The Effect Of Good Corporate Governance On Financial Performance With Intellectual Capital As A Moderator (An Empirical Study Of Banking Subsector Companies Listed On The Indonesia Stock Exchange From 2021 To 2024)
DOI:
https://doi.org/10.53866/jimi.v6i2.1447Keywords:
Institutional Ownership, Board Of Directors, Board Of Commissioners, Intellectual Capital, Financial PerformanceAbstract
Financial performance is an indicator of a company’s ability to achieve its economic goals through efficient and sustainable management of assets, capital, and operational activities. This study aims to examine and analyse the influence of institutional ownership,board of directors, and board of commissioners on financial performance, and to examine the moderating effect of intellectual capital on the relationship between institutional ownership, board of directors, and board of commissioners on financial performance. The population in this study was banking subsector companies listed on the indonesia stock exchange in 2021-2024. Based on purposive sampling result, 36 companies were selected as samples that met the criteria. This study used Partial Least Squares (PLS)-Structural Equation Modeling (SEM) to test the hypotheses due to the non-normal distribution of data for several variables and the limited sample size. The results indicate that institutional ownership has a positive and significant effect on financial performance. board of directors has a positive and significant effect on financial performance. Board of commissioners has a positive and significant on financial performance. Intellectual capital reduces the positive effect of institutional ownership on financial performance. Intellectual capital does not moderate the effect board of directors on financial performance. Intellectual capital does not moderate the effect board of commissioners on financial performance.
References
Alhejji, H., & Khawaja, K. F. (2021). Effect of board size and board composition on firm's financial performance in Saudi Arabia. International Journal of Finance Research, 2(2), 133-143.
Alkurdi, A., Hamad, A., Thneibat, H., & Elmarzouky, M. (2021). Ownership structure's effect on financial performance: An empirical analysis of Jordanian listed firms. Cogent Business & Management, 8(1), 1-18.
Apriliana, E. S., & Zulfikar. (2024). Pengaruh Kepemilikan Institusional, Komisaris Independen, Ukuran Dewan Direksi, Komite Audit Terhadap Kinerja Keuangan Dengan Intellectual Capital Sebagai Variabel Moderasi. SEIKO : Journal of Management & Business, 7(2), 108-120.
Ernawati, & Santoso, S. B. (2021). Pengaruh Ukuran Perusahaan, Kepemilikan Institusional, Komisaris Independen, dan Leverage Terhadap Kinerja Keuangan. Jurnal Ilmiah Akuntansi, 19(2), 231-246.
Farooque, O. A., Buachoom, W., & Hoang, N. H. (2019). Board, audit committee, ownership and financial performance: Emerging trends from Thailand. Pacific Accounting Review, 32(1), 54–81.
Ghozali, P. H. I. (2023). Partial Least Squares Konsep, Teknik, dan Aplikasi Menggunakan Program SmartPLS 4.0 untuk Penelitian Empiris.
Hartati, N. (2020). Pengaruh Ukuran Dewan Komisaris, Komite Audit, dan Kepemilikan Institusional Terhadap Kinerja Keuangan Perusahaan. EKOMABIS: Jurnal Ekonomi Manajemen Bisnis, 01(02), 175-184.
Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305–360. https://doi.org/10.1016/0304-405X(76)90026-X
Kao, M. F., Hodgkinson, L., & Jaafar, A. (2019). Ownership structure, board of directors and firm performance: Evidence from Taiwan. Corporate Governance, 19(1), 189–216.
Kyere, M. (2021). Corporate governance and firms financial performance in the United Kingdom. International Journal of Finance and Economics. International Journal of Finance and Economics, 26(2), 1871–1885.
Rahmawati, A. I., & Rofiuddin, M. (2023). Islamicity Performance Index dan Good Corporate Governance dalam Mempengaruhi Kinerja Keuangan yang dimoderasi Intellectual Capital. Journal of Management and Digital Business, 3(1), 31-46.
Septiana, N., & Aris, M. A. (2023). Analisis Proposi Dewan Komisaris Independen, Ukuran Dewan Direksi, Komite Audit, Blockholder Ownership terhadap Kinerja Keuangan. Jurnal Akuntansi, Keuangan, Dan Manajemen (JAKMAN), 4(2), 101-114.
T.Rahmawati, W. (2024). Laba Bersih Allo Bank (BBHI) Turun 10,69% Jadi Rp 303 Miliar Hingga Kuartal III-2024. Kontan.Co.Id-Jakarta.
Wahyudi, P., Wulandari, I., & Budiantara, M. (2021). Analisis Pengaruh Intellectual Capital dan Mekanisme Coporate Governance Terhadap Kinerja Keuangan. JRAMB, 7(2), 199-205.
Weqar, F., & Haque, S. M. I. (2020). Intellectual capital and corporate financial performance in India’s central public sector enterprises. Journal of Intellectual Capital, 21(6), 935–964.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2026 Bunga Maulidya Putri, Komala Ardiyani
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
