Peran intellectual capital sebagai mediasi corporate governance terhadap corporate performance industri keuangan di indonesia
T Tujuan dari penelitian ini adalah mengetahui pengaruh corporate governance (CG) terhadap corporate performance (CP) melalui mediasi intellectual capital (IC). Variabel independen yang diteliti terdiri atas dimensi – dimensi corporate governance (CG) yaitu pengungkapan dan transparansi (DC), karakteristik board of director (BOD), shareholders dan investor relation (SI), ownership dan control structure (OC) serta karakteristik top executive management (TEM). Corporate performance (CP) berkedudukan sebagai variabel dependen, intellectual capital (IC) sebagai variabel mediasi dan firm size serta leverage sebagai variabel kontrol. Penelitian ini menggunakan metode analisis regresi data panel serta software Eviews 9.0 untuk mengukur pengaruh langsung dan tidak langsung variabel corporate governance, intellectual capital dan corporate performance, dengan menggunakan objek penelitian perusahaan yang bergerak di sektor keuangan yang tercatat di Bursa Efek Indonesia (BEI) tahun 2014 sampai dengan 2020.Hasil penelitian menunjukkan bahwa corporate governance (CG) berpengaruh secara langsung baik terhadap corporate performance (CP) maupun terhadap intellectual capital (IC). Intellectual capital (IC) sebagai variabel mediasi mampu memediasi pengaruh corporate governance (CG) pada dimensi pengungkapan dan transparansi (DC), karakteristik board of director (BOD), ownership dan control structure (OC) dan top executive management (TEM) terhadap corporate performance (CP), tetapi intellectual capital (IC) tidak mampu memediasi corporate governance (CG) pada shareholders dan investor relation (SI) terhadap corporate performance (CP).Corporate governance (CG) terbukti dapat meningkatkan corporate performance (CP) pada sektor industri keuangan dan intellectual capital (IC) mampu memediasi pengaruh corporate governance (CG) terhadap corporate performance (CP), walaupun tidak semua dimensi corporate governance (CG) dapat dimediasi oleh intellectual capital (IC) hal ini bisa disebabkan oleh tidak semua perusahaan sektor keuangan di Indonesia memiliki shareholders dan investor relation (SI) dengan kualifikasi yang baik. Implikasi praktis dari penelitian ini, CEO dapat memanfaatkan sebagai pedoman untuk memaksimalkan pengelolaan intellectual capital (IC) dalam rangka pencapaian target corporate performance (CP).Kata Kunci: tata kelola perusahaan, kinerja keuangan, modal intelektual
T The purpose of this study is to examine the mediating role of intellectual capital (IC) on the relationship between corporate governance (CG) and corporate performance (CP). The independen variables studied consisted of corporate governance (CG) dimensions, namely disclosure and transparency (DC), characteristics of the board of directors (BOD), shareholders and investor relations (SI), ownership and control structure (OC) and characteristics of top executive management. (TEM). Corporate performance (CP) is the dependent variable, intellectual capital (IC) is the mediating variable and firm size and leverage are the kontrol variables. This study uses the panel data regression analysis method and Eviews 9.0 software to measure the direct and indirect effects of corporate governance, intellectual capital and corporate performance variables, using the research object of companies engaged in the financial sektor listed on the Indonesia Stock Exchange (IDX) in 2014 until 2020.The results of the study show that corporate governance (CG) has a direct effect on both corporate performance (CP) and intellectual capital (IC). Intellectual capital (IC) as a mediating variable is able to mediate the effect of corporate governance (CG) on the dimensions of disclosure and transparency (DC), characteristics of the board of directors (BOD, ownership and control structure (OC) and top executive management (TEM) on corporate performance (CP), but Intellectual capital (IC) is unable to mediate corporate governance (CG) on the dimensions of shareholder and investor relations (SI) on corporate performance (CP).Corporate governance (CG) has been proven to be able to increase corporate performance (CP) in the financial industry sektor and intellectual capital (IC) is able to mediate the influence of corporate governance (CG) on corporate performance (CP), although not all dimensions of corporate governance (CG) can be mediated by intellectual capital (IC) this could be due to the fact that not all financial sektor companies in Indonesia have shareholder and investor relations (SI) with good qualifications. The outcome practical implies is CEO can use this result as a guideline to maximize management of intellectual capital (IC) to achieve target of corporate performance (CP).Keywords: corporate governance (CG), corporate performance (CP), intellectual capital (IC).
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