Article Sidebar

Submitted
May 20, 2025
Accepted
July 9, 2025
Published
July 30, 2025
Download
PDF
Statistic
Read Counter : 21 Download : 11

Downloads

Download data is not yet available.

Main Article Content

Abstract

This research explores whether Lean Manufacturing serves as a connecting mechanism between corporate governance practices and firm value. The study adopts a quantitative design and utilizes secondary data obtained from food and beverage sector firms listed on the Indonesia Stock Exchange (IDX) from 2019 to 2023. A purposive sampling approach was employed, resulting in 11 companies that met the defined criteria, leading to 55 firm-year observations. Data were analyzed using path analysis through SPSS.The empirical results indicate that the components of corporate governance, namely the proportion of independent commissioners and the presence of an audit committee, do not significantly influence firm value. Likewise, Lean Manufacturing demonstrates no meaningful impact on firm value. Among the governance variables, only independent commissioners have a significant yet negative effect on Lean Manufacturing practices. The mediating role of Lean Manufacturing in the relationship between corporate governance and firm value is not statistically supported, although an indirect path is structurally present. In summary, Lean Manufacturing does not act as an effective intermediary in linking governance mechanisms to firm performance within the examined firms and period

Article Details

License

Copyright (c) 2025 Fernanda Putri Jelita, Tantina Haryati

Creative Commons License

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

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

Hak Cipta (Copyright)

Penulis yang mempublikasikan naskahnya pada Jurnal ini menyetujui ketentuan berikut:

Hak cipta pada setiap artikel adalah milik penulis.

  1. Penulis mengakui bahwa Jurnal  Current : Jurnal Kajian Akuntansi dan Bisnis Terkini berhak sebagai yang mempublikasikan pertama kali dengan lisensi Creative Commons Attribution 4.0 International License.
  2. Penulis dapat memasukan tulisan secara terpisah, mengatur distribusi non-ekskulif  dari naskah yang telah terbit di jurnal ini kedalam versi yang lain (misal: dikirim ke respository institusi penulis, publikasi kedalam buku, dll), dengan mengakui bahwa naskah telah terbit pertama kali pada Jurnal  Current :Jurnal Kajian Akuntansi dan Bisnis Terkini.
How to Cite
Jelita, F. P., & Haryati, T. (2025). APAKAH LEAN MANUFACTURING MEMEDIASI HUBUNGAN ANTARA CORPORATE GOVERNANCE DAN NILAI PERUSAHAAN? DOES LEAN MANUFACTURING MEDIATE THE RELATIONSHIP BETWEEN CORPORATE GOVERNANCE AND FIRM VALUE?. CURRENT: Jurnal Kajian Akuntansi Dan Bisnis Terkini, 6(2), 452–466. https://doi.org/10.31258/current.6.2.452-466
Download Citation
Endnote/Zotero/Mendeley (RIS)
BibTeX

