Pendiri di Dewan Direksi dan Kinerja Perusahaan yang Dimoderasi Koneksi Politik dan Kepemilikan Keluarga
Abstract
This study aims to examine the role of founders on the board of directors on the performance of companies with family ownership and political connections as moderating variables. The determination of the research sample used purposive sampling from companies listed on the Indonesia Stock Exchange (IDX). The number of samples used was 265 companies with a research time span of 2017-2021. Testing using panel regression using Eviews software. The results of the study show that the presence of the founder on the board of directors significantly influences the success of the company. The moderating variable of family ownership strengthens the relationship between founders on the board of directors and company performance, while political connections cannot moderate the relationship between founders on the board of directors and company performance.
Keywords: Founders on Board of Director; Family Ownership; Political Connection; Firm Performance
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References
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Bhawe, N., Gupta, V. K., & Pollack, J. M. (2017). Founder exits and firm performance: An exploratory study. Journal of Business Venturing Insights, 8(May), 114–122. https://doi.org/10.1016/j.jbvi.2017.09.001
Chu, W. (2011). Family ownership and firm performance: Influence of family management, family control, and firm size. Asia Pacific Journal of Management, 28(4), 833–851. https://doi.org/10.1007/s10490-009-9180-1
Claessens, S., Djankov, S., & Lang, L. H. P. (2000). The separation of ownership and control in East Asian Corporations. In Journal of Financial Economics (Vol. 58, Issues 1–2). https://doi.org/10.1016/s0304-405x(00)00067-2
Darmadi, S., & Sodikin, A. (2013). Information disclosure by family-controlled firms: The role of board independence and institutional ownership. Asian Review of Accounting, 21(3), 223–240. https://doi.org/10.1108/ARA-01-2013-0009
Darmayanti, Y., Rifa, D., & Khairia, I. (2021). Pengaruh Corporate Governance Terhadap Hubungan Keterlibatan Dewan Di Bidang Politik Dan Manajemen Laba. Jurnal Akademi Akuntansi, 4(2), 138–151. https://doi.org/10.22219/jaa.v4i2.16659
Eva Fauziah Ahmad. (2020). Pengaruh Return On Asset, Leverage, Ukuran Perusahaan, Kompensasi Rugi Fiskal Dan Koneksi Politik Terhadap Tax Avoidance (StudipadaSektor Industri Barang Konsumsi yang terdaftar di Bursa Efek Indonesia PeriodeTahun 2013-2017). J-Aksi : Jurnal Akuntansi Dan Sistem Informasi, 1(1), 12–27. https://doi.org/10.31949/j-aksi.v1i1.172
Fakhry, A. F. (2021). Influence of Family Ownership on Firm Performance: A Study of SMEs in Kabul. Kardan Journal of Economics and Manangement Sciences, 4(2), 61. https://doi.org/10.31841/kjems.2021.4
Giovani, M. (2019). Pengaruh Struktur Kepemilikan, Tata Kelola Perusahaan, Dan Karakteristik Perusahaan Terhadap Manajemen Laba. Jurnal Akuntansi Bisnis, 15(2), 290. https://doi.org/10.24167/jab.v16i1.1367
Harymawan, I., Nasih, M., Madyan, M., & Sucahyati, D. (2019). The role of political connections on family firms’ performance: evidence from Indonesia. International Journal of Financial Studies, 7(4). https://doi.org/10.3390/ijfs7040055
Harymawan, I., & Nowland, J. (2016). Political connections and earnings quality: How do connected firms respond to changes in political stability and government effectiveness? International Journal of Accounting and Information Management, 24(4), 339–356. https://doi.org/10.1108/IJAIM-05-2016-0056
Hashmi, M. A., Brahmana, R. K., & Lau, E. (2018). Political connections, family firms and earnings quality. Management Research Review, 41(4), 414–432. https://doi.org/10.1108/MRR-05-2017-0136
Hasnan, S., Kamaruzaman, I. S., Mohd Sanusi, Z., & Ali, M. M. (2019). Political connections, family ownership and firms’ performance in Malaysia. International Journal of Innovation, Creativity and Change, 7(6), 114–136.
