THE IMPACT OF GOOD CORPORATE GOVERNANCE AND ENTERPRISE RESOURCE PLANNING ON FINANCIAL PERFORMANCE
Abstract
This study examines how Good Corporate Governance (GCG) and the implementations of Enterprise Resource Planning (ERP) system affect financial performance (NPM, OPM). The analysis concentrated on manufacturing firms in the food and beverage subsector that were listed between 2020 and 2024 on the Indonesian Stock Exchange (IDX). Using purposive sampling, 41 companies being selected as samples, with a total of 205 observations. Secondary data was analyzed using panel data regression in Eviews 10. The results showed that GCG had no positive significant effect on NPM, GCG had no positive significant effect on OPM, the implementation of ERP had a positive significant effect on NPM, the implementation of ERP had a positive significant effect on OPM and simultaneously GCG and ERP use had a significant effect on NPM and OPM.
References
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Lendrawati, A., & Abdi, M. (2021). Pengaruh Efisiensi, Efektivitas, dan Leverage Terhadap Kinerja Keuangan Perusahaan Publik Bisnis Ritel. https://doi.org/https://doi.org/10.24912/jmk.v3i3.13131
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Organisation for Economic Co-operation and Development. (2023). G20/OECD Principles of Corporate Governance 2023. OECD. https://doi.org/10.1787/ed750b30-en
Purwanti, M., & Ekani, I. (2024). Pengaruh Good Corporate Governance dan Efisiensi Operasi Terhadap Kinerja Keuangan pada Perusahaan BUMN Tahun 2020-2022. Study & Accounting Research, 21 (2), 51–62. https://doi.org/https://doi.org/10.55916/jsar.v21i2.172
Putra, D. G., Rahayu, R., & Putri, A. (2021). The Influence of Enterprise Resource Planning (ERP) Implementation System on Company Performance Mediated by Organizational Capabilities. Journal of Accounting and Investment, 22(2), 221–241. https://doi.org/10.18196/jai.v22i2.10196
Rahman, R. A., Simon, Z. Z., Mahmud, A., & Lapae, K. (2023). Pengaruh OPM, NPM Dan TATO Terhadap Kinerja Keuangan Sebelum Dan Saat Terjadi Pandemi Covid-19 Pada Perusahaan Manufaktur Yang Terdaftar di Bursa Efek Indonesia. Jurnal Orientasi Bisnis Dan Entrepreneurship (JOBS), 3(2), 74–84. https://doi.org/10.33476/jobs.v3i2.2829
Rahmatin, M., & Kristanti, I. N. (2020). Pengaruh Good Corporate Governance, Leverage, Struktur Modal Dan Ukuran PerusahaanTerhadap Kinerja Keuangan Pada Perusahaan Sektor Aneka Industri Yang Terdaftar di Bursa Efek Indonesia. JIMMBA Jurnal Ilmiyah Mahasiswa Mnajemen, Bisnis, Dan Akuntansi, 655–669. https://doi.org/10.32639/jimmba.v2i4.623
Riyadh, H. A., Al-Shmam, M. A., & Rifqi, M. R. (2023). The Impact of Good Corporate Governance (GCG) on Manufacturing Financial Performance: Evidence of Listed Companies on the Stock Exchange (IDX). International Journal of Professional Business Review, 8(6), 1–17. https://doi.org/10.26668/businessreview/2023.v8i6.1656
Samad, M. A., Rahman, M., Sabbir, MD. M., & Uddin, S. M. (2023). Enhancing Organizational Performance in Bangladeshi Industries: The Role of Enterprise Resource Planning (ERP) Systems. Asian Review of Mechanical Engineering, 12(2), 19–27. https://doi.org/10.70112/arme-2023.12.2.4224
Sintowati Annisa Regita. (2023). Analisis PengaruhPenerapan Sistem Informasi Berbasis Enterprise Resources Planning Terhadap Kinerja Keuangan Perusahaan. Skripsi. Sarjana Akuntansi Universitas Islam Indonesia.
