The Influence of Organization’s Culture and Internal Control to Corporate Governance and is Impact on Bumn (State-Owned Enterprises) Corporate Performance in Indonesia
Abstract
This study measured four variables, namely, organizational culture, and internal control as exogenous variables as well as corporate governance and corporate performance as an endogenous variable. To collect data using survey techniques on state-owned companies in Indonesia. Respondents of this research are the manager of state-owned enterprises in Indonesia as many as 270 respondents. Validity and reliabilities made to the questionnaire that has been collected. The data were analyzed using Structural Equation Modeling with LISREL application. The results showed that there is significant influence of organizational culture on corporate governance, internal control of corporate governance, organizational culture on corporate performance, and corporate governance influence on corporate performance. From the test direct effect has no significant effect of internal control to corporate performance. Corporate governance is an intervening variable relation between the internal control and corporate performance.
References
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[42] Rashidpur. 2011. Corporate Governance and Culture in Iran. Interdisciplinary Journal of Contemporary Research in Business. 3(6). 858.
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[50] Syakroza, Akhmad. 2009. Corporate governance: History and Development, Theory, Model and Governance System and Its Application in state-owned companies, Speech Inauguration of Permanent Faculty of Economics, University of Indonesia, Jakarta: Issuing FE.
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[52] Tarmizi, HB., Daulay, M., and Muda, I. 2017. Impact of The Economic Growth and Acquisition of Land to The Construction Cost Index in North Sumatera. IOP Conference Series: Materials Science and Engineering. 180. Doi: 10.1088/1757-899X/180/1/012004.
[53] Thoyib, Armanu. 2005. Relations Leadership, Culture, Strategy and Performance: Concept Approach. Journal of Management and Entrepreneurship, 7 (1):60-73.
[54] Tseng, Shu-Mei. 2009. The correlation between organizational culture and knowledge conversion on corporate performance, the Department of Information Management, I-Shou University, Dashu Township, Taiwan, Republic of China. Journal of knowladge Management. 14(2):269-284. Doi: http://dx.doi.org/10.1108/13673271011032409.
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[56] Wulandari. 2006. Effects of corporate governance mechanism indicator of the performance of public companies in Indonesia. Focus on Economy. 1 (2): 120-136.
[57] Xiaoming. 2012. A Literature Review on Organization Culture and Corporate Performance, School of Management, Fudan University Shanghai, China. International Journal of Business Administration. 3(2): 28-37. Doi:10.5430/ijba.v3n2p28
[58] Yahya, I., Torong, Z.B., and Muda, I. 2017. Influence Behavior in Legislature Budget Development of Regions in the Province of Aceh and North Sumatra. International Journal of Economic Research. 14(8). 147-159.
[59] Zwel, M. 2000. Creating a Culture of Competence: Jhon Willey & Son, Inc, New York.
[2] Aluko. 2003. The impact of culture on organizational performance in selected textile firms, Obafemi Awolowo University, Nigeria. Nordic Journal of African Studies. 12 (2): 164-179.
[3] Anum, and Ghozali. 2010. Ownership structure, corporate governance and corporate performance in Malaysia. International Journal of Commerce and Management. 20 (2): 109–119. Doi: http://dx.doi.org/10.1108/10569211011057245
[4] Bonifasius. 2009. Effects of corporate governance (corporate governance) on the performance of companies and the role of factors moderate, the Institute of Business and Information Technology Indonesia. Accountability. 8(2):148-149.
[5] Brahmasari, and Suprayetno. 2008. The Influence of Work Motivation, Leadership and Organizational Culture on Employee Satisfaction and Impact on Corporate Performance. Journal of Management and Entrepreuneurship, 10(2): 124-135.
[6] Cash, and Fischer. 1987. Human Resource Planning. In Famularo, J.J., Hand Book of Human Resources Administration: 10.3-10.20. Fong and Sons Printers Pte Ltd. Singapore.
