Article Sidebar

Download
PDF
Statistic
Read Counter : 87 Download : 51

Downloads

Download data is not yet available.

Main Article Content

Abstract

Abstract: Strengthening SME Financial Performance through Intangible Assets and Competitive Strategies
Purpose: the purpose of the article should be concise and presented in one sentence.
Method: data was obtained from a questionnaire and processed with WarpPLS software.
Results: Intangible Assets have a positive and significant effect on the financial performance of SMEs, competitive strategy also acts as a moderator of Intangible Assets on the financial performance of SMEs in the Mangrove batik industry in Surabaya.
Novelty: competitive strategy can strengthen the relationship between intangible assets and financial performance.
Contribution: Provide justification for the importance of invention for SMEs that can strengthen financial performance.


Abstrak: Penguatan Kinerja Keuangan UKM melalui Aset Tidak Berwujud dan Strategi Bersaing
Tujuan: untuk menguji dan menganalisis pengaruh Aset Tak Berwujud terhadap Kinerja Keuangan UKM, serta menguji apakah strategi bersaing moderasi berpengaruh terhadap Aset Tak Berwujud terhadap kinerja keuangan UKM Batik Mangrove di Surabaya.
Metode: data diperoleh dari kuesioner dan diolah dengan software WarpPLS
Hasil: Aset Tak Berwujud berpengaruh positiff dan signifikan terhadap kinerja keuangan UKM, strategi bersaing juga berperan sebagai moderator Aset Tidak Berwujud dengan kinerja keuangan UKM pada industri batik Mangrove di Surabaya.
Kebaruan: Strategi bersaing dapat memperkuat hubunan antara intangible asset dengan financial performance. 
Kontribusi: Memberikan justifikasi pentingnya invensi pada UKM yang dapat memperkuat kinerja keuangan

