Pengaruh struktur kepemilikan dan ukuran perusahaan terhadap kinerja perusahaan

Ansi Diayu Aldila, Michael Hadjaat, Rizky Yudaruddin

Abstract


Penelitian ini dilakukan untuk menguji dan menganalisis pengaruh Kepemilikan Institusional, Kepemilikan Pemerintah dan Ukuran Perusahaan terhadap Kinerja Perusahaan pada Perusahaan Pertambangan yang terdaftar di Bursa Efek Indonesia pada tahun 2012-2015. Data yang digunakan dalam penelitian ini diperoleh dari laporan keuangan perusahaan pertambangan yang telah dipublikasikan di website Bursa Efek Indonesia. Populasi yang digunakan dalam penelitian ini adalah seluruh perusahaan pertambangan yang terdaftar di Bursa Efek Indonesia dengan total populasi sebanyak 39 perusahaan. Berdasarkan teknik pengambilan sampel dengan purposive sampling didapatkan sampel sebanyak 27 perusahaan. Alat analisis data yang digunakan dalam penelitian ini adalah regresi data panel.


Keywords


Kepemilikan institusional; kepemilikan pemerintah; ukuran perusahaan; kinerja perusahaan

References


Ab Razak, NH, Ahmad, R, Aliahmed, HJ. 2008. Government Ownership and Performance: An Analysis of Listed Companies in Malaysia. SSRN Electronic Journal. 1-25

Abiodun, Y. 2013. The Effect of Firm Size on Firms Profitability in Nigeria. Journal of Economics and Sustainble Development. 4 (5) :

Ahmed, N and Hadi, OA. 2017. Impact of Ownership Structure on Firm Performance in the MENA Region: An Empirical Study. Accounting and Finance Research. 6 (3) : 105-115.

Aljifri, K, Moustafa, M. 2007. The Impact of Corporate Governance Mechanisms on the Performance of UEA Firms: An Empirical Analysis. Journal of Economics and Administrative Sciences. 23 (2) : 71-93.

Almudehki N, Zeitun R. 2012. Ownership Structure and Corporate Performance: Evidence From Qatar. Available from: http//www.ssrn.com.

Al-Najjar, B. (2010). Corporate Governance and Institutional Ownership: evidence from Jordan. Corporate Governance: The international Journal of Business in Society. 10 (2) : 176-190.

Al-Najjar, D. (2015). The Effect of Institutional Ownership on Firm Performance: Evidence from Jordanian Listed Firms. International Journal of Economics and Finance. 7 (12) : 97-105.

Amato, L.H. and Burson, T.E. 2007. The effects of firm size on profit rates in the financial services. Journal of Economics and Economic Education Research. 8 (1) : 67-82.

Arouri, H, Hossain, MM and Muttakin MB. 2014. Effects of board and ownership structure on corporate performance: Evidence from GCC countries. Journal of Accounting in Emerging Economies. 4 (1) : 117‐130.

Babalola, Y.A. 2013. The effect of firm size on firms’ profitability in Nigeria, Journal of Economics and Sustainable Development. 4 (5) : 90-94.

Bai, CE, Liu, Q, Lu, J, Song, FM, and Zhang, J. 2003. Corporate Governance and Market Valuation in China. William Davidson Working Paper (564) : 1-43.

Barnor, C and Odonkor TA. 2013. The Influence of Ownership Structure on Performance of Ghananian Insurance and Banking Firms. Pentvars Business Journal. 7(1-3) : 76-89

Bathala, CT, Moon, KP, Rao, RP. 1994. Managerial Ownership, Debt Policy, and the Impact of Institutional Holdings: An Agency Perspective. Financial Management. 23 (3) : 38-50.

BPS. Pertambangan Statistik Dasar. https://www.bps.go.id/subjek/view/id/10#subjekViewTab3. Diakses tanggal 6 Desember 2017 pukul 16.35 WITA.

