Title: CEO CHARACTERISTICS, COMPANY POLICY AND COMPANY PERFORMANCE

Authors: LILA GESTATI

Item Type : Thesis (Thesis)

Affiliations: Master of Management Science Study Program, Faculty of Economics and Business, Universitas Airlangga , Surabaya, Indonesia

Publisher: Universitas Airlangga

Abstract

This study aims to determine the effect of CEO characteristics (female gender, master's degree in business, and CEO age) on funding policy (interest-bearing debt to total assets), investment policy (capital expenditure), and company performance (return on assets) controlled by firm size and firm age. This study uses data from manufacturing companies listed on the Indonesia Stock Exchange during 2010-2017. The results of this study indicate that CEO characteristics (female gender, master's degree in business, and CEO age) and firm age have a significant negative effect on funding policy (interest-bearing debt to total assets), firm size has a significant positive effect on funding policy (interest-bearing debt to total assets). Master's degree in business and size have a significant positive effect on investment policy (capital expenditure). Female CEO, CEO age, and firm age do not have a significant effect on investment policy (capital expenditure). Female CEO, master's degree in business, firm size, and firm age have a significant positive effect on company performance (return on assets). CEO age does not have a significant effect on company performance (return on assets).

Keywords: Female CEO, Master of Business Education, CEO Age, Interest-Bearing Debt to Total Assets, Capital Expenditure, Return on Assets.

Sources: http://repository.unair.ac.id/76829/