SENI STRATEGI KEUANGAN: MENYEIMBANGKAN RISIKO DAN PELUANG
Keywords:
Financial Performance, Risk Management Practices, Investment Opportunities, Market Conditions
Abstract
ABSTRAK
Penelitian ini menginvestigasi dampak dari praktik manajemen risiko, peluang investasi, dan kondisi pasar terhadap kinerja keuangan di Bank BTN KC Bengkulu. Dengan menggunakan pendekatan kuantitatif dengan 100 nasabah yang diambil secara acak, data dianalisis melalui Smart PLS untuk menguji pengaruh langsung, tidak langsung, dan pengaruh moderasi di antara variabel-variabel tersebut. Hasil penelitian menunjukkan bahwa manajemen risiko secara signifikan meningkatkan kinerja keuangan, terutama dalam kondisi pasar yang stabil, sementara peluang investasi berkontribusi positif namun dimoderasi oleh kondisi pasar yang tidak stabil. Temuan ini menggarisbawahi pentingnya strategi adaptif yang menyeimbangkan manajemen risiko dan investasi untuk mengoptimalkan kinerja dalam lingkungan yang dinamis.
Kata Kunci: Kinerja Keuangan, Praktik Manajemen Risiko, Peluang Investasi, Kondisi Pasar
References
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Yilmaz, A. K., & Flouris, T. (2017). Enterprise risk management in the airline industry: Theory and practice. Journal of Air Transport Management, 63, 19-28.
Zhao, X., Li, X., & Zhang, Z. (2019). Corporate investment and market conditions. Journal of International Financial Management & Accounting, 30(3), 287-313.
Abolarinwa, S., Agbola, F., & Rexha, N. (2020). Corporate growth strategies and financial performance of quoted manufacturing firms in Nigeria: The mediating role of global economic crises. Cogent Economics & Finance, 8(1), 1750259.
Albuquerque, R., Koskinen, Y., & Zhang, C. (2012). Corporate Social Responsibility and Firm Risk: Theory and Empirical Evidence. Journal of Management Science, 58(5), 975–993.
Allayannis, G., & Weston, J. P. (2001). The use of foreign currency derivatives and firm market value. The Review of Financial Studies, 14(1), 243-276.
Allen, L. (2021). Risk management in banks: determination of practices and policies. Oxford Academic.
Ameer, R. (2010). Effects of corporate governance on valuation of firms in the emerging market. Journal of Financial Regulation and Compliance, 18(1), 1-15.
Apergis, N., Filippidis, I., & Economidou, C. (2012). Financial development and economic growth in banking systems in developing countries. Review of Development Economics, 11(2), 141–155.
Ardestani, H., & Jati, D. (2013). Investment opportunities in growing companies and their impact on value. Sustainable Business Accounting and Management Review, 1(1), 29-37.
Arslan-Ayaydin, O., Florackis, C., & Ozkan, A. (2014). Financial flexibility, corporate investment, and performance: Evidence from financial crises. Journal of Corporate Finance, 29, 298-324.
Blach, J. (2010). Financial risk management: Basic concepts and the application of financial risk management techniques. Journal of Business Research, 10(2), 96-107.
Boyd, J. H., & Graham, S. L. (1986). Risk, regulation, and bank holding company expansion into nonbanking. Quarterly Review of Economics and Business, 26(2), 1-12.
Callahan, C., & Soileau, J. (2017). Enterprise risk management and firm performance. Journal of Risk and Financial Management, 11(35), 4-17.
Clarke, T. (2014). Agency theory and shareholder value maximization. Journal of Business Economics and Management, 15(3), 276-288.
Duanmu, J. (2012). Market size and growth opportunities and corporate risk-taking. Journal of Financial Economics, 137(3), 693-710.
Elshandidy, T., & Neri, L. (2015). Corporate governance, firm risk-taking, and performance. Journal of Business Economics and Management, 16(1), 39-56.