Brigham, E.F & Houston JF. 2001. Fundamentals of Financial Management (8th ed.). Penerbit Erlangga: Jakarta.

Charfeddine, L and Elmarzougul, A. 2010. Institutional Ownership and Firm Performance: Evidence from France. The IUP Journal of Behavioral Finance. 7 (4) : 35-46.

Chung, K. H., & Zhang, H. (2011). Corporate Governance and Institutional Ownership. Journal of Financial and Quantitative Analysis. 46 (1) : 247-273.

Dahmash, F.N. (2015). Size Effect on Company Profitability: Evidence from Jordan. International Journal of Business and Management. 10(2), p. 58.

Denis, D. K., & McConnell, J. J. 2003. International corporate governance. Journal of Financial and Quantitative Analysis. 38 (1) : 1-36.

Dogan, M. 2013. Does firm size affect the firm profitability? Evidence from Turkey, Research Journal of Finance and Accounting. 4 (4) : 53-59.

Eisenhardt, KM. 1989. Agency Theory: An Assessment and Review. The Academy of Management Review. 14 (1) : 57-74.

Eng, LL, Mak, YT. 2003. Corporate Governance and Voluntary Disclosure”. Journal of Accounting and Public Policy. 22 (4) : 325-345.

Faizal, M. 2017. https://ekbis.sindonews.com/read/1257992/34/holding-pertambangan-dinilai-munculkan-tiga-masalah-krusial-1510826172. Diakses pada tanggal 6 Desember 2017 pukul 15.30 WITA.

Fazlzadeh, A, Hendi, AT, Mahboubi, K. 2011. The Examination of the Effect of Ownership Structure on Firm Performance in Listed Firms of Tehran Stock Exchange Based on the Type of the Industry. International Journal of Business and Management. 6 (3) : 249-266.

Gewati, M. 2016. http://ekonomi.kompas.com/read/2016/12/15/124400126/industri.tambang.global.dan.nasional.ada.di.ujung.tanduk. Diakses pada tanggal 16 Januari 2018 pukul 22.30 WITA.

Ghazali, NAM and Weetman, P. 2006. Perpetuating Traditional Influences: Voluntary Disclosure in Malaysia Following the Economic Crisis. Journal of International Accounting, Auditing and Taxation. 15 : 226–248.

Helfert, A. 1997. Teknik Analisis Keuangan. Penerbit Erlangga: Jakarta.

Jensen, M. C. and W. Meckling. 1976. Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure”. Journal of Financial Economics. (3) : 305-360.

Jogiyanto. 2008. Metodologi Penelitian Sistem Informasi. Andi Offset: Yogyakarta.

Juanda, B, Junaidi. 2012. Ekonometrika Deret Waktu Teori dan Aplikasi. IPB Press: Bogor.

Kartikasari, D. and Merianti, M. (2016). The Effect of Leverage and Firm Size to Profitability of Public Manufacturing Companies in Indonesia, International Journal of Economics and Financial Issues, 6(2), pp. 409-413.

Kouser, R., Bano, T., Azeem, M. and Hassan, M. (2012). Inter-relationship between profitability, growth and size: A case of non-financial companies from Pakistan, Pakistan Journal of Commerce & Social Sciences. 6 (2) : 405-419.

Krausert, A. 2009. Performance Management for Different Employee Groups: A Contribution to Employment Systems Theory. ISBN 3790821969.

Lee, J. 2009. Does size matter in firm performance? Evidence from US public firms, International Journal of the Economics of Business. 16 (2) :189-203.

Mak, YT and Li, Y. 2001. Determinants of Corporate Ownership and Board Structure: Evidence From Singapore”. Journal of Corporate Finance. 7 : 235–256.

Masry, M. 2016. The Impact of Institutional Ownership on the Performance at Companies Listed in the Egyptian Stock Market. IOSR Journal of Economics and Finance. 7 (1) (3) : 5-15.

