The increase in bankruptcy cases and delaying debt repayment by 16.43 percent during the year of 2015 to 2017 reinforced the importance of having good corporate governance to avoid this issue. This study aims to delve into the effect of ownership structures on the risk of financial distress in 421 companies (except financial institutions) in the period from 2012 to 2017. The types of ownership that are being examined are Institutional Ownership, Insider Ownership, Government Ownership, and Foreign Ownership. This study uses OLS Driscoll-Kraay standard error panel data regression. The results of this study shows that Institutional Ownership has a positive relationship to financial distress which is caused by the tendency of Institutional investors to conduct passive monitoring. Inversely, foreign ownership and government ownership have been proven to have a negative relationship with the risk of financial distress. This was caused by the capability of the foreign investors to do better-monitoring activities and maintain the ultimate shareholder's company in their home country. Furthermore, the presence of merah putih shares allows the government to have absolute voting power. This research intends to provide new business perspectives to companies, investors, regulators, creditors, and other stakeholders for economic decision-making purposes.

Penelitian ini bertujuan untuk menguji apakah laporan keberlanjutan memiliki relevansi nilai bagi investor dan mempengaruhi nilai perusahaan. Regresi berganda model Ohlson digunakan sebagai metode dengan 38 perusahaan terbuka di tahun 2014-2017 sebagai sampel. Hasil penelitian menujukkan bahwa investor menggunakan laporan keberlanjutan sebagai informasi yang bernilai tambah dalam membuat keputusan investasi. Para investor saat ini tidak hanya berfokus kepada keuntungan jangka pendek atau laba perusahaan, tetapi juga keberlanjutan dan keuntungan jangka panjang perusahaan agar dapat memuaskan semua stakeholders. Oleh karena itu, regulator diharapkan segera mencanangkan regulasi yang memadai terkait pengungkapan dalam laporan keberlanjutan.

This research examined the impact of gender diversity in the boardroom on firm performance using banks listed on the Indonesia Stock Exchange (IDX) in the period from 2011 to 2016. Indonesia listed companies have a two-tier board structure that consist of management and supervisory board. In addition, listed companies should establish a committee board that consists of independent directors from outside the company. Thus, we investigate the gender diversity from each boardroom namely management, supervisory, and committee board. Gender diversity is measured by the Blau Index while bank's financial performances are proxied by the Return on Assets (ROA) and Capital Adequacy Ratio (CAR). These two measurements are required by Indonesian Financial Service Authority or Otoritas Jasa Keuangan (OJK). We find that the average proportion of female directors sitting on management, supervisory, and committee board in banks are 16 percent, 9.7 percent, and 14 percent, respectively. Applying panel data analysis with fixed and random effect estimator and also addressing endogeneity issue, we find that there is no significant relationship between gender diversity indexes in each boardroom and both bank's financial performance ROA and CAR. These findings may shed a light for regulator in Indonesia especially OJK whether they consider imposing gender quota in the boardroom. Abstrak Penelitian ini mengkaji dampak keberagaman gender di ruang direksi terhadap kinerja perusahaan pada bank-bank yang terdaftar di Bursa Efek Indonesia (BEI) periode 2011-2016. Perusahaan yang terdaftar di Indonesia memiliki struktur dewan dua tingkat yang terdiri dari dewan pengurus dan pengawas. Selain itu, emiten harus membentuk dewan komite yang terdiri dari direktur independen dari luar perusahaan. Karenanya, kami menyelidiki keragaman gender dari setiap ruang rapat yaitu manajemen, pengawas, dan dewan komite. Keragaman gender diukur dengan Indeks Blau, sedangkan kinerja keuangan bank diproksikan dengan Return on Assets (ROA) dan Capital Adequacy Ratio (CAR). Kedua ukuran ini diwajibkan oleh Otoritas Jasa Keuangan (OJK). Kami menemukan bahwa rata-rata proporsi direksi perempuan yang menduduki jabatan pengurus, pengawas, dan dewan komite di Bank masingmasing adalah 16 percent, 9,7 persen, dan 14 persen. Menerapkan analisis data panel dengan penaksir efek tetap dan acak serta mengatasi masalah endogenitas, kami menemukan bahwa tidak ada hubungan yang signifikan antara indeks keragaman gender di setiap ruang rapat dengan ROA dan CAR kinerja keuangan kedua bank. Temuan ini dapat menjadi titik terang bagi regulator di Indonesia khususnya OJK apakah mempertimbangkan untuk memberlakukan kuota gender di ruang rapat. How to Cite: Farhana, S. (2020). The impact of gender diversity in the boardroom on banks performances.

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The purpose of this research were to find out (1) whether the types of politeness strategies in Enola Holmes movie are in accordance with politeness strategies proposed by Brown and Levinson (1987) or not, (2) what type of politeness strategies most frequently appeared in Enola Holmes movie, (3) which character(s) use politeness strategies most frequently than the others, and (4) what type of violating maxims based on Grice’s maxim most frequently appeared in Enola Holmes movie. The design of this research is a descriptive qualitative research. The data of the research were in the form of utterances that contained politeness strategies and cooperation and implicature (Violating of maxim). The result shows that (1) the types of politeness strategies in Enola Holmes movie are in accordance with politeness strategies proposed by Brown and Levinson (1987); (2) Bald on Record is the most frequent politeness strategies appeared in Enola Holmes movie. Bald on Record is mostly used by the characters because there is a power, social status, or close relationship among the characters.; (3) there are three characters who used politeness strategies more frequently, they are Enola Holmes, Sherlock Holmes, and Tewkesbury (4) Violating maxim of relevance is the most frequently appeared in Enola Holmes movie.