Insider Ownership, Corporate Diversification, and Firm Value: Evidence from REITs

Talukdar, Bakhtear; Soyeh, Kenneth W.; Parhizgari, Ali M.

doi:10.1080/08965803.2021.1885960

Cited by 10 publications

(15 citation statements)

References 52 publications

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“…Hal ini dikarenakan rasa cemas manajer jika ekspansi usaha akan merugikan mereka. Talukdar, Soyeh, & Parhizgari (2021) juga menduga kesimpulan yang sama, di mana mereka mendokumentasikan bahwa kepemilikan manajerial memiliki dampak negatif pada perusahaan properti yang terdiversifikasi. Jadi, perspektif kepentingan pribadi dari teori agensi menunjukkan bahwa dalam industri yang berkinerja buruk, kita harus mengamati beberapa perusahaan secara sistematis berinvestasi lebih banyak dalam diversifikasi.…”

Section: Kerangka Teoretis Dan Pengembangan Hipotesisunclassified

“…Beralih ke variabel independen utama, kepemilikan manajerial (MO) berkorelasi negatif dengan diversifikasi. Hal ini sesuai dengan konsensus dalam literatur seperti Chen & Yu (2012) dan Talukdar et al (2021). Koefisien korelasi yang ada di Tabel 3 menyiratkan bahwa kepemilikan manajerial yang lebih tinggi memiliki korelasi dengan diversifikasi yang lebih rendah.…”

Section: Hasil Dan Pembahasanunclassified

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Pengaruh Kepemilikan Managerial Terhadap Keputusan Diversifikasi Perusahaan

Kontesa

Contesa²,

Contesa³

2022

akurasi

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Penelitian ini bertujuan untuk menguji pengaruh kepemilikan manajerial terhadap diversifikasi perusahaan dengan menggunakan teori agensi sebagai kerangka teoretis. Penelitian ini menguji hipotesis dengan menggunakan 183 perusahaan yang terdaftar di Bursa Efek Indonesia dari tahun 2016 hingga 2020 dengan menggunakan regresi panel logistik. Hasil penelitian menunjukkan kepemilikan manajerial berpengaruh negatif terhadap diversifikasi perusahaan, yang mengindikasikan bahwa kepemilikan manajerial yang lebih tinggi akan membuat manajer menghindari risiko dengan cara menghindari diversifikasi. Temuan ini berlaku untuk diversifikasi industri dan diversifikasi geografis. Lebih lanjut lagi, penelitian ini berkontribusi pada literatur teori agensi dengan mengungkapkan konflik kepentingan manajer, yang juga merupakan pemegang saham, dalam membuat keputusan strategis. Hal ini juga mengungkapkan bahwa kepemilikan manajerial yang tinggi dapat merugikan kekayaan pemegang saham minoritas. Penelitian mendatang dapat mengelaborasi dampak tata kelola perusahaan atau sumber daya manusia terhadap diversifikasi perusahaan.

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Section: Kerangka Teoretis Dan Pengembangan Hipotesisunclassified

Section: Hasil Dan Pembahasanunclassified

Pengaruh Kepemilikan Managerial Terhadap Keputusan Diversifikasi Perusahaan

Kontesa

Contesa²,

Contesa³

2022

akurasi

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“…Hardin, Nagel, Roskelley, and Seagraves (2017) investigate motivated institutional investors in REITs and argue that they often impact firm performance and are the primary institutional monitors. Additional research comes from Ling, Wang, and Zhou (2019) and Talukdar, Soyeh, and Parhizgari (2020) and links returns to institutional and insider ownership.…”

Section: Robustness Checksmentioning

confidence: 99%

Employee productivity and REIT performance

Feng

Hardin

2020

Real Estate Economics

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The impact of employee productivity on real estate investment trust (REIT) performance is examined. Using a sample of U.S. equity REITs from 2003 to 2017, we first estimate parameters of a firm-level production function correcting for endogenous input choices. The coefficient for labor input is statistically significant, indicating that labor productivity is an important component of overall REIT productivity. More importantly, REIT operating efficiency and financial performance are found to be negatively correlated with previous-year employee instability (a proxy for employee turnover), but positively correlated with several lagged employee productivity measures, suggesting that a stable, motivated workforce improves a REIT's operating efficiency and performance. These findings suggest that employees play an important role in REIT operations and that managing employees properly and creating an effective corporate culture are essential to REIT performance.

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“…Capital Structure (Control Variable) is the proportion of external capital to the company's equity (Cho & Tsang, 2020;Husnaini & Tjahjadi, 2021;Setianto, 2020;Talukdar et al, 2021) which can be measured by DER ratio by formula:…”

Section: Introductionmentioning

confidence: 99%

The Role of Foreign Ownership in The Implementation of Green Economy in Hospitality Companies in Indonesia

Ekowati

Widiastuti

Mulyantini

2023

Eduvest

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The contribution of the tourism sector to the Indonesian economy is still less than 5%, even though this sector has a considerable multiplier effect. The Covid-19 pandemic has made this sector struggle to maintain its business. Green economy is an idea that is guided by people, planet, & profit and began to be discussed in various countries in the last period of time to realize sustainable business development. The purpose of this study is to evaluate the role of foreign ownership in moderating CSR activities and implementing green products in hospitality companies in Indonesia. Considering that foreign parties are more concerned about environmental issues and business sustainability. The research used was a quantitative method with a research sample of 38 hospitality companies listed on the Indonesia Stock Exchange in 2020 with moderated regression analysis. The results of this study show that foreign ownership is able to moderate CSR activities, but has not been able to moderate the implementation of green products on the value of hospitality industry companies in Indonesia. The results of this study can be taken into consideration for hospitality company management to formulate the right strategy to increase firm value.

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Insider Ownership, Corporate Diversification, and Firm Value: Evidence from REITs

Cited by 10 publications

References 52 publications

Pengaruh Kepemilikan Managerial Terhadap Keputusan Diversifikasi Perusahaan

Pengaruh Kepemilikan Managerial Terhadap Keputusan Diversifikasi Perusahaan

Employee productivity and REIT performance

The Role of Foreign Ownership in The Implementation of Green Economy in Hospitality Companies in Indonesia

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