Megginson, W. L., & Netter, J. M. (2001). From State to Market: A Survey of Empirical Studies on Privatization. Journal of Economic Literature. 39 (2) : 321-389.

Najid, N.A and Abdul Rahman, R. 2011. “Government Ownership and Performance of Malaysian Government-linked Companies”. International Research Journal of Finance and Economics. 61 (1) : 1450-2887.

Oman, C. P. 2001. Corporate Governance and National Development (OECD Development Centre Technical Paper, No 180).

Ongore, VO. 2011. The Relationship Between Ownership Structure and Firm Performance: An Empirical Analysis of Listed Companies in Kenya”. African Journal of Business Management. 5 (6) : 2120-2128.

Pervan, M. and Visic, J. (2012). Influence of firm size on its business success. Croatian Operational Research Review, 3 (1) : 213-223.

Penrose, E.T. 1959. The Theory of the Growth of the Firm, 1st edition, Oxford University Press: Oxford.

Ping, Z and Wing, CW. 2011. Corporate Governance: A Summary Review on Different Theory Approaches. International Research Journal of Finance and Economics. (68) : 7-13.

Porter, M.E. 1998. Competitive strategy: Techniques for analyzing industries and competitors. New York: Free Press.

Purwanto, EA, Sulistyastuti, DR. 2011. Metode Penelitian Untuk Administrasi Publik dan Masalah-Masalah Sosial. Gava Media: Yogyakarta.

Ramasamy, B., Ong, D. and Yeung, M.C. 2005. Firm size, ownership and performance in the Malaysian palm oil industry. Asian Academy of Management Journal of Accounting and Finance. 1(1) : 81-104.

Rose, C. (2007). Can Institutional Investors Fix the Corporate Governance Problem? Some Danish Evidence. Journal of Management and Governance, 11(4), 405-428.

Sekaran, Uma. 2006. Metodologi Penelitian untuk Bisnis. Salemba Empat: Jakarta.

Saleh, M, Zahirdin, G and Octaviani, E. 2017. Ownership Structure and Corporate Performance: Evidence From Property and Real Estate Public Companies in Indonesia. Investment Management and Financial Innovations. 14 (2) : 252-263.

Serrasqueiro, Z.S. and Nunes, P.M. (2008). Performance and size: empirical evidence from Portuguese SMEs, Small Business Economics, 31(2), pp. 195-217.

Shen W and Lin C. 2009. Firm Profitability, State Ownership, and Top Management Turnover at the Listed Firms in China: A Behavioral Perspective. Corporate Governance: An International Review. 17 (4) : 443–456.

Shleifer, A. and Vishny, R. 1997. A Survey of Corporate Governance. The Journal of Finance. 52 (2) : 737-783.

Sutrisno. 2009. Manajemen Keuangan: Teori, Konsep & Aplikasi, Cetakan Ketujuh. Ekonisia: Yogyakarta.

Thomsen, S., & Pedersen, T. 2000. Ownership Structure and Economic Performance in the Largest European Companies. Strategic Management Journal. 21 (6) : 689-705.

Xu, X and Wang Y. 1999. Ownership Structure and Corporate Governance in Chinese Stock Companies. Journal China Economic Review. 10 (1) : 75-98

Yudaruddin, Rizky. 2014. Statistik Ekonomi Aplikasi dengan Program SPSS Versi 20. Interpena: Yogyakarta.




DOI: https://doi.org/10.29264/jimm.v4i1.2835

Refbacks

  • There are currently no refbacks.


Copyright (c) 2020 Jurnal Ilmu Manajemen Mulawarman (JIMM)


Crossref logo 

Editorial Address

Jurnal Ilmu Manajemen Mulawarman (JIMM)
Faculty of Economics and Business, Mulawarman University
Jl. Tanah Grogot No.1 Samarinda Kalimantan Timur 75119
Email: jimm.feb@gmail.com