Dharmendra, Dharmendra (2025) PERAN ENTREPRISE RISK MANAGEMENT DISCLOSURE, INTELLECTUAL CAPITAL DISCLOSURE DAN COMPETITIVE ADVANTAGE DALAM MENINGKATKAN PENGARUH CORPORATE GOVERNANCE TERHADAP FIRM VALUE PADA PERBANKAN INDONESIA. Doktoral thesis, UNIVERSITAS SULTAN AGENG TIRTAYASA.
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Abstract
This study aims to examine the effect of corporate governance, comprising independent commissioners, board of directors, and audit committee, on enterprise risk management disclosure (ERMD), intellectual capital disclosure (ICD), and firm value in the Indonesian banking sector. Additionally, the study investigates the mediating roles of ERMD and ICD, as well as the moderating effect of competitive advantage on the relationship between disclosure and firm value. The theoretical foundation of this research is agency theory, which posits that effective governance structures and high-quality non-financial disclosure can reduce agency conflicts between management and shareholders, thereby enhancing firm value. The research utilizes secondary data derived from annual reports of 64 banking companies listed on the Indonesia Stock Exchange over the period 2021– 2023, yielding a total of 192 firm-year observations. A quantitative approach is employed using Structural Equation Modelling (SEM) with the Partial Least Squares (PLS) method. The empirical results reveal that all dimensions of corporate governance have a significant positive impact on firm value, ERMD, and ICD. However, ERMD does not significantly influence firm value and fails to mediate the relationship between governance and firm value. Conversely, ICD shows a significant positive effect on firm value and successfully mediates the influence of governance on firm value. Furthermore, competitive advantage is found to moderate the effect of ERMD on firm value significantly, but does not moderate the relationship between ICD and firm value. Theoretically, this research contributes to the expansion of agency theory by demonstrating the mediating role of intellectual capital disclosure and the strategic contextual importance of competitive advantage in firm valuation. Practically, the findings offer implications for bank management, regulators, investors, and banking associations in enhancing governance practices and improving the quality of non-financial disclosure as strategic tools for sustaining competitive advantage and long-term firm value creation.
| Item Type: | Thesis (Doktoral) | |||||||||
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| Additional Information: | Penelitian ini bertujuan untuk menganalisis pengaruh corporate governance (komisaris independen, dewan direksi, dan komite audit) terhadap enterprise risk management disclosure (ERMD), intellectual capital disclosure (ICD), dan nilai perusahaan (firm value) pada sektor perbankan di Indonesia. Selain itu, penelitian ini juga menguji peran ERMD dan ICD sebagai variabel mediasi serta competitive advantage sebagai variabel moderasi dalam memperkuat hubungan terhadap nilai perusahaan. Penelitian ini dilandasi oleh agency theory yang menjelaskan bahwa struktur tata kelola yang efektif dan pengungkapan informasi non-keuangan yang berkualitas dapat mengurangi konflik kepentingan antara manajemen dan pemegang saham serta meningkatkan nilai perusahaan. Data yang digunakan merupakan data sekunder yang diperoleh dari laporan tahunan 64 perusahaan perbankan yang terdaftar di Bursa Efek Indonesia selama periode 2021–2023, dengan total 192 observasi. Analisis dilakukan menggunakan pendekatan kuantitatif melalui teknik Structural Equation Modeling (SEM) dengan metode Partial Least Squares (PLS). Hasil penelitian menunjukkan bahwa seluruh dimensi corporate governance berpengaruh positif signifikan terhadap firm value, ERMD, dan ICD. Namun, ERMD tidak memiliki pengaruh signifikan terhadap nilai perusahaan, serta tidak berperan sebagai mediator dalam hubungan antara governance dan firm value. Sebaliknya, ICD terbukti memiliki pengaruh positif terhadap firm value dan memediasi hubungan antara tata kelola dan nilai perusahaan secara signifikan. Selain itu, competitive advantage memoderasi secara signifikan pengaruh ERMD terhadap firm value, namun tidak memoderasi hubungan antara ICD dan firm value. Penelitian ini memberikan kontribusi teoretis dengan memperluas pemahaman agency theory melalui peran mediasi pengungkapan modal intelektual dan pengaruh konteks strategis perusahaan dalam membentuk nilai pasar. Secara praktis, hasil penelitian ini memberikan implikasi bagi manajemen bank, regulator, investor, dan asosiasi perbankan untuk meningkatkan kualitas tata kelola dan transparansi informasi non-keuangan sebagai strategi dalam membangun keunggulan kompetitif dan menciptakan nilai jangka panjang. | |||||||||
| Uncontrolled Keywords: | Corporate Governance, Enterprise Risk Management Disclosure, Intellectual Capital Disclosure, Firm Value, Competitive Advantage, Agency Theory, Banking Sector. Corporate Governance, Enterprise Risk Management Disclosure, Intellectual Capital Disclosure, Firm Value, Competitive Advantage, Agency Theory, Perbankan. | |||||||||
| Subjects: | H Social Sciences > HF Commerce > HF5601 Accounting H Social Sciences > HF Commerce > HF5601 Accounting |
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| Divisions: | 05-Fakultas Ekonomi dan Bisnis 08 Pascasarjana > 7783-ILMU AKUNTANSI PROGRAM DOKTOR (S3) |
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| Depositing User: | DHARMENDRA DHARMENDRA | |||||||||
| Date Deposited: | 19 Nov 2025 06:46 | |||||||||
| Last Modified: | 19 Nov 2025 06:46 | |||||||||
| URI: | http://eprints.untirta.ac.id/id/eprint/56200 |
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