?url_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Adc&rft.title=PENGARUH+WAKTU+PERGANTIAN+CEO+TERHADAP+KINERJA%0D%0APERUSAHAAN&rft.creator=HIDAYATULLAH%2C++.&rft.subject=330+Ekonomi&rft.description=Pergantian+CEO+sering+dikaitkan+dengan+perubahan+dalam+kinerja+keuangan+dan%0D%0Akinerja+pasar+individu+perusahaan.+Penyebab+pergantian+CEO+biasanya+terkait%0D%0Adengan+kinerja+perusahaan+yang+buruk+atau+peningkatan+kinerja+yang+terjadi+akibat%0D%0Apergantian+tersebut.+Hubungan+antara+waktu+pergantian+CEO+dan+kinerja%0D%0Aperusahaan+merupakan+topik+yang+menarik+untuk+diteliti+lebih+lanjut.+Penelitian+ini%0D%0Amenginvestigasi+pengaruh+waktu+pergantian+CEO+terhadap+kinerja+keuangan+dan%0D%0Akinerja+pasar+individu%2C+dengan+menggunakan+latar+belakang+pendidikan+CEO%0D%0Asebagai+variabel+pemoderasi%2C+serta+jumlah+anggota+dewan+direksi+dan+asal-usul%0D%0ACEO+(dari+dalam+atau+luar+perusahaan)+sebagai+variabel+Independen+lainnya.%0D%0APenelitian+ini+mendasarkan+analisisnya+pada+empat+teori+utama%2C+yaitu+Teori+Agensi%2C%0D%0ATeori+Upper+Echelons%2C+Teori+Big+Bath%2C+dan+Teori+Akuntansi+Positif.+Data+yang%0D%0Adigunakan+diperoleh+dari+perusahaan-perusahaan+yang+terdaftar+di+Bursa+Efek%0D%0AIndonesia+dari+tahun+2011+hingga+2020%2C+dengan+populasi+awal+sebanyak+709%0D%0Aperusahaan.+Dari+jumlah+tersebut%2C+dipilih+sampel+sebanyak+27+perusahaan.+Hasil%0D%0Apenelitian+menunjukkan+bahwa+waktu+pergantian+CEO+memiliki+pengaruh+positif%0D%0Ayang+signifikan+terhadap+kinerja+keuangan+perusahaan.+Temuan+ini+mendukung%0D%0ATeori+Upper+Echelons+dan+Teori+Big+Bath%2C+yang+menggarisbawahi+peran+CEO%0D%0Asebagai+pembuat+keputusan+strategis+utama+dalam+organisasi%2C+dengan+keputusan%0D%0Amereka+memberikan+dampak+langsung+terhadap+hasil+organisasi.+Namun%2C+waktu%0D%0Apergantian+CEO+tidak+terbukti+berpengaruh+terhadap+kinerja+pasar+individu.+Ini%0D%0Amenunjukkan+bahwa+waktu+pergantian+CEO+tidak+menyediakan+informasi+penting%0D%0Abagi+investor%2C+sehingga+tidak+mempengaruhi+keputusan+investasi+mereka+dan+tidak%0D%0Aberdampak+pada+kinerja+pasar+individu.+Selanjutnya%2C+penelitian+ini+menemukan%0D%0Abahwa+pengangkatan+CEO+dari+luar+perusahaan+dan+jumlah+dewan+direksi+tidak%0D%0Amemiliki+pengaruh+signifikan+terhadap+kinerja+keuangan+atau+kinerja+pasar%0D%0Aindividu.+Terakhir%2C+latar+belakang+pendidikan+CEO+tidak+terbukti+memperkuat%0D%0Ahubungan+antara+waktu+pergantian+CEO+dengan+kinerja+keuangan+maupun+kinerja%0D%0Apasar+individu.%0D%0AKata+Kunci%3A+CEO+Turnover+Time%2C+Firm+Performance%2C+Market+Performance%2C+Agency%0D%0ATheory%2C+Upper+Echelons+Theory%2CBig+Bath+Theory%2C+Positive%0D%0AAccounting+Theory.%0D%0ACEO+The+replacement+of+a+CEO+is+often+linked+with+changes+in+the+financial%0D%0Aperformance+and+market+performance+of+individual+companies.+The+reasons+for%0D%0ACEO+turnover+are+usually+associated+with+poor+company+performance+or%0D%0Aperformance+improvements+resulting+from+the+change.