Keywords

intangible asset competitive strategy financial performance SMEs

Article Details

License

Copyright (c) 2024 Aranta Prista Dilasari, Annita Mahmudah, Mesra Berlyn Hakim

Creative Commons License

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

References

  1. P. Wahyuningrum, A. Sukmawati, and L. Kartika, Peningkatan Kinerja Usaha Kecil dan Menengah (UKM) Kluster Kerajinan di Kota Depok Menggunakan The House Model, J. Manaj. dan Organ., 2016, https://doi.org/10.29244/jmo.v5i2.12156
  2. E. S. Wahyuni, Empowering the Human Resources (English Learning Strategy in Mangrove Batik Small and Medium Enterprise, Wonorejo- Surabaya), Apl. Adm. Media Anal. Masal. Adm., 2019, https://doi.org/10.30649/aamama.v21i2.95.
  3. N. G. A. J. Medhika, I. G. A. K. Giantari, and N. N. K. Yasa, Peran Keunggulan Bersaing Dalam Memediasi Orientasi Pasar Dan Orientasi Kewirausahaan Dengan Kinerja UKM, INOBIS J. Inov. Bisnis dan Manaj. Indones., 2018, https://doi.org/10.31842/jurnal-inobis.v1i2.29.
  4. D. Ediraras, AKUNTANSI DAN KINERJA UKM, J. Ilm. Ekon. Bisnis, 2010.
  5. W. A. Brown, Strategic management, in The Jossey-Bass Handbook of Nonprofit Leadership and Management, 2016.
  6. G. T. S. Ho, K. L. Choy, S. H. Chung, and C. H. Y. Lam, An examination of strategies under the financial tsunami, Ind. Manag. Data Syst., 2010, https://doi.org/10.1108/02635571011087419.
  7. A. A. Eniola and H. Entebang, Financial literacy and SME firm performance, Int. J. Res. Stud. Manag., 2015, https://doi.org/10.5861/ijrsm.2015.1304.
  8. D. T. Arumsari, Pengaruh Literasi Keuangan dan Kompetensi SDM Terhadap Kinerja UKM di Jawa Timur, STIE Perbanas Surabaya, 2019, http://eprints.perbanas.ac.id/id/eprint/3508.
  9. S. Ismanu and A. Kusmintarti, Pengaruh Lingkungan Industri Terhadap Kinerja Perusahaan Melalui Inovasi Sebagai Variabel Mediasi (Studi Kasus Di Ukm Batik Tulis). Prosiding Seminar Akuntansi, Manajemen, Dan Keuangan, III, 1–10 2018.
  10. B. Nooteboom, P. Zwart, and T. Bijmolt, Transaction Costs and standardisation in professional services to small business, Small Bus. Econ., 1992, https://doi.org/10.1007/BF00389855.
  11. M. S. Aliyu, H. B. Rogo, and R. Mahmood, Knowledge management, entrepreneurial orientation and firm performance: The role of organizational culture, Asian Soc. Sci., 2015, https://doi.org/10.5539/ass.v11n23p140.
  12. M. M. M. De Luca, A. B. G. R. Maia, V. I. da Costa Cardoso, A. C. de Vasconcelos, and J. V. A. da Cunha, Intangible assets and superior and sustained performance of innovative Brazilian firms, BAR - Brazilian Adm. Rev., 2014, https://doi.org/10.1590/1807-7692bar2014130012.
  13. C. A. Sallah and L. D. Caesar, Intangible resources and the growth of women businesses, J. Entrep. Emerg. Econ., 2020, https://doi.org/10.1108/jeee-05-2019-0070.
  14. J. Barney, Barney 1991, Journal of Management. 1991.
  15. O. Borchert, Resource-Based Theory: Creating and Sustaining Competitive Advantage, J. Mark. Manag., 2008, https://doi.org/10.1362/026725708x382046.
  16. M. A. Hitt, R. D. Ireland, and R. E. Hoskisson, Strategic Management - Competitiveness and Globalization. 2010.
  17. V. Delbecque, A. Bounfour, and A. Barreneche, Intangibles and value creation at the industrial level: Delineating their complementarities, in Intangibles, Market Failure and Innovation Performance, 2015.
  18. S. H. Winarno, Penilaian Kinerja Keuangan Perusahaan Melalui Analisis Rasio Profitabilitas, J. Monet., 2017, https://doi.org/10.31294/moneter.v4i2.2237.
  19. H. A. Gunawan, Pengakuan, Pengukuran, Dan Pengungkapan Intellectual Capital Terhadap Penilaian Kinerja Perusahaan, J. Ilm. Mhs. Akunt., 2012, https://doi.org/10.33508/jima.v1i3.235.
  20. L. C. Sudarmadji, Peranan Penggunaan Informasi Akuntansi Pada Kinerja Unit Bisnis Dalam Berbagai Tingkatan Kompetisi Pasar, J. Ilm. Mhs. Akunt., 2012, https://doi.org/10.33508/jima.v1i4.246.
