The Influence of Board of Directors and Independent Commissioners on Firm Value in the Technology Sector Listed on the IDX, 2021–2023
Keywords:
Board of Directors; Firm Value; Independent Commissioners; Indonesia Stock Exchange; Technology Sector.Abstract
This study aims to analyze the effect of the board of directors and the proportion of independent commissioners on firm value in technology sector companies listed on the Indonesia Stock Exchange (IDX) from 2021 to 2023. Motivated by the dynamic nature of the technology industry, where rapid market shifts challenge conventional governance frameworks, the research employs a quantitative approach using audited annual financial statements and company reports. Board size and independent commissioner proportion serve as independent variables, while firm value is measured through Tobin’s Q ratio. Analytical methods include multiple linear regression and classical assumption testing. The findings demonstrate that neither board size nor the proportion of independent commissioners significantly affects firm value. This suggests that traditional corporate governance mechanisms may be insufficient to shape market perceptions within innovation-driven sectors. Accordingly, the study advocates for more adaptive and context-specific governance practices to foster long-term value creation in technology firms.
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