How to cite this paper
Arifai, M., Tran, A., Moslehpour, M & Wong, W. (2018). Two-tier board system and Indonesian family owned firms performance.Management Science Letters , 8(7), 737-754.
Refrences
Abidin, Z. Z., Kamal, N. M., & Jusoff, K. (2009). Board structure and corporate performance in Malay-sia. International Journal of Economics and Finance, 1(1), 150.
Adams, R., Almeida, H., & Ferreira, D. (2009). Understanding the relationship between founder–CEOs and firm performance. Journal of Empirical Finance, 16(1), 136-150.
Adhami, S., & Asgari, M. (2013). Block share ownership and corporate earning: Evidence from Tehran Stock Exchange. Management Science Letters, 3(1), 129-134.
Alizadeh, R., Chashmi, S., & Bahnamiri, A. (2014). Corporate governance and intellectual capi-tal. Management Science Letters, 4(1), 181-186.
Allouche, J., Amann, B., Jaussaud, J., & Kurashina, T. (2008). The impact of family control on the per-formance and financial characteristics of family versus nonfamily businesses in Japan: a matched‐pair investigation. Family Business Review, 21(4), 315-329.
Anderson, R. C., & Reeb, D. M. (2003). Founding‐family ownership and firm performance: evidence from the S&P 500. The journal of finance, 58(3), 1301-1328.
Andres, C. (2008). Large shareholders and firm performance—An empirical examination of founding-family ownership. Journal of Corporate Finance, 14(4), 431-445.
Barth, E., Gulbrandsen, T., & Schønea, P. (2005). Family ownership and productivity: The role of own-er-management. Journal of Corporate Finance, 11(1-2), 107-127.
Bezemer, P. J., Maassen, G. F., Van den Bosch, F. A., & Volberda, H. W. (2007). Investigating the Development of the Internal and External Service Tasks of Non‐executive Directors: the case of the Netherlands (1997–2005). Corporate Governance: An International Review, 15(6), 1119-1129.
Bezemer, P. J., Peij, S. C., Maassen, G. F., & van Halder, H. (2012). The changing role of the superviso-ry board chairman: the case of the Netherlands (1997–2007). Journal of Management & Govern-ance, 16(1), 37-55.
Bharathi, K. G. (2010). The intellectual capital performance of banking sector in Pakistan. Pakistan Journal of Commerce & Social Sciences, 4(1).
Burkart, M., Panunzi, F., & Shleifer, A. (2003). Family firms. The Journal of Finance, 58(5), 2167-2201.
Cronqvist, H., & Nilsson, M. (2003). Agency costs of controlling minority shareholders. Journal of Fi-nancial and Quantitative Analysis, 38(4), 695-719.
Dahya, J., Karbhari, Y., Xiao, J. Z., & Yang, M. (2003). The usefulness of the supervisory board report in China. Corporate Governance: An International Review, 11(4), 308-321.
DeAngelo, H., & DeAngelo, L. (2000). Controlling stockholders and the disciplinary role of corporate payout policy: A study of the Times Mirror Company. Journal of Financial Economics, 56(2), 153-207.
Driffield, N., Mahambare, V., & Pal, S. (2007). How does ownership structure affect capital structure and firm value? Recent evidence from East Asia. Economics of Transition, 15(3), 535-573.
Firth, M., Fung, P. M., & Rui, O. M. (2007). Ownership, two-tier board structure, and the informative-ness of earnings–Evidence from China. Journal of Accounting and Public Policy, 26(4), 463-496.
GBG Indonesia (2016). Family Matters – A Guide to Family-Owned Businesses in Indonesia. Re-trieved from http://www.gbgindonesia.com/en/main/why_indonesia/2016/family_matters_a_guide_to_family_owned_businesses_in_indonesia_11459.php
Giovannini, R. (2010). Corporate governance, family ownership and performance. Journal of Manage-ment & Governance, 14(2), 145-166.
Han, A. Y., & Naughton, T. (2001). The impact of family ownership on firm value and earnings quality: Evidence from Korea. Working paper, RMIT University, Australia.
Hanazaki, M., & Liu, Q. (2007). Corporate governance and investment in East Asian firms—empirical analysis of family-controlled firms. Journal of Asian Economics, 18(1), 76-97.
Ho, C. A., & Williams, S. M. (2003). International comparative analysis of the association between board structure and the efficiency of value added by a firm from its physical capital and intellectual capital resources. The International Journal of Accounting, 38(4), 465-491.
