Effect Of Gender, Educational Background, And Age of The CEO on Funding Policies and Investment Policies in Manufacturing Companies Listed on The Indonesia Stock Exchange During 2013-2017

Authors

  • Achmad Galang Santoso State University of Surabaya
  • Lintang Venusita State University of Surabaya

DOI:

https://doi.org/10.59889/ijembis.v2i2.65

Keywords:

Gender, Educational Background, Age of CEO, Investment Policies, Funding Policies

Abstract

This research aims to determine the influence of gender, educational background, and age of the CEO on funding policies and investment policies in manufacturing companies listed on the Indonesia Stock Exchange. Population and sample research are manufacturing companies that publish annual reports on the Indonesia Stock Exchange from 2013 to 2017. The sample used is 105 samples. The statistical method used is linear regression analysis with the help of SPSS. Results of the study prove that the CEO's background does not affect funding policies and investment policies. CEO age has a negative effect on funding policy but does not affect investment policy. CEO gender has a negative impact on funding and investment policies.

Downloads

Download data is not yet available.

References

Adams, R. B., & Funk, P. (2012). Beyond the Glass Ceiling: Does Gender Matter?, 58(2), 219–235.

Aliani, K. (2014). CEO characteristics and corporate tax planning evidence from US companies Khaoula Aliani. International Journal Managerial and Financial Accounting, 6(1).

Beber, A., & Fabbri, D. (2012). Who times the foreign exchange market? Corporate speculation and CEO characteristics ?. Journal of Corporate Finance, 18(5), 1065–1087. https://doi.org/10.1016/j.jcorpfin.2012.07.004

Breadly, M., & Marcus. (2008). Dasar-dasar Manajemen Keuangan Perusahaan (Jilid 1). Jakarta: Erlangga.

Cline, B. N., & Yore, A. (2015). SC. Journal of Empirical Finance. https://doi.org/10.1016/j.jempfin.2015.11.002

Copeland. (2010). Dasar–Dasar Manajemen Keuangan Jilid II. Jakarta: Erlangga.

Custódio, C., & Metzger, D. (2014). Financial expert CEOs: CEO's work experience and firm's financial policies $. Journal of Financial Economics, 114(1), 125–154. https://doi.org/10.1016/j.jfineco.2014.06.002

Donkers, B. A. S., Melenberg, B., & Soest, A. V. A. N. (2001). Estimating Risk Attitudes using Lotteries: A Large Sample Approach, 165–195.

Eagly, A. (2000). Social Role Theory of Sex differences and similarities.

Faccio, M., Marchica, M. T., & Mura, R. (2016). CEO gender, corporate risk-taking, and the efficiency of capital allocation. Journal of Corporate Finance, 39, 193–209. https://doi.org/10.1016/j.jcorpfin.2016.02.008

Feist, J., & Gregory, F. (2010). Teori Kepribadian (Buku 2). Jakarta: Salemba Humanika.

Ferris, S. P., Javakhadze, D., & Rajkovic, T. (2017). CEO social capital, risk-taking and corporate policies. Journal of Corporate Finance, 47, 46–71. https://doi.org/10.1016/j.jcorpfin.2017.09.003

Franke, G. (1997). Gender Differences in Ethical Perceptions of bussines practices?: a social role theory perspective.

Hambrick, D. C. (1996). Strategic leadership: Top executives and their effects on organizations. St. Paul. West Educational Publishing.

Huang, J., & Kisgen, D. J. (2013). Gender and corporate finance?: Are male executives overconfident relative to female executives?? $. Journal of Financial Economics, 108(3), 822–839. https://doi.org/10.1016/j.jfineco.2012.12.005

King, T., Srivastav, A., & Williams, J. (2016). What' s in an education?? Implications of CEO education for bank performance. Journal of Corporate Finance, 44. https://doi.org/10.1016/j.jcorpfin.2016.01.003

Meggison, W. . (1997). Capital Finance Theory. Addison-Wesley.

Serfling, M. A. (2014). CEO age and the riskiness of corporate policies. Journal of Corporate Finance, 25, 251–273. https://doi.org/10.1016/j.jcorpfin.2013.12.013

Downloads

Published

2022-05-28

How to Cite

Achmad Galang Santoso, & Venusita, L. . (2022). Effect Of Gender, Educational Background, And Age of The CEO on Funding Policies and Investment Policies in Manufacturing Companies Listed on The Indonesia Stock Exchange During 2013-2017. INTERNATIONAL JOURNAL OF ECONOMICS, MANAGEMENT, BUSINESS, AND SOCIAL SCIENCE (IJEMBIS), 2(2), 249–258. https://doi.org/10.59889/ijembis.v2i2.65

Issue

Section

Articles