[7] Chandrasasmita. 2010. Influence of organizational culture and effective leadership to good corporate governance. (Tesis, Binus 2010).
[8] COSO. 1992. Internal Control-Integrated Framework. Committee of Sponsoring Organizations Of The Tread way Commission.
[9] Dalimunthe, D.M.J., Fadli, and Muda, I. 2016. The application of performance measurement system model using Malcolm Baldrige Model (MBM) to support Civil State Apparatus Law (ASN) number 5 of 2014 in Indonesia. International Journal of Applied Business and Economic Research. 14(11): 7397-7407.
[10] Daniri, Mas Achmad, 2013. The Governance Reforms and Implementation towards state enterprises globally competitive, January 23, 2013, Posted; Governance.
[11] Davis, Keith, and Newtrom, J.W. 1996. Organizational Behavior, 7th Edition, Translation Agus Dharma, the publisher, Jakarta.
[12] Decree of the Minister of State/Head of Investment and Development of SOE No. 117/MMBU/state/2002: Development of Good Corporate Governance Practices in the Company (Persero).
[13] Eccles, Ioannou, and Serafeim. 2002. The Impact of a Corporate Culture of Sustainability on Corporate Behavior and Performance, Working Paper. 12-035, Harvard Business School.
[14] El-Gammal, W., and Showeiry, M. 2012. Corporate governance and quality of accounting information: Case of lebanon. The Business Review,Cambridge, 19(2): 310-315.
[15] Fama, E.F. 1980. Agency Problems and the Theory of the Firm. Journal of Political Economy. 88 (2): 288-307. Doi: http://dx.doi.org/10.1086/260866.
[16] Fama, E.F., and Jensen, M.C. 1983. Separation of Ownership and Control. Journal of Law and Economics. 26, (2):301-325. Doi: http://dx.doi.org/10.1086/467037
[17] Gusnardi, Riadi, R.M., and Muda, I. 2016. Competency mapping and analysis of students competency based on economics subject national examination and its alternative solutions in state high schools at Pekanbaru. International Journal of Economic Research. 3(5): 2133-2148.
[18] Hadrat. 2007. Influence of the quality of corporate governance on the performance of public companies, Faculty of Economics, University Dr. Soetomo. JAAI. 11 (1):1-19.
[19] Hair, J.F. Jr., Anderson, R.E., Tatham, R.L., Black, W.C. 1998. Multivariate Data Analysis, (5thEdition). Upper Saddle River, NJ: Prentice Hall.
[20] Hawkins, Joyce M. 1979. The Oxford Paperback Dictionary. Oxford University. New York.
[21] Hiro Tugiman. 2004. The recent Internal Control Organizations Main Causes Indonesia Is One of Corrupt Countries in the World. Inauguration Speech Professor Position. Widyatama University. Bandung.
[22] Kaplan, R., and Norton, D. 1996. The Balanced Scorecard: Translating Strategy Into Action, Harvard Business Review.
[23] Khan, Rehman, Dost, and Mumtaz. 2011. Impact of Corporate Governance on Financial Performance: Evidence from the textile industry of Pakistan. Interdiciplinary Journal of Contemporary Research in Business. 3 (1): 335-345.
[24] Kotter, and Heskett, L.J. 1998. Corporate Culture and Corporate Culture Performance. Pearson Education Asia, Jakarta
[25] Law of the Republic of Indonesia Number 19 of 2003 on State-Owned Enterprises, LNRI Number 4297.
[26] Lee, and Yu. 2004. Corporate culture and organizational performance, National University of Singapore, Singapore. Journal of Managerial Psychology. 19(4): 340-359. Doi: http://dx.doi.org/10.1108/02683940410537927
[27] Leng, and Ding. 2011. Internal Control and Corporate Governance Disclosure: Empirical Research from Chinese Listed Companies, School of Business, Hohai University, Nanjing, China, Technology and Investment. Scientific Research. 2(4). 286-294. Doi: 10.4236/ti.2011.24029
[28] Lubis, A.,Torong, Z.B., and Muda, I. 2016. The urgency of implementing balanced scorecard system on local government in North Sumatra - Indonesia. International Journal of Applied Business and Economic Research. 14(11). 7575-7590.