References

  1. Adawiyah, R., Lidyah, R., & Hartini, T. (2022). Pengaruh Good Corporate Governance terhadap Nilai Perusahaan pada Perusahaan Sektor Pertambangan yang Listing di Bursa Efek Indonesia (BEI) pada Tahun 2016-2020. Jurnal Intelektualita: Keislaman, Sosial Dan Sains, 11(2), 214–221. https://doi.org/10.19109/intelektualita.v11i2.14033
  2. Andreas, A., & Gumanti, T. A. (2022). Organizational culture and company values: a cross-sectional study on public companies in Indonesia. Jurnal Siasat Bisnis, 27(1), 76–85. https://doi.org/10.20885/jsb.vol27.iss1.art6
  3. Baron, R. M., & Kenny, D. A. (1986). The moderator–mediator variable distinction in social psychological research: Conceptual, strategic, and statistical considerations. Journal of Personality and Social Psychology, 51(6), 1173–1182.
  4. Bhasin, S. (2012). Prominent obstacles to lean. International Journal of Productivity and Performance Management, 61(4), 403–425
  5. Firmansyah, A., Setiawan, T. A., & Fathurahman, F. (2020). Nilai Perusahaan: Kebijakan Utang, Good Corporate Governance, Cash Holding. Jurnal Akuntansi Dan Bisnis, 20(2), 237. https://doi.org/10.20961/jab.v20i2.568
  6. Fu, H., Chang, Y., & Cheng, Y. (2020). The influence of corporate governance on lean implementation and firm performance. Journal of Manufacturing Technology Management, 31(8), 1679–1699. https://doi.org/10.1108/JMTM-01-2020-0021
  7. Fu, Y., Liu, R., Yang, J., Jiao, H., & Jin, Y. (2020). “Lean in”: the moderating effect of female ownership on the relationship between human capital and organizational innovation. Journal of Intellectual Capital, 22(4), 792–814. https://doi.org/10.1108/JIC-10-2019-0236
  8. Giannetti, B. F., Scarpelin, J., Di Agustini, C. A., Paranhos, M. A., Lozano, P. A., Agostinho, F., & Almeida, C. M. (2022). Perceived value versus real value: Why can investors in sustainable companies fail in their mission?. Cleaner Production Letters, 3, 100020.
  9. Hajarana, S., Amal, M. A., & Faisal, M. F. (2025). Implementation of Good Corporate Governance in Madrasah Cooperatives as a Strategic Management Approach. Business and Applied Management Journal, 2(2), 100-111
  10. Iacopetta, M., & Peretto, P. F. (2021). Corporate governance and industrialization. European Economic Review, 135. https://doi.org/10.1016/j.euroecorev.2021.103718
  11. Inuwa, M., & Rahim, S. B. A. (2020). Lean readiness factors and organizational readiness for change in manufacturing SMEs: The role of organizational culture. Journal of Critical Reviews, 7(5), 56-67.
  12. Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305–360. https://doi.org/10.1016/0304-405X(76)90026-X
  13. Kungu, G. (2024). Corporate Governance, Capital Structure, Ownership Structure and Value of Non-financial Firms Listed at the Nairobi Securities Exchange (Doctoral dissertation, University of Nairobi).
  14. Negrão, L. L. L., Lopes de Sousa Jabbour, A. B., Latan, H., Godinho Filho, M., Chiappetta Jabbour, C. J., & Ganga, G. M. D. (2020). Lean Manufacturing and business performance: testing the S-curve theory. Production Planning and Control, 31(10), 771–785. https://doi.org/10.1080/09537287.2019.1683775
  15. Netland, T. H. (2016). Critical success factors for implementing lean production: The effect of contingencies. International Journal of Production Research, 54(8), 2433–2448. https://doi.org/10.1080/00207543.2015.1096976
  16. Palange, A., & Dhatrak, P. (2021). Lean Manufacturing a vital tool to enhance productivity in manufacturing. Materials Today: Proceedings, 46, 729-736.
  17. Putra, H. S. (2020). Pengaruh Current Ratio dan Total Assets Turnover Terhadap Price to Book Value Dengan Dimediasi Oleh Return On Equity Pada Perusahaan Sub Sektor Farmasi Yang Terdaftar Di Bursa Efek Indonesia. Maneggio: Jurnal Ilmiah Magister Manajemen, 3(1), 92-106.
  18. Samlal, Z. (2020). Corporate governance and business innovation among listed Moroccan companies. Journal of Economics, Finance and Administrative Science, 25(49), 61–72. https://doi.org/10.1108/JEFAS-05-2019-0074
  19. Saraswati, R. S., Yadiati, W., Suharman, H., & Soemantri, R. (2024). Corporate governance, intellectual capital, and organizational culture: their influence on Lean Manufacturing and firm value. Cogent Business and Management, 11(1). https://doi.org/10.1080/23311975.2024.2382335
  20. Womack, J. P., & Jones, D. T. (2003). Lean Thinking: Banish Waste and Create Wealth in Your Corporation. Free Press.
  21. Wu, W., Liang, Z., & Zhang, Q. (2022). Technological capabilities, technology management and economic performance: the complementary roles of corporate governance and institutional environment. Journal of Knowledge Management, 26(9), 2416–2439. https://doi.org/10.1108/JKM-02-2021-0135