Corporate Innovation Mediates the Relationship Between Gender Diversity on Firm Performance as Implementation of SDG's Number 5
Inovasi Perusahaan Memediasi Hubungan antara Diversitas Gender terhadap Kinerja Perusahaan sebagai Implementasi SDG's No. 5
DOI:
https://doi.org/10.21070/ups.4742Keywords:
Corporate Innovation, Gender Diversity, Firm PerformanceAbstract
This study aims to examine the effect of corporate innovation in mediating the relationship between gender diversity and corporate performance as the implementation of SDGs No. 5. Data were taken from manufacturing companies listed on the Indonesia Stock Exchange (IDX) in 2018-2022. The analysis technique in this study used SmartPLS 3 software. The results showed that gender diversity has an effect on company performance, further found that gender diversity has no effect on corporate innovation. In contrast to corporate innovation which affects company performance, corporate innovation cannot mediate the relationship between gender diversity and company performance. The results of this study are expected to help provide a strong foundation to support the implementation of business strategies and policies that focus on creating an inclusive, supportive, and innovative work environment by leveraging gender diversity to support better organizational performance.
Downloads
References
M. Galib and M. Hidayat, “Analysis of Company Performance Using the Balanced Scorecard Approach in Bosowa Propertindo.,” Seiko J. Manag. Bus., vol. 2, no. 1, pp. 92–112, 2018, [Online]. Available: https://journal.stieamkop.ac.id/index.php/seiko
G. P. Widi and H. Barry, “Faktor-faktor yang Mempengaruhi Intensitas R&D pada Perusahaan Manufaktur yang Terdaftar di BEI 2015-2018,” vol. 1, no. 1, 2020.
K. Raed, “Dividend Policy and Companies” Financial Performance,” J. Asian Financ. Econ. Bus., vol. 7, no. 10, pp. 531–542, 2020, doi: 10.13106/jafeb.2020.vol7.no10.531.
R. M. Azka, “Laba Bersih Kimia Farma (KAEF) Tembus Rp302 Miliar, Naik 16 Kali Lipat,” Bisnis.com, 2022. https://market.bisnis.com/read/20220331/192/1517335/laba-bersih-kimia-farma-kaef-tembus-rp302-miliar-naik-16-kali-lipat (accessed Nov. 25, 2023).
R. Raharjanti, “Gender Diversity , Struktur Kepemilikan , Dan Perbankan Di Indonesia,” J. Aktual Akunt. Keuang. Bisnis Terap., vol. 2, no. 2, pp. 133–142, 2019, [Online]. Available: https://media.neliti.com/media/publications/254870-pengaruh-gender-diversity-eksekutif-terh-b351535b.pdf
S. Nur and W. Mawardi, “Pengaruh Board Diversity Terhadap Kinerja Perusahaan Dengan Kepemilikan Institusional Sebagai Variabel Moderating,” Diponegoro J. Manag., vol. 12, no. 1, pp. 1–14, 2023, [Online]. Available: http://ejournal-s1.undip.ac.id/index.php/dbr
A. Dwi, S. Putri, and S. Biduri, “Board Diversity Terhadap Nilai Perusahaan Dalam Perspektif Corporate Governance ( Studi Pada Perusahaan Sektor Manufaktur Industri Makanan Dan Minuman yang Terdaftar di Bursa Efek Indonesia Tahun 2016-2021 ) Board Diversity On Firm Value in The Corporate ,” pp. 1–14, 2021.
I. Dwiastuti, A. Raharyo, M. Farid, and ..., “Komitmen Indonesia dalam Implementasi SDGs Nomor 5 untuk Menjamin Keamanan Manusia Khususnya Perempuan (2015-2021)[Indonesia’s Commitment on the …,” Int. Relations J., pp. 1–17, 2022, [Online]. Available: https://ojs.uph.edu/index.php/JHIV/article/view/5901%0Ahttps://ojs.uph.edu/index.php/JHIV/article/download/5901/2656
S. E. Arvanitis, E. G. Varouchas, and G. M. Agiomirgianakis, “Does Board Gender Diversity Really Improve Firm Performance? Evidence from Greek Listed Firms,” J. Risk Financ. Manag., vol. 15, no. 7, 2022, doi: 10.3390/jrfm15070306.
Q. A. Khan, A. W., & Subhan, “Impact of Board diversity and audit on kinerja perusahaan,” Cogent Bus. Manag., vol. 6(1), 2019, doi: https://doi.org/10.1080/23311975.2019.1611719.
D. C. Hambrick, “Upper echelons theory: An update. In: Academy of Management Briarcliff Manor, NY 10510,” 2007.
et al Lim, K. P., “Women directors and performance: evidence from Malaysia. Equality, Diversity and Inclusion: An International Journal,” 2019.
B. B. Ararat, M., & Yurtoglu, “Female directors, board committees, and kinerja perusahaan: Time-series evidence from Turkey,” Emerg. Mark. Rev., vol. 48,100768, 2021, doi: https://doi.org/10.1016/j.ememar.2020.100768.
