Dampak Diversitas Kebangsaan Anggota Dewan Komisaris dan Direksi pada Kinerja Pasar Perusahaan

Ketut Arya Bayu Wicaksana

Abstract

Dalam literatur tata kelola perusahaan, diversitas dewan sering disebut dapat meningkatkan keefektifan dewan dan monitoring, serta akan meningkatkan kinerja perusahaan. Tujuan penelitian ini untuk menyelidiki pengaruh diversitas dewan yang diukur dengan variasi kebangsaan anggota dewan pada kinerja pasar perusahaan (rasio price to book value), dengan menggunakan variabel ukuran perusahaan dan jenis industri sebagai variabel kontrol. Populasi penelitian ini adalah perusahaan yang terdaftar di Bursa Efek Indonesia tahun 2006-2008. Melalui purposive sampling didapat sebanyak 159 sampel. Hasil pengujian hipotesis dengan regresi berganda menunjukkan bahwa variasi kebangsaan anggota dewan tidak berpengaruh terhadap kinerja perusahaan. Variabel kontrol berpengaruh signifikan pada kinerja pasar perusahaan.

 


In corporate governance literatures, board of director diversity is often referred to increase board effectiveness and monitoring, thus increase market performance of the company. The purpose of this research is to investigate the effect of board diversity which is measured by variation of board member nationality on firm’s market performance (price to book value ratio). This research also measured company size and industry type as control variables. Sample of the research is 159 listed companies in Indonesia Stock Exchange between 2006 and 2008. In addition, sampling method is purposive sampling. The results by using multiple regression analysis show that board nationality variation does not have any significant impact on firm’s market performance, meanwhile size of the company and industry type variable, have significant effects on firm’s market performance.

Keywords

Corporate Governance; Board; Board Diversity; Price to Book Value Ratio

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