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PENGARUH CORPORATE GOVERNANCE DAN ENTERPRISE RISK MANAGEMENT COSO TERHADAP FIRM PERFORMANCE DENGAN PERAN MEDIASI OPERATIONAL EFFICIENCY : Studi Kasus pada Kelompok Bank berdasarkan Modal Inti Tiga yang Terdaftar pada IDX pada Tahun 2019 – 2023

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RINGKASAN

Ekin Suranta Kaban, Program Pascasarjana Universitas Brawijaya Malang, Analisis Pengaruh Corporate Governance Dan Enterprise Risk Management Terhadap Firm Performance Dengan Peran Mediasi Operational Efficiency; Komisi Pembimbing: Ketua: Dr. Drs. Dwiatmanto, M.Si. Anggota Dr. Nur Imamah SAB., MAB.,PhD.

Penelitian ini mengkaji pengaruh Corporate Governance (CG) dan Enterprise Risk Management (ERM) terhadap Firm Performance (FP), dengan Operational Efficiency (OE) sebagai variabel mediasi. Studi dilakukan pada bank kelompok KBMI 3 yang terdaftar di Bursa Efek Indonesia periode 2019–2023. Pendekatan kuantitatif digunakan dengan metode Structural Equation Modeling berbasis WarpPLS. Sampel terdiri dari sepuluh bank yang dipilih berdasarkan kelengkapan laporan keuangan tahunan.

Corporate Governance diukur menggunakan empat indikator utama, yaitu Board size (73,1%), Gender Diversity (72,8%), Board Meeting (70,2%), dan Board Independence (23,1%). Nilai tertinggi terdapat pada Board size dan Gender Diversity, menunjukkan pentingnya struktur dewan dan keberagaman dalam tata kelola. Indikator Board Independence menunjukkan kontribusi terendah, mengindikasikan perlunya penguatan aspek independensi dewan dalam meningkatkan efektivitas CG. Model empiris menunjukkan bahwa CG memiliki pengaruh signifikan terhadap OE dan FP.
Enterprise Risk Management dievaluasi berdasarkan kerangka COSO dengan empat indikator utama. Nilai tertinggi terdapat pada indikator Information, Communication, and Reporting sebesar 95,0%, disusul Review and Revision (86,5%), Strategy and Objective Setting (78,9%), serta Governance and Culture (57,8%). Hasil ini menunjukkan bahwa sistem pelaporan risiko memberikan kontribusi paling besar terhadap ERM. Kinerja ERM terbukti signifikan dalam mendorong efisiensi operasional dan pencapaian kinerja perusahaan.

Operational Efficiency terdiri dari tiga indikator pengukuran, yaitu BOPO (87,5%), CIR (86,8%), dan Net Profit Margin atau NPM (42,2%). Nilai tertinggi pada BOPO menandakan bahwa efisiensi biaya operasional menjadi tolok ukur dominan dalam menilai efektivitas operasional bank. NPM mencerminkan kemampuan institusi dalam menghasilkan margin laba bersih dari pendapatan total. OE memiliki peran mediasi parsial dalam menjembatani pengaruh CG dan ERM terhadap FP.

Firm Performance diukur melalui Return on Equity (ROE) sebesar 47,0%, Return on Assets (ROA) sebesar 46,9%, dan Net Interest Margin (NIM) sebesar 19,3%. Seluruh indikator FP menunjukkan pengaruh negatif namun signifikan, mencerminkan tantangan profitabilitas dalam sektor perbankan KBMI 3. ROE dan ROA tetap menjadi kontributor dominan dalam menilai kinerja keuangan secara menyeluruh. Nilai NIM yang rendah menunjukkan keterbatasan margin bunga bersih sebagai sumber laba utama.

Hasil penelitian membuktikan bahwa tata kelola dan manajemen risiko memiliki peran strategis dalam membentuk efisiensi operasional dan profitabilitas perusahaan. Efisiensi operasional yang tinggi ditunjukkan melalui pengelolaan BOPO dan CIR yang optimal serta dukungan margin laba bersih yang stabil. Peran OE sebagai variabel mediasi memperkuat keterkaitan antara input struktural dan output kinerja. Hubungan ini memperlihatkan mekanisme transisi yang jelas dari struktur manajemen ke hasil kinerja finansial.

Implikasi praktis dari penelitian ini memberikan arahan kepada manajemen bank untuk memperkuat fungsi pelaporan risiko dan struktur tata kelola. Penguatan indikator-indikator dengan kontribusi rendah seperti Board Independence dan NPM menjadi langkah penting dalam strategi internal. Strategi peningkatan efisiensi melalui optimalisasi struktur biaya dan margin laba bersih sangat diperlukan. Keberhasilan perusahaan perbankan dalam mencapai FP bergantung pada keseimbangan antara efisiensi operasional dan kualitas tata kelola.

Penelitian ini memberikan kontribusi pada pengembangan model terintegrasi antara CG, ERM, OE, dan FP di sektor perbankan. Keberadaan indikator-indikator kuantitatif yang terukur memperkuat validitas model struktural yang diajukan. Hasil empiris mendukung pentingnya pendekatan sistemik yang berbasis efisiensi dan tata kelola dalam meningkatkan daya saing bank. Temuan ini relevan bagi pemangku kebijakan dan pelaku industri dalam merumuskan kebijakan manajemen risiko dan penguatan kinerja berkelanjutan.

