PENGARUH REPUTASI MANAJEMEN PUNCAK DAN DEWAN KOMISARIS TERHADAP PENILAIAN INVESTOR PADA PERUSAHAAN YANG MELAKUKAN IPO

This research empirically examines the influence o f reputation o f top management and board ofcommissioner (boc) on firm value. top management has a primary role as a strategic decision maker in a firm. its actions and characteristics specifically influence the organization ’s outcomes. the main duty o f boc is to ensure that managerial decisions are consistent with shareholders goals. one indicator o f top management and boc ’s competency and skill is reputation. the purpose o f the study is to investigate the influence o f reputation o f top management and boc on firm value at the initial public offering (ipo). its effect is through a largely symbolic role to enhance organizational legitimacy and it provides a signal to potential investors about the firm s prospect. the samples include 59 firms undertaking ipo in the jakarta stock exchange (jsx) during 1999-2006. this study employs three characteristics o f reputation: education background, previous experiences and corporate board experiences. this study finds that education background has a positive association with investor valuation. previous experiences and corporate board experiences do not have significant association with investor valuation.