Independent Ownership Research Articles

Private hospitals in low- and middle-income countries: a typology using the cluster method, the case of Morocco

BackgroundThe private healthcare sector has become an essential component of healthcare systems globally. This interest has increased with the universal health coverage agenda. However, in most low- and middle-income countries, few classificatory studies of the private hospital sector were carried out.MethodsThis study describes the private hospital sector in a developing country setup and propose a typology that could facilitate the identification of its categories and the understanding of its organizational and strategic characteristics.ResultsAll private hospitals in Morocco as of December 31, 2021 including 397 facilities are included. Most hospitals are for-profit, poly-disciplinary, independent, commercial societies, have fewer than 30 beds or between 30 and 99 beds and are located in urban areas. Private hospitals have a median turnover of 9.8 million MAD and a median capital value of 2 million MAD. The clustering method identifies three main categories of private hospitals: for-profit hospitals with medium size and turnover, spread across the country but with a high concentration in large regions; not-for-profit hospitals, with medium to large size, high turnover, located in large regions and including university hospitals; and small for-profit hospitals with low turnover, independent ownership and wide distribution over the country. Three criteria have the most significant discriminatory power: ownership, size (beds, turnover) and mode of governance.ConclusionsPrivate hospitals in Morocco are organized into three types according to three similarity criteria including ownership, size and governance. These criteria might be used as the basis for a common typology of private hospitals in Morocco and possibly in other low- and middle-income countries with similar contexts.

The Effect of Good Corporate Governance on The Profitability of Mining Companies Listed on The Indonesia Stock Exchange

The aim of this research is to obtain empirical evidence regarding the influence of management ownership, institutional ownership, independent ownership boards, audit committees on profitability (Return On Equity) in companies listed on the Indonesia Stock Exchange. The sampling technique used purposive sampling, the research samples obtained were 15 companies for the 2019-2022 period so there were 60 analysis units. The research design is quantitative descriptive. The analysis technique in this research uses the panel data regression method. The research results show that management ownership, independent board ownership, and audit committee have no effect on profitability. Meanwhile, institutional ownership has a significant negative effect on profitability. The implication of this research is that companies must pay attention to institutional ownership shares, because they can have a negative impact on the company's profitability.

Assessment of Salient Problems Associated with the Separation of Ownership and Control of Modern Cor-porations: Evaluation of Solutions and Their Effectiveness

This paper examines the salient problems related to the separation of ownership and control of modern corporations, as discussed in the books The Wealth of Nations and The Modern Corporation and Private Property. It qualitatively analyzes past empirical studies and evaluates the effectiveness of various solutions aimed at alleviating the separation between ownership and control. The analysis reveals that the agency relationship between shareholders and organizational managers underpins the phenomenon of ownership and control separation in modern companies. This separation offers several benefits, including ensuring business sustainability through professional management, efficient decision-making, and maximizing physical capital. Additionally, numerous mechanisms have proven effective in managing these issues. The paper explores management ownership and incentives, independent ownership, and institutional ownership as solutions that they have been found to reduce institutional problems and manage risk avoidance.

Pengaruh Good Corporate Governance Terhadap Kinerja Keuangan pada Perusahaan Manufaktur di BEI Tahun 2017-2020

This study aims to determine the significance of the effect of managerial ownership, institutional ownership, independent ownership, and audit committee on the financial performance of manufacturing companies listed on the Indonesia Stock Exchange (IDX) in 2018–2020. The type of data in this study is secondary data (quantitative). The total population in this study was 201 companies in the consumer goods industry for the period 2018-2020. The number of samples used in this study were 55 companies, using purposive sampling method and multiple regression linear data analysis. Data were processed using SPSS 23. Simultaneous test results show that managerial ownership, institutional ownership, independent ownership, and audit committee have a significant effect on the company's financial performance. The results of the partial test show that only the independent ownership variable has a significant effect on the company's financial performance, while managerial ownership, institutional ownership, and the audit committee have no significant effect on the company's financial performance.

