Title: FAMILY OWNERSHIP, COMPANY LIFE CYCLE AND FUNDING POLICY
Author: EUREKA TRY ZARAZWANTY RL
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 research aims to examine the influence of family ownership, founder CEO and descendant CEO on funding policy and the influence of family ownership on funding policy which is moderated by the company's life cycle. Funding policy is proxied by the Long-term debt to equity ratio (LDER). This research also uses profitability and tangibility as control variables. This research uses three regression models. The first and third regression models use a sample of 30 non-financial family companies listed on the IDX for the 2007-2014 period. The second regression model uses a sample of 16 non-financial family companies listed on the IDX for the 2007-2014 period. The research method used was purposive sampling with multiple linear regression analysis techniques. The research results show that family ownership, descendant CEO, company life cycle and profitability have a significant negative effect on LDER, tangibility has a significant positive effect on LDER, while founder CEO has no significant effect on LDER and the company life cycle does not moderate the effect of family ownership on LDER. Keywords: Family Ownership, founder CEO, descendant CEO, Company Life Cycle, Profitability and Tangibility.
Keywords: Family Ownership, founder CEO, descendant CEO, Company Life Cycle, Profitability and Tangibility.
