Management Studies and Entrepreneurship Journal (MSEJ)
Vol. 7 No. 1 (2026): Management Studies and Entrepreneurship Journal (MSEJ)

Strategic Responsiveness: Peran Komisaris Independen Dan Struktur Kepemilikan

Eny Kusumawati (Universitas Muhammadiyah Surakarta)
Erma Setiawati (Universitas Muhammadiyah Surakarta)
Nursiam Nursiam (Universitas Muhammadiyah Surakarta)
Nisrina Hanun Iftadi (Universitas Muhammadiyah Surakarta)
Himawan Prasetyo (Universitas Muhammadiyah Surakarta)



Article Info

Publish Date
24 Aug 2026

Abstract

An increasingly dynamic business environment driven by technological advancements, An increasingly dynamic business environment—driven by technological advancements, shifting customer needs, and sustainability demands—compels companies to develop the ability to respond quickly to change through strategic responsiveness. This study aims to examine the influence of corporate governance on strategic responsiveness, focusing on the role of independent directors, foreign shareholding, and institutional ownership. The study employs a quantitative approach using secondary data obtained from the annual reports of companies in six major industries representative of Indonesia’s economic dynamics—namely, energy, raw materials, manufacturing, infrastructure, technology, and primary consumer goods—listed on the Indonesia Stock Exchange for the 2022–2024 period. The research sample consists of 660 observations analyzed using panel data regression. The results indicate that independent directors have a positive effect on strategic responsiveness, foreign shareholding has no effect on strategic responsiveness, and institutional ownership has a negative effect on strategic responsiveness. These findings suggest that the effectiveness of corporate governance mechanisms in enhancing strategic responsiveness depends on the characteristics and roles of each corporate governance mechanism.

Copyrights © 2026






Journal Info

Abbrev

msej

Publisher

Subject

Decision Sciences, Operations Research & Management

Description

Management Studies and Entrepreneurship Journal (MSEJ) is published by Yayasan Pendidikan Riset dan Pengembangan Intelektual (YRPI) as an information and communication media for practitioners, researchers and academics who are interested in the field of management (Finance, Human Resource, ...