  21. I. Yuliana and J. Khoiriyah, Modal Intelektual, Keunggulan Kompetitif, dan Kinerja Keuangan Pada Perusahaan High-IC Di Indonesia Dan Singapura, jmm unram - master Manag. J., 2018, https://doi.org/10.29303/jmm.v7i4.343.
  22. I. Faradina and Gayatri, Pengaruh Intellectual Capital Dan Intellectual Capital Disclosure Terhadap Kinerja Keuangan Perusahaan, E-Jurnal Akunt., 2016.
  23. L. N. Govender, R. Perumal, and S. Perumal, Knowledge management as a strategic tool for human resource management at higher education institutions, SA J. Inf. Manag., 2018, https://doi.org/10.4102/sajim.v20i1.966.
  24. H. Fitri, A. T. Nugraha, Y. Hakimah, and C. Manihuruk, Strategic management of organizational knowledge and competency through intellectual capital, Polish J. Manag. Stud., 2019, https://doi.org/10.17512/pjms.2019.19.2.11.
  25. Hesniati H, Margaretha F, Kristaung R. Intellectual Capital, Knowledge Management, and Firm Performance in Indonesia. EJBMR [Internet]. 2019 Nov. 22;4(6). https://doi.org/10.24018/ejbmr.2019.4.6.133
  26. J. P. Lendzion, Human Resources Management in the System of Organizational Knowledge Management, Procedia Manuf., 2015, https://doi.org/10.1016/j.promfg.2015.07.303.
  27. S. Marginson, Limitations of human capital theory*, Stud. High. Educ., 2019, https://doi.org/10.1080/03075079.2017.1359823.
  28. K. Masood, M. N. B. M. Shariff, and H. B. M. Lazim, SMEs performance and interaction of knowledge management, human capital and finance access, Opcion, 2019.
  29. M. Ibrahim Aminu, R. Mahmood, and F. Merlinda Muharram, The intangible resources and small firms’ multilevel performance: A partial least squares approach, Asian Soc. Sci., 2015, https://doi.org/10.5539/ass.v11n16p187.
  30. A. Pilková, J. Volná, J. Papula, and M. Holienka, The influence of intellectual capital on firm performance among Slovak SMEs, 2013.
  31. C. Camisón and A. Villar-López, Effect of SMEs’ international experience on foreign intensity and economic performance: the mediating role of internationally exploitable assets and Competitive Strategy, J. Small Bus. Manag., 2010, https://doi.org/10.1111/j.1540-627X.2010.00289.x.
  32. B. Sugeng, Manajemen Keuangan Fundamental. 2017.
  33. Nurul Mufida, Muhammad Saifi, and Ari Darmawan, Pengaruh Modal Intelektual, Set Kesempatan Investasi Terhadap Kinerja Keuangan Dan Nilai Perusahaan Makanan dan Minumam Yang Terdaftar Pada BEI Periode 2012-2016, SKETSA BISNIS, 2020, https://doi.org/10.35891/jsb.v7i2.2146.
  34. G. Roos and J. Roos, Measuring your company’s intellectual performance, Long Range Plann., 1997, https://doi.org/10.1016/s0024-6301(97)90260-0.
  35. J. H. Daum, Intangible assets-Based Enterprise Management – A Practical Approach, Proc. 2005 PMA IC Symp. Stern Sch. Bus., 2005.
  36. V. Boronos, I. Plikus, and V. Aleksandrov, Financial and accounting approaches to definition of the intangible factors impact on the value of the company, Econ. Ann., 2016, https://doi.org/10.21003/ea.V160-24.
  37. A. Metzlar, Strategic intent and the strategic position of smallholders: a case study of a smallholders’ organization in the Ghanaian cocoa industry, Rev. Soc. Econ., 2017, https://doi.org/10.1080/00346764.2017.1299202.
  38. S. Ambec, M. A. Cohen, S. Elgie, and P. Lanoie, The porter hypothesis at 20: Can environmental regulation enhance innovation and competitiveness?, Rev. Environ. Econ. Policy, 2013, https://doi.org/10.1093/reep/res016.
  39. J. F. Burgess and A. Street, Measuring Organizational Performance, in The Oxford Handbook of Health Economics, 2012.
  40. K. Krismiaji, Strategi bisnis, leverage keuangan dan kinerja perusahaan, J. Akunt. Audit. Indones., 2017, https://doi.org/10.20885/jaai.vol21.iss1.art4.
  41. K. Kuswantoro and I. Alfi, Strategi Keuangan UMKM Cilacap Menghadapi Pandemi Covid 19 (Studi Kasus UMKM Kabupaten Cilacap), J. Teknol. dan Bisnis, 2020, https://doi.org/10.37087/jtb.v2i1.13.
