Pengaruh Intellectual Capital, Enterprise Risk Management, dan Good Corporate Governance Terhadap Nilai Perusahaan
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Abstract
Mencapai nilai perusahaan yang maksimal merupakan tujuan utama bagi setiap perusahaan. Penelitian ini bertujuan untuk menganalisa Pengaruh Intellectual Capital, Enterprise Risk Management, dan Good Corporate Governance Terhadap Nilai Perusahaan pada perusahaan yang terdaftar dalam Indeks LQ45 periode 2017 – 2021. Teknik pengambilan sampel dalam penelitian ini menggunakan teknik purposive sampling. Terdapat 24 perusahaan yang terdaftar dalam LQ45 periode 2017 – 2021 yang digunakan sebagai sampel dalam penelitian ini. Jenis data yang digunakan merupakan data kuantitatif dari data sekunder yang bersumber dari laporam keuangan dan laporan tahunan. Metode analisis data yang digunakan yaitu analisis regresi linear berganda. Hasil penelitian menunjukkan bahwa Intellectual Capital, Enterprise Risk Management, dan Good Corporate Governance secara simultan berpengaruh terhadap Nilai Perusahaan. Secara parsial Intellectual Capital berpengaruh positif terhadap Nilai Perusahaan. Sedangkan Enterprise Risk Management dan Good Corporate Governance secara parsial tidak berpengaruh terhadap Nilai Perusahaan.
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This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
LPPM Politeknik Piksi Ganesha Indonesia
How to Cite
Indah Sari, P., & Gantino, R. (2023). Pengaruh Intellectual Capital, Enterprise Risk Management, dan Good Corporate Governance Terhadap Nilai Perusahaan. Jurnal E-Bis, 7(2), 727-742. https://doi.org/10.37339/e-bis.v7i2.1404
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Rahmi, N. U., & Wijaya, V. V. (2022). Pengaruh Enterprise Risk Management, Corporate Social Responsibility, Free Cash Flow dan Leverage Terhadap Nilai Perusahaan pada Perusahaan Sektor Consumer Goods yang Terdaftar di Bursa Efek Indonesia Tahun 2016-2019. Owner, 6(3), 2712–2720. https://doi.org/10.33395/owner.v6i3.853
Rivandi, M. (2018). Pengaruh Enterprise Risk Management Disclosure Dan Corporate Governance Terhadap Nilai Perusahaan. Jurnal Benefita, 3(2), 137. https://doi.org/10.22216/jbe.v3i2.3113
Robiyanto, R., Putra, A. R., & Lako, A. (2021). The effect of corporate governance and intellectual capital toward financial performance and firm value of socially responsible firms. Contaduria y Administracion, 66(1), 1–24. https://doi.org/10.22201/fca.24488410e.2021.2489
Santiani, N. P. (2018). Pengaruh Intellectual Capital Dan Struktur Modal Terhadap Nilai Perusahaan. Jurnal Akuntansi, 13, 69–78. http://jurnal.unsil.ac.id/index.php/jak
Savitri, E., Gumanti, T. A., & Yulinda, N. (2020). “Enterprise risk-based management disclosures and firm value of Indonesian finance companies.” Problems and Perspectives in Management, 18(4), 414–422. https://doi.org/10.21511/ppm.18(4).2020.33
Silva, J. R., Silva, A. F. da, & Chan, B. L. (2019). Enterprise Risk Management and Firm Value: Evidence from Brazil. Emerging Markets Finance and Trade, 55(3), 687–703. https://doi.org/10.1080/1540496X.2018.1460723
Siregar, N. Y., & Safitri, T. A. (2019). Pengaruh Pengungkapan Enterprise Risk Management , Intellectual Capital, Corporate Social Responsibility, Dan Sustainability Report Terhadap Nilai Perusahaan. Jurnal Bisnis Darmajaya, 5(2), 53–79.
Titisari, K. H., Moeljadi, Ratnawati, K., & Indrawati, N. K. (2019). The roles of cost of capital, corporate governance, and corporate social responsibility in improving firm value: Evidence from Indonesia. Investment Management and Financial Innovations, 16(4), 28–36. https://doi.org/10.21511/imfi.16(4).2019.03
Uddin, M. N., Hosen, M., Chowdhury, M. M., Tabassum, T., & Mazumder, M. A. (2021). Does corporate governance influence firm value in bangladesh? A panel data analysis. E a M: Ekonomie a Management, 24(2), 84–100. https://doi.org/10.15240/tul/001/2021-2-006
Ulum, I. (2017). INTELLECTUAL CAPITAL: Model Pengukuran, Framework Pengungkapan, dan Kinerja Organisasi (3rd ed.). Universitas Muhammadiyah Malang.
