Chief Executive Officer (CEO) Power, CEO Keluarga, Dan Nilai IPO Premium Perusahaan Keluarga Di Indonesia

Authors

  • I Made Sudana Departemen Manajemen Fakultas Ekonomi dan Bisnis, Universitas Airlangga
  • Ni Putu Nina Aristina Departemen Manajemen Fakultas Ekonomi dan Bisnis, Universitas Airlangga

DOI:

https://doi.org/10.24912/ja.v21i2.196
Keywords: Initial public offering, CEO power, family CEO, and IPO premium

Abstract

he development of family firms led to increase the funding requirement forexpansion. Family firms can obtain funds from capital market by doing initial publicoffering (IPO). The aims of this research is to know the influence of CEO power usingproxy of CEO voting right, CEO tenure, and CEO interlock on IPO premium, and theinfluence of family CEO on IPO premium. This research uses 65 samples of family firm inIndonesia during 2001-2014. The result of multiple regression showed that CEO votingright, CEO interlock, and family CEO are positive significantly affect IPO premium. Thisfinding reveal that when investors make investment decision on IPO’s firms, they willevaluate the quality of firm’s CEO. Also, the presence of family CEO increase investor’svaluation on company shares that increase IPO premium.


Author Biographies

I Made Sudana, Departemen Manajemen Fakultas Ekonomi dan Bisnis, Universitas Airlangga

imadesudana@yahoo.co.id

Ni Putu Nina Aristina, Departemen Manajemen Fakultas Ekonomi dan Bisnis, Universitas Airlangga

ninaaristina@gmail.com

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Published

2017-05-31

How to Cite

I Made Sudana, & Ni Putu Nina Aristina. (2017). Chief Executive Officer (CEO) Power, CEO Keluarga, Dan Nilai IPO Premium Perusahaan Keluarga Di Indonesia. Jurnal Akuntansi, 21(2), 219–231. https://doi.org/10.24912/ja.v21i2.196

Issue

Vol. 21 No. 2 (2017): May 2017

Section

Articles

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Copyright (c) 2017 Jurnal Akuntansi

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This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License