Jaskiewicz, P., Block, J. H., Combs, J. G., & Miller, D. (2015). The Effects of Founder and Family Ownership on Hired CEOs’ Incentives and Firm Performance. Entrepreneurship: Theory and Practice, 41(1). https://doi.org/10.1111/etap.12169
Jaskiewicz, P., Block, J. H., Miller, D., & Combs, J. G. (2017). Founder Versus Family Owners’ Impact on Pay Dispersion Among Non-CEO Top Managers: Implications for Firm Performance. Journal of Management, 43(5), 1524–1552. https://doi.org/10.1177/0149206314558487
Jensen, C., & Meckling, H. (1976). Theory Of The Firm : Managerial Behavior , Agency Costs And Ownership Structure I . Introduction and summary In this paper WC draw on recent progress in the theory of ( 1 ) property rights , firm . In addition to tying together elements of the theory of e. 3, 305–360.
Jurnali, T., & Septiany, S. (2022). Role of Political Connections, Family Ownership, Founders on Board and Firm Performance. Jurnal Ipteks Terapan, 16(4), 688–700. https://doi.org/http://dx.doi.org/10.22216/jit.v16i4
Kao, M. F., Hodgkinson, L., & Jaafar, A. (2019). Ownership structure, board of directors and firm performance: evidence from Taiwan. Corporate Governance (Bingley), 19(1), 189–216. https://doi.org/10.1108/CG-04-2018-0144
Laksono, B. S., & Kusumaningtias, R. (2021). Pengaruh Good Corporate Governance Terhadap Kinerja Keuangan dan Nilai Perusahaan Sektor Aneka Industri Tahun 2016-2018. Jurnal Akuntansi Unesa, 9(2), 1–12.
Li, F., & Srinivasan, S. (2011). Corporate governance when founders are directors. Journal of Financial Economics, 102(2), 454–469. https://doi.org/10.1016/j.jfineco.2010.11.006
Mahmud, N. M., Mohamed, I. S., Arshad, R., & Reskino. (2021). Board characteristics and disclosure of corporate anti-corruption policies. Management and Accounting Review, 20(2), 209–229. https://doi.org/10.24191/MAR.V20i02-09
Makhlouf, M. H., Laili, N. H., Basah, M. Y. A., & Ramli, N. A. (2017). Board of Directors’ Effectiveness and Firm Performance: Evidence from Jordan. Research Journal of Finance and Accounting, 8(18), 23–34. https://www.researchgate.net/publication/320130813
Makhlouf, M. H., Laili, N. H., Ramli, N. A., Al-Sufy, F., & Basah, M. Y. (2018). Board of directors, firm performance and the moderating role of family control in JORDAN. Academy of Accounting and Financial Studies Journal, 22(5).
Marzuki, M. M. M., & Shukri, R. S. H. S. (2019). Directors’ remuneration, firm performance and political connection: Evidence from state-owned enterprise (SOE) in Malaysia [(Ganjaran Pengarah, prestasi firma dan hubungan politik: Bukti Dari Syarikat Milikan Kerajaan (SOE) di Malaysia)]. European Journal of Economics, Finance And Administrative Sciences, 57. https://www.scopus.com/inward/record.uri?eid=2-s2.0-85078529292&partnerID=40&md5=d1635bda22a8078eb4533b2fed055cd2
Meiriasari, V. (2017). Pengaruh corporate governance, kepemilikan keluarga, kepemilikan institusional dan ukuran perusahaan (firm size) terhadap biaya utang. JURNAL ILMIAH EKONOMI GLOBAL MASA KINI VOLUME 8 No.01JULI 2017, 8(01), 28–34.
