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The Role of Risk Management in Mediating Corporate Governance on Financial Performance in Banking Companies in Indonesia Hermawan, Hermawan; Hersugondo, Hersugondo
Dinasti International Journal of Economics, Finance & Accounting Vol. 6 No. 6 (2026): Dinasti International Journal of Economics, Finance & Accounting (January - Feb
Publisher : Dinasti Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/dijefa.v6i6.5912

Abstract

Improving shareholder welfare requires strong financial performance, as it enhances a company's market value and facilitates access to external capital through loans or equity investments. Solid financial performance builds investor confidence and encourages expectations of higher returns. The decline of the banking sector during past crises was not solely due to weak implementation of good corporate governance (GCG), but also inadequate risk management, highlighting the growing importance of integrating effective risk controls with GCG principles to strengthen firm value. This study empirically analyzes banking companies listed on the Indonesia Stock Exchange during 2020–2023 using secondary data from publicly available financial and annual reports on [www.idx.co.id](http://www.idx.co.id). Employing a quantitative descriptive design with partial regression analysis, the study examines statistical patterns and variable relationships. The findings reflect that high investment levels often correspond with lending practices that carry significant credit risk, requiring larger loan-loss reserves. Financial institutions can mitigate such risks by limiting high-risk activities and transferring manageable risks to other entities. Overall, financial performance represents the company’s ability to manage resources effectively and comply with financial governance standards, ultimately shaping stakeholder trust and corporate sustainability.
The Role of Financial Performance in The Relationship between Ownership on Corporate Value in Environment-Based Companies Innany Mirrahmatikal Maula; Hersugondo Hersugondo
AFRE (Accounting and Financial Review) Vol. 7 No. 3 (2024): November 2024
Publisher : Postgraduate Program Merdeka University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/afr.v7i3.13124

Abstract

The objective of this research was to examine the impact of Ownership Structure on Corporate value, mediated by Financial performance, among 25 companies listed on the SRI KEHATI Exchange during the period of 2018 to 2022. The data for this study was collected from Bloomberg and official financial reports provided by the Indonesia Stock Exchange (BEI) website. The data analysis in this research was conducted using the Partial Least Squares (PLS) method. The results of the study revealed that the ownership structure, represented by foreign ownership and public ownership, did not exhibit a significant impact on corporate value. Nevertheless, it was noteworthy that foreign ownership demonstrates a statistically significant and positive influence on corporate value by means of the company's financial performance. On the other hand, public ownership exhibited a significant and negative influence on corporate value through the financial performance of the company. This indicated that the financial performance of the company fully mediates the relationship between ownership structure and corporate value. JEL Classification: C51, G32, L25 DOI: https://doi.org/10.26905/afr.v7i3.13124
Map of Return of Shares and Volume Activity Trading of Companies in Indonesia on The Pandemic Time of Covid-19 Hersugondo Hersugondo; Abdul Karim; Abdul Rouf
Media Ekonomi dan Manajemen Vol 36, No 2 (2021): July 2021
Publisher : Fakultas Ekonomika dan Bisnis UNTAG Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (478.767 KB) | DOI: 10.24856/mem.v36i2.1892

Abstract

This research was conducted to determine the impact of Covid-19 on the Company’s stock returns and trading volume activity. The covid-19 pandemic event is important for research because it includes investor’s assessment of the information generated in the capital market. This study was conducted to test the following hypotheses: before and after the Covid-19 pandemic was declared a national non-natural disaster, (1) there was a significant average change in the average abnormal return; (2) it is a significant average change in average trading volume activity. This research was conducted using event research methods. The sample for this study comes from 45 companies in the JII index. The analysis tool used is a regression with the SPSS. The descriptive statistic can be confirmed by calculating the standard deviation value. The result shows that the standard deviation range is 0.0002 to 0.03, so the research tool could be described as data obtained is suitable to the measurement variable. The conclusions explain that the events before and after the declaration of the Covid-19 outbreak as a national non-natural disaster have positive and a significant impact on the average abnormal return rate of stock activity and changes in trading volume activity.
Dividends as a Signal or Merely a Routine? The Mediating Role of Dividend Policy on Firm Value Dika Setia Nugraha; Hersugondo Hersugondo
InFestasi Vol 22, No 1 (2026): JUNE
Publisher : Universitas Trunojoyo Madura