The impact of housing cooperative bankruptcy on the status of persons entitled under ownership rights to premises. Selected comments on a change in the Supreme Court’s position

The article presents an extremely important shift in the judicature by Poland’s Supreme Court as regards the assessment of the consequences of the transformation of the cooperative ownership right to a residential unit into the right of independent ownership of a residential unit in the wake of the housing cooperative’s bankruptcy proceedings. Originally, the Supreme Court held that a mortgage that encumbered the cooperative's real estate at the time of the transformation encumbers ex lege the resulting right of the independent ownership of a residential unit. Not until 2019 did the Supreme Court abandon this controversial position, and the ultimate change in its judicature is supported with a wide array of critical underlying motives. The author approves of the recently adopted judicial trajectory, yet with a proviso that the resolution of problems it pertains to be not left to the judicature only, as it requires the definitive intervention of the legislator.

Pengaruh Profitabilitas, Struktur Kepemilikan dan Pertumbuhan Perusahaan terhadap Kebijakan Dividen Pada Perusahaan Manufaktur

Dividen policy is a descision making regarding the distribution of profits earned by the company, whether it will be distributed to shareholders or will be retained in the form of retained earnings to finance investments in the future. This study aims to examine the effect of Profitability, Ownership Structure and Company Growth Rate on Dividend Policy in Manufacturing Companies listed on the Indonesia Stock Exchange for the 2018-2020 period. Samples were taken from as many as 43 companies. In this study, Profitability is proxied by using return on equity (ROE), Ownership Structure is proxied by Managerial Ownership (KM) and Company Growth is proxied by total asset growth (Growth). The sampling method used in this research is a purposive sampling method. The analytical method used in this research is descriptive statistical test, classical assumption test and multiple regression analysis test using the SPSS application. The results showed that the independent variables, namely profitability, ownership structure and company growth had a positive and significant effect on the dividend payout ratio.
 Keywords: Profitability, Ownership Structure, Company Growth, Dividend Policy

Earning Management of Corporate Social Responsibility Mediation and Corporate Governance on Financial Performance (An Empirical Study on Idx Mining Corporates 2016-2020)

This study aims to examine and analyze corporate social responsibility and corporate governance on financial performance and, through earning management as a mediating variable. Financial performance is the dependent variable which is proxied by ROA and MVA. The independent variables in this study were corporate social responsibility as proxied by 91 GRI 4.0 indicators and corporate governance as proxied by independent commissioners and institutional ownership. Earning management as a mediating variable proxied by discretionary accruals. This study uses a sample of 35 mining companies listed on the Indonesia Stock Exchange from 2016 to 2020. The data used in this study is secondary data analyzed using a multiple linear regression analysis path models with the help of SPSS 25 software, and corporate governance has a positive and significant effect on financial performance. Meanwhile, earning management has a negative and significant effect on financial performance. Corporate social responsibility has a positive and significant effect on earning management, while corporate governance has a negative and significant effect on earning management. Earning management mediates full corporate social responsibility on financial performance, while the board of commissioners partially mediates on financial performance.

Business model archetypes for data marketplaces in the automotive industry

Policymakers and analysts are heavily promoting data marketplaces to foster data trading between companies. Existing business model literature covers individually owned, multilateral data marketplaces. However, these particular types of data marketplaces hardly reach commercial exploitation. This paper develops business model archetypes for the full array of data marketplace types, ranging from private to independent ownership and from a hierarchical to a market orientation. Through exploratory interviews and case analyses, we create a business model taxonomy. Patterns in our taxonomy reveal four business model archetypes. We find that privately-owned data marketplaces with hierarchical orientation apply the aggregating data marketplace archetype. Consortium-owned data marketplaces apply the archetypes of aggregating data marketplace with additional brokering service and consulting data marketplace. Independently owned data marketplaces with market orientation apply the facilitating data marketplace archetype. Our results provide a basis for configurational theory that explains the performance of data marketplace business models. Our results also provide a basis for specifying boundary conditions for theory on data marketplace business models, as, for instance, the importance of network effects differs strongly between the archetypes.

