Moderasi Pengetahuan Pengalaman Internasional dalam Pengaruh Reputasi Perusahaan terhadap Akuisisi Lintas Negara
DOI:
https://doi.org/10.32534/jpk.v11i1.5390Abstract
Tren merger dan akuisisi terus berlanjut dalam dunia persaingan bisnis. Perusahaan bergencar-gencar memperluas skala pasar secara global. Namun, dapat terjalinnya dan keberhasilan hubungan akuisisi dapat disebabkan oleh berbagai faktor. Penelitian ini bertujuan untuk mengetahui pengaruh moderasi pengetahuan pengalaman internasional dalam pengaruh reputasi perusahaan terhadap akuisisi lintas batas. Data sampel dalam penelitian ini meliputi 48 perusahaan yang terdaftar di Bursa Efek Indonesia yang memiliki corporate acquisition pada periode 2018-2021. Teknik pemilihan sampel yang digunakan adalah purposive sampling dengan metode analisis data berupa regresi logistik menggunakan aplikasi Smart PLS. Hasil penelitian menemukan bahwa reputasi memiliki efek negatif pada akuisisi lintas batas. Selain itu, hasil penelitian ini juga menemukan bahwa pengetahuan pengalaman internasional mampu memoderasi pengaruh yang signifikan dan positif terhadap hubungan reputasi perusahaan dan akuisisi lintas negara. Tingkat reputasi tinggi juga belum tentu merupakan langkah strategis. Reputasi yang dimiliki tidak cukup untuk dijadikan pondasi namun perlu diimbangi dengan pengalaman yang ada. Dengan demikian, perusahaan mampu mengurangi resiko dan lebih sadar akan hubungan berskala internasional.
Keywords:
Akuisisi Lintas Negara, Reputasi Perusahaan, Pengetahuan Pengalaman InternasionalDownloads
References
Andrian, A. D., & Listyowati, L. (2019). Analisis Kinerja Keuangan Sebelum dan Setelah Akuisisi (Studi pada Perusahaan yang Terdaftar di BEI). Jurnal Akuntansi Dan Perpajakan, 5(2), 95–114. https://doi.org/10.26905/ap.v5i2.5765
Andriosopoulos, D., & Yang, S. (2015). The impact of institutional investors on mergers and acquisitions in the United Kingdom. Journal of Banking and Finance, 50(March), 547–561. https://doi.org/10.1016/j.jbankfin.2014.06.004
Barringer, B. R., & Greening, D. W. (1998). Small business growth through geographic expansion: A comparative case study. Journal of Business Venturing, 13(6), 467–492. https://doi.org/10.1016/S0883-9026(97)00038-4
Buckley, P. J., Munjal, S., Enderwick, P., & Forsans, N. (2016). The role of experiential and non-experiential knowledge in cross-border acquisitions: The case of Indian multinational enterprises. Journal of World Business, 51(5), 675–685. https://doi.org/10.1016/j.jwb.2016.07.006
Cheng, C., & Yang, M. (2017). Enhancing performance of cross-border mergers and acquisitions in developed markets: The role of business ties and technological innovation capability. Journal of Business Research, 81(January), 107–117. https://doi.org/10.1016/j.jbusres.2017.08.019
Dang, M., Henry, D., & Hoang, V. A. D. (2017). Target CEO age, ownership decisions, and takeover outcomes. Research in International Business and Finance, 42(July 2016), 769–783. https://doi.org/10.1016/j.ribaf.2017.07.015
Dau, L. A., Moore, E. M., & Newburry, W. (2020). The grass is always greener: The impact of home and host country CSR reputation signaling on cross-country investments. Journal of International Business Policy, 3(2), 154–182. https://doi.org/10.1057/s42214-020-00049-7
