How Financial Performance and State-Owned Enterprise (SOE) Values Are Affected by Good Corporate Governance and Intellectual Capital Perspectives

Abstract

The implementation of good governance and attention to resources will affect company survival. The purpose of this study was to examine the effect of good corporate governance and intellectual capital on financial performance and company value through statistical and econometrical tests on SOEs in Indonesia. This is quantitative research with state-owned enterprises (SOEs) listed on the Indonesia Stock Exchange. The total study population was 16 SOEs. This study used a saturated sample. Furthermore, the exogenous variables in this study were good corporate governance (GCG) and intellectual capital, whereas the endogenous variables were the company and financial performance. This study used the statistical analysis inferential because the variables used indicators and were formative. The results indicated that GCG and financial performance have positive effects on firm value, intellectual capital does not affect company value, and GCG and intellectual capital have positive effects on financial performance. The evaluation of indirect effects in this study showed that financial performance mediates the effect of intellectual capital and GCG on company value.

Tata Kelola Bumn Dan Pertumbuhan Ekonomi Menurut Klaster Lapangan Usaha Perusahaan Negara Di Indonesia

“…Indonesia, Agustinus Febi Dwi Purnama, Anhar Fauzan Priyono, dan Sutyasti Soemitro Remi masing lapangan usaha. Bukti empiris menyatakan bahwa praktik Good Corporare Governance (GCG) mendukung peningkatan kinerja dan nilai perusahaan (Hermanto et al, 2021) dan (Warganegara et al, 2012). Bahkan menurut Heo (2018), terdapat tiga unsur tata kelola yang baik telah terbukti berpengaruh positif pada kinerja perusahaan milik negara, yaitu ukuran dewan, korporatisasi, transparansi dan pengungkapan.…”

“…Sesuai dengan hasil estimasi pada Tabel 2., pada umumnya setiap peningkatan 1 poin perubahan nilai GCG maka akan meningkatkan nilai perubahan ROE dengan nilai koefisien yang berbeda untuk setiap kelompok usaha BUMN, dengan asumsi faktor lainnya tetap. Keterkaitan positif antara variabel tersebut sesuai dengan hasil penelitian Warganegara et al(2012), Heo (2018), dan Hermanto et al, (2021).…”

Pengaruh Good Corporate Governance dan Environmental Social Governance terhadap Nilai Perusahaan dengan Kinerja Keuangan Sebagai Moderasi

“…Menurut World Commission On Enviroment Development (WCED), tujuan utama pengungkapan ESG sebagai pengingat generasi sekarang dapat memaksimalkan pembangunan sehingga kebutuhan dapat terpenuhi namun tidak membuat generasi selanjutnya kesulitan dalam memenuhi kebutuhan hidup mereka [12]. Pada dasarnya hal ini memiliki tujuan supaya terjadinya keseimbangan antara pembangunan ekonomi dan pelestarian lingkungan.…”

Influence of eco‐product innovation and firm reputation on corporate social responsibility and competitive advantage: A mediation‐moderation analysis

“…Meanwhile, scholars opine that companies have a responsibility to offer crucial data concerning the adoption of CSR to communities and governments via their websites to help people within the immediate communities comprehend the role of the company in society (Hermanto et al, 2021). Therefore, the current study considers ecoproduct innovation as a mediator in order to address the relationship between firms' competitive advantage, performance metrics, and reputation.…”

“…Mbanyele et al (2022), Novitasari and Tarigan (2022), and Sapta et al (2021) believe that while such a program can improve the business of any company, it also affects the environment and builds relationships with the private sector, the government, and the public. Meanwhile, scholars opine that companies have a responsibility to offer crucial data concerning the adoption of CSR to communities and governments via their websites to help people within the immediate communities comprehend the role of the company in society (Hermanto et al, 2021). Therefore, the current study considers eco‐product innovation as a mediator in order to address the relationship between firms' competitive advantage, performance metrics, and reputation.…”