The Influence of Enterprise Risk Management and Intellectual Capital on the Sustainabillity Growth of FMCG Companies in Indonesia
DOI:
https://doi.org/10.30872/miceb.v7i1.15578Keywords:
Enterprise Risk Management, Intellectual Capital, Sustainable Growth, FMCGAbstract
This study analyzes the effect of Enterprise Risk Management (ERM) and Intellectual Capital (IC) on the sustainability growth of Fast Moving Consumer Goods (FMCG) companies listed on the Indonesia Stock Exchange (IDX) during 2020–2024. ERM was measured using the COSO ERM 2017 framework consisting of 20 indicators, while IC was measured using the Value Added Intellectual Coefficient (VAIC). Sustainability growth was measured using the Sustainable Growth Rate (SGR). The sample, consisting of 10 companies and 50 observations, was selected using purposive sampling. Multiple linear regression was applied to test the hypotheses. Results indicate that both ERM and IC have no significant effect on sustainability growth. This suggests that other operational or financial factors may play a more dominant role in driving sustainable growth in FMCG companies
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