PERAN MANAGERIAL ABILITY DALAM MEMODERASI HUBUNGAN ANTARA RESEARCH & DEVELOPMENT INTENSITY DAN KINERJA PERUSAHAAN SEKTOR MANUFAKTUR DI BURSA EFEK INDONESIATAHUN 2020-2024

Maharani Oktavia, Maharani (2025) PERAN MANAGERIAL ABILITY DALAM MEMODERASI HUBUNGAN ANTARA RESEARCH & DEVELOPMENT INTENSITY DAN KINERJA PERUSAHAAN SEKTOR MANUFAKTUR DI BURSA EFEK INDONESIATAHUN 2020-2024. S2 thesis, Universitas Andalas.

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Abstract

The Role of Managerial Ability in Moderating the Relationship between Research & Development Intensity and Firm Performance in the Manufacturing Sector Listed on the Indonesia Stock Exchange (IDX) 2020–2024 1Maharani Oktavia, 2Rida Rahim, 3Fajri Adrianto Master of Management, Faculty of Economics and Business, AndalasUniversity Email: 2320522005_maharani@student.unand.ac.id ABSTRACT This study aims to analyze the effect of Research & Development (R&D) Intensity and Managerial Ability on firm performance, as well as to examine the role of Managerial Ability as a moderating variable in the relationship between R&D Intensity and firm performance. In addition, the study includes control variables such as leverage, firm size, and firm age to provide a more comprehensive understanding of the factors influencing financial performance. The research sample consists of manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the period 2020–2024, selected using a purposive sampling technique based on specific criteria. The analytical method employed is panel data regression with a random effects model using Stata software. The tests were conducted to identify both the direct effects and interaction effects among variables on financial performance, which is proxied by Return on Assets (ROA). The results show that R&D Intensity has a positive and significant effect on firm performance, indicating that investment in research and development is an important factor in enhancing operational efficiency and competitiveness in manufacturing firms. Furthermore, the study finds that Managerial Ability has a positive and significant effect on firm performance. This finding supports the Upper Echelons Theory, which emphasizes that the characteristics and abilities of top managers play a crucial role in determining strategic direction and organizational performance. However, when tested as a moderating variable, Managerial Ability was not found to strengthen or weaken the effect of R&D Intensity on firm performance. This suggests that the positive effect of R&D Intensity on firm performance is more direct and does not rely on variations in managerial ability. Key Words: Firm Performance; Research & DevelopmentIntensity; Managerial Ability vi Peran Managerial Ability dalam Memoderasi Hubungan antara Research & Development Intensity dan Kinerja Perusahaan Sektor Manufaktur di Bursa Efek Indonesia Tahun 2020-2024 1Maharani Oktavia, 2Rida Rahim, 3Fajri Adrianto Departemen Manajemen, Fakultas Ekonomi dan Bisnis, Universitas Andalas123 ABSTRAK Penelitian ini bertujuan untuk menganalisis pengaruh Research & Development (R&D) Intensity dan Managerial Ability terhadap kinerja perusahaan, serta menguji peran Managerial Ability sebagai variabel moderasi dalam hubungan antara R&D Intensity dan kinerja perusahaan. Selain itu, penelitian ini juga memasukkan variabel kontrol berupa leverage, firm size, dan firm age untuk memberikan gambaran yang lebih komprehensif mengenai faktor-faktor yang memengaruhi kinerja keuangan. Sampel penelitian mencakup perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia (BEI) periode 2020–2024, dengan teknik purposive sampling yang digunakan untuk menentukan perusahaan yang memenuhi kriteria penelitian.Metode analisis yang digunakan adalah regresi data panel random effect model dengan bantuan aplikasi Stata. Uji dilakukan untuk mengetahui pengaruh langsung maupun interaksi antar variabel terhadap kinerja keuangan yang diproksikan melalui Return on Assets (ROA). Hasil pengujian menunjukkan bahwa R&D Intensity berpengaruh positif dan signifikan terhadap kinerja perusahaan. Hal ini menandakan bahwa investasi dalam penelitian dan pengembangan menjadi faktor penting yang mampu meningkatkan efisiensi operasional dan daya saing perusahaan manufaktur. Selanjutnya, penelitimenemukan bahwa Managerial Ability berpengaruh positif dan signifikan terhadap kinerja perusahaan. Temuan ini mendukung teori Upper Echelons yang menekankan bahwa karakteristik dan kemampuan manajerial tingkat atas sangat menentukan arah strategis dan kinerja organisasi. Namun, pada pengujian variabel moderasi, Managerial Ability tidak terbukti mampu memperkuat maupun memperlemah pengaruh R&D Intensity terhadap kinerja. Hal ini menunjukkan bahwa efek positif R&D intensity terhadap kinerja perusahaan lebih bersifat langsung, tanpa bergantung pada variabel kemampuan manajerial. Kata Kunci: Kinerja Perusahaan; Research &DevelopmentIntensity; Managerial Ability

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