The The Role of Human Capital, Ethnicity and Foreign Markets in Indonesia


  • Lina Damayanti STIE Jaya Negara Tamansiswa Malang, Indonesia


Human Capital, Ethnicity, Foreign Market, Indonesia


Indonesia has racial and cultural diversity which is its own strength when collaborating in a company.
We collected data from 102 companies in Indonesia spread throughout Indonesia. We examine multiethnic or racial issues, foreign markets, company size, women's involvement, and gender equality in
companies. We analyzed the data using the ARDL model.This study found that racial diversity,
women's involvement, gender equality, company size, and international market give color to the
company so that the company has the characteristics and uniqueness of the mix of diversity that
ultimately improves the company's financial performance. This study finds that diversity is a separate
strength for companies in developing their business