Intellectual Capital, Islamic Corporate Social Responsibility, Enterprise Risk Management, and Financial Performance of Halal Industry Companies
Keywords:
Intellectual Capital, Islamic Corporate Sosial Responbility, Enterprise Risk Management, Financial Performance, Halal Industry CompaniesAbstract
This study aims to determine the effect of Intellectual Capital, Islamic Corporate Social Responsibility, and Enterprise Risk Management on the Financial Performance of Halal Industry Companies Listed on the IDX. The population in this study is industrial sector companies. The sampling technique used in this study is purposive sampling. The analysis technique used in this study uses Statistical Product and Service Solutions (SPSS). Based on the results of the study, it can be concluded that Intellectual Capital, Islamic Corporate Social Responsibility, and Enterprise Risk Management have a partial effect on Financial Performance.
References
[1] A. Paramita, H. Ali, and F. Dwikoco, "The Influence of Halal Labeling, Product Quality, and Purchase Interest on Purchasing Decisions (Literature Review of Marketing Management)," J. Management. Education. and Social Sciences. , Vol. 3, No. 2, Pp. 660-669, 2022.
[2] R. Qoniah, "Challenges and Strategies for Increasing Indonesian Halal Product Exports in the Global Market," Halal Res. J. , Vol. 2, No. 1, Pp. 52-63, 2022, Doi: 10.12962/J22759970.V2i1.246.
[3] AS Hidayat and M. Siradj, "Legal Arguments of Halal Product Guarantee," Bimas Islam , Vol. 8, No. 01, Pp. 31-66, 2015.
[4] S. Hermawan, S. Biduri, And SW Arista, "Intellectual Capital, Islamic Philanthropy, And Sustainability Development Goals : An Interpretive Management Accounting Research," Fokus Bisnis Media Pengkaja. Manaj. Dan Akunt. , Vol. 24, No. 1, Pp. 1-20, 2025.
[5] S. Hermawan, N. Fediyanto, And W. Hariyanto, Intellectual Capital, Innovation, And Curriculum Of Accounting Study Program Based On The Industrial Revolution 4.0 . 2023. Doi: Https://Doi.Org/10.21070/2022/978-623-464-066-3.
[6] S. Hermawan, D. Andriani, And E. Maryati, Mapping Intellectual Capital Research With Bibliometric Analysis . 2021. Doi: 10.21070/2021/978-623-6081-28-0.
[7] S. Hermawan, S. Biduri, and SW Arista, "Monograph on Intellectual Capital and Islamic Philanthropy in," In Minhaj Pustaka , 2025, pp. 1-91.
[8] W. Hariyanto and S. Hermawan, "Green Intellectual Capital, Performance and Research Agenda," Accounting. J. Accounting. Integr. , Vol. 11, No. 01, 2025.
[9] Santoso, "The Influence of Intellectual Capital and its Disclosure on Company Performance," J. Accounting and Finance , Vol. 14, No. 1, Pp. 16-31, 2011, Doi: 10.9744/Jak.14.1.16-31.
[10] P. Koleva, "Towards The Development Of An Empirical Model For Islamic Corporate Social Responsibility: Evidence From The Middle East," J. Bus. Ethics , Vol. 171, no. 4, Pp. 789-813, 2021, Doi: 10.1007/S10551-020-04465-W.
[11] N. Febriany, "The Influence of Intellectual Capital on Company Financial Performance," Compartment J. Ilm. Account. , Vol. 18, No. 1, Pp. 69-82, 2019, Doi: 10.37278/Insearch.V18i1.138.
[12] S. Hermawan, R. Octavia, and E. Maryanti, Intellectual Capital, Financial Performance, and Competitive Advantage : Evidence from Islamic Banking in Indonesia and Malaysia . 2020. [Online]. Available: Http://Link.Springer.Com/10.1007/978-3-319-59379-1%0ahttp://Dx.Doi.Org/10.1016/B978-0-12-420070-8.00002-7%0ahttp://Dx.Doi.Org/10.1016/J.Ab.2015.03.024%0ahttps://Doi.Org/10.1080/07352689.2018.1441103%0ahttp://Www.Chile.Bmw-Motorrad.Cl/Sync/Showroom/Lam/Es/
[13] S. Hermawan and N. Fediyanto, "The Meaning of Ranking and Improving Higher Education Performance from an Intellectual Capital Perspective," pp. 142-154, 2019.
