Pengaruh Internasionalisasi, Afiliasi Bisnis, dan Research & Development terhadap Kinerja Perusahaan Manufaktur di Indonesia

Prastica Astrid Octaviandini Chadys, Liyu Adhi Kasari Sulung, Mutiara Baby Admeinasthi

Research output: Contribution to journalArticlepeer-review

Abstract

This study aims to identify the influence of internationalization, the number of business affiliation, the existence of business affiliation abroad, and the intensity of R&D on the performance of manufacturing companies listed at the Indonesia Stock Exchange during the period of 2011-2015. This study measures company's internationality using the ratio of company's foreign sales to its total sales. The number of business affiliation owned by the company is counted based on the data recorded in the company's financial report. The existence of company's business affiliation abroad is indicated by dummy variable. The intensity of company's R&D is measured using the ratio of R&D expenditure to company's total sales. Meanwhile, firm performance is measured by using two proxies, i.e. Return on Assets (ROA) and Tobin's Q. By means of panel data analysis, the result of this study shows that internationalization negatively affects firm performance, the number of business affiliation positively affects the ROA but negatively affects Tobin's Q, andthe existence of affiliation abroad and the R&D intensity positively affect firm performance.
Original languageEnglish
Pages (from-to)62-75
JournalJurnal Siasat Bisnis
Volume22
Issue number1
DOIs
Publication statusPublished - Apr 2018

Keywords

  • manufacturing firm
  • internationalization
  • business group affiliation
  • research & development
  • company performance

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