文章基本信息

标题：Does Ownership Structure Pay Attention to The Corporate Cash Policy? Evidence in Indonesia Firms
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作者：R. Heru Kristanto HC ; R. Heru Kristanto HC ; Mamduh Mahmadah Hanaf 等
期刊名称：Etikonomi
印刷版ISSN：1412-8969
电子版ISSN：2461-0771
出版年度：2019
卷号：18
期号：2
页码：209-220
DOI：10.15408/etk.v18i2.10294
语种：English
出版社：Universitas Islam Negeri Syarif Hidayatullah Jakarta
摘要：Cash and its use will connect to many things, such as the performance of corporate governance. This empirical research examines the interaction effect of insider ownership, institutional ownership, and independent board toward the influence of cash policy on the firm value. This research using agency theory framework, corporate governance using Indonesia listed firms’ samples over 2001-2017 (197 firms, 3349 observation). Fixed effect dynamic panel regression and regression-moderated analysis used in this research. We show that these results suggest that the insider ownership, institutional ownership, and independent board strengthen the influence of the corporate cash policy on firm’s value. It develops the previous research findings in Indonesia, especially in the implication of cash management from the perspective of agency theory and corporate governance.
其他摘要：Kas dan penggunaannya akan dikaitkan dengan banyak hal, termasuk kinerja tata kelola organisasi. Dalam konteks ini, struktur kepemilikan memiliki fungsi monitoring. Riset empiris menguji peran kepemilikan internal, kepemilikan institusi, dan dewan indepen
关键词：cash policy;insider ownership;institutional ownership;independent board
其他关键词：kebijakan kas;kepemilikan internal;kepemilikan institusi;dewan independen