Pengaruh risiko operasional, struktur modal, dan modal intelektual terhadap kinerja perusahaan dengan mekanisme tata kelola perusahaan sebagai variabel moderasi

Kurniadi, Timothy Hizkia (2023) Pengaruh risiko operasional, struktur modal, dan modal intelektual terhadap kinerja perusahaan dengan mekanisme tata kelola perusahaan sebagai variabel moderasi. Bachelor thesis, Universitas Pelita Harapan.

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Abstract

Penelitian ini bertujuan untuk menguji pengaruh risiko operasional, struktur modal, dan modal intelektual terhadap kinerja perusahaan dengan mekanisme tata kelola perusahaan sebagai variabel moderasi. Kinerja perusahaan pada penelitian ini diukur dengan Tobin’s Q, risiko operasional pada penelitian ini diukur dengan natural logarithm dari kerugian operasional, struktur modal diukur dengan rasio DER, modal intelektual diukur dengan MVAIC, dan mekanisme tata kelola perusahaan diukur dengan board size dan board independence. Penelitian ini menggunakan data dari 115 perusahaan yang berada di kawasan ASEAN yang termasuk dalam kategori industry Consumer Discretionary dan Consumer Staples pada S&P Capital IQ selama periode 2018-2022. Metode pengambilan sampel pada penelitian ini menggunakan purposive sampling method. Penelitian ini menemukan hasil bahwa risiko operasional dan modal intelektual tidak berpengaruh terhadap kinerja dari perusahaan, sedangkan struktur modal memiliki pengaruh positif terhadap kinerja perusahaan. Penelitian ini juga menemukan bahwa mekanisme tata kelola perusahaan dapat memperkuat hubungan positif antara struktur modal dan kinerja perusahaan, tetapi tidak dapat memoderasi hubungan positif antara risiko operasional dan modal intelektual terhadap kinerja perusahaan. / This research aims to examine the influence of operational risk, capital structure, and intellectual capital on firm performance with corporate governance as moderating variable. In this study, firm performance is measured by Tobin’s Q, operational risk is measured by the natural logarithm of operational loss, capital structure is measured by the DER ratio, intellectual capital is measured by MVAIC, and corporate governance mechanism is measured by board size and board independence. This study uses data from 115 companies located in the ASEAN region which are included in the Consumer Discretionary and Consumer Staples industry categories on S&P Capital IQ during the 2018-2022 period. The sampling method in this research used a purposive sampling method. This study found that operational risk and intellectual capital had noeffect on firm performance, while capital structure had a positive impact on firm performance. This research also finds that corporate governance mechanisms can strengthen the positive relation between capital structure and firm performance but cannot moderate the positive relationship between operational risk and intellectual capital on firm performance.

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