  42. K. Sedyastuti, Analisis Pemberdayaan UMKM Dan Peningkatan Daya Saing Dalam Kancah Pasar Global, INOBIS J. Inov. Bisnis dan Manaj. Indones., 2018, https://doi.org/10.31842/jurnal-inobis.v2i1.65.
  43. M. N. . Fitriyani, I., Sudiyarti, N. ., & Fietroh, Strategi Manajemen Bisnis Pasca Pandemi Covid-19, Indones. J. Soc. Sci. Humanit., 2020.
  44. S. Y. Ho and H. J. Fu, The impacts of leadership styles on work performances and organizational innovations in the financial distress industry, Rev. Cercet. si Interv. Soc., 2018.
  45. Munadjat, Improving the welfare of small and medium enterprises of culinary tourism in the creative industries of bandung city in the West Java Province of Indonesia, Man India, 2016.
  46. F. Darung and V. Kristinae, Arsitektur Strategi Bisnis Dalam Meningkatkan Kesejahteraan Ukm Makanan Kecil Pada Masa Covid-19 Di Kalimantan Tengah, Open J. Syst., 2020, https://doi.org/10.33758/mbi.v15i1.653.
  47. R. Slamet, B. Nainggolan, R. Roessobiyatno, H. Ramdani, A. Hendriyanto, and L. L. Ilma, Strategi Pengembangan UKM Digital Dalam Menghadapi Era Pasar Bebas, J. Manaj. Indones., 2017, https://doi.org/10.25124/jmi.v16i2.319.
  48. H. Pribadi and K. Kanai, Examining and exploring Indonesia small and medium enterprise performance : An empirical study, Asian J. Bus. Manag., 2011.
  49. H. S. Seo and Y. Kim, Intangible assets investment and firms’ performance: Evidence from small and medium-sized enterprises in Korea, J. Bus. Econ. Manag., 2020, https://doi.org/10.3846/jbem.2020.12022
  50. E. Savitri and A. Syahza, Effect of human capital and competitive strategies against the financial performance of small and medium enterprises, Int. J. Sci. Technol. Res., 2019.
  51. H. Hanny, V. Herawaty, and H. Hasnawati, Pengaruh Tax Avoidance, Corporate Governance Dan Dividend Payout Ratio Terhadap Kinerja Perusahaan Dengan Strategi Bisnis Sebagai Variabel Moderasi, J. Magister Akunt. Trisakti, 2019, https://doi.org/10.25105/jmat.v5i2.5075.
  52. H. E. G. Echegoyen, S. Coronado, and A. T. López, Marke forces, competitive strategies and small business performance: Evidence from Mexico`s low-income market, Contaduria y Administracion. 2020, https://doi.org/10.22201/FCA.24488410E.2018.2037.
  53. J. St-Pierre and J. Audet, Intangible assets and performance: Analysis on manufacturing SMEs, J. Intellect. Cap., 2011, https://doi.org/10.1108/14691931111123395.
  54. T. L. Wheelen and J. D. Hunger, Strategic Management and Business Policy- Toward Global Sustainability. 2012.
  55. I. Mavlutova, A. Sarnovics, and G. Olevsky, Business Restructuring As A Tool Of Financial Strategy Of A Company, 2014, https://doi.org/10.3846/bm.2014.014.
  56. A. S. Aydiner, E. Tatoglu, E. Bayraktar, S. Zaim, and D. Delen, Business analytics and firm performance: The mediating role of business process performance, J. Bus. Res., 2019, https://doi.org/10.1016/j.jbusres.2018.11.028.
  57. J. B. Barney, Strategic Factor Markets: Expectations, Luck, and Business Strategy, M72anage. Sci., 1986, https://doi.org/10.1287/mnsc.32.10.1231
  58. T. T. Nguyen, L. Mia, L. Winata, and V. K. Chong, Effect of transformational-leadership style and management control system on managerial performance, J. Bus. Res., 2017, https://doi.org/10.1016/j.jbusres.2016.08.018.
  59. H. H. M. Tse and W. C. K. Chiu, Transformational leadership and job performance: A social identity perspective, J. Bus. Res., 2014, https://doi.org/10.1016/j.jbusres.2012.07.018.
  60. G. Azka, M. Q. Tahir, A. K. M, and T. H. Syed, Transformational leadership, employee engagement and performance: Mediating effect of psychological ownership, African J. Bus. Manag., 2011, https://doi.org/10.5897/ajbm11.126.
  61. N. Shen, K. Au, and W. Li, Strategic alignment of intangible assets: The role of corporate social responsibility, Asia Pacific J. Manag., 2020, https://doi.org/10.1007/s10490-019-09681-1.
