Keterlibatan Perempuan, Selisih Kompensasi, dan Kinerja Keuangan
Abstract
The purpose of the study was to see the effect of women's involvement in the board of directors on the company's financial performance. The researcher also added the variable of director compensation difference as a moderator variable on the effect of women's involvement in the board of directors on the company's financial performance. The sample used in this study was taken by purposive sampling method and obtained 211 observation samples. This study uses Partial Least Square (PLS) Regression Model analysis to answer the two hypotheses proposed. The results showed that the involvement of women in the board of directors can positively affect the company's financial performance and the difference in compensation in the board of directors can weaken the effect. The results of the research are expected to be a reference for the authorities specifically in considering the involvement of women in the board of directors and determining the compensation gap, because it can affect financial performance.
Keywords: Women Involvement; Top Management; Board Of Directors Compensation Gap; Company's Financial Performance.
Downloads
Download data is not yet available.
References
Abdullah, S. N. (2014). The causes of gender diversity in Malaysian large firms. Journal of Management & Governance, 18(4), 1137–1159.
Adams, R. B., & Ferreira, D. (2009). Women in the boardroom and their impact on governance and performance. Journal of Financial Economics, 94(2), 291–309.
Aluy, C. A., Tulung, J. E., & Tasik, H. H. D. (2017). Pengaruh Keberadaan Wanita Dalam Manajemen Puncak Dan Kepemilikan Manajerial Terhadap Kinerja Keuangan Perbankan (Studi Pada Bank Bumn dan Bank Swasta Nasional Devisa di Indonesia). Jurnal EMBA: Jurnal Riset Ekonomi, Manajemen, Bisnis Dan Akuntansi, 5(2).
Cowherd, D. M., & Levine, D. I. (1992). Product quality and pay equity between lower-level employees and top management: An investigation of distributive justice theory. Administrative Science Quarterly, 302–320.
Dieleman, M., Ibrahim, M., & Khor, J. (2016). Korn Ferry Diversity Scorecard 2016: Building Diversityin Asia Pasific Boardrooms. Korn Ferry.
Eriksson, T. (1999). Executive compensation and tournament theory: Empirical tests on Danish data. Journal of Labor Economics, 17(2), 262–280.
Governance, K. N. K. (2006). Pedoman Umum Good Corporate Governance. Komite Nasional Kebijakan Governance.
Greenberg, J. (1987). A taxonomy of organizational justice theories. Academy of Management Review, 12(1), 9–22.
Gulamhussen, M. A., & Santa, S. F. (2015). Female directors in bank boardrooms and their influence on performance and risk-taking. Global Finance Journal, 28, 10–23.
Hasibuan, M. S. . (2013). Manajemen Sumber Daya Manusia. Bumi Aksara.
Howden, J. C. (1994). Competitive and collaborative communicative style: American men and women, American men and Japanese men. Intercultural Communication Studies, 4(1), 49–58.
Institue, M. G. (2018). The Power of Parity: Advancing Women’s Equality in Indonesia. McKinsey & Company. https://www.mckinsey.com/featured-insights/asia-pacific/the-power-of-parity-advancing-womens-equality-in-indonesia
Ionascu, M., Ionascu, I., Sacarin, M., & Minu, M. (2018). Women on boards and financial performance: Evidence from a European emerging market. Sustainability, 10(5), 1644.
Koenig, A. M., Eagly, A. H., Mitchell, A. A., & Ristikari, T. (2011). Are leader stereotypes masculine? A meta-analysis of three research paradigms. Psychological Bulletin, 137(4), 616.
Kusumastuti, S., Supatmi, S., & Sastra, P. (2008). Pengaruh board diversity terhadap nilai perusahaan dalam perspektif corporate governance. Jurnal Akuntansi Dan Keuangan, 9(2), pp-88.
Lakhal, F., Aguir, A., Lakhal, N., & Malek, A. (2015). Do women on boards and in top management reduce earnings management? Evidence in France. Journal of Applied Business Research (JABR), 31(3), 1107–1118.
Lückerath-Rovers, M. (2013). Women on boards and firm performance. Journal of Management & Governance, 17(2), 491–509.