[29] Lubis, A.F., Lubis, T.A., and Muda, I. 2016. The role of Enterprise Resource Plan (ERP) configuration to the timeliness of the financial statement presentation. International Journal of Applied Business and Economic Research. 14(11). 7591-7608.
[30] Lutfi, M., Nazwar, C., and Muda, I 2016. Effects of investment opportunity set, company size and real activity manipulation of issuers in Indonesia Stock Exchange on stock price in Indonesia. International Journal of Economic Research.13(5): 2149-2161.
[31] Maswig. 2008. Industry Analysis. Retrieved on January 10, 2014 from http://maswig.blogspot.com/2008_04_01_archive.html
[32] Muda, I., and Abykusno, Dharsuky. 2015. Impact Of Region Financial Information System (SIKD) Quality, Role Ambiguity And Training on Precision of Financial Statement of Local Government Presentation In North Sumatra. International Journal of Applied Business and Economic Research, 13(6): 4283-4304.
[33] Muda, I, Dharsuky, A., Siregar, H.S., and Sadalia, I. 2017. Combined loading and Cross-dimensional loadings timeliness of presentation of financial statements of local government. IOP Conference Series: Materials Science and Engineering. 180: 1-5). Doi: 10.1088/1757-899X/180/1/012099.
[34] Muda, I, Marlon, Sihombing, Erni, Jumilawati, and Abikusno, Dharsuky. 2016. Critical Success Factors Downstream Palm Oil Based Small And Medium Enterprises (SME) In Indonesia. International Journal of Economic Research. 13(8): 3531-3538.
[35] Muda, I.,Dharsuky, A.,Sadalia, I., and Siregar, H.S. 2016. Impact of capital investments and cash dividend policy on Regional Development Bank (BPD) PT. Bank Sumut to the district own source revenue and economic growth. International Journal of Applied Business and Economic Research. 14(11): 7863-7880.
[36] Muktiyanto. 2011. Influence of Interdependence corporate governance mechanism on bank performance. Journal of Accounting and Finance Indonesia, 8 (2). 197-213. Doi: http://dx.doi.org/10.15742
[37] Murwaningsari. 2009. Relations Corporate Governance, Corporate Social Responsibilities and Corporate Financial Performance. Journal of Accounting and Finance. 11(1). 30-41.
[38] Nurzaimah, Rasdianto, and Muda, I. 2016. The skills and understanding of rural enterprise management of the preparation of financial statements using Financial Accounting Standards (IFRs) financial statement on the Entities without Public Accountability (ETAP) framework on the implementation of village administration law. International Journal of Applied Business and Economic Research. 14(11): 7417-7429.
[39] OECD. 2004. Principles of Corporate Governance, Paris, France, OECD Publications Services.
[40] Paramita. 2008. Analysis of Relationship Role Of Corporate Culture of Good Corporate Governance in PT Aneka Tambang Tbk. The 2nd National Conference UKWMS. Surabaya. Journal of the Winners. 8 (2): 126-138.
[41] Rahmati, Darouian, Ahmadinia. 2012. A Review on the Effect of Culture, Structure, Technology and Behavior on Performance Organizations. Australian Journal of Basic and Applied Sciences. 6 (3). 128-135.
[42] Rashidpur. 2011. Corporate Governance and Culture in Iran. Interdisciplinary Journal of Contemporary Research in Business. 3(6). 858.
[43] Robbins. 2008. Organizational Behavior. 12th Edition,: Four Salemba. Jakarta.
