Corporate Board And Firm Value Perspective Two-Tier Board System In Indonesia

This study aimed to investigate whether the effect of board commissioners and board of directors toward firm value at companies listed in Indonesia Stock Exchange. Secondary data is used and collected based on time series and cross section from 2010 until 2014 among 184 companies as unit observation. This study uses data panel regression analysis techniques with Generalized Least Square GLS. Chow test and Hausman test show that the model used as a fixed effect estimation technique. The results show simultaneously the board of commissioners and board directors have a significant effect on firm value. Furthermore partially the board of commissioners has a negative and significant effect toward firm value. The board of directors has a positive and significant effect toward the firm value.