<![CDATA[Financial performance serves as a primary indicator to evaluate financial management effectiveness in State Universities with Legal Entity Status (PTN BH). This study analyzes the impact of budget planning, fund utilization efficiency, and financial accountability on the financial performance of PTN BH, mediated by financial risk management. Utilizing a quantitative survey approach at Universitas Negeri Jakarta (UNJ), data from financial management personnel were analyzed using Structural Equation Modeling-Partial Least Squares (SEM-PLS). The findings reveal that budget planning directly and positively impacts PTN BH financial performance. Furthermore, budget planning, fund utilization efficiency, and financial accountability positively influence financial risk management. Conversely, fund utilization efficiency and financial accountability do not show significant direct effects on financial performance. However, financial risk management demonstrates a strong positive influence on financial performance. These results indicate that effective financial risk management acts as a crucial mediating mechanism that strengthens the path from budget planning, efficient fund usage, and accountability toward optimized financial performance. Ultimately, this research contributes to public sector financial management theory and offers practical guidance for PTN BH administrators aiming to enhance institutional governance and achieve sustainable financial performance.]]>
Copyrights © 2026
