Kembali | Vol 6, No 1 (2017)
Article
Dwijayanti Gita Saputri dan Harmadi
Abstract
Family company has poor corporate performance problems. Based on the results of the assessment indicate a family company in Indonesia received negative assessments of the company's performance related to the issue of transparency and responsibility of the board of commissioners. This was caused by the determination of the directors and commissioners in companies that often changes as well as the influence of gender in changing the company's CEO. This study aims to examine the effects of changes Chief Executive Officers (CEO) of the company's performance family. The sample in this study consisted of 94 family firms listed in Indonesia Stock Exchange and is consistently reported financial data, 2010-2015. Statistical methods in this study using a program eviews by the least squares method with the dependent variable of company performance measured by ROA (Return on Assets). The independent variables in this study is the CEO change and gender change. While the control variables are firm size, firm age, and leverage. The results showed that simultaneous independent variables proxied by the change of CEO and gender as well as control variables proxied by firm size, firm age and leverage significant effect on the company's performance. This is indicated by the F-test probability value 0.00000 smaller than 0.01 as a significant value. Variable CEO changes negatively affect the company's performance. This is shown by the results of the t test with significance 1.914099 0.0561 <0.10. While the variable gender change and significant positive effect on company performance. This is shown by the results of the t test with significance 3.093236 0.0021 <0.01, respectively.
Keywords
ROA, CEO, gender, firm size, firm age, leverage
