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All Journal Studi Akuntansi dan Keuangan Indonesia (SAKI)
Ariefania, Maretta
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Economics, Econometrics & Finance

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The Effects of Family Ownership and Good Corporate Governance on Related Party Transactions Tanaya, Tanaya; Ariefania, Maretta
Studi Akuntansi dan Keuangan Indonesia Vol 8 No 2 (2025): Studi Akuntansi dan Keuangan Indonesia (SAKI) - In Progress
Publisher : Universitas Prasetiya Mulya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21632/saki.8.2.on process

Abstract

This study investigates the impact of family ownership, independent commissioners, and ultimate beneficiary ownership (UBO) disclosure on non-business-related party transactions (RPTs) in Indonesian publicly listed firms. Using a sample of 351 firms from the Indonesian Stock Exchange between 2017 and 2022, we find that family-owned firms engage more extensively in non-business RPTs, suggesting potential expropriation risks. The presence of independent commissioners is found to be not significant in mitigating the non-business RPTs whilst UBO disclosure evidently mitigates such transactions, highlighting the governance role of transparency. Additionally, we explore whether economic crises—proxied by the COVID-19 pandemic—increase non-business RPTs. Our analysis reveals a decrease in significance related to the pandemic on the use of non-business RPTs by family-owned businesses through subsample tests. These findings contribute to the literature on corporate governance and RPTs, particularly in emerging markets with concentrated ownership structures.
Co-Authors Tanaya, Tanaya