[14] Ni Wayan Yuniasih, DG Wirama, and IDN Badera, "Exploration of Company Market Performance: A Study Based on Intellectual Capital (Empirical Study of Financial Companies Listed on the Indonesia Stock Exchange)," Simp. Nas. Account. Xiii , No. 19, P. 6, 2015.
[15] S. Hermawan And W. Hariyanto, "Improving Lazismu Performance In The Perspective Of Modern Philanthropy, Shariah Enterprise Theory, And Comprehensive Intellectual Capital Management," J. Account. Sci. , Vol. 6, no. 2, Pp. 187-196, 2022, Doi: 10.21070/Jas.V6i2.1616.
[16] AE Saragih and UT Sihombing, "The Effect of Intellectual Capital, Good Corporate Governance, and Company Size on the Financial Performance of Banking Companies Listed on the Indonesia Stock Exchange," J. Ris. Account. Finance. , Vol. 7, No. 1, Pp. 1-17, 2021, Doi: 10.54367/Jrak.V7i1.1133.
[17] P. Gani, "The Influence of Intellectual Capital on Financial Performance and Market Value of Companies in Indonesia," Own. Ris. J. Account. , Vol. 6, No. 1, Pp. 1-15, 2022, [Online]. Available: Http://Ejournal-S1.Undip.Ac.Id/Index.Php/Accounting
[18] A. Pulic, "Vaic tm : An Accounting Tool For IC Management.," Int. J. Technol. Manag. , Vol. 20, Pp. 702-714, 2020, Doi: Https://Doi.Org/10.1504/Ijtm.2000.002891.
[19] TM Oktavia And Fuad, "The Influence of Intellectual Capital on Financial Performance in Indonesia," Diponegoro J. Account. , Vol. 4, No. 2, Pp. 1-14, 2015.
[20] S. Ishak, J. Abdullah, Saprudin, and W. Hasan, "The Influence of Intellectual Capital and Company Size on Company Financial Performance: An Empirical Study of Banking Companies on the Indonesia Stock Exchange," J. Ilm. Account. and Business , Vol. 9, No. 1, Pp. 1-106, 2024.
[21] E. Noviarta, B. Sagala, R. Setiawati, and A. Solikhin, "The Effect of Green Intellectual Capital on Financial Performance with Family Ownership as a Moderating Variable," Econ. J. Econ. Bus. , Vol. 9, No. 1, Pp. 575-582, 2025, Doi: 10.33087/Ekonomis.V9i1.2459.
[22] T. Haryati, AA Wilasittha, and SY Putri, "Implementation of Governance and Social Responsibility in Supporting the Financial Performance of Indonesian Sharia Stocks," Own. Ris. J. Account. , Vol. 8, No. 3, Pp. 2941-2951, 2024, Doi: 10.33395/Owner.V8i3.2272.
[23] RG Mais, M. Munir, and N. Nuryasa, "The Effect of Islamic Corporate Social Responsibility and Sharia Governance on Company Financial Performance," Equilib. J. Econ. , Vol. 19, No. 1, P. 42, 2023, Doi: 10.30742/Equilibrium.V19i1.2792.
[24] MFA Mutaz, E. Hernawati, and A. Maulana, "The Effect of Enterprise Risk Management on Corporate Financial Performance," Equity , Vol. 24, No. 2, Pp. 243-260, 2021, Doi: 10.34209/Equ.V24i2.2686.
[25] TW Adi, "The Influence Of Risk Management On Financial Performance And Firm Value: A Case Study On Companies Of Crude Petroleum And Natural Gas Production Sector Listed At The Idx 2016 - 2019," Eur. J. Bus. Manag. , Vol. 12, no. 23, 2020.
[26] I. Kamaluddin and AK Khusnia, "Implementation of CSR for the Benefit of Stakeholders from the Maqashid Syari'ah Perspective at Bank Bukopin Syari'ah Indonesia," Mamen J. Manaj. , Vol. 4, No. 2, Pp. 134-142, 2025, Doi: 10.55123/Mamen.V4i2.5051.
