STRATEGI BISNIS ENTREPRISE RISK MANAGEMENT , DAN KINERJA ORGANISASI [BUSINESS ENTERPRISE RISK MANAGEMENT, AND ORGANIZATIONAL PERFORMANCE]
Abstract
Abstrak
Penelitian ini bertujuan untuk menguji pengaruh pilihan strategi bisnis perusahaan terhadap kinerja organisasi serta menginvestigasi peran enterprise risk management (ERM) dalam memoderasi pengaruh strategi bisnis terhadap kinerja keuangan dan kinerja operasional perusahaan. Terdapat 558 observasi dalam penelitian ini, yang berasal dari 144 perusahaan sektor manufaktur yang terdaftar di Bursa Efek Indonesia selama periode 2013-2016. Hasil penelitian menunjukkan bahwa terdapat pengaruh positif dari strategi bisnis prospector terhadap kinerja keuangan perusahaan. Namun, tidak terdapat pengaruh yang cukup signifikan dari strategi bisnis prospector maupun defender terhadap kinerja operasional perusahaan. Adapun terkait dengan peran moderasi dari ERM, tidak ditemukan pengaruh moderasi dari ERM terhadap kinerja organisasi, baik pada strategi bisnis prospector dan defender. Namun, terdapat pengaruh langsung yang positif dari ERM terhadap kinerja organisasi. Hasil penelitian ini berimplikasi bahwa ERM, sebagai pendekatan manajemen risiko yang integral dan komprehensif, dapat memainkan peranan penting untuk membantu manajemen dalam menciptakan nilai dan mencapai kinerja organisasi yang optimal.
Kata kunci: strategi bisnis, manajemen risiko perusahaan, kinerja organisasi
Abstract
This study aims to examine the effect of corporate business strategy choices on organizational performance and investigate the role of ERM in moderating the effect of business strategy on financial performance and operational performance of the company. There are 558 observations in this study, derived from 144 manufacturing sector companies listed on the Indonesia Stock Exchange during the period 2013-2016. The results showed that there is a positive effect of business prospector strategy on the company's financial performance. However, there is no significant effect from the business strategy of the prospector or defender on the operational performance of the company. As for the moderating role of ERM, there is no significant effect of ERM on the organization's performance, both on the business prospector and defender strategy. However, there is a positive direct effect of ERM on organizational performance. The results of this study imply that ERM, as a comprehensive risk management approach, can play an important role to assist management in creating value and achieving optimal organizational performance.
Keywords: business strategy, enterprise risk management, organizational performanceFull Text:
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