PPT Artikel Fix IECON Unismuh Tahun 2025.pptx

PPT IECON

1. Ana Mardiana, Suwandy,Anthony Holly,Gafrilla Jeconia Antou The Role of Risk Management in Mediating the Relationship Between Independent Commissioners and Audit Committees on Firm Value

2. Abstract This study analyzes the mediating role of risk management in the relationship between independent commissioners and audit committees on firm value. Using agency theory and stakeholder theory, the study examines the annual reports of 155 non-financial companies listed on the Indonesia Stock Exchange (IDX) from 2020 to 2024 . 1 Independent Commissioners Positive but not significant influence on risk management . 2 Audit Committees Positive and significant influence on risk management . 3 Risk Management Positive but not significant influence on firm value . 4 Firm Value Independent commissioners have a significant positive influence; audit committees have a negative but not significant influence .

3. Introduction: The Importance of Firm Value Firm value reflects a company's success and sustainability. The case of PT. Garuda Indonesia Tbk (2021) shows the negative impact of ineffective boards and management on firm value . Role of Independent Commissioners They oversee, advise the board of directors, and ensure that policies align with company goals. Risk management serves to protect firm value from potential losses . Role of Audit Committees They supervise financial and internal reports, ensuring that risks are managed properly to improve firm value

4. Theoretical Framework Agency Theory Describes the relationship between owners (principals) and management (agents), emphasizing efficient contracts to maximize firm value and minimize agency risks Stakeholder Theory A company must benefit all stakeholders (shareholders, employees, customers, etc.) to achieve long-term goals . Firm Value Investor perceptions of a company's success, reflected in its stock price Risk Management A process of identifying, analyzing, and controlling risks to minimize potential losses .

5. Research Methodology Purposive sampling using annual reports of 55 non-financial companies listed on IDX (2020–2024 ) . Data Type & Source Secondary documentary data from IDX annual reports . Jenis & Sumber Data Data dokumenter sekunder dari laporan tahunan BEI. Variable Measurement Firm Value(Tobin Q), Independt Commissioners (Proporsi), Audit Committee (Meeting’s), Risk Management (Indeks ISO 31000). Analysis Method Path Analysis

6. Statistical Test Results F-Test shows significant influence of independent variables on risk management and firm value. R²: 8.9% of risk management variation explained by independent commissioners and audit committees. 2.4% of firm value variation explained by the three variables

7. Based on the analysis of the data previously tested, the conclusions of this study are as follows: Independent commissioners have a positive but not significant influence on risk management. This indicates that the greater the number of independent board members, the more risk management may improve. However, the increase in independent commissioners does not significantly affect the company's risk management. The audit committee has a positive and significant influence on risk management. This suggests that the more frequently audit committee meetings are held, the more enhanced the company’s risk management becomes. The frequency of audit committee meetings significantly impacts risk management. Risk management has a positive but not significant influence on firm value. This means that as a company’s risk management improves, its firm value tends to increase, although the effect is not statistically significant. Discussion of Results

8. Based on the analysis of the data previously tested, the conclusions of this study are as follows: 4. Independent commissioners have a positive and significant influence on firm value. An increase in the number of independent commissioners enhances firm value because it results in tighter supervision of the management. 5. The audit committee has a negative and not significant influence on firm value. More frequent audit committee meetings may lower firm value, likely due to the lack of quality or effectiveness in those meetings 6. Risk management does not mediate the influence of independent commissioners on firm value 7. Risk management does not mediate the influence of the audit committee on firm value Discussion of Results

9. Conclusion & Implications Risk management does not mediate the effect of independent commissioners or audit committees on firm value . Theoretical Implications Support stakeholder theory (Freeman, 1984) dan Agency theory (Jensen & Meckling, 1976) in corporate governance. Practical Implications Companies must ensure good governance and proper risk identification to maintain investor confidence .