Dewi, P. Y. K., & Suryantini, N. P. S. (2018). Analisis Perbandingan Kinerja Keuangan Perusahaan Sebelum Dan Sesudah Akuisisi. E-Jurnal Manajemen Universitas Udayana, 7(5), 2323. https://doi.org/10.24843/ejmunud.2018.v07.i05.p01
Edi, E., Basri, Y. Z., & Arafah, W. (2020). CEO CHARACTERISTICS, FIRM REPUTATION AND FIRM PERFORMANCE AFTER MERGER AND ACQUISITION. Business: Theory and Practice, 21(2), 850–858. https://doi.org/10.3846/btp.2020.12782
Edi, E., & Wati, E. (2022). Measuring Intangible Asset: Firm Reputation. Business: Theory and Practice, 23(2), 396–407. https://doi.org/10.3846/btp.2022.15945
Eriksson, K., Johanson, J., Majkgård, A., Sharma, D. D. (2015). Experiential Knowledge and Cost in the Internationalization Process. Knowledge, Networks and Power: The Uppsala School of International Business, May, 41-63. Retrieved from https://link.springer.com/chapter/10.1057/9781137508829_2
Galavotti, I., Cerrato, D., & Depperu, D. (2017). Experience and Cross-Border Acquisitions: An Organizational Learning Perspective. European Management Review, 14(2), 119–131. https://doi.org/10.1111/emre.12094
Haleblian, J. J., Pfarrer, M. D., & Kiley, J. T. (2017). High-Reputation Firms and Their Differential Acquisition Behaviors. Business, 920(October), 1–43. https://doi.org/10.1002/smj
Hassan, I., Ghauri, P. N., & Mayrhofer, U. (2018). Merger and acquisition motives and outcome assessment. Thunderbird International Business Review, 60(4), 709–718. https://doi.org/10.1002/tie.21967
Hitt, M. a, & Pisano, V. (2003). Management Research : The Journal of the Iberoamerican Academy of Management Emerald Article : The Cross-Border Merger and Acquisition Strategy : A Research Perspective. Management Research, 1(2), 133–144. http://dx.doi.org/10.1108/15365430380000522
Kurniati, A. (2017). Analisis Kinerja Keuangan Sebelum Dan Sesudah Akuisisi Pada Perusahaan Pengakuisisi Yang Terdaftar Di Bursa Efek Indonesia ( BEI ) Ami Kurniati Program Studi S-1 Manajemen , STIE Putra Bangsa Kebumen Email : ami.kurniati.ak@gmail.com Abstrak Tujuan peneli. 1–7. Retrieved from http://eprints.universitasputrabangsa.ac.id/id/eprint/529/1/Jurnal%20Ami%20Kurniati_165502688.pdf
Lai, J. H., Lin, W. C., & Chen, L. Y. (2017). The influence of CEO overconfidence on ownership choice in foreign market entry decisions. International Business Review, 26(4), 774–785. https://doi.org/10.1016/j.ibusrev.2017.01.006
Lamotte, O., Chalençon, L., Mayrhofer, U., & Colovic, A. (2021). Intangible resources and cross-border acquisition decisions: The impact of reputation and the moderating effect of experiential knowledge. Journal of Business Research, 131(March), 297–310. https://doi.org/10.1016/j.jbusres.2021.03.044
Lange, D., Lee, P. M., & Dai, Y. (2011). Organizational reputation: A review. Journal of Management, 37(1), 153–184. https://doi.org/10.1177/0149206310390963
Medco Energi. (2021). Annual Report 2021. Retrieved from https://www.medcoenergi.com/en/subpagelist/view/72
Mukherjee, D., Makarius, E. E., & Stevens, C. E. (2018). Business group reputation and affiliates’ internationalization strategies. Journal of World Business, 53(2), 93–103. https://doi.org/10.1016/j.jwb.2017.12.003
Mukherjee, D., Makarius, E. E., & Stevens, C. E. (2021). A reputation transfer perspective on the internationalization of emerging market firms. Journal of Business Research, 123(October 2019), 568–579. https://doi.org/10.1016/j.jbusres.2020.10.026
