Pengaruh Strategi Diversifikasi dan Modal Intelektual Terhadap Kinerja Perusahaan (Studi Empiris pada Perusahaan Properti dan Real Estate yang Terdaftar di BEI pada Tahun 2019-2021)
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Apr 30, 2024
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Company Performance, Diversification Strategy, Intellectual Capital
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Abstract
This research aims to examine the impact of diversification strategy and intellectual capital on company performance. The data utilized in this study are secondary data derived from the financial reports of companies listed on the Indonesia Stock Exchange for the period of 2019-2021. A sample of 15 companies was selected using purposive sampling method. The analysis method employed in this research is panel data regression, with hypotheses based on previous studies and supporting theories, and analyzed using Eviews 9 software. The research findings indicate that diversification strategy does not significantly affect company performance, while intellectual capital has a positive influence on company performance.
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Andrian, J. A., & Khairudin. (2024). Pengaruh Strategi Diversifikasi dan Modal Intelektual Terhadap Kinerja Perusahaan (Studi Empiris pada Perusahaan Properti dan Real Estate yang Terdaftar di BEI pada Tahun 2019-2021). Jurnal EMT KITA, 8(2), 750–758. https://doi.org/10.35870/emt.v8i2.2392
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References
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Mouamer, F. M. A. (2011). The determinants of capital structure of Palestine‐listed companies. The Journal of Risk Finance, 12(3), 226-241. https://doi.org/10.1108/15265941111136969
Nursanti, S., Dida, S., Hidayat, M., & Afriandi, I. (2017, November). Communication Pattern of the Director of Regional Hospital in the implementation of Health Decentralization in Indonesia. In Third International Conference on Social and Political Sciences (ICSPS 2017) (pp. 261-266). Atlantis Press.
Ortega, M. (2010). Competitive strategies and firm performance: Technological capabilities' moderating roles. Journal of Business Research, 63(12), 1273-1281. https://doi.org/10.1016/j.jbusres.2009.09.007
Peteraf, M. A. (1993). The cornerstones of competitive advantage: A resource‐based view. Strategic Management Journal, 14(3), 179-191. https://doi.org/10.1002/smj.4250140303
Porter, M. E. (1980). Industry structure and competitive strategy: Keys to profitability. Financial Analysts Journal, 36(4), 30-41.
Porter, M. E. (1997). Competitive strategy. Measuring Business Excellence, 1(2), 12-17. https://doi.org/10.1108/eb025476
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Retnani, Y., Widiarti, W., Amiroh, I., Herawati, L., & Satoto, K. B. (2009). Storage capacity and palatability of wafer complete ration based on sugar cane top and bagasse on calves. Media Peternakan, 32(2).
Salavou, H. (2013). Hybrid strategies in Greece: A pleasant surprise. European Business Review, 25(3), 301-314. https://doi.org/10.1108/09555341311314834
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Satria, R., & Shahbana, E. B. (2020). The SWOT analysis of strengthening character education in junior high school. Jurnal Iqra' : Kajian Ilmu Pendidikan, 5(2), 56-67. https://doi.org/10.25217/ji.v5i2.827
Sirojudin, G. A., & Nazaruddin, I. (2014). The influence of intellectual capital and its disclosure on the value and performance of the company. Journal of Accounting and Investment, 15(2), 77-89.
Sulastri. (2015). Pengaruh Strategi Diversifikasi Terhadap Kinerja Keuangan Perusahaan Dengan Struktur Modal Sebagai Variabel Intervening. Jurnal Akuntansi Unesa, 3(2), 29.
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Warnier, V., Weppe, X., & Lecocq, X. (2013). Extending resource-based theory: Considering strategic, ordinary and junk resources. Management Decision, 51(7), 1359-1379. https://doi.org/10.1108/md-05-2012-0392
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Windyaraini, D. H., Marsifah, T., Mustangin, Y., & Poerwanto, S. H. (2019). Detection of transovarial transmission of dengue virus in Aedes spp. (Diptera: Culicidae) from Brontokusuman Village, Yogyakarta, Indonesia. Biodiversitas Journal of Biological Diversity, 20(7). https://doi.org/10.13057/biodiv/d200737
Adella, A., & Dillak, V. J. (2023). Financial Performance: Diversification Strategy, Research and Development Intensity and Ownership an Empirical Study on Healthcare Industry. JASa (Jurnal Akuntansi, Audit dan Sistem Informasi Akuntansi), 7(2), 229-238. https://doi.org/10.36555/jasa.v7i2.2187.
