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1st WORKSHOP ON TOP MANAGEMENT TEAMS & BUSINESS STRATEGY RESEARCH: RESPONSES AND ADAPTABILITY IN TURBULENT TIMES (Valencia, March 22nd and 23rd, 2010)

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¡ Introduction ¡ Research Objective ¡ Literature Review ¡ Research Method ¡ Conceptual Model ¡ Result ¡ Conclusion ¡ Limitations

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¡ Top management team composition is a big issue in international business and management research, ¡ limited academic literature investigate about this is in Indonesia, especially on mining company. ¡ Most studies have been conduct in US and Europe. So the result for these studies reflecting diversity and cultural of the underlying US and Europe population.

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¡ The Indonesia economy system is based on agricultural production and extraction of natural resources, especially oil, natural gas, coal, timber, and fish. ¡ Indonesia business system today is very much a reflection of the legacy of former president Soeharto (1966 – 1998)

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¡ D o e s t h e c o m p o s i t i o n o f t h e To p Management Team affect the Indonesia mining companies performance?

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AGE At demographic level, the diversity of the team refers to variables such as age which are the dominant measure of difference in the team. Pegels and Yang (2000:697), Vroom and Pahl, 1971) State that older managers tend to avoid risk while the young one tend to pursue more risky and innovative growth strategies

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Foreigner • Lublin (2005), corporate boards of MNCs are going global, • particularly in Europe 90% contrast in US only 35 % • Veen and Marsman (2008) nationality diversity is an important requirement for quality of strategic decision. More foreigner in TMTs in companies has a better performance than just a few foreigner

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Gender Glunk, Heijltjes and Olie (2001) found that gender distribution to be highly comparable among the three countries; there are few women executives in the 30 companies in UK, Denmark and The Netherlands

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Educational Level Dahlin et al (2005), education diversity in Herrmann and Datta, TMT affects the range 2005; Hambrick and and depth of the use of Mason, 1984, positive information, subsection should be a and may negatively complementary affect the combination of information.

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DEDUCTIVE METHOD 18 MINING COMPANIES LISTED BEI 174 EXECUTIVES

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AGE FOREIGNER -­‐0.76 0.120 ROA GENDER EDUCATION LEVEL 0.042 -­‐0.234

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¡ From the ANOVA table, the significant value = 0.298>α, it can be concluded that the independent variables simultaneously does not affect the dependent variables, so in other words the top management team composition does not affect the company performance.

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AGE – ROA 0.300>α FOREIGNER – ROA 0.435>α GENDER – ROA 0.728>α EDUCATIONAL LEVEL – ROA 0.077>α

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¡ The conclusion was that the independent variables simultaneously does not affect the dependent variables, so top management team composition does not affect the company performance. Also all variables including age, foreigner, gender and the level of education of the top management team have no influence on the performance of Indonesia mining companies

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¡ LIMITED SAMPLE, 18 COMPANIES ¡ LIMITED VARIABLE FOR MEASURE THE COMPANY PERFORMANCE ¡ ONLY ONE YEAR ANNUAL REPORT

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THANK YOU FOR YOUR ATTENTION Comment and Suggestion