Electronic Theses and Dissertation

Penelitian ini bertujuan untuk menganalisis pengaruh structural power, ownership power dan expert power terhadap pengambilan risiko perusahaan pada perusahaan pada manufaktur yang tercatat di bursa efek Indonesia periode 2019-2023. Structural power diukur menggunakan proporsi dewan komisaris independen, ownership power diukur menggunakan kepemilikan saham oleh CEO dan expert power diukur mengguakan lama masa jabatan CEO. Teknik analisis yang digunakan adalah regresi linear berganda dengan model pendekatan data panel common effect model, yang diterapkan pada 89 perusahaan manufaktur dengan teknik pemilihan sampel menggunakan metode purposive sampling. Penelitian ini menggunakan unbalanced panel data, sehingga jumlah perusahaan yang termasuk dalam sampel penelitian setiap tahunnya berbeda-beda, jumlah keseluruhan pengamatan penelitian ini adalah 321 observasi. Hasil penelitian menunjukkan bahwa secara parsial structural power tidak berpengaruh terhadap pengambilan risiko perusahaan. Ownership power berpengaruh positif dan signifikan terhadap pengambilan risiko perusahaan dan expert power berpengaruh negatif dan signifikan terhadap pengambilan risiko perusahaan. Sedangkan secara simultan structural power, ownership power dan expert power berpengaruh terhadap pengambilan risiko perusahaan.

Kata Kunci: pengambilan risiko perusahaan, structural power, ownership power, expert power.

This study aims to analyze the influence of structural power, ownership power, and expert power on firm risk-taking in manufacturing companies listed on the Indonesia Stock Exchange during the period 2019–2023. Structural power is measured by the proportion of independent board members, ownership by CEO share ownership, and expert power by CEO's tenure. The analysis technique used is multiple linear regression with a common effect model panel data approach, applied to 89 manufacturing companies using purposive sampling. This study uses unbalanced panel data, so the number of companies included in the sample varies each year, with a total of 321 observations. The results of the study indicate that, partially, structural power does not affect firm risk-taking. Ownership power has a positive and significant effect on firm risk-taking, while expert power has a negative and significant effect on firm risk-taking. Simultaneously, structural power, ownership power, and expert power affect firm risk-taking. Keywords: firm risk-taking, structural power, ownership power, expert power.