The impact of managerial ownership, instutusional ownership, proportion of independent commisioner, intellectual capital on financial distress

I Kadek Widhiadnyana, Ni Made Dwi Ratnadi

Abstract


The purpose of this study was to obtain empirical evidence of the effect of managerial ownership, institutional ownership, the proportion of independent commissioner board, and intellectual capital on financial distress. The population of this research is all of manufacturing companies listed on Indonesian Stock Exchange (IDX) on 2014-2016. The sampling method is non-probability sampling with a saturated sample technique. The numbers of samples analyzed were 423 financial reports of manufacturing companies published on IDX during 2014--2016. The analysis technique used in this research is multinomial logistic regression. Based on the results of the analysis found that managerial ownership have a negative effect on financial distress, institutional ownership have a negative effect on financial distress, proportion of independent commissioner have a positive effect on financial distress, and intellectual capital have a negative effect on financial distress.


Keywords


managerial ownership, institutional ownership, proportion of independent commissioner, intellectual capital, financial distress



DOI: http://dx.doi.org/10.14414/jebav.v21i3.1233

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