Jaggi, B., & Leung, S. (2007). Impact of family dominance on monitoring of earnings management by audit committees: Evidence from Hong Kong. Journal of International Accounting, Auditing and Taxation, 16(1), 27-50.
Kamal, M. (2010). Corporate governance and state-owned enterprises: a study of Indonesia's code of corporate governance. Journal of International Commercial Law and Technology, 5, 206.
Kim, E. (2006). The impact of family ownership and capital structures on productivity performance of Korean manufacturing firms: Corporate governance and the “chaebol problem”. Journal of the Japa-nese and International Economies, 20(2), 209-233.
King, M. R., & Santor, E. (2008). Family values: Ownership structure, performance and capital struc-ture of Canadian firms. Journal of Banking & Finance, 32(11), 2423-2432.
Khan, A., Tanveer, S., & Malik, U. (2017). An empirical analysis of corporate governance and firm val-ue: Evidence from KSE-100 Index. Accounting, 3, 119-130.
Lee, J. (2006). Family firm performance: Further evidence. Family Business Review, 19(2), 103-114.
Lukviarman, N. (2004). Ownership structure and firm performance: the case of Indonesia (Doctoral dis-sertation, Curtin University).
Mäntysaari, P. (2005). Comparative corporate governance: shareholders as a rule-maker. Springer Sci-ence & Business Media.
Maury, B. (2006). Family ownership and firm performance: Empirical evidence from Western European corporations. Journal of Corporate Finance, 12(2), 321-341.
Millet‐Reyes, B., & Zhao, R. (2010). A comparison between one‐tier and two‐tier board structures in France. Journal of International Financial Management & Accounting, 21(3), 279-310.
Mohid Rahmat, M., Mohd Iskandar, T., & Mohd Saleh, N. (2009). Audit committee characteristics in financially distressed and non-distressed companies. Managerial Auditing Journal, 24(7), 624-638.
O'Boyle Jr, E. H., Pollack, J. M., & Rutherford, M. W. (2012). Exploring the relation between family involvement and firms' financial performance: A meta-analysis of main and moderator ef-fects. Journal of Business Venturing, 27(1), 1-18.
Prabowo, M. A., & Simpson, J. (2009). Combined leadership in a two-tier system? Board structure, family control and firm performance of Indonesian listed firms. Curtin Business School. Curtin Uni-versity of Technology. Perth Western Australia.
Pulic, A. (1998, January). Measuring the performance of intellectual potential in knowledge economy. In 2nd McMaster Word Congress on Measuring and Managing Intellectual Capital by the Austrian Team for Intellectual Potential.
Rusmin, R., Tower, G., Achmad, T., & Neilson, J. (2011). Concentrated family ownership structures weakening corporate governance: A developing country story. Corporate Ownership & Control, 18, 94-105.
Sacristán-Navarro, M., Gómez-Ansón, S., & Cabeza-García, L. (2011). Family ownership and control, the presence of other large shareholders, and firm performance: Further evidence. Family Business Review, 24(1), 71-93.
Saito, T. (2008). Family firms and firm performance: Evidence from Japan. Journal of the Japanese and International Economies, 22(4), 620-646.
Sharma, P. (2004). An overview of the field of family business studies: Current status and directions for the future. Family Business Review, 17(1), 1-36.
Siregar, S. V., & Utama, S. (2008). Type of earnings management and the effect of ownership struc-ture, firm size, and corporate-governance practices: Evidence from Indonesia. The international journal of accounting, 43(1), 1-27.
Sundaramurthy, C., & Lewis, M. (2003). Control and collaboration: Paradoxes of governance. Academy of Management Review, 28(3), 397-415.
Villalonga, B., & Amit, R. (2006). How do family ownership, control and management affect firm val-ue?. Journal of financial Economics, 80(2), 385-417.
Yeh, C. M., Taylor, T., & Hoye, R. (2009). Board roles in organisations with a dual board system: Empiri-cal evidence from Taiwanese nonprofit sport organisations. Sport Management Review, 12(2), 91-100.
Yie Ke, F., & Liantina, S. (2016, March). The role of cooperate governance in family control firms: evi-dence from Indonesia. In The 13th UBAYA International Annual Symposium on Management (pp. 499-509). Department of Management Faculty of Business and Economics Universitas Surabaya and University of Social Sciences and Humanities, Vietnam national University Ho Chi Minh City Vi-etnam.
Zeghal, D., & Maaloul, A. (2010). Analysing value added as an indicator of intellectual capital and its consequences on company performance. Journal of Intellectual capital, 11(1), 39-60.