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21107/infestasi.v22i1.33895

Abstract

The primary objective of this study is to investigate whether dividend policy functions as a market signal or simply follows a standard corporate protocol. Furthermore, the research explores the capacity of dividend policy to bridge the relationship between corporate attributes and market value. By examining non-financial firms within the LQ45 index from 2020 to 2023, the study analyzes the impact of firm size, profitability, and cash holdings on corporate valuation, with dividend policy serving as an intervening factor. Utilizing a quantitative framework, the study employed panel data regression and the Sobel test to evaluate mediation outcomes. Following outlier removal, a final dataset of 26 observations was gathered via purposive sampling. The empirical findings suggest that while profitability significantly influences both firm value and dividend policy, variables such as firm size and cash reserves do not demonstrate a meaningful impact. Ultimately, the results indicate that dividend policy is not a significant mediator between company characteristics and overall firm value.
Co-Authors 08.05.52.0043 Handy Setyo Tamtomo 08.05.52.0127 George Agust Hermianto 09.05.51.0116 Dody Wijaya__ 09.05.52.0074 Deasy Purnamasari Abdul Karim Abdul Rouf Abi Kumalasari, Irmadela Alya Syafi Rifiana Amie Kusumawardhani, Amie Ardira, Givantoro Agma Augusty Tae Ferdinand Azzahra, Widad Nabila Catur Kepirianto Cipto, Noventinus Surya Daniel W Kristia Daryono Daryono DAVID SANTOSO Deby Fakhriyana, Deby Deni Sunaryo, Deni Dianitasari, Nadya Dihardjo, Jason Ferdianto Dika Setia Nugraha Dimaciela V Sekarlangit Eka Febiyanti Etty Puji Lestari Euis Soliha Fajar Ihrom Fathin, Nadime Abiyyu Fatima, Dahniar Fara Febrianto, Sigit Figosutansyah, Atev Firdauzi, Annisa Gabriella Krisvania Wisnuwardani Ghofur, Azizul Mukminun Haerani, Ega Devana Hermawan Hermawan Hermin Pancasakti Kusumaningrum Idris Idris Innany Mirrahmatikal Maula Irene Rini Demi Pangestuti Kartika Andi Kinasih, Raras Sekar Krismonika Hidayat Kristyaningrum, Agatha Canonia Lesticya, Widya Lilis Sugiarti Listianawati, Listianawati Majid, Muhammad Abdul Maulana, Bachtiar Rifqi Muhammad Zainuri Naufal, Muhammad Heru Nugroho, Naufal Adi Nurahman, Dany Perdanaputra, Mahardika Putri Nur Syarifah Rahardian, Tito Renanduta Candra Nugraha Rio Dhani Laksana Rizka Aulia S, Ruth Dwijayanti Sa'adah, Ardiana Alifatus Saadah, Ardiana Alifatus Saadiya, Audrey Lize Salisa Nur Maulina Salsabilla, Talitha Sahda Santoso, Balqis Salsabila Sidabutar, Maxsuel Herianto Siska Nofita Ana Pertiwi, 14.05.51.0203 Siska Nofita Ana Pertiwi, 14.05.51.0203 Siswahyudianto SITI PURYANDANI Siti Puryandani Sri Supriyati Sudibyo Ikhsan SUGENG WAHYUDI Suharnomo Suharnomo Sunarto Sunarto Umi Aulya Khofifah Universe Universe Wafdayanti, Haasya Wahyu Irawan Widyaningsih, Novita Yuliastuti, Nur Rachmalina