Brigham, E. F., & Houston, J. F. (2019). Dasar-Dasar Manajemen Keuangan. Salemba Empat.
Devi, S., Budiasih, I. G. N., & Badera, I. D. N. (2017). Pengaruh Pengungkapan Enterprise Risk Management Dan Pengungkapan Intellectual Capital Terhadap Nilai Perusahaan. Jurnal Akuntansi Dan Keuangan Indonesia, 14(1), 20–45. https://doi.org/10.21002/jaki.2017.02
Effendi, M. A. (2016). The Power of Good Corporate Governance: Teori dan Implementasi. Jakarta: Salemba Empat.
Fadilah, R., & Afriyenti, M. (2020). Pengaruh Intellectual Capital, Perencanaan Pajak, Dan Pengungkapan Enterprise Risk Management Terhadap Nilai Perusahaan. Wahana Riset Akuntansi, 8(1), 82. https://doi.org/10.24036/wra.v8i1.109056
Gantino, R., & Alam, L. R. (2021). Pengaruh Intellectual Capital dan Corporate Social Responsibility terhadap Nilai Perusahaan dimoderasi oleh Kinerja. Esensi: Jurnal Bisnis Dan Manajemen, 10(2), 215–230. https://doi.org/10.15408/ess.v10i2.18858
Haj-Salem, I., Damak Ayadi, S., & Hussainey, K. (2020). The joint effect of corporate risk disclosure and corporate governance on firm value. International Journal of Disclosure and Governance, 17(2–3), 123–140. https://doi.org/10.1057/s41310-020-00079-w
Hallauw, K. D. A., & Widyawati, D. (2021). Pengaruh Intellectual Capital , Return On Assets Dan Current Ratio. Jurnal Ilmu Dan Riset Akuntansi, 10(2), 1–19.
Harmono. (2017). Manajemen Keuangan?: Berbasis Balanced Scorecard Pendekatan Teori, Kasus Dan Riset Bisnis. Bumi Aksara.
Iswajuni, I., Manasikana, A., & Soetedjo, S. (2018). The effect of enterprise risk management (ERM) on firm value in manufacturing companies listed on Indonesian Stock Exchange year 2010-2013. Asian Journal of Accounting Research, 3(2), 224–235. https://doi.org/10.1108/AJAR-06-2018-0006
Jaradat, H. Z., Alnaimi, A. A., & Alsmadi, S. A. (2021). The effect of cash holdings and corporate governance on firm value: Evidence from the amman stock exchange. Journal of Governance and Regulation, 10(4 Special issue), 272–281. https://doi.org/10.22495/JGRV10I4SIART7
Jumiari, N. K. V., & Julianto, I. P. (2020). Pengaruh Intellectual Capital, Kinerja Keuangan, dan Kebijakan Keuangan Terhadap Nilai perusahaan. Jurnal Ilmiah Akuntansi Dan Humanika, 10(3), 276–287.
Kebon, S. M. A. M., & Suryanawa, I. K. (2017). Pengaruh Good Corporate Governance Dan Investment Opportunity Set Pada Nilai Perusahaan Di Bursa Efek Indonesia. E-Jurnal Akuntansi, 20(2), 1534–1563.
Kianto, A., Sáenz, J., & Aramburu, N. (2017). Knowledge-based human resource management practices, intellectual capital and innovation. Journal of Business Research, 81(July), 11–20. https://doi.org/10.1016/j.jbusres.2017.07.018
Kurnia, P., Darlis, E., & Putra, A. A. (2020). Carbon Emission Disclosure, Good Corporate Governance, Financial Performance, and Firm Value. Journal of Asian Finance, Economics and Business, 7(12), 223–231. https://doi.org/10.13106/JAFEB.2020.VOL7.NO12.223
Lam, J. (2017). Implementing Enterprise Risk Management: From Methods To Applications. John Wiley & Sons.
Li, Y., & Zhao, Z. (2018). The dynamic impact of intellectual capital on firm value: evidence from China. Applied Economics Letters, 25(1), 19–23. https://doi.org/10.1080/13504851.2017.1290769
Lukviarman, N. (2016). Corporate Governance?: Menuju Penguatan Konseptual dan Implementasi di Indonesia. Solo?: Era Adicitra Intermedia.