Sri Wulan, T., Wahyu Novika, P., Nurvianti, E., Arma Putra, F., & PGRI Banten, P. (2024). Impact of ERP System Implementation on Operational and Financial Efficiency in Manufacturing Industry. Journal of Economic Education and Entrepreneurship Studies, 5(3), 2024. https://doi.org/https://journal.unm.ac.id/index.php/JE3S/index
Tania, & Abdi Maswar. (2023). Pengaruh Efisiensi Operasional, Efektivitas Pemasaran, Dan Financial Leverage Terhadap Kinerja Keuangan Perusahaan Publik. Jurnal Manajerial Dan Kewirausahaan, 05(01), 76–83. https://doi.org/.https://doi.org/10.24912/jmk.v5i1.22515
Tarigan, Z. J. H., Siagian, H., & Jie, F. (2021). Impact of enhanced Enterprise Resource Planning (ERP) on firm performance through green supply chain management. Sustainability (Switzerland), 13(8). https://doi.org/10.3390/su13084358
Titania, H., & Taqwa, S. (2023). Pengaruh Good Corporate Governance terhadap Kinerja Keuangan Perusahaan. JURNAL EKSPLORASI AKUNTANSI, 5(3), 1224–1238. https://doi.org/10.24036/jea.v5i3.795
Utami, H., & Alamanos, E. (2023). Resource-Based Theory. https://open.ncl.ac.uk
Al-ahdal, W. M., Alsamhi, M. H., Tabash, M. I., & Farhan, N. H. S. (2020). The impact of corporate governance on financial performance of Indian and GCC listed firms: An empirical investigation. Research in International Business and Finance, 51, 1–13. https://doi.org/10.1016/j.ribaf.2019.101083
Al-Amin, M., Tanjim Hossain, M., Jahidul Islam, M., & Kumar Biwas, S. (2023). History, Features, Challenges, and Critical Success Factors of Enterprise Resource Planning (ERP) in The Era of Industry 4.0. European Scientific Journal, 19(6), 31. https://doi.org/10.19044/esj.2022.v19n6p31
Alienta, A., Julyana Lim, C., Juviani, E., & Suhardjo, I. (2023). SEIKO: Journal of Management & Business Implementasi Sistem Enterprise Resource Planning Berbasis SAP Pada PT XYZ. SEIKO: Journal of Management & Business, 6(1), 104–120. https://doi.org/10.37531/sejaman.v6i1.543
Alsurayyi, A. I., & Alsughayer, S. A. (2021). The Relationship between Corporate Governance and Firm Performance: The Effect of Internal Audit and Enterprise Resource Planning (ERP). Open Journal of Accounting, 10(02), 56–76. https://doi.org/10.4236/ojacct.2021.102006
Anandamaya, L. P. V., & Hermanto, S. H. (2021). Pengaruh Good Corporate Governance, Ukuran Perusahaan, Dan Leverage Terhadap Kinerja Keuangan. JIRA Jurnal Ilmu Dan Riset Akuntansi, 10.
