Management’s Chinese Zodiac and Ownership to Firm Performance

Advances in Social Science, Education and Humanities Research (ASSEHR), volume 186 15th International Symposium on Management (INSYMA 2018)

4 Pages Posted: 26 Apr 2019

See all articles by Rico Tedyono

Rico Tedyono

Master of Management

Putu Anom Mahadwartha

Faculty of Business and Economics, Universitas Surabaya

Date Written: March 5, 2018

Abstract

The research examines the effect of Chinese Astrology (shio) and managerial ownership on firm’s performance. The research also examines other issue of agency problem which is called managerial ownership. The separation between the principal with ownership function and agent with control function leads to a potential conflict called agency conflict. Sample is manufacturing firms listed in Indonesia Stock Exchange for the period of 2013-2015. The results of this study indicate that Chinese Zodiac of the CEOs have no effect on the company's performance, while managerial ownership positively affects the company's performance. Financial ratios used to measure company's performance are profitability ratios, such as Return on Assets (ROA) as the main parameter and Return on Equity (ROE) as supporting parameter or robustness with no significant effect which aims to confirm the effect of managerial ownership on the company's performance.

Keywords: Chinese Astrology, Managerial Ownership, Firm’s Performance

JEL Classification: G32, G39, G41

Suggested Citation

Tedyono, Rico and Mahadwartha, Putu Anom, Management’s Chinese Zodiac and Ownership to Firm Performance (March 5, 2018). Advances in Social Science, Education and Humanities Research (ASSEHR), volume 186 15th International Symposium on Management (INSYMA 2018), Available at SSRN: https://ssrn.com/abstract=3360824

Rico Tedyono

Master of Management ( email )

Jl. Ngagel Jaya Selatan 169
Surabaya, Jawa Timur 60284
Indonesia

Putu Anom Mahadwartha (Contact Author)

Faculty of Business and Economics, Universitas Surabaya ( email )

Raya Kalirungkut
Tenggilis
Surabaya, ID East Java 60293
Indonesia
+62312981139 (Phone)
+62312981239 (Fax)

HOME PAGE: http://fbe.ubaya.ac.id

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