Mohammed, N. (2018). Board Characteristics and Firm Performance: Empirical Evidence From Indonesia. The Journal of The University of Duhok, 21(1), 423–430. https://doi.org/10.26682/hjuod.2018.21.1.23
Nugroho, F. A. (2014). Analisis Pengaruh Corporate Social Responsibility Dan Karakteristik Good Corporate Governance Terhadap Kinerja Perusahaan (Studi Empiris pada Perusahaan Manufaktur yang Terdaftar di BEI tahun 2012). Skripsi. Fakultas Ekonomika Dan Bisnis. Universitas Diponegoro Semarang. http://eprints.ums.ac.id/id/eprint/83882
Pierni, P., Montagna, D. M., & Maggi, M. (2022). Founding Family Ownership and Firm Performance: Some Evidence from the Italian Stock Market. Journal of Risk and Financial Management, 15(5). https://doi.org/10.3390/jrfm15050231
Ratnasari, R. B., Titisari, K. H., & Suhendro. (2016). Pengaruh Value Added Intellectual Capital, GCG, dan Struktur Kepemilikan Terhadap Kinerja Keuangan. Journal of Economic and Economic Education, 4(2), 240–257. https://doi.org/10.22202/economica.2016.v4.i2.382
Samara, G., & Berbegal-Mirabent, J. (2018). Independent directors and family firm performance: does one size fit all? International Entrepreneurship and Management Journal, 14(1), 149–172. https://doi.org/10.1007/s11365-017-0455-6
Sanchez, R., Galbreath, J., & Nicholson, G. (2017). Building sustainability competence from the top down: A model for researching and improving boards of directors’ influence on firms’ sustainability performance. Research in Competence-Based Management, 8, 69–107. https://doi.org/10.1108/S1744-211720170000008004
Sarto, F., & Saggese, S. (2022). Board industry expertise and innovation input: evidence on the curvilinear relationship and the moderating effect of CEO. European Journal of Innovation Management, 25(6), 775–803. https://doi.org/10.1108/ejim-07-2021-0372
Shao, L. (2019). Dynamic study of corporate governance structure and firm performance in China: Evidence from 2001-2015. Chinese Management Studies, 13(2), 299–317. https://doi.org/10.1108/CMS-08-2017-0217
Srivastava, A., & Bhatia, S. (2020). Influence of Family Ownership and Governance on Performance: Evidence from India. Global Business Review, January. https://doi.org/10.1177/0972150919880711
Su, Z. qin, & Fung, H. G. (2013). Political connections and firm performance in Chinese companies. Pacific Economic Review, 18(3), 283–317. https://doi.org/10.1111/1468-0106.12025
Sudana, I. M., & Dwiputri, E. (2018). Karakteristik CEO Dan Kinerja Perusahaan Non-Keuangan Yang Teraftar Di Bursa Efek Indonesia. Jurnal Manajemen Dan Bisnis Indonesia, 5(3), 299–314. https://doi.org/10.31843/jmbi.v5i3.169
Tanzil, S. N., & Juniarti. (2017). Pengaruh Struktur Kepemilikan Keluarga Terhadap Kinerja. Business Accounting Review, 5(2), 241–252. https://publication.petra.ac.id/index.php/akuntansi-bisnis/article/view/6553/5968
Taras, V., Memili, E., Wang, Z., & Harms, H. (2018). Family involvement in publicly traded firms and firm performance: a meta-analysis. Management Research Review, 41(2), 225–251. https://doi.org/10.1108/MRR-05-2017-0150
Tjager, I. N. (2003). Corporate Governance, Tantangan dan Kesempatan Bagi Komunitas Bisnis Indonesia, PT. Prenhallindo.
Tonggano, S., & Christiawan, Y. J. (2017). Pengaruh Kepemilikan Keluarga Terhadap Profitabilitas Perusahaan Pada Perusahaan Menggunakan Firm Size, Firm Age Dan Sales Growth Sebagai Variabel Kontrol. Business Accounting Review, 5(2), 397–408.
