Calista, Olinda and Ernie, Hendrawaty and Huzaimah, Fiska and Tereladze, D The Effect of Multiple Large Shareholders and Contestability on Firm Value. In: НАУЧНЫЕ ТРУДЫ Северо-Западного института управления РАНХиГС.

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Abstract

Yetri O. C., Hendrawaty E., Fiska H., Tereladze D. The Effect of Multiple Large Shareholders and Contestability on Firm Value This study aims to analyze the existence of multiple large shareholders and their relationship to the value of the firm. Besides, this study is also aimed to examine whether the existence of multiple large shareholders to contest the most significant shareholder to other large shareholders would affect the firm value. This study utilizes firm value as the dependent variable and independent variables, includ�ing multiple large shareholders and contestability. The control variables that are utilized include firm size, leverage, growth, and tangibility. The samples are listed companies on the Indonesia Stock Exchange for some time from 2016 to 2019, excluding financial and state-owned companies. The analysis that is utilized is a multiple regression model with a panel data approach. The study results show that: (1) Multiple large shareholders positively affect firm value, and (2) There is a positive effect between contestability of the controlling coalition’s power and the value of the firm. Keywords: corporate governance; multiple large shareholders; contestability; firm value

Item Type:	Conference or Workshop Item (Paper)
Subjects:	H Social Sciences > HG Finance
Divisions:	Fakultas Ekonomi dan Bisnis (FEB) > Prodi Manajemen
Depositing User:	DR ERNIE HENDRAWATY
Date Deposited:	01 Aug 2022 06:45
Last Modified:	01 Aug 2022 06:45
URI:	http://repository.lppm.unila.ac.id/id/eprint/43742

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