Asian Journal of Economics, Business and Accounting

Aims: Corporate performance management is very important in supporting the achievement of organizational goals. This research investigates how financial structure and board diversity influence financial performance, with intellectual capital serving as a mediating factor.

Study Design: This study is a quantitative analysis that employs a purposive sampling approach to investigate companies in the financial services sector listed on the Indonesia Stock Exchange (IDX) from 2020 to 2023.

Methodology: This study used 104 companies as the population, and 30 companies with 82 data were used as the sample. The analysis technique used was the classic assumption test, regression analysis, and SobelSobel test on SPSS 26.

Conclusion and Recommendations: The study revealed that financial structure positively influences intellectual capital, whereas gender diversity has no effect, and nationality diversity negatively impacts intellectual capital. Additionally, intellectual capital positively affects financial performance and serves as a mediator between financial structure and financial performance; however, it does not mediate the relationship with gender diversity and negatively mediates the relationship with nationality diversity. These results align with agency theory and the resource-based view, highlighting the significance of effectively managing intellectual capital to enhance financial performance. In conclusion, companies should focus on managing diversity and resources to attain a competitive advantage.