Nuansari, S. D., & Windijarto, W. (2020). Kinerja Merger dan Akuisisi, Pengalaman Direktur, Usia Direktur, Masa Jabatan Direktur, dan Board Size di Indonesia. J-MKLI (Jurnal Manajemen Dan Kearifan Lokal Indonesia), 3(2), 84. https://doi.org/10.26805/jmkli.v3i2.67
Parker, O., Krause, R., & Devers, C. E. (2019). HOW FIRM REPUTATION SHAPES MANAGERIAL DISCRETION Academy of Management Review Owen Parker Oklahoma State University Ryan Krause Texas Christian University Texas A & M University Acknowledgements : The authors are greatly appre. https://doi.org/10.5465/amr.2016.0542
Peteraf, M. A. (1993). The Cornerstones of Competitive Advantage: A Resource-Based View. Strategic Management Journal, 14(3), 76–93. https://doi.org/10.4324/9781315885926-15
Purnomo, R. (2011). Resource-Based View dan Keunggulan Bersaing Berkelanjutan: Sebuah Telaah Kritis Terhadap Pemikiran Jay Barney (1991). Sustainable Competetive Advantage, 1, 1–16. http://jp.feb.unsoed.ac.id/index.php/sca-1/article/view/111
Scalera, V. G., Mukherjee, D., & Piscitello, L. (2020). Ownership strategies in knowledge-intensive cross-border acquisitions: Comparing Chinese and Indian MNEs. Asia Pacific Journal of Management, 37(1), 155–185. https://doi.org/10.1007/s10490-018-9616-6
Slangen, A. H. L., & Hennart, J. F. (2008). Do multinationals really prefer to enter culturally distant countries through greenfields rather than through acquisitions? the role of parent experience and subsidiary autonomy. Journal of International Business Studies, 39(3), 472–490. https://doi.org/10.1057/palgrave.jibs.8400356
Stevens, C. E., & Makarius, E. E. (2015). Overcoming Information Asymmetry in Foreign Entry Strategy: The Impact of Reputation. Global Strategy Journal, 5(3), 256–272. https://doi.org/10.1002/gsj.1099
Sidik, S. (2022). Akuisisi ConocoPhillips Rp 19 T, Medco Siap Gelar RUPLSB. Retrieved from https://www.cnbcindonesia.com/market/20220203160754-17-312670/akuisisi-conocophillips-rp-19-t-medco-siap-gelar-ruplsb
Tanna, S., & Yousef, I. (2019). Mergers and acquisitions: implications for acquirers’ market risk. Managerial Finance, 45(4), 545–562. https://doi.org/10.1108/MF-09-2018-0446
Tarigan, J., Yenewan, S., & Natalia, G. (2016). Merger dan Akuisisi dari Prespektif Strategis dan Kondisi Indonesia (Pendekatan Konsep dan Studi Kasus). Jurnal Merger Dan Akuisiss, 1(6), 39–59.
Wu, Z., & Salomon, R. (2017). Deconstructing the liability of foreignness: Regulatory enforcement actions against foreign banks. Journal of International Business Studies, 48(7), 837–861. https://doi.org/10.1057/s41267-017-0092-x
Xie, E., Reddy, K. S., & Liang, J. (2017). Country-specific determinants of cross-border mergers and acquisitions: A comprehensive review and future research directions. Journal of World Business, 52(2), 127–183. https://doi.org/10.1016/j.jwb.2016.12.005
Yin, M., & Tian, R. (2023). Cross-border mergers and acquisitions: A double-edged sword for Chinese firms’ innovation performance. Cogent Social Sciences, 9(2). https://doi.org/10.1080/23311886.2023.2272320
Zavyalova, A., Pfarrer, M. D., Reger, R. K., & Hubbard, T. D. (2016). Reputation as a benefit and a burden? Academy of Management Journal, 59(1), 253–276. https://doi.org/10.5465/amj.2013.0611
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 Jurnal Proaksi
This work is licensed under a Creative Commons Attribution 4.0 International License.