Zhao, R., & Millet‐Reyes, B. (2007). Ownership structure and accounting information content: Evi-dence from France. Journal of International Financial Management & Accounting, 18(3), 223-246.
Adams, R., Almeida, H., & Ferreira, D. (2009). Understanding the relationship between founder–CEOs and firm performance. Journal of Empirical Finance, 16(1), 136-150.
Adhami, S., & Asgari, M. (2013). Block share ownership and corporate earning: Evidence from Tehran Stock Exchange. Management Science Letters, 3(1), 129-134.
Alizadeh, R., Chashmi, S., & Bahnamiri, A. (2014). Corporate governance and intellectual capi-tal. Management Science Letters, 4(1), 181-186.
Allouche, J., Amann, B., Jaussaud, J., & Kurashina, T. (2008). The impact of family control on the per-formance and financial characteristics of family versus nonfamily businesses in Japan: a matched‐pair investigation. Family Business Review, 21(4), 315-329.
Anderson, R. C., & Reeb, D. M. (2003). Founding‐family ownership and firm performance: evidence from the S&P 500. The journal of finance, 58(3), 1301-1328.
Andres, C. (2008). Large shareholders and firm performance—An empirical examination of founding-family ownership. Journal of Corporate Finance, 14(4), 431-445.
Barth, E., Gulbrandsen, T., & Schønea, P. (2005). Family ownership and productivity: The role of own-er-management. Journal of Corporate Finance, 11(1-2), 107-127.
Bezemer, P. J., Maassen, G. F., Van den Bosch, F. A., & Volberda, H. W. (2007). Investigating the Development of the Internal and External Service Tasks of Non‐executive Directors: the case of the Netherlands (1997–2005). Corporate Governance: An International Review, 15(6), 1119-1129.
Bezemer, P. J., Peij, S. C., Maassen, G. F., & van Halder, H. (2012). The changing role of the superviso-ry board chairman: the case of the Netherlands (1997–2007). Journal of Management & Govern-ance, 16(1), 37-55.
Bharathi, K. G. (2010). The intellectual capital performance of banking sector in Pakistan. Pakistan Journal of Commerce & Social Sciences, 4(1).
Burkart, M., Panunzi, F., & Shleifer, A. (2003). Family firms. The Journal of Finance, 58(5), 2167-2201.
Cronqvist, H., & Nilsson, M. (2003). Agency costs of controlling minority shareholders. Journal of Fi-nancial and Quantitative Analysis, 38(4), 695-719.
Dahya, J., Karbhari, Y., Xiao, J. Z., & Yang, M. (2003). The usefulness of the supervisory board report in China. Corporate Governance: An International Review, 11(4), 308-321.
DeAngelo, H., & DeAngelo, L. (2000). Controlling stockholders and the disciplinary role of corporate payout policy: A study of the Times Mirror Company. Journal of Financial Economics, 56(2), 153-207.
Driffield, N., Mahambare, V., & Pal, S. (2007). How does ownership structure affect capital structure and firm value? Recent evidence from East Asia. Economics of Transition, 15(3), 535-573.
Firth, M., Fung, P. M., & Rui, O. M. (2007). Ownership, two-tier board structure, and the informative-ness of earnings–Evidence from China. Journal of Accounting and Public Policy, 26(4), 463-496.
GBG Indonesia (2016). Family Matters – A Guide to Family-Owned Businesses in Indonesia. Re-trieved from http://www.gbgindonesia.com/en/main/why_indonesia/2016/family_matters_a_guide_to_family_owned_businesses_in_indonesia_11459.php
Giovannini, R. (2010). Corporate governance, family ownership and performance. Journal of Manage-ment & Governance, 14(2), 145-166.
Han, A. Y., & Naughton, T. (2001). The impact of family ownership on firm value and earnings quality: Evidence from Korea. Working paper, RMIT University, Australia.
Hanazaki, M., & Liu, Q. (2007). Corporate governance and investment in East Asian firms—empirical analysis of family-controlled firms. Journal of Asian Economics, 18(1), 76-97.
Ho, C. A., & Williams, S. M. (2003). International comparative analysis of the association between board structure and the efficiency of value added by a firm from its physical capital and intellectual capital resources. The International Journal of Accounting, 38(4), 465-491.
Jaggi, B., & Leung, S. (2007). Impact of family dominance on monitoring of earnings management by audit committees: Evidence from Hong Kong. Journal of International Accounting, Auditing and Taxation, 16(1), 27-50.