Utamaningsi, L. (2020). Perusahaan Keluarga, Koneksi Politik & Kinerja Perusahaan. Jurnal Ilmiah Universitas Batanghari Jambi, 20(1), 68. https://doi.org/10.33087/jiubj.v20i1.840
Wang, K., Pellegrini, M. M., Xue, J., & Wang, C. (2020). Environment uncertainty and a firm’s strategic change the moderating role of political connection and family ownership. Journal of Family Business Management, 10(4), 313–327. https://doi.org/10.1108/JFBM-06-2019-0041
Wiranata, Y. A., & Nugrahanti, Y. W. (2013). Pengaruh Struktur Kepemilikan Terhadap Profitabilitas Perusahaan Manufaktur di Indonesia. Jurnal Akuntansi Dan Keuangan, 15(1), 15–26. https://doi.org/10.9744/jak.15.1.15-26
Wulandari, R., Tumirin, & Suwandi. (2018). Good Corporate Governance Dan Kinerja Keuangan. Media Akuntansi Dan Perpajakan Indonesia, 1(2), 139–160. https://doi.org/10.37715/mapi.v2i2.1724
Xu, N., Yuan, Q., Jiang, X., & Chan, K. C. (2015). Founder’s political connections, second generation involvement, and family firm performance: Evidence from China. Journal of Corporate Finance, 33, 243–259. https://doi.org/10.1016/j.jcorpfin.2015.01.004
Yopie, S., & Chrislin, C. (2022). Analisis Pengaruh Keterlibatan Keluarga terhadap Kinerja Perusahaan di Indonesia. Owner, 6(1), 359–368. https://doi.org/10.33395/owner.v6i1.593
Yopie, S., Supriyanto, S., & Chandra, B. (2018). Peran Struktur Dewan Dalam Mempengaruhi Kinerja Pada Nilai Perusahaan Keluarga. Jesya (Jurnal Ekonomi & Ekonomi Syariah), 2(1), 45–53. https://doi.org/10.36778/jesya.v2i1.36
Zaandam, A., Hasija, D., Ellstrand, A. E., & Cummings, M. E. (2021). Founder and professional CEOs’ performance differences across institutions: A meta-analytic study. Global Strategy Journal, 11(4), 620–655. https://doi.org/10.1002/gsj.1414
Zhuang, J., Edwards, D., & Capulong, M. V. A. (2001). Corporate governance and finance in East Asia: A study of Indonesia, Republic of Korea, Malaysia, Philippines and Thailand. In Asian Development Bank: Vol. I. http://hdl.handle.net/11540/6222
Beuren, I. M., Politelo, L., & Martins, J. A. S. (2016). Influence of family ownership on company performance. International Journal of Managerial Finance, 12(5), 654–672. https://doi.org/10.1108/IJMF-09-2014-0151
Bhawe, N., Gupta, V. K., & Pollack, J. M. (2017). Founder exits and firm performance: An exploratory study. Journal of Business Venturing Insights, 8(May), 114–122. https://doi.org/10.1016/j.jbvi.2017.09.001
Chu, W. (2011). Family ownership and firm performance: Influence of family management, family control, and firm size. Asia Pacific Journal of Management, 28(4), 833–851. https://doi.org/10.1007/s10490-009-9180-1
Claessens, S., Djankov, S., & Lang, L. H. P. (2000). The separation of ownership and control in East Asian Corporations. In Journal of Financial Economics (Vol. 58, Issues 1–2). https://doi.org/10.1016/s0304-405x(00)00067-2
Darmadi, S., & Sodikin, A. (2013). Information disclosure by family-controlled firms: The role of board independence and institutional ownership. Asian Review of Accounting, 21(3), 223–240. https://doi.org/10.1108/ARA-01-2013-0009
Darmayanti, Y., Rifa, D., & Khairia, I. (2021). Pengaruh Corporate Governance Terhadap Hubungan Keterlibatan Dewan Di Bidang Politik Dan Manajemen Laba. Jurnal Akademi Akuntansi, 4(2), 138–151. https://doi.org/10.22219/jaa.v4i2.16659
Eva Fauziah Ahmad. (2020). Pengaruh Return On Asset, Leverage, Ukuran Perusahaan, Kompensasi Rugi Fiskal Dan Koneksi Politik Terhadap Tax Avoidance (StudipadaSektor Industri Barang Konsumsi yang terdaftar di Bursa Efek Indonesia PeriodeTahun 2013-2017). J-Aksi : Jurnal Akuntansi Dan Sistem Informasi, 1(1), 12–27. https://doi.org/10.31949/j-aksi.v1i1.172