Kata Kunci: Tata Kelola Perusahaan, Manajemen Risiko Perusahaan, Efesiensi Operasional, Kinerja Keuangan ,Bank Modal Inti tiga


SUMMARY

Ekin Suranta Kaban, Postgraduate Program, Universitas Brawijaya Malang, Analysis of the Influence of Corporate Governance and Enterprise Risk Management on Firm Performance with the Mediating Role of Operational Efficiency; Supervisory Committee: Chair: Dr. Drs. Dwiatmanto, M.Si.; Member: Dr. Nur Imamah SAB., MAB., Ph.D.

This study examines the influence of Corporate Governance (CG) and Enterprise Risk Management (ERM) on Firm Performance (FP), with Operational Efficiency (OE) serving as a mediating variable. The research was conducted on banks within the KBMI 3 group listed on the Indonesia Stock Exchange during the 2019–2023 period. A quantitative approach was applied using the Structural Equation Modeling method with WarpPLS. The sample consisted of ten banks selected based on the completeness of their annual financial reports.
Corporate Governance was measured using four main indicators: Board size (73.1%), Gender Diversity (72.8%), Board Meeting (70.2%), and Board Independence (23.1%). The highest values were recorded for Board size and Gender Diversity, indicating the importance of board structure and diversity in governance. Board Independence showed the lowest contribution, suggesting the need to strengthen board independence to enhance CG effectiveness. The empirical model demonstrated that CG significantly influences both OE and FP.
Enterprise Risk Management was evaluated based on the COSO framework using four primary indicators. The highest score was found in the Information, Communication, and Reporting indicator at 95.0%, followed by Review and Revision (86.5%), Strategy and Objective Setting (78.9%), and Governance and Culture (57.8%). These results indicate that risk reporting systems contribute the most to ERM. ERM performance proved significant in driving Operational Efficiency and achieving organizational performance.

Operational Efficiency was measured using three indicators: BOPO (87.5%), Cost-to-Income Ratio (CIR) (86.8%), and Net Profit Margin (NPM) (42.2%). The highest value in BOPO indicates that operational cost efficiency is the dominant benchmark for assessing a bank’s operational effectiveness. NPM reflects an institution's ability to generate net profit margins from total revenue. OE plays a partial mediating role in bridging the effect of CG and ERM on FP.
Firm Performance was assessed using Return on Equity (ROE) at 47.0%, Return on Assets (ROA) at 46.9%, and Net Interest Margin (NIM) at 19.3%. All FP indicators showed negative but statistically significant effects, reflecting profitability challenges in the KBMI 3 banking sector. ROE and ROA remained dominant contributors in evaluating overall financial performance. The low NIM value indicates limitations in net interest margin as a primary profit source.
The findings confirm that governance and risk management play strategic roles in shaping Operational Efficiency and company profitability. High Operational Efficiency is demonstrated through optimal BOPO and CIR management, supported by stable net profit margins. OE as a mediating variable strengthens the linkage between structural inputs and performance outputs. This relationship reveals a clear transitional mechanism from management structure to financial performance outcomes.

The practical implications of this study provide direction for bank management to enhance risk reporting functions and governance structures. Strengthening low-contributing indicators such as Board Independence and NPM becomes essential in internal Strategy development. Efficiency improvement strategies through cost structure optimization and enhanced profit margins are highly necessary. The success of banking institutions in achieving FP depends on a balance between Operational Efficiency and the quality of governance.
This study contributes to the development of an integrated model involving CG, ERM, OE, and FP within the banking sector. The inclusion of quantifiable indicators strengthens the validity of the proposed structural model. Empirical results support the importance of a systemic approach based on efficiency and governance in enhancing banking competitiveness. These findings are relevant for policymakers and industry practitioners in formulating risk management policies and strengthening sustainable performance.

Keyword: Corporate Governance, Corporate Risk Management, Operational Efficiency, Financial Performance, Core Capital Bank

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Ketersediaan

Informasi Detail

Judul Seri

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No. Panggil

TES 658,15 KAB p 2025 K1

Penerbit

Malang : Program Magister Ilmu Administrasi Bisnis Fakultas Ilmu Administrasi Universitas Brawijaya Malang., 2025

Deskripsi Fisik

xxi, 316 Halaman ; Ilus : 29,5 cm

Bahasa

Indonesia

ISBN/ISSN

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Klasifikasi

658,15

Tipe Isi

text

Tipe Media

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Tipe Pembawa

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Edisi

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Subjek

Corporate Governance
Financial performance
Kinerja Keuangan
Tata Kelola Perusahaan
Tesis / Thesis
Manajemen Risiko Perusahaan
Efesiensi Operasional
Bank Modal Inti tiga
Corporate Risk Management
Operational Efficiency
Core Capital Bank

Info Detail Spesifik

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Pernyataan Tanggungjawab

Ekin Suranta Kaban

Versi lain/terkait

Lampiran Berkas

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