Article Per Year (5 Year)
p-Index From 2021 - 2026
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All Journal Jurnal Akademi Akuntansi (JAA)
Fitriyatil A’idah
Faculty of Economics and Business, Telkom University, Bandung, Indonesia
Economics, Econometrics & Finance

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Enterprise risk management, investment opportunity set, and firm value: the mediating role of financial performance in Indonesia Fitriyatil A’idah; Rr. Sri Saraswati
Jurnal Akademi Akuntansi Vol. 9 No. 2 (2026): Jurnal Akademi Akuntansi (JAA)
Publisher : Universitas Muhammadiyah Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22219/jaa.v9i2.44903

Abstract

Purpose: This study examines how corporate risk management and investment opportunities affect firm value through financial performance.. Methodology/approach: From 2021–2024, non-financial firms listed on the Indonesia Stock Exchange used secondary data from their annual reports and financial statements to conduct this quantitative analysis. There were 346 businesses and 1,384 firm-year observations in the sample. In this research, we looked at how Tobin's Q, ROA, disclosure index, and market-to-book ratio of equity evaluated company value, financial performance, and investment prospects. We used EViews' panel data regression and Sobel test to check our hypothesis. Findings: Financial performance enhanced by enterprise risk management and investment opportunities while firm value reduced by enterprise risk management whereas investment opportunities and financial performance increase firm value and financial performance mediates enterprise risk management and investment opportunities influence on firm value between investment opportunities and firm value. Practical and Theoritical contribution/Originality: This study provides evidence that institutional-based monitoring through risk disclosure and growth opportunities achieves market value through profitability. Research Limitation: This analysis is limited to non-financial companies and uses ROA as the sole proxy for financial performance.
Co-Authors Rr. Sri Saraswati