Pengaruh manajemen risiko terhadap pengambilan keputusan investasi pada perusahaan manufaktur
Abstract
This study aims to evaluate the impact of risk management on investment decisions in manufacturing companies. In the context of globalization and increasingly tight business competition, manufacturing companies face various challenges in making the right investment decisions. Risk management plays an important role in helping companies identify, evaluate, and manage various risks that can affect the achievement of their business goals. This study applies a quantitative approach with samples from manufacturing companies to test the hypothesis regarding the impact of risk management on the quality of investment decisions. The findings of this study indicate that the implementation of risk management in manufacturing companies is at a moderate to good level, covering four main aspects: risk identification, risk evaluation, risk mitigation, and monitoring and evaluation. The investment decision-making process is carried out in a structured manner. Companies that implement a good risk management system tend to make better quality investment decisions based on the right information. This study provides a practical contribution for manufacturing companies to improve their risk management system and integrate it into the investment decision-making process.
Downloads
References
Brigham, E. F., & Houston, J. F. (2019). Fundamentals of financial management (Edisi ke-15). Cengage Learning.
COSO - Committee of Sponsoring Organizations of the Treadway Commission. (2017). Enterprise risk management: Integrating with strategy and performance. COSO.
Damodaran, A. (2018). Investment valuation: Tools and techniques for determining the value of any asset (Edisi ke-4). John Wiley & Sons.
Gordon, L. A., Loeb, M. P., & Tseng, C. Y. (2009). Enterprise risk management and organizational performance: A contingency-based approach. Journal of Accounting and Public Policy, 28(4), 301–327. https://doi.org/10.1016/j.jaccpubpol.2009.06.006
Hillson, D., & Murray-Webster, R. (2017). Understanding and managing risk attitude (Edisi ke-2). Gower Publishing.
Jorion, P. (2020). Value at risk: The new benchmark for managing financial risk (Edisi ke-4). McGraw-Hill Education.
Lundqvist, S. A., & Vilhelmsson, A. (2018). The influence of enterprise risk management on default probabilities in the banking sector. Journal of Risk and Insurance, 85(1), 127–157. https://doi.org/10.1111/jori.12155
McShane, M. K., Nair, A., & Rustambekov, E. (2011). Assessing the impact of enterprise risk management on firm valuation. Journal of Accounting, Auditing & Finance, 26(4), 641–658. https://doi.org/10.1177/0148558X11409160
Pagach, D., & Warr, R. (2011). Analyzing firm-level determinants for appointing chief risk officers. Journal of Risk and Insurance, 78(1), 185–211. https://doi.org/10.1111/j.1539-6975.2010.01378.x
Porter, M. E. (2008). Competitive strategy: Techniques for analyzing industries and competitors. Free Press.
Ross, S. A., Westerfield, R. W., & Jaffe, J. (2020). Corporate finance (Edisi ke-12). McGraw-Hill Education.
Sari, D. P., & Budiman, N. A. (2021). Implementasi kebijakan manajemen risiko di sektor manufaktur Indonesia. Jurnal Manajemen Risiko Indonesia, 15(2), 45–62.
Wulandari, S., Hidayat, R., & Santoso, B. (2020). Pengaruh manajemen risiko perusahaan terhadap pengambilan keputusan investasi pada sektor manufaktur di BEI. Indonesian Journal of Finance and Accounting, 8(3), 112–128.
Copyright (c) 2025 reza khoirul umam
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work’s authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal’s published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work.