Ly, T. T. H., & Duc, N. K. (2018). Corporate governance, pyramid ownership, and firm value: Evidence from Vietnam. Journal of Economic Development, 25(S01), 85–102. https://doi.org/10.24311/jed/2018.25.s01.4
Nadeem, M., Gan, C., & Nguyen, C. (2017). Does intellectual capital efficiency improve firm performance in BRICS economies? A dynamic panel estimation. Measuring Business Excellence, 21(1), 65–85. https://doi.org/10.1108/MBE-12-2015-0055
Nguyen, A. H., & Doan, D. T. (2020). The impact of intellectual capital on firm value: Empirical evidence from Vietnam. International Journal of Financial Research, 11(4), 74–85. https://doi.org/10.5430/ijfr.v11n4p74
Oktaviani, R. M., Susanti, D. T., Sunarto, S., & Udin, U. (2019). The effect of profitability, tax avoidance and information transparency on firm value: An empirical study in Indonesia. International Journal of Scientific and Technology Research, 8(11), 3777–3780.
Pertiwi, S. P., & Suhartini, D. (2022a). Pengaruh Diversifikasi Pendapatan, Modal Intelektual, Dan Pengungkapan Manajemen Risiko Terhadap Nilai Perusahaan. Fair Value: Jurnal Ilmiah Akuntansi Dan Keuangan, 4(7), 1082–1094. https://doi.org/10.32670/fairvalue.v4i7.1179
Pertiwi, S. P., & Suhartini, D. (2022b). Pengaruh Diversifikasi Pendapatan, Modal Intelektual, Dan Pengungkapan Manajemen Risiko Terhadap Nilai Perusahaan (Studi Empiris Pada Bank Umum Konvensional Yang Terdaftar Di Bursa Efek Indonesia Tahun 2015-2020). Fair Value: Jurnal Ilmiah Akuntansi Dan Keuangan, 5(2), 1082–1094.
Prawesti Ningrum, E. (2022). Nilai Perusahaan?: Konsep dan Aplikasi (1st ed.).
Rahmi, N. U., & Wijaya, V. V. (2022). Pengaruh Enterprise Risk Management, Corporate Social Responsibility, Free Cash Flow dan Leverage Terhadap Nilai Perusahaan pada Perusahaan Sektor Consumer Goods yang Terdaftar di Bursa Efek Indonesia Tahun 2016-2019. Owner, 6(3), 2712–2720. https://doi.org/10.33395/owner.v6i3.853
Rivandi, M. (2018). Pengaruh Enterprise Risk Management Disclosure Dan Corporate Governance Terhadap Nilai Perusahaan. Jurnal Benefita, 3(2), 137. https://doi.org/10.22216/jbe.v3i2.3113
Robiyanto, R., Putra, A. R., & Lako, A. (2021). The effect of corporate governance and intellectual capital toward financial performance and firm value of socially responsible firms. Contaduria y Administracion, 66(1), 1–24. https://doi.org/10.22201/fca.24488410e.2021.2489
Santiani, N. P. (2018). Pengaruh Intellectual Capital Dan Struktur Modal Terhadap Nilai Perusahaan. Jurnal Akuntansi, 13, 69–78. http://jurnal.unsil.ac.id/index.php/jak
Savitri, E., Gumanti, T. A., & Yulinda, N. (2020). “Enterprise risk-based management disclosures and firm value of Indonesian finance companies.” Problems and Perspectives in Management, 18(4), 414–422. https://doi.org/10.21511/ppm.18(4).2020.33
Silva, J. R., Silva, A. F. da, & Chan, B. L. (2019). Enterprise Risk Management and Firm Value: Evidence from Brazil. Emerging Markets Finance and Trade, 55(3), 687–703. https://doi.org/10.1080/1540496X.2018.1460723
Siregar, N. Y., & Safitri, T. A. (2019). Pengaruh Pengungkapan Enterprise Risk Management , Intellectual Capital, Corporate Social Responsibility, Dan Sustainability Report Terhadap Nilai Perusahaan. Jurnal Bisnis Darmajaya, 5(2), 53–79.
Titisari, K. H., Moeljadi, Ratnawati, K., & Indrawati, N. K. (2019). The roles of cost of capital, corporate governance, and corporate social responsibility in improving firm value: Evidence from Indonesia. Investment Management and Financial Innovations, 16(4), 28–36. https://doi.org/10.21511/imfi.16(4).2019.03
Uddin, M. N., Hosen, M., Chowdhury, M. M., Tabassum, T., & Mazumder, M. A. (2021). Does corporate governance influence firm value in bangladesh? A panel data analysis. E a M: Ekonomie a Management, 24(2), 84–100. https://doi.org/10.15240/tul/001/2021-2-006
Ulum, I. (2017). INTELLECTUAL CAPITAL: Model Pengukuran, Framework Pengungkapan, dan Kinerja Organisasi (3rd ed.). Universitas Muhammadiyah Malang.