Assessing the Moderating Role of Intellectual Capital on the Relationship Between Natural Disasters, Enterprise Risk Management, And Performance in Indonesian MSMEs
Keywords:
Intellectual Capital, Natural Disasters, Enterprise Risk Management, Performance, Indonesia MSMEs, SME performance.Abstract
The effective implementation of enterprise risk management and the optimal utilization of intellectual capital are increasingly recognized as essential factors in enhancing the resilience and sustainability of Small and Medium Enterprises (SMEs) operating in disaster-prone environments. This study investigates the influence of natural disasters and enterprise risk management on the performance of Indonesian SMEs while also examining the moderating role of intellectual capital in these relationships. The research was conducted among SMEs operating in the XY region of Indonesia, an area characterized by considerable exposure to natural disaster risks. Employing a quantitative research design, data were collected through structured questionnaires distributed to XX SMEs selected using purposive sampling techniques. The proposed relationships were assessed using Partial Least Squares Structural Equation Modelling (PLS-SEM). The results reveal that natural disasters, enterprise risk management, and intellectual capital each exert a significant positive influence on SME performance. The findings further indicate that the moderating effect of intellectual capital is not uniform across the proposed relationships. While intellectual capital does not significantly strengthen the relationship between natural disasters and SME performance, it significantly enhances the positive effect of enterprise risk management on SME performance. These findings suggest that both enterprise risk management and intellectual capital play important roles in improving organizational performance, particularly for SMEs operating under conditions of disaster-related uncertainty and risk.
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