+The+relationship+between+the%0D%0Atiming+of+CEO+turnover+and+company+performance+is+an+intriguing+topic+for+further%0D%0Aresearch.+This+study+investigates+the+impact+of+the+timing+of+CEO+turnover+on%0D%0Afinancial+and+market+performance+of+individuals%2C+using+the+educational+background%0D%0Aof+the+CEO+as+a+moderating+variable%2C+as+well+as+the+number+of+board+members+and%0D%0Athe+origin+of+the+CEO+(from+within+or+outside+the+company)+as+other+Independent%0D%0Avariables.+This+research+bases+its+analysis+on+four+main+theories%3A+Agency+Theory%2C%0D%0AUpper+Echelons+Theory%2C+Big+Bath+Theory%2C+and+Positive+Accounting+Theory.+The%0D%0Adata+used+was+obtained+from+companies+listed+on+the+Indonesia+Stock+Exchange%0D%0Afrom+2011+to+2020%2C+with+an+initial+population+of+709+companies.+From+this+number%2C%0D%0Aa+sample+of+27+companies+was+selected.+The+results+of+the+study+indicate+that+the%0D%0Atiming+of+CEO+turnover+has+a+significant+positive+effect+on+the+financial%0D%0Aperformance+of+the+company.+This+finding+supports+the+Upper+Echelons+Theory+and%0D%0Athe+Big+Bath+Theory%2C+which+underscore+the+role+of+the+CEO+as+the+primary+strategic%0D%0Adecision-maker+in+the+organization%2C+with+their+decisions+having+a+direct+impact+on%0D%0Aorganizational+outcomes.+However%2C+the+timing+of+CEO+turnover+was+not+found+to%0D%0Ahave+an+effect+on+individual+market+performance.+This+suggests+that+the+timing+of%0D%0ACEO+turnover+does+not+provide+critical+information+to+investors%2C+thus+not%0D%0Ainfluencing+their+investment+decisions+and+not+impacting+individual+market%0D%0Aperformance.+Furthermore%2C+this+study+found+that+the+appointment+of+a+CEO+from%0D%0Aoutside+the+company+and+the+number+of+board+members+do+not+have+a+significant%0D%0Ainfluence+on+either+financial+performance+or+individual+market+performance.+Lastly%2C%0D%0Athe+educational+background+of+the+CEO+was+not+proven+to+strengthen+the%0D%0Arelationship+between+the+timing+of+CEO+turnover+and+either+financial+or+market%0D%0Aperformance.%0D%0AKeywords%3A+CEO+Turnover+Time%2C+Firm+Performance%2C+Market+Performance%2C+Agency%0D%0ATheory%2C+Upper+Achelons+Theory%2C+Big+Bath+Therory%2C+Positive%0D%0AAccounting+Theory.&rft.publisher=FAKULTAS+EKONOMI+DAN+BISNIS+&rft.date=2024-02-01&rft.type=Disertasi&rft.type=NonPeerReviewed&rft.format=text&rft.identifier=http%3A%2F%2Fdigilib.unila.ac.id%2F78801%2F1%2FABSTRAK.pdf&rft.format=text&rft.identifier=http%3A%2F%2Fdigilib.unila.ac.id%2F78801%2F2%2FDISERTASI%2520FULL.pdf&rft.format=text&rft.identifier=http%3A%2F%2Fdigilib.unila.ac.id%2F78801%2F3%2FDISERTASI%2520TANPA%2520BAB%2520PEMBAHASAN.pdf&rft.identifier=++HIDAYATULLAH%2C+.++(2024)+PENGARUH+WAKTU+PERGANTIAN+CEO+TERHADAP+KINERJA+PERUSAHAAN.++%5BDisertasi%5D+++++&rft.relation=http%3A%2F%2Fdigilib.unila.ac.id%2F78801%2F