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The Role of Good Corporate Governance as a Moderator of the Relationship Between Enterprise Risk Management and Intellectual Capital on Firm Value Ni Luh Gede Kusuma Dewi; Ni Putu Sri Harta Mimba
International Journal of Management Research and Economics Vol. 3 No. 2 (2025): May : International Journal of Management Research and Economics
Publisher : Institut Teknologi dan Bisnis (ITB) Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54066/ijmre-itb.v3i2.3461

Abstract

This study aims to analyze the influence of enterprise risk management disclosure and intellectual capital on firm value, with good corporate governance as a moderating variable. The research population consists of state-owned enterprises (SOEs) listed on the Indonesia Stock Exchange during the 2020–2023 period. A total of 17 SOEs were selected using purposive sampling, resulting in 67 observations over four years. The data were analyzed using Moderated Regression Analysis (MRA) with the aid of STATA software. The findings reveal that enterprise risk management disclosure has a negative and significant effect on firm value, while intellectual capital has a positive and significant effect. Furthermore, good corporate governance does not moderate the relationship between enterprise risk management and firm value; however, it strengthens the relationship between intellectual capital and firm value.