Astuti, A., & Lestari, T. (2024). Pengaruh Kinerja Keuangan terhadap Nilai Perusahaan pada Perusahaan Bidang Manufaktur. Owner, 8(3), 2484–2499. https://doi.org/10.33395/owner.v8i3.2303
Bazhair, A. H. (2021). Corporate Governance Mechanism and Firm Performance in Saudi Arabia. Estudios de Economia Aplicada, 39(4), 1–10. https://doi.org/10.25115/eea.v39i4.4317
Christian, N., & Jullystella. (2021). Analisis Kasus PT. Tiga Pilar Sejahtera Food. Tbk dengan Shenaningans Keuangan. Jurnal Ilmiah MEA (Manajemen, Ekonomi, Dan Akuntansi), 5. https://doi.org/10.31955/mea.voI5.iss2.pp609-620
Espinoza Pérez, A. T., Rossit, D. A., Tohmé, F., & Vásquez, Ó. C. (2022). Mass customized/personalized manufacturing in Industry 4.0 and blockchain: Research challenges, main problems, and the design of an information architecture. Information Fusion, 79, 44–57. https://doi.org/10.1016/j.inffus.2021.09.021
Gusma Putra, D., & Rahayu, R. (2020). Peranan Implementasi Tata Kelola Teknologi Informasi (IT Governance) sebagai Faktor Penting dalam Meningkatkan Kinerja Perusahaan. Jurnal Inovasi Pendidikan Ekonomi, 10(1), 1–07. https://doi.org/10.24036/0110770
Hermuningsih, S., Kusuma, H., & Cahyarifida, R. A. (2020). Corporate Governance and Firm Performance: An Empirical Study from Indonesian Manufacturing Firms. Journal of Asian Finance, Economics and Business, 7(11), 827–834. https://doi.org/10.13106/jafeb.2020.vol7.no11.827
Insana, D. R. M., & Myndarto, E. C. (2019). Pengaruh Penggunaan Enterprise Research Planning Terhadap Kinerja Keuangan Perusahaan Sektor Customer Good di Bursa Efek Indonesia. In Journal of Applied Business and Economic (Vol. 5, Issue 4). https://doi.org/https://dx.doi.org/10.30998/jabe.v5i4.4187
Jay Barney. (1991). Firm Resourcesand Suatained Competitive Advantage. Journal of Management, Vol 17 (1), 99–120.
Jensen, M. C., & Meckling, W. H. (1976). THEORY OF THE FIRM: MANAGERIAL BEHAVIOR, AGENCY COSTS AND OWNERSHIP STRUCTURE. In Journal of Financial Economics (Vol. 3). Q North-Holland Publishing Company. https://doi.org/https://doi.org/10.1060/0304-405X(76)90026-X
Komite Nasional Kebijakan Governansi. (2021). Pedoman Umum Governansi Korporat Indonesia (PUG-KI) 2021.
Kyere, M., & Ausloos, M. (2020). Corporate governance and firm financial performance in the United Kingdom. International Journal of Finance and Economics, 26(2), 1871–1885. https://doi.org/10.1002/ijfe.1883
Lendrawati, A., & Abdi, M. (2021). Pengaruh Efisiensi, Efektivitas, dan Leverage Terhadap Kinerja Keuangan Perusahaan Publik Bisnis Ritel. https://doi.org/https://doi.org/10.24912/jmk.v3i3.13131
Mansour, M., Al Amosh, H., Alodat, A. Y., Khatib, S. F. A., & Saleh, M. W. A. (2022). The Relationship between Corporate Governance Quality and Firm Performance: The Moderating Role of Capital Structure. Sustainability (Switzerland), 14(17). https://doi.org/10.3390/su141710525
Organisation for Economic Co-operation and Development. (2023). G20/OECD Principles of Corporate Governance 2023. OECD. https://doi.org/10.1787/ed750b30-en
Purwanti, M., & Ekani, I. (2024). Pengaruh Good Corporate Governance dan Efisiensi Operasi Terhadap Kinerja Keuangan pada Perusahaan BUMN Tahun 2020-2022. Study & Accounting Research, 21 (2), 51–62. https://doi.org/https://doi.org/10.55916/jsar.v21i2.172
