Covermanagerial And Institutional Ownership The Differences Of Agency Cost Level And Firm Performances
Abstract
This study is about an institutional and managerial ownership and focuses
on analyzing the difference of agency cost and firm performance in companies
with institutional and managerial ownership. This study is aimed to examine the
influence of the existence of institutional and managerial ownership in agency
cost and firm performances aspects.
The data collection used by the researcher is the purposive sampling
method with the samples manufacturing companies listed in Indonesia Stock
Exchange in 2006 -2010 which are 47 manufacturing companies with institutional
ownership and 39 manufacturing companies with managerial ownership.
The results of this study indicated that there are significant differences of
expense ratio and firm values between manufacturing companies with institutional
and managerial ownerships. While variables that did not show the significant
differences in companies with institutional and managerial ownership are asset
utilization ratio, ROE, ROA, and stock return.
Key words: Manufacturing Companies, Managerial Ownership, Institutional
Ownership, Agency Cost, Firm Performances
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