Psychological Impact and Resilience among College Students in the Midst of Covid-19 Pandemic: A Review

Objectives: To assess the knowledge of mothers regarding the effect of usage of smartphones on children. To assess the practice of mothers regarding the effect of usage of smartphones on children. To associate selected Socio-demographic variables with knowledge of mothers regarding the effect of usage of smartphones on children. Methodology: Quantitative Nonexperimental research approach was used in the paediatric OPD setting at tertiary hospital at Lucknow and Non probability purposive sampling was used to collect data from 100 mothers of children aged 3-12 years. Result: Out of 100 samples 6% of mothers have poor knowledge, 66% have average knowledge and 28% have good knowledge.Out of 100 mothers only 8% allowed for the independent ownership of smartphone by children. 62% of mothers had laid down rules for usage of smartphone by children and 48% mothers permit usage and under supervision, 88% of mothers had installed phone lock. 12% mothers allow phone usage while charging, 24% allows usage of phone in dim light, 26% allow usage of phone for 15 minutes before sleeping and 4% of the mothers allowed children to carry mobiles to school. Conclusion: Smartphones have become part of daily life among all age groups and household. In spite of the rampant use of smartphones there is a lack of knowledge among mothers regarding the effects of smartphones on their children leading to harmful practices. So there is an urgent need to assess the knowledge and practice among the mothers so that appropriate steps can be taken to mitigate the harmful effects of smartphone usage by their children. Although majority of mothers are graduated, residing in urban area and are working in private firm they have only average knowledge regarding the effect of smartphone usage by their children. Keywords: knowledge and practice, mothers of children (3 to 12 years), usage of smartphone by children

Analisis Nilai Perusahaan Pada BUMN Sektor Infrastruktur

This study was conducted to determine whether Profitability, Dividend Policy, Institutional Ownership, Independent Material Ownership and Audit Quality influence Firm Value when measured using Price to Book Value (PBV). The population of this study is state-owned companies listed on the Indonesia Stock Exchange (IDX) in 2015-2019. The sample selection technique used is the purposive sampling method and obtained 7 companies that meet the criteria. The data analysis of this research uses panel data regression analysis with Eviews version 12 with a significance level of 5% where the best estimation model chosen is the Fixed Effect Model. The research has gone through the classical assumption test stage and the results obtained that there are no problems of multicollinearity and heteroscedasticity in the research data. The results of this study indicate that Profitability and Institutional Ownership have a positive and significant effect on firm value. The study also stated that the Independent Commissioner has a significant negative effect on firm value. Meanwhile, the dividend policy and audit quality do not affect firm value.

Pengaruh Corporate Governance Terhadap Manajemen Laba Dengan Ukuran Perusahaan Sebagai Variabel Moderasi

The purpose of this research is to obtain empirical evidence of board independence, board size, board meeting and institutional ownership on earnings management with firm size as moderating variable of manufacturing companies listed in the Indonesian Stock Exchange from 2017-2019. This research used purposive sampling method for a total of 76 companies’ data in 3 years. This research used E-Views 10 and Microsoft Excel 2019 for data processing. The results of this research showed that board independence, board meeting and institutional ownership negatively affect earning management whilst board size does not affect earnings management. Firm size as moderating variable has a positive effect of board independence and institutional ownership on earnings management.

The effect of financial and non-financial performance on investors’ reactions: The role of corporate governance mechanisms as moderating

The purpose of this study is to examine the effect of financial and non-financial performance on investor reactions and the role of corporate governance mechanisms as moderating. The analysis technique used is the moderated regression analysis (MRA). The research population is manufacturing sector companies listed on the Indonesia Stock Exchange (IDX). Based on the purposive sampling method, 78 companies were selected as the samples (390 firm-year observations). The results of this study provide empirical evidence that the existence of financial and non-financial performance in a company can increase investor reactions. Institutional ownership plays a role in the relationship between financial performance and investor reactions. Meanwhile, independent commissioners, boards of directors, and audit committees have no role in the relationship between financial performance and investor reactions. And independent commissioners and institutional ownership can moderate the influence of non-financial performance on investor reactions. Meanwhile, the board of directors and audit committee cannot moderate the influence of non-financial performance on investor reactions.

