The Impact of Intelligent Manufacturing on Firm Value: The Mediating Role of Innovation Performance and Financial Performance, and the Moderating Role of Manufacturing Risk

Abstract

This study aims to examine the impact of Intelligent Manufacturing on Firm Value in manufacturing companies listed on the Indonesia Stock Exchange, by considering the mediating roles of Innovation Performance and Financial Performance, as well as the moderating role of Manufacturing Risk. Grounded in the integration of Resource- Based View (RBV), Dynamic Capabilities Theory, and Organizational Risk Theory, this research proposes a comprehensive conceptual model that explains the value creation mechanisms of intelligent manufacturing investments. The study employs a quantitative approach with explanatory research design, utilizing secondary data from financial statements and annual reports of manufacturing companies during the 2019–2024 period. The analysis will be conducted using Structural Equation Modeling with Partial Least Squares (PLS-SEM) approach via SmartPLS 4.0. This research contributes to the literature by introducing a dual mediation model and incorporating manufacturing risk as a contingency factor, particularly within the context of a developing economy. The findings are expected to provide theoretical contributions to strategic management literature and practical insights for managers, investors, and policymakers regarding the strategic implementation of intelligent manufacturing technologies.