Barney, J. B. (2001). Resource-based theories of competitive advantage: A ten-year retrospective on the resource-based view. Journal of Management, 27(6), 643-650. https://doi.org/10.1177/014920630102700602
Barney, J. B., Ketchen, D. J., & Wright, M. (2011). The future of resource-based theory. Journal of Management, 37(5), 1299-1315. https://doi.org/10.1177/0149206310391805
Carneiro, J., Cavalcanti, M. A. F. D., & Silva, J. F. d. (1997). Porter revisitado: Análise crítica da tipologia estratégica do mestre. Revista De Administração Contemporânea, 1(3), 7-30. https://doi.org/10.1590/s1415-65551997000300002
Castro-Herrera, D., Prost, K., Schäfer, Y., Kim, D., Yimer, F., Tadesse, M., … & Brüggemann, N. (2021). Nutrient dynamics during composting of human excreta, cattle manure, and organic waste affected by biochar. Journal of Environmental Quality, 51(1), 19-32. https://doi.org/10.1002/jeq2.20312
Chakrabarti, A., Singh, K., & Mahmood, I. (2007). Diversification and performance: evidence from East Asian firms. Strategic Management Journal, 28(2), 101-120.
Clegg, J. S. (2010). Revisiting the microtrabecular lattice. Cell Biology International, 34(11), 1105-1107. https://doi.org/10.1042/cbi20100511
Das, T., & Teng, B. (2000). A resource-based theory of strategic alliances. Journal of Management, 26(1), 31-61. https://doi.org/10.1177/014920630002600105
Gámez-García, D. C., Saldaña-Márquez, H., Gómez-Soberón, J. M., Higuera, R. C., & Arredondo-Rea, S. (2019). Life cycle assessment of residential streets from the perspective of favoring the human scale and reducing motorized traffic flow: From cradle to handover approach. Sustainable Cities and Society, 44, 332-342. https://doi.org/10.1016/j.scs.2018.10.018
Grant, R. M. (1991). The resource-based theory of competitive advantage: Implications for strategy formulation. California Management Review, 33(3), 114-135. https://doi.org/10.2307/41166664
Green, K. W., Inman, R. A., Brown, G., & Willis, T. H. (2005). Market orientation: Relation to structure and performance. Journal of Business & Industrial Marketing, 20(6), 276-284. https://doi.org/10.1108/08858620510618110
Hendiono, E. (2016). Pengaruh Diversifikasi Bisnis terhadap Risiko Bisnis dan Kinerja Perusahaan Manufaktur di Bursa Efek Indonesia [Doctoral dissertation, Universitas Brawijaya].
Hendiono, O. (2014). Karakteristik Perusahaan dan Risiko Sistematik pada Perusahaan Manufaktur [Doctoral dissertation, UNIVERSITAS AIRLANGGA].
Hitt, M. A., Xu, K., & Carnes, C. M. (2015). Resource based theory in operations management research. Journal of Operations Management, 41(1), 77-94. https://doi.org/10.1016/j.jom.2015.11.002
Jiang, W., & Cao, Z. (2023). Regional finite-fault source model for development of ground motion attenuation relationship in Sichuan, China. Structural Durability & Health Monitoring, 17(1), 37-54. https://doi.org/10.32604/sdhm.2022.013444
Ketchen, D. J., & Hult, G. T. M. (2011). Building theory about supply chain management: Some tools from the organizational sciences. Journal of Supply Chain Management, 47(2), 12-18. https://doi.org/10.1111/j.1745-493x.2011.03220.x
Kurniasih, A., & Restika, Y. (2015). The influence of macroeconomic indicators and foreign ownership on government bond yields: A case of Indonesia. Mediterranean Journal of Social Sciences. https://doi.org/10.5901/mjss.2015.v6n5s5p34
Kuryanto, B., & Syafruddin, M. (2008). Pengaruh Modal Intelektual Terhadap Kinerja Perusahaan. Dalam Simposium Nasional Akuntansi XI, Pontianak.
Maritan, A., & Lee, G. K. (2017). Bringing a resource and capability lens to resource allocation. Journal of Management, 43(8), 2609-2619. https://doi.org/10.1177/0149206317727585
Michael, S. C. (2000). Investments to create bargaining power: The case of franchising. Strategic Management Journal, 21(4), 497-514. https://doi.org/10.1002/(sici)1097-0266(200004)21:43.0.co;2-#
Mıcoluccı, F., Gottardo, M., Cavınato, C., Pavan, P., & Bolzonella, D. (2016). Mesophilic and thermophilic anaerobic digestion of the liquid fraction of pressed biowaste for high energy yields recovery. Waste Management, 48, 227-235. https://doi.org/10.1016/j.wasman.2015.09.031
Mouamer, F. M. A. (2011). The determinants of capital structure of Palestine‐listed companies. The Journal of Risk Finance, 12(3), 226-241. https://doi.org/10.1108/15265941111136969
Nursanti, S., Dida, S., Hidayat, M., & Afriandi, I. (2017, November). Communication Pattern of the Director of Regional Hospital in the implementation of Health Decentralization in Indonesia. In Third International Conference on Social and Political Sciences (ICSPS 2017) (pp. 261-266). Atlantis Press.
