Iman Harymawan, - and Mohammad Nasih, - and Melinda Cahyaning Ratri, - and John Nowland, - (2019) CEO busyness and firm performance: evidence from Indonesia. Heliyon, 5 (5). pp. 1-9. ISSN 2405-8440

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Abstract

This study investigates whether busy CEOs are associated with lower firm performance, and if this relationship is moderated by firm growth, CEO tenure and corporate governance practices in Indonesia. This study uses 876 firms-year observations from 268 firms listed on the Indonesia Stock Exchange (IDX) for the period spanning 2014 to 2017. We find that busy CEOs are associated with lower firm performance. This negative relationship is stronger in firms with high growth and when busy CEOs have shorter tenure. We also show that corporate governance practices have no impact on the negative relationship between CEO busyness and firm performance. For firms and shareholders, our findings indicate that it is not a good idea for CEOs to hold two or more outside directorships, particularly in the early years of taking up their CEO position. Our results suggest that restrictions on CEO busyness would be beneficial to shareholders.

Item Type:	Article
Uncontrolled Keywords:	Business, Economics
Subjects:	H Social Sciences > HB Economic Theory H Social Sciences > HF Commerce > HF5001-6182 Business H Social Sciences > HG Finance > HG4501-6051 Investment, capital formation, speculation > HG4551-4598 Stock exchanges
Divisions:	04. Fakultas Ekonomi dan Bisnis > Akuntansi
Creators:	Creators NIM Iman Harymawan, - NIDN0020048403 Mohammad Nasih, - NIDN0006086503 Melinda Cahyaning Ratri, - NIM041411331034 John Nowland, - UNSPECIFIED
Depositing User:	Tn Sugeng Riyanto
Date Deposited:	11 Oct 2020 13:08
Last Modified:	16 Jun 2023 03:45
URI:	http://repository.unair.ac.id/id/eprint/99798
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