Pengaruh Enterprise Risk Management dan Intellectual Capital terhadap Financial Distress dengan Variabel Kontrol Kinerja Keuangan

Authors

  • Jennifer Serafine Tjahjana Universitas Katolik Indonesia Atma Jaya
  • Megawati Oktorina Universitas Katolik Indonesia Atma Jaya

DOI:

https://doi.org/10.30659/jai.12.1.73-90

Abstract

ABSTRACT

This research aims to determine the effect of enterprise risk management and intellectual capital on financial distress with financial performance as the control variable. The topic of distress in financial is interesting to discuss, considering the pandemic period as an external factor affecting the company's finances. The samples that are used in this study are companies listed in the tourism and recreation industry (E51) and the transportation and logistics sector (K) on Indonesia Stock Exchange in 2019-2021. The number of observational data applied in this study was 114. The data analysis method was processed with SPSS version 25.0 software by using multiple linear regression analysis. The findings revealed that enterprise risk management and intellectual capital have a negative effect on the occurrence of financial distress, whereas the debt-to-asset ratio has a positive effect on the occurrence of financial distress.

Keywords: intellectual capital, enterprise risk management, financial distress,
financial performance.


ABSTRAK

Penelitian ini memiliki tujuan guna mencari tahu dampak enterprise risk management dan intellectual capital pada financial distress. Topik financial distress menarik untuk dibahas mempertimbangkan periode pandemi sebagai faktor eksternal yang mempengaruhi keuangan lembaga perusahaan. Sampel penelitian menggunakan perusahaan yang terdaftar dalam kategori industri pariwisata dan rekreasi (E51) serta sektor transportasi dan logistik (K) Bursa Efek Indonesia tahun 2019-2021. Adapun data observasi yang dimanfaatkan pada penelitian sejumlah 114. Data diolah dengan software SPSS versi 25.0 dengan analisis regresi linier berganda. Hasil penelitian ini menampilkan jika enterprise risk management dan intellectual capital mempunyai pengaruh yang negatif pada terjadinya financial distress. Penelitian ini memberikan tambahan literatur terkait pengungkapan manajemen risiko dalam kaitannya dengan terjadinya keadaan financial distress. Hasil penelitian mengkonfirmasi teori sinyal, stakeholder, resource based view. Hasil penelitian memberikan implikasi praktis bahwa untuk menghindari terjadinya financial distress, perusahaan harus mampu mengelola risiko dan intellectual capital dengan baik. Penelitian ini hanya menggunakan intellectual capital dan enterprise risk management dalam mempengaruhi financial distress. Selain itu, pengukuran financial distress menggunakan z-score sehingga semakin tinggi z-score yang dihasilkan bermakna semakin turun terjadinya financial distress dan sebaliknya. Hasil penelitian ini diharapkan mampu memberi tambahan litaratur bagi perusahaan dalam pengelolaan risiko dan pemanfaatan sumber daya serta menjadi pertimbangan bagi calon investor dalam mengevaluasi perusahaan sebelum menanamkan modal di perusahaan.

Kata kunci : Enterprise risk management, financial distress, intellectual capital , kinerja keuangan.

Downloads

Published

2023-04-10

Issue

Vol. 12 No. 1 (2023): Jurnal Akuntansi Indonesia

Section

Articles

License

Jurnal Akuntansi Indonesia is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License Creative Commons License


License and Copyright Agreement
In submitting the manuscript to the journal, the authors certify that:

  • They are authorized by their co-authors to enter into these arrangements.
  • The work described has not been formally published before, except in the form of an abstract or as part of a published lecture, review, thesis, or overlay journal.
  • That it is not under consideration for publication elsewhere,
  • That its publication has been approved by all the author(s) and by the responsible authorities tacitly or explicitly of the institutes where the work has been carried out.
  • They secure the right to reproduce any material that has already been published or copyrighted elsewhere.
  • They agree to the following license and copyright agreement.

Copyright
Authors who publish with JAI agree to the following terms:

  1. Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License (CC BY-SA 4.0) that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal. 
  2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this journal.
  3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work.