On societies that value personal dominance

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on societies that value personal dominance (masculinity) tends to have fewer outside directors, and also to consolidate the leadership positions. Firms based in societies that prefer high power distances are more likely to have a single leader as both board chair and CEO and fewer insiders on the board. Overall, these findings confirm the hypotheses about the relationship between national culture and board structure (Li and Harrison, 2008). In the case of Indonesia, the results of research conducted by Li and Harrison (2008) can be adjusted by changing the structure of the Board of Directors with the structure of the Board of Commissioners. Thus, in this study, we can be said that the cultural dimensions of uncertainty avoidance, individualism/ collectivism, masculinity/ femininity, and power distance have significant power to predict the composition of the Board of Commissioners. Firms based on uncertainty avoiding cultures tend to have a more independent Board of Commissioners on their boards. Firms based on societies that value higher levels of individual freedom tend to have a higher percentage of an independent Board of Commissioners on their boards. Firms based on societies that dominance by personal‘s value (masculinity) tends to have fewer an independent Board of Commissioners on their boards. Firms based on societies that prefer high
International Journal of Information, Business and Management, Vol. 5, No.1, 2013 ISSN 2076-9202 66 power distances are more likely to have fewer a non independent Board of Commissioners on their boards. Furthermore, the relationship between corporate governance and corporate orientation can be described as follows. Long-term orientation and short-term orientation simply deal with the time orientation and foresight of cultures. According to Javidan and House in the year 2001, future orientation refers to the extent a culture focuses on the future. Cultural future orientation is the degree to which a society encourages and rewards future-oriented behaviors such as planning. Ashkanasy et. al in the year 2004 told us that high future orientation cultures achieve economic success, have organizations with a long strategic orientation, have flexible and adaptive organizations and managers, place a higher priority on long-term success, have a strong capability and willingness to imagine future contingencies, formulate future goals, and seek to achieve goals and develop strategies for meeting their future aspirations (Seleim and Bontis, 2009). Good corporate governance itself aims to achieve long-term success through the achievement of five principles, such as transparency, accountability, responsibility, independence, and fairness. Based on that, corporate culture that is more suitable for achieving the principles of good corporate governance is a long-term oriented culture.

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