[44] Shakil, Ahmad, M. 2012. Impact of organizational culture on performance management practices in Pakistan, Business Intelegence Journal. 5(1). 50–55. Doi :10.1016/S0167- 9236(01)00141-5
[45] Sheikh. 2013. The impact of internal attributes of corporate governance on firm. International Journal of Commerce and Management. 23(1): 38–55. Doi: http://dx.doi.org/10.1108/10569211311301420.
[46] Sirojuzilam, Hakim, S., and Muda, I. 2016. Identification of factors of failure of Barisan Mountains Agropolitan area development in North Sumatera - Indonesia. International Journal of Economic Research. 13(5). 2163-2175.
[47] Sugiyono. 200. Statistics for Research, 7th Edition. PT. Alfabeta. Bandung.
[48] Sukardi. 2005. The performance of state is still considered low. Suara Merdeka. 18 April 2002.
[49] Suripto. 1996. The Effect Unit Internal supervision and leadership style Perception And Behaviour Tops Bottoms Regarding the Management Efforts in Improving profitability of the Company. Dissertation Doctoral Economics at the University Padjadjaran. Bandung Graduate Program; act of Corporate Governance on the Performance of U.S. Small-Cap Firms. International Journal of Business. 14 (4):341 – 355.
[50] Syakroza, Akhmad. 2009. Corporate governance: History and Development, Theory, Model and Governance System and Its Application in state-owned companies, Speech Inauguration of Permanent Faculty of Economics, University of Indonesia, Jakarta: Issuing FE.
[51] Tarmizi, H.B., Daulay, M., and Muda, I. 2016. The influence of population growth, economic growth and construction cost index on the local revenue of tax on acquisition of land and building after the implementation of law no. 28 of 2009. International Journal of Economic Research. 13(5). 2285-2295.
[52] Tarmizi, HB., Daulay, M., and Muda, I. 2017. Impact of The Economic Growth and Acquisition of Land to The Construction Cost Index in North Sumatera. IOP Conference Series: Materials Science and Engineering. 180. Doi: 10.1088/1757-899X/180/1/012004.
[53] Thoyib, Armanu. 2005. Relations Leadership, Culture, Strategy and Performance: Concept Approach. Journal of Management and Entrepreneurship, 7 (1):60-73.
[54] Tseng, Shu-Mei. 2009. The correlation between organizational culture and knowledge conversion on corporate performance, the Department of Information Management, I-Shou University, Dashu Township, Taiwan, Republic of China. Journal of knowladge Management. 14(2):269-284. Doi: http://dx.doi.org/10.1108/13673271011032409.
[55] Wheelen, T.L., and Hunger. 2002. Strategic Management and Business Policy. 8th Edition, New Jersey: Prentice-Hall.
[56] Wulandari. 2006. Effects of corporate governance mechanism indicator of the performance of public companies in Indonesia. Focus on Economy. 1 (2): 120-136.
[57] Xiaoming. 2012. A Literature Review on Organization Culture and Corporate Performance, School of Management, Fudan University Shanghai, China. International Journal of Business Administration. 3(2): 28-37. Doi:10.5430/ijba.v3n2p28
[58] Yahya, I., Torong, Z.B., and Muda, I. 2017. Influence Behavior in Legislature Budget Development of Regions in the Province of Aceh and North Sumatra. International Journal of Economic Research. 14(8). 147-159.
[59] Zwel, M. 2000. Creating a Culture of Competence: Jhon Willey & Son, Inc, New York.
Published
2018-12-12
How to Cite
SARI, Maya et al.
The Influence of Organization’s Culture and Internal Control to Corporate Governance and is Impact on Bumn (State-Owned Enterprises) Corporate Performance in Indonesia.
Journal of Advanced Research in Law and Economics, [S.l.], v. 9, n. 2, p. 681-691, dec. 2018.
ISSN 2068-696X.
Available at: <https://journals.aserspublishing.eu/jarle/article/view/2496>. Date accessed: 19 apr. 2024.
doi: https://doi.org/10.14505//jarle.v9 2(32).30.
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