Faccio, M., Marchica, M. T., & Mura, R. (2011). Large shareholder diversification and corporate risk-taking. Review of Financial Studies, 24(11), 3601-3641.
Fama, E. F., & French, K. R. (1992). The cross‐section of expected stock returns. Journal of Finance, 47(2), 427-465.
Froot, K. A., Scharfstein, D. S., & Stein, J. C. (1993). Risk management: Coordinating corporate investment and financing policies. Journal of Finance, 48(5), 1629-1658.
Gao, Y., Xu, X., & Fu, Y. (2023). ESG practices and corporate performance in different life cycle stages. Frontiers in Environmental Science, 10, 1105077.
Gaver, J. J., & Gaver, K. M. (1993). Additional evidence on the association between the investment opportunity set and corporate financing, dividend, and compensation policies. Journal of Accounting and Economics, 16(2), 125-160.
Hassan, M. K., & Keen, M. (2019). Risk management disclosures and financial performance in banks. Journal of Financial Stability, 45, 117-131.
Holthausen, R. W., & Watts, R. L. (1995). The effect of firm growth on investment decisions and compensation. Managerial Finance, 4, 77-102.
Hopkin, P. (2018). Fundamentals of Risk Management: Understanding, Evaluating and Implementing Effective Risk Management. Kogan Page.
John, K., Litov, L., & Yeung, B. (2008). Corporate Governance and Risk-Taking. Journal of Finance, 63(4), 1679–1728.
Koirala, S., Marshall, A., & Wrobel, P. (2020). Corporate risk-taking and market volatility. Journal of Financial Economics, 137(3), 693-710.
Lajili, K., & Zéghal, D. (2010). Corporate governance and risk disclosure. Journal of Accounting, Auditing & Finance, 15(1), 83–95.
López, S. A., & Escalera, G. J. (2012). Financial decisions and economic value creation in Mexican companies. Global Journal of Business Research, 6(2), 94-108.
Ma, S., & Jin, Q. (2016). Financial flexibility's impact on firm performance in times of crisis. International Review of Economics & Finance, 42, 272-283.
Mokhtari, M., & Rahmani, M. (2016). Risk management and investment opportunities in the banking industry. Journal of Banking Regulation, 17(3), 245-262.
Morgan, N. A., Vorhies, D. W., & Mason, C. H. (2009). Market Orientation, Marketing Capabilities, and Firm Performance. Strategic Management Journal, 30(8), 909–920.
Rasid, S. Z. A., Golshan, N. M., & Ismail, W. K. W. (2014). Risk management practices in Islamic banks. Journal of Risk and Financial Management, 7(1), 111-130.
Rehman, C. A. (2017). Corporate financial strategy: Risk assessment and risk mitigation in strategic decision-making. Journal of Competitiveness, 4(2), 42-55.
Roberto, M. A. (2008). Strategies in action: Growth and the impact on financial performance. Global Strategy Journal, 6(4), 82-99.
Smith, C. W., & Watts, R. L. (1992). The investment opportunity set and corporate financing, dividend, and compensation policies. Journal of Financial Economics, 32(3), 263-292.
Soltanizadeh, S., Rasid, S. Z. A., Golshan, N. M., & Wan Ismail, W. K. (2016). Business strategy, enterprise risk management, and organizational performance. Management Research Review, 39(10), 1146–1163.
Vorhies, D. W., & Morgan, N. A. (2005). Benchmarking marketing capabilities for sustainable competitive advantage. Journal of Marketing, 69(1), 80–94.
Yilmaz, A. K., & Flouris, T. (2017). Enterprise risk management in the airline industry: Theory and practice. Journal of Air Transport Management, 63, 19-28.
Zhao, X., Li, X., & Zhang, Z. (2019). Corporate investment and market conditions. Journal of International Financial Management & Accounting, 30(3), 287-313.
Published
2024-11-17
Section
Articles
Copyright (c) 2024 Chairul Suhendra, Ahmad Fauzi, Sari Rahayu
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