[27] N. Sudirman, Rifqiansyah, and Darmono, "Literature Study : Analysis of Financial Performance in Manufacturing Companies on the Indonesia Stock Exchange Reviewed from a Signaling Theory Perspective," Accounting, Business and Finance. , Vol. 4, No. 3, Pp. 274-284, 2024.
[28] YZ Arifah and LA Africa, "The Effect of Liquidity, Leverage, Profitability, Cash Holding on Company Value in Banks Listed on the Indonesia Stock Exchange," Journal of Management Accounting , Vol. 8, No. 1, 2025.
[29] AK Putri And D. Ambarita, "The Effect of Tax Planning, Tax Avoidance and Capital Structure on Company Value," J. Accounting. Finance. and Taxation. , Vol. 01, No. 03, P. 257, 2025, Doi: 10.31575/Jp.V7i2.500.
[30] Subagyo, "The Influence of Intellectual Capital on the Financial Performance of the Banking Sector," J. Ris. Accounting and Finance. , Vol. 2, No. 1, Pp. 251-260, 2014.
[31] BN Habibah and IB Riharjo, "The Influence of Intellectual Capital on Financial Performance in Manufacturing Companies," J. Science and Research. Accounting. , Vol. 5, No. 7, Pp. 1-16, 2016.
[32] MP Maulidia and R. Fahlevi, "The Influence of Intellectual Capital, Islamic Corporate Social Responsibility and Zakat on the Financial Performance of Islamic Commercial Banks for the 2012-2020 Period," Maslahah (Journal of Islamic Law and Islamic Banking) , Vol. 13, No. 1, Pp. 65-86, 2022, Doi: 10.33558/Maslahah.V13i1.4454.
[33] M. Faiq and A. Septiani, "Analysis of the Influence of Enterprise Risk Management Implementation on Company Performance and Value," Diponegoro J. Account. , Vol. 9, No. 4, Pp. 1-11, 2020.
[34] WH Nugroho, Adi Sulistyo, Quantitative Research Methods with a Statistical Approach: (Theory, Implementation & Practice with Spss) . Andi, 2022.
[35] I. Ghozali, Multivariate Analysis Application with the IBM SPSS 25 Program , 9th Ed. Semarang: Diponegoro University Publishing Agency, 2018.
[36] A. Ramadhani and H. Agustin, "The Effect of Intellectual Capital and Corporate Governance on Financial Performance: An Empirical Study of State-Owned Enterprises Listed on the Indonesia Stock Exchange in 2015-2019," J. Eksplor. Akunt. , Vol. 3, No. 1, Pp. 67-81, 2021, Doi: Https://Doi.Org/10.24036/Jea.V3i1.336.
[37] I. Ghozali And A. Chariri, "Ihyaul Ulum (Fe of Muhammadiyah University of Malang)," Simp. Nas. Accountant. Xi , Vol. 19, no. 19, pp. 1-31, 2018.
[38] R. Utami and MW Yusniar, "Disclosure of Islamic Corporate Social Responsibility (ICSR) and Good Corporate Governance (GCG) on Company Value with Financial Performance as an Intervening Variable," El Muhasaba J. Accountant. , Vol. 11, No. 2, Pp. 162-176, 2020, Doi: 10.18860/Em.V11i2.8922.
[39] B. Wediawati and R. Setiawati, "The Effect of Intellectual Capital and Enterprise Risk Management on Company Value with Financial Performance as an Intervening Variable (On Pharmaceutical Companies Listed on the Indonesia Stock Exchange for the 2018-2021 Period)," Econ. J. Econ. Bus. , Vol. 8, No. 1, Pp. 593-597, 2024.
[40] MF Dinoyu And A. Septiani, "Analysis of the Influence of Enterprise Risk Management Implementation on Company Performance and Value," Diponegoro J. Account. , Vol. J9, No. 4, 2020.
[41] MF Malik, M. Zaman, And S. Buckby, "Enterprise Risk Management Aind Firm Performance: Role Of The Risk Committee," J. Contemp. Accounts. Econ. , Vol. 16, no. 1, 2020.
Downloads
Published
How to Cite
Issue
Section
License
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