Influence of Independent Board Commissioner, Institutional Ownership, and Audit Committee on Tax Avoidance

This study aims to determine the effect of the Independent Board Commissioner, Institutional Ownership and Audit Committee on Tax Avoidance. This study uses quantitative research methods using statistical techniques by processing existing data to prove the proposed research hypothesis. In this case, the object of research is a mining company listed on the Indonesia Stock Exchange during the 2015-2019 period. Purposive sampling method for determining the sample with a population of 39 companies and a sample of 11 companies. The analytical method used is multiple regression analysis with SPSS version 25 program. Partially, the results show that the independent board commissioner and audit committee have no effect on tax avoidance. Meanwhile, institutional ownership has an effect on tax avoidance.

Faktor-Faktor Yang Memengaruhi Financial Performance Dengan Earning Management Sebagai Variabel Intervening

The purpose of this research is to examine the influence of independent commissioners, institutional ownership, audit quality, corporate social responsibility, and leverage toward financial performance with a mediating effect study from earning management in manufacturing companies listed in the Indonesian Stock Exchange in the period 2017-2019. The sample was determined by purposive sampling method and have 72 valid data. The research processed with path analysis using SmartPLS ver. 3.2.9. software. The result of this research shows that institutional ownership has positive effect on financial performance, while leverage has negative effect on financial performance, and independent commissioners, corporate social responsibility and earning management have no effect on financial performance. The result of this research also shows that earning management cannot mediate the influence of independent commissioners, institutional ownership, audit quality, and corporate social responsibility toward financial performance. The implication of this study is the need to increase good corporate governance, corporate social responsibility, and concern on factors in the firm that will increase the firm’s financial performance.

Faktor-Faktor Yang Memengaruhi Firm Value Dengan Firm Performance Sebagai Variabel Mediasi

The purpose of this research is to obtain empirical evidence about the effects of family ownership, independent commissioner, audit committee and institutional ownership on firm value using firm performance as a mediating variable. This research was conducted by taking 135 samples from manufacturing companies and listed in IDX from 2017-2019. The sample selection technique used is purposive sampling. SmartPLS 3.3.2 is used to analyze data. The result shows that independent commissioner, institutional ownership and firm performance has a significant effect on firm value while family ownership and audit committee has not significant effect on firm value. Besides, firm performance can mediate the effect of independent commissioner but can’t mediate the effect of family ownership, audit committee, and institutional ownership on firm value. The implication of this study is family ownership and audit committee must pay more attention in corporate governance to increase firm value which bring a good signal for investors.

The Influence of Corporate Governance Structures on Financial Distress: A Study of Coal Mining Companies

The purpose of this research was to analyze the effect of corporate governance mechanisms on financial distress, through the measurement of board of directors, board of commissioners, independent ownership structures and managerial ownership structures. The sample consisted of coal mining companies listed on the Indonesian Stock Exchange from 2013 to 2017 and a purposive sampling method was used. Data were analyzed using descriptive analysis and multiple linear regression. The results confirmed that the size of the board of commissioners and institutional ownership had no effect on conditions of financial distress. This was possible because the board of commissioners functions as supervisor in the company, but sometimes it did not carry out its role to its full potential. Meanwhile, institutional ownership was expected to encourage more optimal supervision of management performance so that agency costs could be minimized, but this could not be proven. The size of the board of directors had a significantly positive effect on finances distress. The size of the board of directors could indicate collusion in the company and thus the possibility of experiencing financial distress was greater. Managerial ownership had a significantly negative effect on conditions of financial distress. With an increase in ownership by managers, managers could immediately feel the benefits and losses of the decisions taken.
 Keywords: board size, the company’s health condition, corporate governance, financial distress, the Altman Z-Score, the number of boards.

