PENGARUH REPUTASI MANAJEMEN PUNCAK DAN DEWAN KOMISARIS TERHADAP PENILAIAN INVESTOR PADA PERUSAHAAN YANG MELAKUKAN IPO
ABSTRACT: This research
empirically examines the influence of reputation of top management and board of
commissioner (BOC) on firm value. Top management has a primary role as a
strategic decision maker in a firm. Its actions and characteristics
specifically influence the organization’s outcomes. The main duty of BOC is to
ensure that managerial decisions are consistent with shareholders goals. One
indicator of top management and BOC’s competency and skill is reputation. The
purpose of the study is to investigate the influence of reputation of top
management and BOC on firm value at the Initial Public Offering (IPO). Its
effect is through a largely symbolic role to enhance organizational legitimacy
and it provides a signal to potential investors about the firm s prospect. The
samples include 59 firms undertaking IPO in the Jakarta Stock Exchange (JSX)
during 1999-2006. This study employs three characteristics of reputation:
education background, previous experiences and corporate board experiences.
This study finds that education background has a positive association with
investor valuation. Previous experiences and corporate board experiences do not
have significant association with investor valuation.
Penulis: Rias Aini, Sumiyana
Kode Jurnal: jpakuntansidd080082
