Indonesia Conference Directory

Indonesian State-Owned Enterprises still have challenges to implement corporate governance mechanisms due to weak institutional arrangements. The purpose of the study is to provide an in-depth analysis of how the relationship of ownership concentration, institutional ownership, foreign ownership and board size on the performance of State-Owned Enterprises. The subject of this research is public State-Owned Enterprises listed on the Indonesia Stock Exchange for the period 2013-2018, which produced a total of 120 observations. Panel data regression was conducted to test the research hypothesis and the results found evidence that ownership concentration and foreign ownership has a positive influence on firm performance. This research contributes to the corporate governance literature by adding the State-Owned Enterprises as the research object. In addition, this study also produced managerial implications regarding the existence of female directors in State-Owned Enterprises.