Determinants of Financial Performance of State-Owned Enterprises in Indonesia and Thailand

The purpose of this study is to analyze and present empirical data on the effects of institutional ownership, a board of independent commissioners, a board of directors, an audit committee, and managerial ownership on the financial performance of state-owned companies in Indonesia and Thailand that...

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Bibliographic Details
Published in:Indonesian Interdisciplinary Journal of Sharia Economics 2023-08, Vol.6 (3)
Main Authors: Prihasantyo Siswo Nugroho, Hasan Abdul Rozak, Rahul Bhandari, Mohamad Saufi Che Rusli, Prattana Srisuk, Sinta Ratna Pratiwi
Format: Article
Language:English
Subjects:
Institutional Ownership, Independent Board, Audit Committee, Managerial Ownership, Financial Performance
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Summary:The purpose of this study is to analyze and present empirical data on the effects of institutional ownership, a board of independent commissioners, a board of directors, an audit committee, and managerial ownership on the financial performance of state-owned companies in Indonesia and Thailand that are listed on the Indonesia Stock Exchange (IDX) and the Stock Exchange of Thailand (SET) from 2014 to 2021. Purposive sampling was used to gather 120 samples for the study, including 32 samples in Thailand and 120 samples in Indonesia. The data analysis technique used in this study is multiple regression analysis. The results of this study show that institutional ownership harms the financial performance of state-owned businesses in Thailand and Indonesia, the audit committee has a positive effect on that performance, and the board of directors hurts that performance.
ISSN:2621-606X
DOI:10.31538/iijse.v6i3.5526