F. Fernandez-Temprano, M. A., & Tejerina-Gaite, “Types of director, Board diversity and kinerja perusahaan,” Corp. Gov., vol. 20(2), pp. 324–342, 2020, doi: https://doi.org/10.1108/CG-03-2019-0096.
M. Gruszczyriski, “Women on Boards and Kinerja perusahaan: A Microeconometric Search for a Connection,” J. Risk Financ. Manag., vol. 19(9), p. 218, 2020, doi: https://doi.org/10.3390/jrfm13090218.
K. Kurniawati, I. Kamul, Y. J. Richard, and P. Julianti, “Pengaruh Keragaman Dewan Direksi, Komisaris Independen dan Konsentrasi Kepemilikan Terhadap Inovasi,” Balanc. Vocat. Account. J., vol. 4, no. 1, p. 13, 2020, doi: 10.31000/bvaj.v4i1.2700.
I. Bouchmel, J. El Ouakdi, Z. Ftiti, W. Louhichi, and A. Omri, “The Mediating Effect of Corporate Innovation on the Relationship Between Gender Diversity and Firm Performance L’effet médiateur de l’innovation dans la relation entre la diversité du genre et la performance de l’entreprise El efecto mediador de la innova,” 2023, [Online]. Available: https://id.erudit.org/iderudit/1088439ar
K. H. Song, H. J., Yoon, Y. N., & Kang, “The relationship between Board diversity and kinerja perusahaan in the lodging industry: The moderating role of internationalization,” Int. J. Hosp. Manag., vol. 86, 2020, doi: 102461. https://doi.org/10.1016/j.ijhm.2020.102461.
R. Setiawan, N. Nareswari, and P. A. I. S. Suryana, “Diversitas Gender Dewan Direksi, Risiko, dan Kinerja Perusahaan,” J. Mirai Manaj., vol. 7, no. 1, pp. 231–241, 2022.
J. Roh, J., and Koo, “The impacts of diversity on team innovation and the moderating effects of cooperative team culture,” Int. Rev. Public Adm., vol. 24(4), pp. 246–263, 2019, doi: https://doi.org/10.1080/12294659.2019.1688124.
K. Na and K. Shin, “The gender effect on a firm’s innovative activities in the emerging economies,” Sustain., vol. 11, no. 7, pp. 1–24, 2019, doi: 10.3390/su11071992.
A. Zuraik and L. Kelly, “The role of CEO transformational leadership and innovation climate in exploration and exploitation,” Eur. J. Innov. Manag., vol. 22, no. 1, pp. 84–104, 2019, doi: 10.1108/EJIM-10-2017-0142.
C. K. Jha and S. Sarangi, “Women and corruption: What positions must they hold to make a difference?,” J. Econ. Behav. Organ., vol. 151, no. 2013, pp. 219–233, 2018, doi: 10.1016/j.jebo.2018.03.021.
K. P. Chen, J., Leung, W. S., and Evans, “Female board representation, corporate innovation and firm performance,” J. Empir. Financ., vol. 48, pp. 236–254, 2018, doi: https://doi.org/10.1016/j.jempfin.2018.07.003.
F. Ezzi and A. Jarboui, “Does innovation strategy affect financial, social and environmental performance?,” J. Econ. Financ. Adm. Sci., vol. 21, no. 40, pp. 14–24, 2016, doi: 10.1016/j.jefas.2016.03.001.
B. Wernelfet, “The resource-based view of the firm,” J. Manage., vol. 27, no. 2, pp. 625–641, 2001.
R. Shen, Y. Tang, and Y. Zhang, “Does Firm Innovation Affect Corporate Social Responsibility?,” SSRN Electron. J., 2016, doi: 10.2139/ssrn.2807438.
D. G. Dezsö, C. L., and Ross, “Does female representation in top management improve firm performance? A panel data investigation,” Strateg. Manag. J., vol. 33(9), pp. 1072–1089, 2012, doi: https://doi.org/10.1002/smj.1955.
R. B. Adams and D. Ferreira, “Women in the boardroom and their impact on governance and performance,” J. Financ. Econ., vol. 94, no. 2, pp. 291–309, 2009.
M. R. Nurwahyudi and Mudasetia, “Pengaruh Gender Wanita Dalam Dewan Direksi Terhadap Kinerja Keuangan Studi Pada Perusahaan Yang Masuk Index Kompas 100 Tahun 2014-2015,” J. Stie Semarang, vol. 12, no. 2, pp. 2252–7826, 2020.
W. R. Scott, Financial Accounting Theory 6th edition. 2012.
E. J. Baghdadi, G. A., Bhatti, I. M., Nguyen, L. H., & Podolski, “Skill or effort? Institutional ownership and managerial efficiency,” J. Bank. Financ., vol. 91, pp. 19–33, 2018, doi: doi:https://doi.org/10.1016/j.jbankfin.2018.04.002.