MEKANISME TATA KELOLA PERUSAHAAN, PERSAINGAN PASAR PRODUK DAN KINERJA PERUSAHAAN

The board of directors represents the interests of shareholders and monitors management on a wide range of agency matters. Board independence remains an important aspect of board monitoring among regulators worldwide. Several theoretical studies investigate the effect of corporate governance and some effects of competition on firm performance but the aim of this study is to examine the effect of corporate governance mechanisms on firm performance and to examine the effect of interaction between corporate governance mechanisms and product market competition on firm performance. The population in this study are all companies listed on the Indonesia Stock Exchange in 2017-2019. The variables of corporate governance mechanisms used in this study are independent commissioners and managerial ownership and product market competition as moderating variables. The sampling method in this study was purposive sampling. The company criteria used are companies listed on the IDX in 2017-2019 except for the financial sector. There are 711 data that fall into the criteria. Multiple regression analysis and moderate regression analysis (MRA) were used as analysis techniques. The results showed that independent commissioners had no effect on company performance, while managerial ownership had a positive effect on company performance. The results of the interaction effect of corporate governance mechanisms and product market competition on company performance indicate that product market competition has a significant positive effect on the relationship between independent commissioners and company performance. Product market competition has a significant positive effect on the relationship between managerial ownership and company performance on company performance.
 Keywords: Firm Performance, Independent Commissioner, Managerial Ownership, Product Market Competition

Faktor-Faktor Yang Memengaruhi Firm Performance Perusahaan Manufaktur Yang Terdaftar Di BEI

This study aims to examine the effect of board independence, firm size, leverage, and managerial ownership on firm performance listed on the Indonesia Stock Exchange in the 2016-2018 period. Samples were selected using a simple sampling method collected by 72 companies. Data processing techniques using multiple regression analysis what is helped by the SPSS program (Statistical Product and Service Solution) for Windows released 25. Testing of existing hypotheses using multiple linear and IBM SPSS Statistics version 25 software in data management. The results of this study indicate that partially board independence, firm size, leverage have a significant effect on firm performance, while managerial ownership has no significant relationship on firm performance. But simultaneously, this study shows that board independence, firm size, leverage, and managerial ownership have a significant effect on firm performance.

Pengaruh Mediasi Dividend Payout Dalam Hubungan Internal Governance Terhadap Free Cash Flow

The purpose of this study is to obtain empirical evidence about the mediation effect of dividend payout on the relationship between internal governance and free cash flow on the manufacturing firms listed on the Indonesia Stock Exchange during 2016 – 2018 period. The research design used to test the direct and indirect effect of independent variables on the dependent variable through the mediating variable is a descriptive study with a purposive sampling method, amounted to 109 companies. Furthermore, the hypothesis testing is done by panel data regression model. For processing the data, this study used EViews 10 software. The results show that there are no significant effects on the impact of each board size, CEO duality, board independence, and managerial ownership to firm’s free cash flow, there’s a negative and significant effect on the impact of dividend payout on firm’s free cash flow, and there are no mediating effects of dividend payout on the impact of each board size, CEO duality, board independence, and managerial ownership to firm’s free cash flow.

PENGARUH PENGUNGKAPAN CSR DAN TATA KELOLA PERUSAHAAN TERHADAP NILAI PERUSAHAAN SEKTOR INDUSTRI SUB SEKTOR TEKSTIL DAN GARMEN

The purpose of this study was to determine the effect of Corporate Social Responsibility Disclosure and Good Corporate Governance on Firm Value in Various Industries Sector, Textile and Garment Sub-Sector Listed on the Indonesia Stock Exchange 2014-2019 Period. This research method uses a descriptive method with a quantitative approach. The source of this research uses secondary data sourced from the annual report of various sector companies in the textile and garment sub-sector listed on the Indonesia Stock Exchange. The sample of this study were 9 companies using purposive sampling technique. The results of this study indicate that partially the Corporate Social Responsibility Disclosure has a significant effect on Firm Value. Meanwhile, Good Corporate Governance with indicators (Managerial Ownership, Institutional Ownership, Independent Ownership and Audit Committee) Managerial Ownership and Audit Committee have a significant effect on Firm Value, while Institutinal Ownership and Independent Comissioner don’t have a significant effect on Firm Value.