Top management characteristics and company performance: An empirical analysis on public companies listed in the Indonesian stock exchange

Abstract

This study examines the role of the characteristics of top managers in improving the performance of companies listed in the Indonesia Stock Exchange. The sample of 40 companies from the sub sector of property, real estate, and building construction were selected based on purposive sampling technique. Supported by strong literature review, the results show the age and tenure of top managers play an important role in achieving the company performance. Moreover, the firm size is more likely able to mediate the relationship between the independent variables of age and tenure of top managers on the company performance. However, this study is not able to provide a significant evidence in terms of gender on the performance. The results underline the importance of improving the number of woman representation in top management in public companies in Indonesia.