  62. Gamayuni RR. The effect of intangible asset, financial performance and financial policies on the firm value. International Journal of scientific and technology research. 2015;4(1):202-12.
  63. J. M. M. Cavalcanti, H. F. Amaral, L. F. Correia, and C. M. da S. Roma, Do intangible assets matter to financial analysts in the Brazilian stock market?, Rev. Bras. Gest. Negocios, 2020, https://doi.org/10.7819/rbgn.v22i0.4063.
  64. B. Wernerfelt, The resource‐based view of the firm: Ten years after, Strateg. Manag. J., 1995, https://doi.org/10.1002/smj.4250160303.
  65. C. J. Collins, Expanding the resource based view model of strategic human resource management, Int. J. Hum. Resour. Manag., 2021, https://doi.org/10.1080/09585192.2019.1711442.
  66. G. F. Davis and T. DeWitt, Organization Theory and the Resource-Based View of the Firm: The Great Divide, J. Manage., 2021, https://doi.org/10.1177/0149206320982650.
  67. S. Asbury and P. Ashwell, Business Environment, in Health & Safety, Environment and Quality Audits, 2020.
  68. F. Fitriasari, How do Small and Medium Enterprise (SME) survive the COVID-19 outbreak?, J. Inov. Ekon., 2020, https://doi.org/10.22219/jiko.v5i3.11838.
  69. T. Izumi, V. Sukhwani, A. Surjan, and R. Shaw, Managing and responding to pandemics in higher educational institutions: initial learning from COVID-19, Int. J. Disaster Resil. Built Environ., 2020, https://doi.org/10.1108/IJDRBE-06-2020-0054.
  70. M. Cepel, B. Gavurova, J. Dvorsky, and J. Belas, The impact of the covid-19 crisis on the perception of business risk in the sme segment, J. Int. Stud., 2020, https://doi.org/10.14254/2071-8330.2020/13-3/16.
  71. D. A. O. A. Rini, Pengaruh Intellectual Capital, Corporate Governance Dan Karakteristik Perusahaan Terhadap Kinerja Keuangan Perusahaan Manufaktur Di Indonesia, Riset, Ekon. Akunt. dan Perpajak., 2020, https://doi.org/10.30812/rekan.v1i1.663.
  72. L. Amalia and A. Rokhyadi, Pengaruh Intellectual Capital terhadap Kinerja Keuangan Subsektor Advertising, Printing dan Media, J. Ilm. Mhs. Ekon. Manaj., 2020, https://doi.org/10.24815/jimen.v5i1.14365.
  73. Purwanti, Ika, and Mu’Ah Mu’Ah. Pengaruh Intangible asset terhadap Kinerja Keuangan dengan Keunggulan Bersaing sebagai Mediasi. MIX: Jurnal Ilmiah Manajemen, vol. 9, no. 1, 2019, https://dx.doi.org/10.22441/mix.2019.v9i1.005.
  74. Abdillah, A. D., Susilowati, S., & Anggaraini, D. (2019). Cost Benefit Analysis (CBA) Program Pemberian Makanan Tambahan (PMT) Susu Pada Karyawan di PT. Trisula Textile Industries Tbk Cimahi Tahun 2018. Jurnal Ekonomi Kesehatan Indonesia, 3(1), https://doi.org/10.7454/eki.v3i1.2740.
  75. Fadilla, M. R., Nuryati, T., Rossa, E., Faeni, D. P., & Manrejo, S. (2023). Pengaruh Intangible asset dan Tunneling Incentive terhadap Tax Avoidance dengan Profitabilitas sebagai Variabel Moderasi. SINOMIKA Journal: Publikasi Ilmiah Bidang Ekonomi dan Akuntansi, 2(4), 747-758, https://doi.org/10.54443/sinomika.v2i4.1578.
  76. Harsanto, B. (2017). Dasar ilmu manajemen operasi. Unpad press.
  77. Saifi, M. (2019). Pengaruh Corporate governance dan struktur kepemilikan terhadap kinerja keuangan perusahaan. Profit: Jurnal Administrasi Bisnis, 13(2), 1-11.
  78. Mistari, B., Mustika, R., Panorama, M., & Tharfi, Q. (2022). Pengaruh Intellectual Capital Dan Corpoeate Governance Terhadap Kinerja Keuangan Perbankan Di Indonesia. Sibatik Journal: Jurnal Ilmiah Bidang Sosial, Ekonomi, Budaya, Teknologi, Dan Pendidikan, 1(7), 1029-1048, https://doi.org/10.54443/sibatik.v1i7.119
  79. Mulyana, M. (2020). Pengaruh Investasi Aset Tidak Berwujud Pada Kinerja Perusahaan. Journal of Applied Managerial Accounting, 4(2), 157-167, https://dx.doi.org/10.30871/jama.v4i2.1918.
  80. Sandra, A., & Purwanto, E. (2017). Pengaruh faktor-faktor eksternal dan internal terhadap kinerja usaha kecil dan menengah di Jakarta. Business Management Journal, 11(1), http://dx.doi.org/10.30813/bmj.v11i1.623.