The Relationship Between Firm Value and Ownership of Family Firms: A Case Study in Indonesia

• 발행기관: 한국유통과학회
• 저자명: Lintang VENUSITA Dian AGUSTIA
• 간행물 정보: 『The Journal of Asian Finance, Economics and Business(JAFEB)』Vol. 8 No.4, 863~873쪽, 전체 11쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2021.04.30

영문 초록

The purpose of this research is to examine the effect of family share ownership on the value of family companies and differences in the value of the firm - a family firm managed by family members and a family firm managed by non-family members. This research is also related to agency problems, namely share ownership and professional management can increase company value. This research uses the firm value as the dependent variable that is measured using Tobin’s Q. Meanwhile the independent variable in this research is family ownership, and firm size is the control variable. The purposive sampling method was used to determine the sample for this research. The object of this research is 78 family companies listing on the Indonesian Stock Exchange in 2017. The hypothesis is tested by using multiple linear regression analysis which meets the analysis requirements test or classic assumption test. The results show that majority family ownership does not affect the value of the firm and there is no difference in the firm value of family firm led by family members and the firm value of family firm managed by non-family members.

목차

1. Introduction

2. Literature Review

3. Research Method

4. Results

5. Discussion

키워드

Firm Value Family Firm Ownership Company Management