BOARD OF COMMISSIONERS AND FIRM VALUE : THE CASE OF INDONESIA

Refdiandri, Refdiandri (2008) BOARD OF COMMISSIONERS AND FIRM VALUE : THE CASE OF INDONESIA. Other thesis, Fakultas Ekonomi.

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Abstract

This thesis reexamines the relation between firm value and board structure. The thesis found that complex firm in Indonesia have larger board of commissioners and more non-indepndent commissioners than simple firm. The others founding is high R&D firms will have a higher fraction of non-independent commissioners on the board. This thesis using Tobin's Q as the proxy for firm value. There are two founding in relation to the Tobin's Q. First, Tobin's Q increases in board of commissioners. Meanwhile the second told that fraction of non-independent commissioners on the board in high R&D firms do not affected the Tobin's Q. This thesis is the replication of the journal of Jeffrey L. Coles, Naveen D. Daniel and Lalitha Naveen which is published in 2007. Coles, Daniel and Naveen apply one tier governance model, meanwhile this research took the European Continental governance model.

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