A Study on the Existence Woman Board of Commissioners, Family Business, and Firm Performance
Nanik Ermawati

Airlangga University Surabaya

Abstract

Purpose : The primary goal of this study is to look at the impact of having a woman board of commissioners (WBoC) on firm performance (FP). Additionally, this research looks at the moderating effect of family business (FB) on the impact of having WBoC on FP.

Design/methodology/approach : From 2017 through 2021, this research employed unbalanced panel data with a sample of all businesses registered on the Indonesia Stock Exchange. This research used a total of 1,957 observations. The data was analyzed using moderated regression analysis using panel data.

Findings : The findings of the tests revealed that WBoC had a lower impact on Tobins^Q (TQ) and ROA. Empirical research suggests that FB strengthen WBoC by lowering ROA and TQ.

Originality : Moreover, it is critical to understand how FB help women establish leadership, obtain recognition, achieve agency, and be empowered.
Research limitations/implications : In Indonesia, the minimal share of female commissioners was just 13% on average.

Practical implications : This study also serves as a guidance for shareholders in selecting a competent female board of directors to drive corporate success.

Keywords: the existence woman board of commissioners, family business, return on assets (ROA), tobins^q (TQ), firm performance (FP), Indonesia Stock Exchange

Topic: Corporate governance