Kamal, M. (2010). Corporate governance and state-owned enterprises: a study of Indonesia's code of corporate governance. Journal of International Commercial Law and Technology, 5, 206.
Kim, E. (2006). The impact of family ownership and capital structures on productivity performance of Korean manufacturing firms: Corporate governance and the “chaebol problem”. Journal of the Japa-nese and International Economies, 20(2), 209-233.
King, M. R., & Santor, E. (2008). Family values: Ownership structure, performance and capital struc-ture of Canadian firms. Journal of Banking & Finance, 32(11), 2423-2432.
Khan, A., Tanveer, S., & Malik, U. (2017). An empirical analysis of corporate governance and firm val-ue: Evidence from KSE-100 Index. Accounting, 3, 119-130.
Lee, J. (2006). Family firm performance: Further evidence. Family Business Review, 19(2), 103-114.
Lukviarman, N. (2004). Ownership structure and firm performance: the case of Indonesia (Doctoral dis-sertation, Curtin University).
Mäntysaari, P. (2005). Comparative corporate governance: shareholders as a rule-maker. Springer Sci-ence & Business Media.
Maury, B. (2006). Family ownership and firm performance: Empirical evidence from Western European corporations. Journal of Corporate Finance, 12(2), 321-341.
Millet‐Reyes, B., & Zhao, R. (2010). A comparison between one‐tier and two‐tier board structures in France. Journal of International Financial Management & Accounting, 21(3), 279-310.
Mohid Rahmat, M., Mohd Iskandar, T., & Mohd Saleh, N. (2009). Audit committee characteristics in financially distressed and non-distressed companies. Managerial Auditing Journal, 24(7), 624-638.
O'Boyle Jr, E. H., Pollack, J. M., & Rutherford, M. W. (2012). Exploring the relation between family involvement and firms' financial performance: A meta-analysis of main and moderator ef-fects. Journal of Business Venturing, 27(1), 1-18.
Prabowo, M. A., & Simpson, J. (2009). Combined leadership in a two-tier system? Board structure, family control and firm performance of Indonesian listed firms. Curtin Business School. Curtin Uni-versity of Technology. Perth Western Australia.
Pulic, A. (1998, January). Measuring the performance of intellectual potential in knowledge economy. In 2nd McMaster Word Congress on Measuring and Managing Intellectual Capital by the Austrian Team for Intellectual Potential.
Rusmin, R., Tower, G., Achmad, T., & Neilson, J. (2011). Concentrated family ownership structures weakening corporate governance: A developing country story. Corporate Ownership & Control, 18, 94-105.
Sacristán-Navarro, M., Gómez-Ansón, S., & Cabeza-García, L. (2011). Family ownership and control, the presence of other large shareholders, and firm performance: Further evidence. Family Business Review, 24(1), 71-93.
Saito, T. (2008). Family firms and firm performance: Evidence from Japan. Journal of the Japanese and International Economies, 22(4), 620-646.
Sharma, P. (2004). An overview of the field of family business studies: Current status and directions for the future. Family Business Review, 17(1), 1-36.
Siregar, S. V., & Utama, S. (2008). Type of earnings management and the effect of ownership struc-ture, firm size, and corporate-governance practices: Evidence from Indonesia. The international journal of accounting, 43(1), 1-27.
Sundaramurthy, C., & Lewis, M. (2003). Control and collaboration: Paradoxes of governance. Academy of Management Review, 28(3), 397-415.
Villalonga, B., & Amit, R. (2006). How do family ownership, control and management affect firm val-ue?. Journal of financial Economics, 80(2), 385-417.
Yeh, C. M., Taylor, T., & Hoye, R. (2009). Board roles in organisations with a dual board system: Empiri-cal evidence from Taiwanese nonprofit sport organisations. Sport Management Review, 12(2), 91-100.
Yie Ke, F., & Liantina, S. (2016, March). The role of cooperate governance in family control firms: evi-dence from Indonesia. In The 13th UBAYA International Annual Symposium on Management (pp. 499-509). Department of Management Faculty of Business and Economics Universitas Surabaya and University of Social Sciences and Humanities, Vietnam national University Ho Chi Minh City Vi-etnam.
Zeghal, D., & Maaloul, A. (2010). Analysing value added as an indicator of intellectual capital and its consequences on company performance. Journal of Intellectual capital, 11(1), 39-60.
Zhao, R., & Millet‐Reyes, B. (2007). Ownership structure and accounting information content: Evi-dence from France. Journal of International Financial Management & Accounting, 18(3), 223-246.