PENGARUH BOARD DIVERSITY DAN KINERJA KEUANGAN TERHADAP NILAI PERUSAHAAN DALAM PERSPEKTIF CORPORATE GOVERNANCE

Abstract

This research aims to know the influence of board diversity and financial performance toward the company’s value in the perspective of corporate governance.  Board diversity in this research was measured by five variables, those are women role in the directors board, Tionghoa ethnical existence in the directors board, the proportion of outside directors, the age of board directors members and educational background of  board directors members.  While the financial performance was measured by Return on Assets (ROA), and the company’s value was measured by ratio of Tobins’ Q. In this research used 85 manufactures which fulfilled sample criteria listed on Indonesian Stock Exchange period of 2009 to 2011.

The result of this research showed that board diversity (proportion of outside directors and the age of the age of board directors members) have positive influence on the company’s value, while the women role in the directors board, Tionghoa ethnical existence in the directors board, and educational background of  board directors members and financial performance did not have significance influence on the company’s value.

Key words:  board diversity, financial performance, corporate governance, company’s value