Pengaruh kepemilikan keluarga terhadap tingkat diversivikasi segmen usaha dalam konteks masalah agensi

Deskripsi

Thisthesisdiscussesabouttheinfluenceoffamilyownershiponlevelofbusinesssegmentdiversificationinrelationtoagencyproblem.Risk-aversecharactertendencyoffamily?sforsurvivingbusinessispresumedtocreateagencyconflicttoothernon-familystockholdersbecauseofinefficientinvestmentdecisions.Oneofthosedecisionsisdiversifyingbusinessthroughsegments.Thisresearchusescontrolvariableswhichincludesmajornon-familystockholders,independentcommissioners,leverage,size,profit,risk,age,andcashholdings.DatawereresearchedbyfixedeffectmethodafterpeviouslydoingChowTestandHausmanTestforchoosingtherightresearchmethod.Theresultofthisresearchshowsthatfamilyownershiphassignificantlynegativeinfluenceonlevelofbusinesssegmentdiversification.Thismeansthatagencyconflictdoesnotoccurbecausefamilymakeefficientinvestmentdecisionbyconcerningaboutothernon-familystockholders?welfare.Ada tabel