Fakhry, A. F. (2021). Influence of Family Ownership on Firm Performance: A Study of SMEs in Kabul. Kardan Journal of Economics and Manangement Sciences, 4(2), 61. https://doi.org/10.31841/kjems.2021.4
Giovani, M. (2019). Pengaruh Struktur Kepemilikan, Tata Kelola Perusahaan, Dan Karakteristik Perusahaan Terhadap Manajemen Laba. Jurnal Akuntansi Bisnis, 15(2), 290. https://doi.org/10.24167/jab.v16i1.1367
Harymawan, I., Nasih, M., Madyan, M., & Sucahyati, D. (2019). The role of political connections on family firms’ performance: evidence from Indonesia. International Journal of Financial Studies, 7(4). https://doi.org/10.3390/ijfs7040055
Harymawan, I., & Nowland, J. (2016). Political connections and earnings quality: How do connected firms respond to changes in political stability and government effectiveness? International Journal of Accounting and Information Management, 24(4), 339–356. https://doi.org/10.1108/IJAIM-05-2016-0056
Hashmi, M. A., Brahmana, R. K., & Lau, E. (2018). Political connections, family firms and earnings quality. Management Research Review, 41(4), 414–432. https://doi.org/10.1108/MRR-05-2017-0136
Hasnan, S., Kamaruzaman, I. S., Mohd Sanusi, Z., & Ali, M. M. (2019). Political connections, family ownership and firms’ performance in Malaysia. International Journal of Innovation, Creativity and Change, 7(6), 114–136.
Jaskiewicz, P., Block, J. H., Combs, J. G., & Miller, D. (2015). The Effects of Founder and Family Ownership on Hired CEOs’ Incentives and Firm Performance. Entrepreneurship: Theory and Practice, 41(1). https://doi.org/10.1111/etap.12169
Jaskiewicz, P., Block, J. H., Miller, D., & Combs, J. G. (2017). Founder Versus Family Owners’ Impact on Pay Dispersion Among Non-CEO Top Managers: Implications for Firm Performance. Journal of Management, 43(5), 1524–1552. https://doi.org/10.1177/0149206314558487
Jensen, C., & Meckling, H. (1976). Theory Of The Firm : Managerial Behavior , Agency Costs And Ownership Structure I . Introduction and summary In this paper WC draw on recent progress in the theory of ( 1 ) property rights , firm . In addition to tying together elements of the theory of e. 3, 305–360.
Jurnali, T., & Septiany, S. (2022). Role of Political Connections, Family Ownership, Founders on Board and Firm Performance. Jurnal Ipteks Terapan, 16(4), 688–700. https://doi.org/http://dx.doi.org/10.22216/jit.v16i4
Kao, M. F., Hodgkinson, L., & Jaafar, A. (2019). Ownership structure, board of directors and firm performance: evidence from Taiwan. Corporate Governance (Bingley), 19(1), 189–216. https://doi.org/10.1108/CG-04-2018-0144
Laksono, B. S., & Kusumaningtias, R. (2021). Pengaruh Good Corporate Governance Terhadap Kinerja Keuangan dan Nilai Perusahaan Sektor Aneka Industri Tahun 2016-2018. Jurnal Akuntansi Unesa, 9(2), 1–12.
Li, F., & Srinivasan, S. (2011). Corporate governance when founders are directors. Journal of Financial Economics, 102(2), 454–469. https://doi.org/10.1016/j.jfineco.2010.11.006
Mahmud, N. M., Mohamed, I. S., Arshad, R., & Reskino. (2021). Board characteristics and disclosure of corporate anti-corruption policies. Management and Accounting Review, 20(2), 209–229. https://doi.org/10.24191/MAR.V20i02-09
Makhlouf, M. H., Laili, N. H., Basah, M. Y. A., & Ramli, N. A. (2017). Board of Directors’ Effectiveness and Firm Performance: Evidence from Jordan. Research Journal of Finance and Accounting, 8(18), 23–34. https://www.researchgate.net/publication/320130813
Makhlouf, M. H., Laili, N. H., Ramli, N. A., Al-Sufy, F., & Basah, M. Y. (2018). Board of directors, firm performance and the moderating role of family control in JORDAN. Academy of Accounting and Financial Studies Journal, 22(5).
