Influența indicelui guvernanței corporative și a tranzacțiilor cu părțile afiliate asupra valorii companiei având ca variabilă moderatoare conexiunile politice: Cazul companiilor deținute de stat de la Bursa de Valori din Indonezia
Numărul 4, aprilie 2024 » Strategie de afaceri, risc și guvernanță corporativă
Rezumat: Corporate governance and company value are essential issues in managing state-owned companies in Indonesia. This research examines the influence of corporate governance index and related-party transactions on the value of state-owned companies on the Indonesia Stock Exchange by analyzing the role of political connections as a moderating variable. The population of this research is all state-owned companies on the Indonesia Stock Exchange from 2015 to 2022. The research sample was obtained using a purposive sampling technique. Data analysis uses moderated regression analysis. This research found that, in the case of state-owned companies in Indonesia, the corporate governance index positively affected company value. In contrast, related-party transactions harmed company value. Political connections have not been proven to be a moderating variable in the influence of corporate governance index on company value. However, they are proven on the influence between related-party transactions and company value. Investors in the Indonesian capital market assess political connections in state-owned companies in Indonesia as increasing the risk that it will worsen the influence of related-party transactions and the value of state-owned companies.
Clasificare JEL: G32, G30, O16 | Pagini: 68-79
Statistică:
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