The Ownership, Remuneration, Corporate Governance, and Financial Performance of Indonesian State-Owned Enterprises
- 10.2991/aebmr.k.200410.045How to use a DOI?
- ownership, remuneration, corporate governance, SOE, financial performance
The purpose of this research is to investigate the relationship between ownership, remuneration, corporate governance, and the financial performance of Indonesian state-owned enterprises (SOEs). The research population is all state-owned enterprises listed in the Indonesia Stock Exchange, and the samples were selected using purposive sampling. Using generally least square multiple regression analysis, this study finds that public ownership has a positive and significant effect on financial performance. Independent board of commissioners and independent audit committee have a significant positive effect on financial performance, but the size of board of commissioners and the size of audit committee have no effect on performance. The board of commissioners’ remuneration has a negative effect on performance, while directors’ remuneration has a positive effect on performance. The results also imply that remuneration at executive level has a positive impact on performance, but at supervisory level it has no effect, except adding to the burden. Leverage, as measured by debt to assets ratio, has a negative effect on performance.
- © 2020, the Authors. Published by Atlantis Press.
- Open Access
- This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).
Cite this article
TY - CONF AU - Surifah AU - Iffah Rofiqoh AU - Krismiaji PY - 2020 DA - 2020/04/13 TI - The Ownership, Remuneration, Corporate Governance, and Financial Performance of Indonesian State-Owned Enterprises BT - Proceedings of the 3rd Asia Pacific International Conference of Management and Business Science (AICMBS 2019) PB - Atlantis Press SP - 295 EP - 300 SN - 2352-5428 UR - https://doi.org/10.2991/aebmr.k.200410.045 DO - 10.2991/aebmr.k.200410.045 ID - 2020 ER -