Marzuki, M. M. M., & Shukri, R. S. H. S. (2019). Directors’ remuneration, firm performance and political connection: Evidence from state-owned enterprise (SOE) in Malaysia [(Ganjaran Pengarah, prestasi firma dan hubungan politik: Bukti Dari Syarikat Milikan Kerajaan (SOE) di Malaysia)]. European Journal of Economics, Finance And Administrative Sciences, 57. https://www.scopus.com/inward/record.uri?eid=2-s2.0-85078529292&partnerID=40&md5=d1635bda22a8078eb4533b2fed055cd2
Meiriasari, V. (2017). Pengaruh corporate governance, kepemilikan keluarga, kepemilikan institusional dan ukuran perusahaan (firm size) terhadap biaya utang. JURNAL ILMIAH EKONOMI GLOBAL MASA KINI VOLUME 8 No.01JULI 2017, 8(01), 28–34.
Mohammed, N. (2018). Board Characteristics and Firm Performance: Empirical Evidence From Indonesia. The Journal of The University of Duhok, 21(1), 423–430. https://doi.org/10.26682/hjuod.2018.21.1.23
Nugroho, F. A. (2014). Analisis Pengaruh Corporate Social Responsibility Dan Karakteristik Good Corporate Governance Terhadap Kinerja Perusahaan (Studi Empiris pada Perusahaan Manufaktur yang Terdaftar di BEI tahun 2012). Skripsi. Fakultas Ekonomika Dan Bisnis. Universitas Diponegoro Semarang. http://eprints.ums.ac.id/id/eprint/83882
Pierni, P., Montagna, D. M., & Maggi, M. (2022). Founding Family Ownership and Firm Performance: Some Evidence from the Italian Stock Market. Journal of Risk and Financial Management, 15(5). https://doi.org/10.3390/jrfm15050231
Ratnasari, R. B., Titisari, K. H., & Suhendro. (2016). Pengaruh Value Added Intellectual Capital, GCG, dan Struktur Kepemilikan Terhadap Kinerja Keuangan. Journal of Economic and Economic Education, 4(2), 240–257. https://doi.org/10.22202/economica.2016.v4.i2.382
Samara, G., & Berbegal-Mirabent, J. (2018). Independent directors and family firm performance: does one size fit all? International Entrepreneurship and Management Journal, 14(1), 149–172. https://doi.org/10.1007/s11365-017-0455-6
Sanchez, R., Galbreath, J., & Nicholson, G. (2017). Building sustainability competence from the top down: A model for researching and improving boards of directors’ influence on firms’ sustainability performance. Research in Competence-Based Management, 8, 69–107. https://doi.org/10.1108/S1744-211720170000008004
Sarto, F., & Saggese, S. (2022). Board industry expertise and innovation input: evidence on the curvilinear relationship and the moderating effect of CEO. European Journal of Innovation Management, 25(6), 775–803. https://doi.org/10.1108/ejim-07-2021-0372
Shao, L. (2019). Dynamic study of corporate governance structure and firm performance in China: Evidence from 2001-2015. Chinese Management Studies, 13(2), 299–317. https://doi.org/10.1108/CMS-08-2017-0217
Srivastava, A., & Bhatia, S. (2020). Influence of Family Ownership and Governance on Performance: Evidence from India. Global Business Review, January. https://doi.org/10.1177/0972150919880711
Su, Z. qin, & Fung, H. G. (2013). Political connections and firm performance in Chinese companies. Pacific Economic Review, 18(3), 283–317. https://doi.org/10.1111/1468-0106.12025
Sudana, I. M., & Dwiputri, E. (2018). Karakteristik CEO Dan Kinerja Perusahaan Non-Keuangan Yang Teraftar Di Bursa Efek Indonesia. Jurnal Manajemen Dan Bisnis Indonesia, 5(3), 299–314. https://doi.org/10.31843/jmbi.v5i3.169
Tanzil, S. N., & Juniarti. (2017). Pengaruh Struktur Kepemilikan Keluarga Terhadap Kinerja. Business Accounting Review, 5(2), 241–252. https://publication.petra.ac.id/index.php/akuntansi-bisnis/article/view/6553/5968
Taras, V., Memili, E., Wang, Z., & Harms, H. (2018). Family involvement in publicly traded firms and firm performance: a meta-analysis. Management Research Review, 41(2), 225–251. https://doi.org/10.1108/MRR-05-2017-0150
Tjager, I. N. (2003). Corporate Governance, Tantangan dan Kesempatan Bagi Komunitas Bisnis Indonesia, PT. Prenhallindo.
