EFEK MODERASI BUSINESS GROUP AFFILIATION TERHADAP

HUBUNGAN INTERNASIONALISASI DAN FIRM PERFORMANCE

PADA PERUSAHAAN SEKTOR MANUFAKTUR YANG TERDAFTAR
DI BURSA EFEK INDONESIA PERIODE 2013-2017

Research Presentation

Melkisedek Candra 130215082

 Komparasi Hasil Penelitian Business Group
Affiliation Terhadap Hubungan Internasionalisasi
dan Firm Performance
Borda et al. Benito-Osorio et Altaf & Shah
Batsakis et al. 2018 Singla & George 2013
2017 al. 2016 2015
VARIABEL DEPENDEN
ROA ROA ROA ROA ROA
VARIABEL INDEPENDEN
INT Significant (+) Insignificant (-) Significant (-) Significant (-) Significant (-)
Acquired Shares Significant (+) - - - -
Group Insignificant (+) Significant (+) - - Insignificant (-)
PD - - - Significant (+) -
Variabel Moderasi
INT x Acquired Shares Significant (-) - - - -
INT x Group Insignificant (-) Significant (+) - - Significant (+)
INT x Acquired Shares x Group Significant (+) - - - -
INT x PD - - - Significant (+) -
Variabel Kontrol
SIZE Insignificant (+) Insignificant (+) Significant (+) Significant (+) Significant (+)
AGE Significant (-) Significant (+) Significant (+) - Significant (-)
LEV - - - Significant (-) Significant (-)
 KERANGKA & HIPOTESIS
Business Group
Affiliation (Group)

H2: - Firm
Internasionalisasi H1: -
Performance
(INT)
(ROA)

Control Variable
Size, Age, Lev
 TUJUAN PENELITIAN
Jenis Penelitian • Basic Research

Tujuan Penelitian • Causal Research

Pendekatan • Kuantitatif

Jenis Data • Data Panel

Sumber Data • Data Sekunder

Populasi • Seluruh Perusahaan yang terdaftar di BEI periode 2013-2017

Sampel • Perusahaan Manufaktur yang terdaftar di BEI periode 2013-2017

 Definisi Operasional
𝑛𝑒𝑡 𝑝𝑟𝑜𝑓𝑖𝑡𝑖𝑡
𝑅𝑂𝐴𝑖𝑡 =
𝑡𝑜𝑡𝑎𝑙 𝑎𝑠𝑠𝑒𝑡𝑖𝑡
𝑓𝑜𝑟𝑒𝑖𝑔𝑛 𝑆𝑎𝑙𝑒𝑠𝑖𝑡
𝐼𝑛𝑡𝑒𝑟𝑛𝑎𝑠𝑖𝑜𝑛𝑎𝑙𝑖𝑠𝑎𝑠𝑖𝑖𝑡 =
𝑇𝑜𝑡𝑎𝑙 𝑆𝑎𝑙𝑒𝑠𝑖𝑡
𝐺𝑟𝑜𝑢𝑝𝑖𝑡 = 1 (apabila setidaknya perusahaan memiliki 1 perusahaan afiliasi dan 0
apabila sebaliknya)
𝑆𝐼𝑍𝐸𝑖𝑡 = 𝐿𝑛(𝑇𝑜𝑡𝑎𝑙 𝑆𝑎𝑙𝑒𝑠𝑖𝑡 )

𝐴𝐺𝐸𝑖𝑡 = ෍ 𝑡𝑎ℎ𝑢𝑛 𝑏𝑒𝑟𝑑𝑖𝑟𝑖𝑛𝑦𝑎 𝑝𝑒𝑟𝑢𝑠𝑎ℎ𝑎𝑎𝑛

𝑇𝑜𝑡𝑎𝑙 𝐷𝑒𝑏𝑡𝑖𝑡
𝐿𝐸𝑉𝑖𝑡 =
𝑇𝑜𝑡𝑎𝑙 𝐴𝑠𝑠𝑒𝑡𝑖𝑡
 Data Penelitian

Jumlah Sampel

• 61

Waktu Penelitian

• 5 Tahun

Observasi Penelitian

• 305
 Pengujian Asumsi Klasik

• Uji Normalitas → Data ditemukan tidak normal

• Uji Multikolinearitas → Bebas multikolinearitas
• Uji Autokorelasi → Tidak Dilakukan Pengujian
• Uji Heteroskedastisitas → Data
Heteroskedastisitas → Generalized Least
Squares (GLS)
 Uji Chow
Variabel Dependen: ROA
Variabel Independen: INT, SIZE, AGE, LEV
Effect Test Statistic d.f. Prob
Cross-section F 9,625771 -60,240 0,0000
Cross-section Chi-square 373,82891 60 0,0000
Variabel Dependen: ROA
Variabel Independen: INT, Group, INT x Group, SIZE, AGE, LEV
Effect Test Statistic d.f. Prob
Cross-section F 9,004635 -60,238 0,0000
Cross-section Chi-square 361,36805 60 0,0000

Uji Chow → H1 diterima dan H0 ditolak , Fixed Effect lebih baik dari Common Effect
 Uji Hausman
Variabel Dependen: ROA
Variabel Independen: INT, SIZE, AGE, LEV
Test Summary Chi-Sq. Statistic Chi-Sq. d.f. Prob
Cross-section random 42,511836 4 0,0000
Variabel Dependen: ROA
Variabel Independen: INT, Group, INT x Group, SIZE, AGE, LEV
Test Summary Chi-Sq. Statistic Chi-Sq. d.f. Prob
Cross-section random 42,056501 6 0,0000

Uji Hausman → H1 diterima dan H0 ditolak , Fixed Effect lebih baik dari Random Effect
 Regresi Model 1
Variabel Coefficient Prob. Hipotesis
C -0,742129 0,0000
INT -0,172958 0,0001 -
SIZE 0,042653 0,0000
AGE -0,002589 0,0000
LEV -0,076593 0,0000
Effects Specification
R-Squared 0,936209 Mean dependen var 0,096049
Adjusted R-Squared 0,919198 S.D. dependent var 0,169450
S.E. of Regression 0,044727 Sum squared resid 0,480118
F-statistic 55,03574 Durbin-Watson stat 1,853592
Prob (F-statistic) 0,000000
 Regresi Model 2
Variabel Coefficient Prob. Hipotesis
C -0,721636 0,0000
INT -0,140913 0,0008 -
Group 0,016499 0,0002
INT x Group -0,041765 0,0089 -
SIZE 0,041509 0,0000
AGE -0,002755 0,0000
LEV -0,074543 0,0000
Effects Specification
R-Squared 0,935194 Mean dependen var 0,094398
Adjusted R-Squared 0,917222 S.D. dependent var 0,165406
S.E. of Regression 0,044474 Sum squared resid 0,470748
F-statistic 52,03770 Durbin-Watson stat 1,861537
Prob (F-statistic) 0,000000
 Research Result

H1 H2
H1 H1
DITERIMA DITERIMA

TERDAPAT PENGARUH
MEMPERKUAT
NEGATIF SIGNIFIKAN HUBUNGAN NEGATIF
TERHADAP KINERJA INTERNASIONALISASI
KEUANGAN DAN KINERJA
PERUSAHAAN (ROA) PERUSAHAAN (ROA)