PENGGUNAAN LEVERAGE PADA PERUSAHAAN: PERBEDAAN ANTARA CEO PRIA DAN WANITA

Abstract

Various studies show that women are more risk averse in making decisions and better long-term oriented. Women would rather risk averse than men, making it less likely they will use debt in their capital structure, since by increasing debt increases the risk of the company's financial means. This study want to test whether gender became a significant factor in financial leverage, to see whether there are differences in policy between the company's leverage, led by men and women. Financial leverage is used as a measure of corporate risk because these variables can be changed by the CEO. Data from companies listed on the Jakarta Stock Exchange as sample. The results showed that there were differences in leverage between firms that have a men CEO with the women CEO of a company. Men CEO use more debt than the women CEO. But for the performance measured by ROI, obtained different results for the type of industry studied. For the consumer goods industry, there are performance differences between the men CEO and the women. But for the internet service industry and enamel kitchen showed no performance difference between women CEO with men CEO.