Ortega, M. (2010). Competitive strategies and firm performance: Technological capabilities' moderating roles. Journal of Business Research, 63(12), 1273-1281. https://doi.org/10.1016/j.jbusres.2009.09.007
Peteraf, M. A. (1993). The cornerstones of competitive advantage: A resource‐based view. Strategic Management Journal, 14(3), 179-191. https://doi.org/10.1002/smj.4250140303
Porter, M. E. (1980). Industry structure and competitive strategy: Keys to profitability. Financial Analysts Journal, 36(4), 30-41.
Porter, M. E. (1997). Competitive strategy. Measuring Business Excellence, 1(2), 12-17. https://doi.org/10.1108/eb025476
Prasetyo, F. B., Inayah, F., Widyarsa, I., Pasteris, M., Rizal, Y. K., Setiariadi, M. H., ... & Heriyanto, H. (2014, August). Success story: Improving zonal isolation with engineering microcement to enhance oil production in Tiung Biru Field. In IADC/SPE Asia Pacific Drilling Technology Conference and Exhibition (pp. SPE-170517). SPE.
Preston, M., & Salim, R. M. A. (2019). Parenting style, proactive personality, and career decision self-efficacy among senior high school students. HUMANITAS: Indonesian Psychological Journal, 16(2), 116. https://doi.org/10.26555/humanitas.v16i2.12174.
Retnani, Y., Widiarti, W., Amiroh, I., Herawati, L., & Satoto, K. B. (2009). Storage capacity and palatability of wafer complete ration based on sugar cane top and bagasse on calves. Media Peternakan, 32(2).
Salavou, H. (2013). Hybrid strategies in Greece: A pleasant surprise. European Business Review, 25(3), 301-314. https://doi.org/10.1108/09555341311314834
Sari, P. I. P., & Abundanti, N. (2014). Pengaruh pertumbuhan perusahaan dan leverage terhadap profitabilitas dan nilai perusahaan [Doctoral dissertation, Udayana University].
Satria, R., & Shahbana, E. B. (2020). The SWOT analysis of strengthening character education in junior high school. Jurnal Iqra' : Kajian Ilmu Pendidikan, 5(2), 56-67. https://doi.org/10.25217/ji.v5i2.827
Sirojudin, G. A., & Nazaruddin, I. (2014). The influence of intellectual capital and its disclosure on the value and performance of the company. Journal of Accounting and Investment, 15(2), 77-89.
Sulastri. (2015). Pengaruh Strategi Diversifikasi Terhadap Kinerja Keuangan Perusahaan Dengan Struktur Modal Sebagai Variabel Intervening. Jurnal Akuntansi Unesa, 3(2), 29.
Surya, R. A., Purwanto, M. Y. J., Sapei, A., & Widiatmaka, W. (2015). Pengembangan kebijakan pengelolaan air baku berkelanjutan di sub das Konaweha Kabupaten Konawe Sulawesi Tenggara. Jurnal Analisis Kebijakan Kehutanan, 12(3), 263-282. https://doi.org/10.20886/jakk.2015.12.3.263-282
Warnier, V., Weppe, X., & Lecocq, X. (2013). Extending resource-based theory: Considering strategic, ordinary and junk resources. Management Decision, 51(7), 1359-1379. https://doi.org/10.1108/md-05-2012-0392
Welch, V., Ghogomu, E., Hossain, A., Awasthi, S., Bhutta, Z., Cumberbatch, C., … & Wells, G. A. (2016). Deworming and adjuvant interventions for improving the developmental health and well‐being of children in low‐ and middle‐income countries: A systematic review and network meta‐analysis. Campbell Systematic Reviews, 12(1), 1-383. https://doi.org/10.4073/csr.2016.7
Wiguna, P. K. S., Martini, N. N. P., Qomariah, N., Satoto, E. B., & Thamrin, M. (2022). The Role of Leadership, Employee Commitment and Organizational Citizenship Behavior on Employee Performance Improvement. Business Travel, 85, 0.
Windyaraini, D. H., Marsifah, T., Mustangin, Y., & Poerwanto, S. H. (2019). Detection of transovarial transmission of dengue virus in Aedes spp. (Diptera: Culicidae) from Brontokusuman Village, Yogyakarta, Indonesia. Biodiversitas Journal of Biological Diversity, 20(7). https://doi.org/10.13057/biodiv/d200737