机构持股和高管薪酬对公司绩效的影响(2014-2018年印尼证券交易所上市食品饮料行业研究)

Yunita Riaswati, Suherman, Umi Mardiyati
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引用次数: 0

摘要

本研究的目的是确定2014-2018年在印度尼西亚证券交易所上市的食品和饮料行业机构所有权和高管薪酬对公司绩效的影响。本研究使用的变量为机构所有权和高管薪酬为自变量,公司绩效(以Tobin’s Q、ROA和ROE为代理变量)为因变量,公司规模、杠杆率(以DAR为代理变量)和公司成立时间为因变量。本研究使用2014-2018年期间在印尼证券交易所上市的食品和饮料细分行业公司的年度报告数据和财务报表。采用的抽样方法为目的抽样法,采用均衡面板数据作为数据分析方法。本研究结果表明,机构持股对公司绩效有显著的正向影响(托宾Q代理),对ROA和ROE代理不显著,高管薪酬对公司绩效没有显著影响。
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THE EFFECT OF INSTITUTIONAL OWNERSHIP AND EXECUTIVE COMPENSATION ON COMPANY PERFORMANCE (STUDY ON FOOD AND BEVERAGE INDUSTRY LISTED IN INDONESIA STOCK EXCHANGE FROM 2014-2018)
ABSTRACT The purpose of this study is to determine the effect of institutional ownership and executive compensation on company performance in the food and beverage industry listed on the Indonesia Stock Exchange from 2014-2018. The variables used in this study are institutional ownership and executive compensation as independent variables, company performance (proxied by Tobin's Q, ROA, and ROE) as the dependent variable, as well as company size, leverage (proxied by DAR), and company age as the dependent variable. . This study uses annual report data and financial statements of food and beverage sub-sector companies listed on the Indonesia Stock Exchange in the 2014-2018 period. The sampling method used was the purposive sampling method, using balanced panel data as a method of data analysis. The results of this study indicate that institutional ownership has a significant positive effect on company performance (on Tobin's Q proxy) and insignificant (on the proxy of ROA and ROE), and executive compensation does not have a significant effect on company performance.
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