Keberagaman Dewan Direksi terhadap Struktur Modal

Lailatul Fitri, Vera Noviana Erlita

Abstract


The characteristics of the board in a company affect the company's capital structure because of the relationship between the monitoring mechanism which is a function of the board of directors on the company's capital structure. The purpose of this study was to determine the effect of the board of directors' diversity which is proxied on the variables of female presence, foreign citizenship, board size, sales growth, profitability and firm size on capital structure. This study uses quantitative methods using multiple linear regression methods. The sample of this study is a manufacturing company listing on the Indonesia Stock Exchange for the period of 2016 - 2017. The method used to determine the sample is purposive sampling. This research data can be obtained from secondary data, namely the company's annual report. The results of hypothesis testing using multiple linear regression showed that the presence of women and foreign citizenship had an effect while the variable board size, sales growth, profitability and firm size did not affect the capital structure.

Keywords


characteristics, board of directors, capital structure

Full Text:

PDF

References


Alves, Paulo et.al. 2015. “Board of Director’ Com-position and Capital Structure”.

Research in International Business and Finance 35 (2015) 1–32.

Ararat, M. et.al, 2010. “Impact of Board Diversity on Boards’ Monitoring Intensity and Firm Performance: Evidence From the Istanbul Stock Exchange”. JEL Classification: G3, J16, L25.

Brigham & Houston. 2012. “Fundamentals of Fina-cial Management (Tenth Edition)”. Carter, et.al. 2003. “Corporate Governance, Board Diversity,and Firm Value”. The

Financial Review 38, 33-53.

Darmadi, S. 2011. “Board Diversity And Firm Per-fomance: The Indonesian

Evidence”. Journal of Corporate Ownership And Control Volume 8, 2011.

Female Footprints in IDX-listed Companies. 2012. “Indonesia Boardroom Diversity

Report 2012”. Centre for Governance, Institutions & Organisations.

Harris, M & Raviv A. 1991. “The Theory Of Capital Structure”. Journal Of The

American Finance Association. Volume 46, Issue 1 March 1991 Pages 297–

Kusumastuti, dkk. 2007. “Pengaruh Board Diversity Terhadap Nilai Perusahaan dalam Persepktif Corporate Governance”. Jurnal Akuntansi Dan Keuangan, Vol. 9, No. 2, Nopember 2007: 88-98.

Manthos D. D, et al. 2015. “The Effect Of Board Directors From Countries With Different Ge-netic Diversity Levels On Corporate Perfor-mance”. Journal Of Bank Of Finland Research Discussion Papers 14, 2015. JEL: M10, M14, G30.

Pandey, I.M. 2001. “Capital Structure and the Firm Characteristics: Evidence from an

Emerging Market," IIMA Working Papers, Indian Institute of Ma

Titman, S, J. Kwon, A & D. Martin, J. 2011. “Finan-cial Management: Principles & Apllications, Eleventh Edition”. Pearson Education, Inc. Published by Prentice Hall. New Jersey.




DOI: https://doi.org/10.21107/jsmb.v5i1.6505

Refbacks

  • There are currently no refbacks.


Copyright (c) 2018 Lailatul Fitri, Vera Noviana Erlita

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.

Creative Commons License
Jurnal Studi Manajemen dan Bisnis by Universitas Trunojoyo Madura is licensed under a Creative Commons Attribution 4.0 International License.

ISSN: 2460-3775 (Online) dan ISSN: 2355-9543 (Print)