Title: ESOP, PRODUCTIVITY AND PERFORMANCE IN NON-FINANCIAL COMPANIES ON THE INDONESIAN STOCK EXCHANGE PERIOD 2000-2010
Author: YUYUN ISBANAH
Affiliations : Master of Management Science Program, Faculty of Economics and Business, Universitas Airlangga , Surabaya, Indonesia
Publisher: Universitas Airlangga
Abstract
This research aims to examine the influence of the ESOP variable on company performance by using productivity as an intervening variable in non-financial companies on the Indonesia Stock Exchange. The samples used in this research were companies that implemented ESOP for the 2000-2010 period. In this research, company performance is measured using return on assets, return on equity and Tobin's Q, while productivity is measured using the indicators sales per employee, cash flow per employee, and total assets turnover. The analysis method uses Partial Least Square (PLS). The results of hypothesis testing show that the ESOP variable has a significant positive influence on productivity. Productivity also has a significant positive influence on performance. In this research, there is no direct influence between ESOP on performance, but there is an indirect influence between ESOP on performance by using productivity as an intervening variable.
Keywords: ESOP, Productivity, Performance