Manusia, M. H. D. H. A. (2007). Undang-Undang Perseroan Terbatas No. 40 Tahun 2007 Tentang Perseroan Terbatas.
Nyamweya, S. A. (2015). Relationship between the board of directors’ characteristics and the capital structures of companies listed in Nairobi Securities Exchange. Journal of Business and Management, 17(2), 104–109.
Pusat Studi Pemerintahan, Institusi, dan O. N. U. of S. (NUS) B. S. (2012). Jabatan Elite untuk Perempuan Masih Terbatas. Tempo.Co. tempo.co
Reguera-Alvarado, N., de Fuentes, P., & Laffarga, J. (2017). Does board gender diversity influence financial performance? Evidence from Spain. Journal of Business Ethics, 141(2), 337–350.
Robbins, Stephen P. dan Judge, T. A. (2012). Perilaku Organisasi Buku 1 (12th ed.). Salemba Empat.
Setiadi, P. B., & Ursula S, R. (2016). the effect of compensation and work motivation on employee performance at semen indonesia limited company. The Effect of Compensation and Work Motivation on Employee Performance at Semen Indonesia Limited Company, 4(3), 64–85.
Sial, M. S., Zheng, C., Cherian, J., Gulzar, M. A., Thu, P. A., Khan, T., & Khuong, N. V. (2018). Does corporate social responsibility mediate the relation between boardroom gender diversity and firm performance of Chinese listed companies? Sustainability, 10(10), 3591.
Terjesen, S., Couto, E. B., & Francisco, P. M. (2016). Does the presence of independent and female directors impact firm performance? A multi-country study of board diversity. Journal of Management & Governance, 20(3), 447–483.
Theeravanich, A. (2013). Director compensation in emerging markets: A case study of Thailand. Journal of Economics and Business, 70, 71–91.
Thornton, G. (2014). Women in business: From classroom to boardroom. Grant Thornton International Business Report, 356.
Vieito, J. P. T. (2012). Gender, top management compensation gap, and company performance: Tournament versus behavioral theory. Corporate Governance: An International Review, 20(1), 46–63.
Wiley, C., & Monllor-Tormos, M. (2018). Board gender diversity in the STEM&F sectors: the critical mass required to drive firm performance. Journal of Leadership & Organizational Studies, 25(3), 290–308.
Adams, R. B., & Ferreira, D. (2009). Women in the boardroom and their impact on governance and performance. Journal of Financial Economics, 94(2), 291–309.
Aluy, C. A., Tulung, J. E., & Tasik, H. H. D. (2017). Pengaruh Keberadaan Wanita Dalam Manajemen Puncak Dan Kepemilikan Manajerial Terhadap Kinerja Keuangan Perbankan (Studi Pada Bank Bumn dan Bank Swasta Nasional Devisa di Indonesia). Jurnal EMBA: Jurnal Riset Ekonomi, Manajemen, Bisnis Dan Akuntansi, 5(2).
Cowherd, D. M., & Levine, D. I. (1992). Product quality and pay equity between lower-level employees and top management: An investigation of distributive justice theory. Administrative Science Quarterly, 302–320.
Dieleman, M., Ibrahim, M., & Khor, J. (2016). Korn Ferry Diversity Scorecard 2016: Building Diversityin Asia Pasific Boardrooms. Korn Ferry.
Eriksson, T. (1999). Executive compensation and tournament theory: Empirical tests on Danish data. Journal of Labor Economics, 17(2), 262–280.
Governance, K. N. K. (2006). Pedoman Umum Good Corporate Governance. Komite Nasional Kebijakan Governance.
Greenberg, J. (1987). A taxonomy of organizational justice theories. Academy of Management Review, 12(1), 9–22.
Gulamhussen, M. A., & Santa, S. F. (2015). Female directors in bank boardrooms and their influence on performance and risk-taking. Global Finance Journal, 28, 10–23.
Hasibuan, M. S. . (2013). Manajemen Sumber Daya Manusia. Bumi Aksara.
Howden, J. C. (1994). Competitive and collaborative communicative style: American men and women, American men and Japanese men. Intercultural Communication Studies, 4(1), 49–58.