Tonggano, S., & Christiawan, Y. J. (2017). Pengaruh Kepemilikan Keluarga Terhadap Profitabilitas Perusahaan Pada Perusahaan Menggunakan Firm Size, Firm Age Dan Sales Growth Sebagai Variabel Kontrol. Business Accounting Review, 5(2), 397–408.
Utamaningsi, L. (2020). Perusahaan Keluarga, Koneksi Politik & Kinerja Perusahaan. Jurnal Ilmiah Universitas Batanghari Jambi, 20(1), 68. https://doi.org/10.33087/jiubj.v20i1.840
Wang, K., Pellegrini, M. M., Xue, J., & Wang, C. (2020). Environment uncertainty and a firm’s strategic change the moderating role of political connection and family ownership. Journal of Family Business Management, 10(4), 313–327. https://doi.org/10.1108/JFBM-06-2019-0041
Wiranata, Y. A., & Nugrahanti, Y. W. (2013). Pengaruh Struktur Kepemilikan Terhadap Profitabilitas Perusahaan Manufaktur di Indonesia. Jurnal Akuntansi Dan Keuangan, 15(1), 15–26. https://doi.org/10.9744/jak.15.1.15-26
Wulandari, R., Tumirin, & Suwandi. (2018). Good Corporate Governance Dan Kinerja Keuangan. Media Akuntansi Dan Perpajakan Indonesia, 1(2), 139–160. https://doi.org/10.37715/mapi.v2i2.1724
Xu, N., Yuan, Q., Jiang, X., & Chan, K. C. (2015). Founder’s political connections, second generation involvement, and family firm performance: Evidence from China. Journal of Corporate Finance, 33, 243–259. https://doi.org/10.1016/j.jcorpfin.2015.01.004
Yopie, S., & Chrislin, C. (2022). Analisis Pengaruh Keterlibatan Keluarga terhadap Kinerja Perusahaan di Indonesia. Owner, 6(1), 359–368. https://doi.org/10.33395/owner.v6i1.593
Yopie, S., Supriyanto, S., & Chandra, B. (2018). Peran Struktur Dewan Dalam Mempengaruhi Kinerja Pada Nilai Perusahaan Keluarga. Jesya (Jurnal Ekonomi & Ekonomi Syariah), 2(1), 45–53. https://doi.org/10.36778/jesya.v2i1.36
Zaandam, A., Hasija, D., Ellstrand, A. E., & Cummings, M. E. (2021). Founder and professional CEOs’ performance differences across institutions: A meta-analytic study. Global Strategy Journal, 11(4), 620–655. https://doi.org/10.1002/gsj.1414
Zhuang, J., Edwards, D., & Capulong, M. V. A. (2001). Corporate governance and finance in East Asia: A study of Indonesia, Republic of Korea, Malaysia, Philippines and Thailand. In Asian Development Bank: Vol. I. http://hdl.handle.net/11540/6222
Published
2023-03-26
How to Cite
JURNALI, Teddy; VONNY, Vonny.
Pendiri di Dewan Direksi dan Kinerja Perusahaan yang Dimoderasi Koneksi Politik dan Kepemilikan Keluarga.
E-Jurnal Akuntansi, [S.l.], v. 33, n. 3, p. 589-601, mar. 2023.
ISSN 2302-8556.
Available at: <https://ojs.unud.ac.id/index.php/akuntansi/article/view/94789>. Date accessed: 21 nov. 2024.
doi: https://doi.org/10.24843/EJA.2023.v33.i03.p01.
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