The Influence of Good Corporate Governance and Enterprise Risk Management on Economic Performance with Corporate Ethical Identity as a Mediating Variable

Immami, Immami
Rosini, Iin
Kusumaningsih, Ani

IIJSE
Vol 8 No 3 (2025): Sharia Economics

This study analyzes the relationship between Good Corporate Governance (GCG), Enterprise Risk Management (ERM), and Economic Performance, with Corporate Ethical Identity (CEI) as a mediating variable. The research sample consists of companies participating in the CGPI program from 2020 to 2023. Using a quantitative method with panel data regression analysis via EViews 13, the study finds that both GCG and ERM have a positive influence on the formation of CEI. However, GCG and ERM do not directly affect Economic Performance. Conversely, CEI is proven to have a positive and significant impact on Economic Performance. A key finding of this study is that CEI serves as a full mediator, meaning the influence of GCG and ERM on Economic Performance is entirely channeled through the strengthening of Corporate Ethical Identity.