Institue, M. G. (2018). The Power of Parity: Advancing Women’s Equality in Indonesia. McKinsey & Company. https://www.mckinsey.com/featured-insights/asia-pacific/the-power-of-parity-advancing-womens-equality-in-indonesia
Ionascu, M., Ionascu, I., Sacarin, M., & Minu, M. (2018). Women on boards and financial performance: Evidence from a European emerging market. Sustainability, 10(5), 1644.
Koenig, A. M., Eagly, A. H., Mitchell, A. A., & Ristikari, T. (2011). Are leader stereotypes masculine? A meta-analysis of three research paradigms. Psychological Bulletin, 137(4), 616.
Kusumastuti, S., Supatmi, S., & Sastra, P. (2008). Pengaruh board diversity terhadap nilai perusahaan dalam perspektif corporate governance. Jurnal Akuntansi Dan Keuangan, 9(2), pp-88.
Lakhal, F., Aguir, A., Lakhal, N., & Malek, A. (2015). Do women on boards and in top management reduce earnings management? Evidence in France. Journal of Applied Business Research (JABR), 31(3), 1107–1118.
Lückerath-Rovers, M. (2013). Women on boards and firm performance. Journal of Management & Governance, 17(2), 491–509.
Manusia, M. H. D. H. A. (2007). Undang-Undang Perseroan Terbatas No. 40 Tahun 2007 Tentang Perseroan Terbatas.
Nyamweya, S. A. (2015). Relationship between the board of directors’ characteristics and the capital structures of companies listed in Nairobi Securities Exchange. Journal of Business and Management, 17(2), 104–109.
Pusat Studi Pemerintahan, Institusi, dan O. N. U. of S. (NUS) B. S. (2012). Jabatan Elite untuk Perempuan Masih Terbatas. Tempo.Co. tempo.co
Reguera-Alvarado, N., de Fuentes, P., & Laffarga, J. (2017). Does board gender diversity influence financial performance? Evidence from Spain. Journal of Business Ethics, 141(2), 337–350.
Robbins, Stephen P. dan Judge, T. A. (2012). Perilaku Organisasi Buku 1 (12th ed.). Salemba Empat.
Setiadi, P. B., & Ursula S, R. (2016). the effect of compensation and work motivation on employee performance at semen indonesia limited company. The Effect of Compensation and Work Motivation on Employee Performance at Semen Indonesia Limited Company, 4(3), 64–85.
Sial, M. S., Zheng, C., Cherian, J., Gulzar, M. A., Thu, P. A., Khan, T., & Khuong, N. V. (2018). Does corporate social responsibility mediate the relation between boardroom gender diversity and firm performance of Chinese listed companies? Sustainability, 10(10), 3591.
Terjesen, S., Couto, E. B., & Francisco, P. M. (2016). Does the presence of independent and female directors impact firm performance? A multi-country study of board diversity. Journal of Management & Governance, 20(3), 447–483.
Theeravanich, A. (2013). Director compensation in emerging markets: A case study of Thailand. Journal of Economics and Business, 70, 71–91.
Thornton, G. (2014). Women in business: From classroom to boardroom. Grant Thornton International Business Report, 356.
Vieito, J. P. T. (2012). Gender, top management compensation gap, and company performance: Tournament versus behavioral theory. Corporate Governance: An International Review, 20(1), 46–63.
Wiley, C., & Monllor-Tormos, M. (2018). Board gender diversity in the STEM&F sectors: the critical mass required to drive firm performance. Journal of Leadership & Organizational Studies, 25(3), 290–308.
Published
2022-03-26
How to Cite
ADJI, Elizabeth Karina; WIRAMA, Dewa Gede.
Keterlibatan Perempuan, Selisih Kompensasi, dan Kinerja Keuangan.
E-Jurnal Akuntansi, [S.l.], v. 32, n. 3, p. 660-671, mar. 2022.
ISSN 2302-8556.
Available at: <https://ojs.unud.ac.id/index.php/akuntansi/article/view/81073>. Date accessed: 14 nov. 2024.
doi: https://doi.org/10.24843/EJA.2022.v32.i03.p08.
Issue
Section
Artikel
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