Putra, D. G., Rahayu, R., & Putri, A. (2021). The Influence of Enterprise Resource Planning (ERP) Implementation System on Company Performance Mediated by Organizational Capabilities. Journal of Accounting and Investment, 22(2), 221–241. https://doi.org/10.18196/jai.v22i2.10196
Rahman, R. A., Simon, Z. Z., Mahmud, A., & Lapae, K. (2023). Pengaruh OPM, NPM Dan TATO Terhadap Kinerja Keuangan Sebelum Dan Saat Terjadi Pandemi Covid-19 Pada Perusahaan Manufaktur Yang Terdaftar di Bursa Efek Indonesia. Jurnal Orientasi Bisnis Dan Entrepreneurship (JOBS), 3(2), 74–84. https://doi.org/10.33476/jobs.v3i2.2829
Rahmatin, M., & Kristanti, I. N. (2020). Pengaruh Good Corporate Governance, Leverage, Struktur Modal Dan Ukuran PerusahaanTerhadap Kinerja Keuangan Pada Perusahaan Sektor Aneka Industri Yang Terdaftar di Bursa Efek Indonesia. JIMMBA Jurnal Ilmiyah Mahasiswa Mnajemen, Bisnis, Dan Akuntansi, 655–669. https://doi.org/10.32639/jimmba.v2i4.623
Riyadh, H. A., Al-Shmam, M. A., & Rifqi, M. R. (2023). The Impact of Good Corporate Governance (GCG) on Manufacturing Financial Performance: Evidence of Listed Companies on the Stock Exchange (IDX). International Journal of Professional Business Review, 8(6), 1–17. https://doi.org/10.26668/businessreview/2023.v8i6.1656
Samad, M. A., Rahman, M., Sabbir, MD. M., & Uddin, S. M. (2023). Enhancing Organizational Performance in Bangladeshi Industries: The Role of Enterprise Resource Planning (ERP) Systems. Asian Review of Mechanical Engineering, 12(2), 19–27. https://doi.org/10.70112/arme-2023.12.2.4224
Sintowati Annisa Regita. (2023). Analisis PengaruhPenerapan Sistem Informasi Berbasis Enterprise Resources Planning Terhadap Kinerja Keuangan Perusahaan. Skripsi. Sarjana Akuntansi Universitas Islam Indonesia.
Sri Wulan, T., Wahyu Novika, P., Nurvianti, E., Arma Putra, F., & PGRI Banten, P. (2024). Impact of ERP System Implementation on Operational and Financial Efficiency in Manufacturing Industry. Journal of Economic Education and Entrepreneurship Studies, 5(3), 2024. https://doi.org/https://journal.unm.ac.id/index.php/JE3S/index
Tania, & Abdi Maswar. (2023). Pengaruh Efisiensi Operasional, Efektivitas Pemasaran, Dan Financial Leverage Terhadap Kinerja Keuangan Perusahaan Publik. Jurnal Manajerial Dan Kewirausahaan, 05(01), 76–83. https://doi.org/.https://doi.org/10.24912/jmk.v5i1.22515
Tarigan, Z. J. H., Siagian, H., & Jie, F. (2021). Impact of enhanced Enterprise Resource Planning (ERP) on firm performance through green supply chain management. Sustainability (Switzerland), 13(8). https://doi.org/10.3390/su13084358
Titania, H., & Taqwa, S. (2023). Pengaruh Good Corporate Governance terhadap Kinerja Keuangan Perusahaan. JURNAL EKSPLORASI AKUNTANSI, 5(3), 1224–1238. https://doi.org/10.24036/jea.v5i3.795
Utami, H., & Alamanos, E. (2023). Resource-Based Theory. https://open.ncl.ac.uk
Published
2025-10-15
How to Cite
LAELI, Septi Nur; FATIKHATUR RIZIQIYAH, Metiya.
THE IMPACT OF GOOD CORPORATE GOVERNANCE AND ENTERPRISE RESOURCE PLANNING ON FINANCIAL PERFORMANCE.
Proceedings of the International Conference of Islamic Economics and Business (ICONIES), [S.l.], v. 11, n. 1, p. 689-700, oct. 2025.
ISSN 2541-3333.
Available at: <https://conferences.uin-malang.ac.id/index.php/iconies/article/view/3494>. Date accessed: 15 may 2026.
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Articles
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