T. Kieso, E., D., W., J., J, , & Warfield., D., “Intermediate accounting. New Jersey: John Wiley & Sons, Inc,” 2015.
E. E. Yusdita, “Periklanan Dalam Implementasi Strategi dan Implikasinya Pada Kinerja Keuangan Perusahaan Consumer Goods di Indonesia,” Assets J. Akunt. dan Pendidik., vol. 5(1), pp. 73–88, 2017, doi: http://doi.org/10.25273/jap.v5i1.1190.
K. Yulita and Z. Fanani, “The Effect Of Innovation Strategy In The Influence Of Managerial Ability On Firm Performance,” J. Reviu Akunt. dan Keuang., vol. 11, no. 3, pp. 525–536, 2021, doi: 10.22219/jrak.v11i3.14956.
OECD, “G20/OECD Principles of Corporate Governance,” OECD, 2015.
D. Lestari and S. Nurjanah, “Mengukur Kinerja yang Ditinjau Dari Inovasi dan Governance,” J. Bus. Econ. Res., vol. 3, no. 1, pp. 16–22, 2022, doi: 10.47065/jbe.v3i1.1343.
D. Sudiantini, “Leaders and Culture - Bagaimana Strategi Meningkatkan Kinerja Layanan Publik,” 2020.
B. ; S. et Al., “Spatial Transformation of a New City in 2006 – 2020 : Perspectives on the Spatial Dynamics , Environmental Quality Degradation , and Socio,” Econ. L., vol. 9, no. 324, p. 150, 2020.
W. A. and J. Hartono, Partial least square (PLS) : Alternatif structural equation modeling (SEM) dalam penelitian bisnis, 1st ed. 2015.
Ghozali, Aplikasi Analisis Multivariate Dengan Program Ibm SPSS 21 Update PLS Regresi. Badan Penerbit Universitas Diponegoro, 2013.
K. P. and K. Thenikusuma, “The Role of the Capital Market on the Economy,” ‖ SSRN Electron. J, 2020, doi: 10.2139/ssrn.3523162.
L. H. Nishii and M. F. Özbilgi, “Global diversity management: towards a conceptual framework,” Int. J. Hum. Resour. Manag., vol. 18, no. 11, pp. 1883–1894, 2018, doi: https://doi.org/10.1080/09585190701638077.
D. A. Carter, B. J. Simkins, and W. G. Simpson, “Corporate Governance, Board Diversity, and Firm Value,” Financ. Rev., vol. 38, pp. 33–53, 2003, doi: https://doi.org/10.2469/dig.v33.n3.1310.
J. P. Gonzales-Bustos, A. B. Hernández-Lara, and X. Li, “Board effects on innovation in family and non-family business,” Heliyon, vol. 6, no. 9, 2020, doi: 10.1016/j.heliyon.2020.e04980.
N. Kaur and P. Arora, “Acknowledging gender diversity and inclusion as key to organizational growth: A review and trends,” J. Crit. Rev., vol. 7, no. 6, pp. 125–131, 2020, doi: 10.31838/jcr.07.06.25.
K. Iren, P., and Tee, “Boardroom diversity and innovation in the UAE banks,” Int. J. Innov. Manag., vol. 22(3), pp. 1–29, 2018, doi: https://doi.org/10.1142/S1363919618500299.
S. Bianchi Martini, A. Corvino, and A. Rigolini, “Board diversity and structure: What implications for investments in innovation? Empirical evidence from Italian context,” Corp. Ownersh. Control, vol. 10, no. 1 A, pp. 9–25, 2012, doi: 10.22495/cocv10i1art1.
Y. C. Ruiqi Wang, Wang Fangjun, Xu Luying, “R&D expenditures, ultimate ownership and future performance: Evidence from China,” J. Bus. Res., vol. 71, pp. 47–54, 2017, doi: https://doi.org/10.1016/j.jbusres.2016.10.018.
R. Manita, “Does board gender diversity affect firm firm performance? Evidence frm teh French SMEs,” Int. J. Enerpreneursh. Small Bussiness4, vol. 41, no. 4, pp. 584–603, 2020, doi: https://doi.org/10.1504/IJESB.2020.111580.
D. Andriani, “Analisis Balance Scorecard (Bsc )Sebagai Alat Pengukur Kinerja Pada Pt. Novell Pharmaceutical Laboratories Cabang Pekanbaru,” p. 72, 2014, [Online]. Available: http://repository.uin-suska.ac.id/4777/
F. Rakasiwi Syamsuddin, “SEIKO : Journal of Management & Business Diversitas Gender dalam Dewan Direksi dan Kinerja Innovasi Perusahaan,” SEIKO J. Manag. Bus., vol. 6, no. 1, pp. 558–572, 2022, doi: 10.37531/sejaman.v6i1.3729.
Downloads
Additional Files
Posted
License
Copyright (c) 2024 UMSIDA Preprints Server
This work is licensed under a Creative Commons Attribution 4.0 International License.