CD Disertasi
pengaruh karakteristik ceo terhadap nilai perusahaan dengan digitalisasi sebagai mediasi
The company was founded with the aim of improving the welfare of shareholders. Shareholder welfare can be achieved by increasing company value. One effort to increase company value is the need for policies and management in managing the company carried out by the top executives or highest leaders of the company who are usually known as the Chief Executive Officer (CEO).
This study aims to analyze and examine the Influence of CEO Characteristics on Firm Value Through Digitalization as Mediating Variable. This study is a quantitative study using analysis with Structural Equation Modeling-Partial Least Square (SEM-PLS) with the help of the Warp PLS 7.0 test tool. The number of samples used was 20 companies included in the LQ45 index listed on the IDX 2019-2023, the measurements used on CEO characteristics proxied by CEO education, CEO gender, CEO tenure, and CEO age, on Firm Value (Tobin's Q) Through Digitalization as Mediating Variable (DT).
The results of the study show that CEO education and CEO gender have a significant positive effect on firm value, while CEO tenure and CEO age have a significant negative effect on firm value. The variables CEO education, CEO gender, and CEO age have a positive effect on the implementation of company digitalization, while CEO tenure has a significant negative effect on the implementation of company digitalization. However, in this case digitalization does not affect the value of the firm. In addition, the variables CEO education, CEO gender, CEO tenure, and CEO age cannot be mediators in the variable company value as measured by Tobin's Q.
The limitation of this study is that the measurement of digitalization variables is very diverse with several indicators of digitalization keyword measurement, making the results of digitalization measurement different. In addition, the CEO tenure and CEO age variables from year to year have relatively constant averages, resulting in insignificant research results when mediated by digitalization variables. Suggestions given to company management and investors are to pay attention to CEO education, CEO gender, CEO tenure, and CEO age, because these variables affect the good or bad value of the company and the implementation of corporate digitalization. For further researchers, they should consider other factors besides the variables that have been used in this study.
Keywords: CEO Education, CEO Gender, CEO tenure, CEO age, Digitalization, Firm Value.
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