROA. On the other hand, this research finds that the proportion of ex-government officers in the board gives no impact to firm performance. This research also finds that the board size has U-shaped non-linear relationship with firm performance as proxied by Tobin’s Q and ROA.
The Influence of Corporate Governance Mechanism on the Relationship between Related Party Transactions and Earnings Management Mita, Aria Farah; Utama, Sidharta
International Research Journal of Business Studies Vol. 7 No. 1 (2014): April - July 2014
Publisher : Universitas Prasetiya Mulya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21632/irjbs.7.1.1-12

Abstract

The objective of this study is to investigate the relationship between related party transactions (RPT) and earnings management. This study argues there is a different influence between RPT a priori likely to result in expropriation and RPT a priori not likely to result in expropriation. RPT a priori likely to result in expropriation creates an incentive to management or controlling shareholder to overstate income to cover or mask their expropriation. This study uses non-absolute discretionary accruals based on Kazsnik model to proxy earnings management. Corporate governance mechanism should reduce the incentive to overstate income in a company that involves in RPT a priori likely to result in expropriation. The results of this study show that the earnings management (income increasing) is affected by the existence of RPT a priori likely to result in expropriation and corporate governance mechanism, but it is not affected by the size/value of the transactions. As expected, companies involving in RPT a priori likely to result in expropriation with weak corporate governance mechanism, tend to manage earnings that increase income. We find that strong corporate governance mechanism decreases the discretionary accruals in companies which have RPT a priori likely to result in expropriation.
Co-Authors Ariyoto Karnen, Kresnohadi Athalia Ariati Hidayat Cynthia A. Utama Cynthia Afriani Utama, Cynthia Afriani Dewi Kartika Sari Dianwicaksih Arieftiara Dwi Martani Etty Murwaningsari F. Leonardo Z F. Leonardo Z Fitriany Fitriany, Fitriany Hilda Rosietta, Hilda Hilda Rossieta I Gusti Ketut Agung Ulupui I Made Pradana Adiputra Karnen, Kresnohadi Ariyoto Karyani, Etikah Rachmawati, Nurul Aisyah SATRIYAS ILYAS Septian Bayu Kristanto Siti Khomsatun Sylvia Veronica Siregar Zahroh Naimah, Zahroh