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Author

Ardyan Muhamad Ramadhan

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Open access Sep 2026

Agency vs. Stewardship Theory in Operational Risk Management: A Comparative Panel Data Analysis of Family and Non-Family Firm

This study examines the asymmetric impacts of financial determinants—Growth Opportunity, Operating Cash Flow, Liquidity, and Leverage on operational risk (EBITDA volatility), and analyzes the moderating role of Institutional Ownership across different governance structures. Investigating 36 companies within the Consume...

Ardyan Muhamad Ramadhan, Yuni Utami, M. Amin et al. · 0 citations

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