Abstract:The increasing demand for corporate transparency in sustainability practices, the development of ESG reporting regulations in Indonesia, and the persistent issues of credibility in disclosures such as greenwashing and inconsistent…
consistent information quality indicate that Environmental, Social, and Governance (ESG) disclosures are not always perceived positively by the market. This condition is important because ESG disclosures that are not supported by substantive implementation may be viewed as an additional cost, risk, or merely a form of compliance, which in turn may reduce firm value. Therefore, this study aims to analyze the effect of environmental disclosure, social disclosure, and governance disclosure on firm value by incorporating independent commissioners as a moderating variable. Firm value is measured using Tobin’s Q because it reflects market valuation of the company’s performance and growth prospects. The sample consists of companies included in the SRI-KEHATI index during the 2020–2024 period, with a total of 227 unbalanced panel observations analyzed using panel data regression. The results show that environmental disclosure, social disclosure, and governance disclosure have a negative and significant effect on firm value. Independent commissioners are able to weaken the negative effect of environmental disclosure and governance disclosure on firm value, but they are unable to moderate the relationship between social disclosure and firm value. These findings suggest that ESG disclosure in sustainability-oriented companies is not yet fully perceived as a value-creating factor when it is not supported by convincing implementation quality. Practically, these findings are intended to encourage companies not only to increase the extent of ESG disclosure, but also to strengthen the substantive implementation and supervisory role of independent commissioners to enhance the credibility of sustainability information
Abstract:This study aims to analyze the influence of Environmental (E), Social (S), and Governance (G) on corporate financial performance as measured by Return on Assets (ROA) and Return on Invested Capital (ROIC) in companies listed…
sted on the LQ45 index of the Indonesia Stock Exchange for the 2023-2025 period, with Company Size (SIZE) as a control variable. The study uses a quantitative method with secondary data obtained from annual reports and corporate sustainability reports. The sample was determined using a purposive sampling technique, resulting in 45 observations included in the LQ45 for the 2023-2025 period. Data analysis was performed using panel data regression with the help of EViews 13 software. The results show that Environmental has a positive and significant effect on ROA and ROIC, while Governance also has a positive and significant effect on both indicators. Conversely, Social does not have a significant effect on ROA or ROIC. The coefficient of determination value indicates that the model is able to explain variations in ROA by 29.7% and ROIC by 32.3%. These findings indicate that environmental practices and corporate governance play an important role in improving financial performance, while the implementation of social aspects has not had a significant impact during the study period.
Abstract:The economic structure of Aceh Province is still dominated by the agriculture, forestry, and fisheries sectors, while the contribution of the manufacturing industry sector is relatively lagging. This condition indicates…
that the structural transformation process in Aceh has not yet taken place optimally, so that the economic growth that occurs tends to be quantitative, marked by an increase in aggregate output, but does not fully reflect an increase in the quality of the economic structure. This study aims to analyze the influence of the agriculture, manufacturing industry, and mining sectors on the growth of the Regional Gross Regional Domestic Product (GRDP) of Aceh Province. The approach used is quantitative with secondary data sources from the BPS of Aceh Province. This study uses panel data which is a combination of cross-regional data and time series data from 2019 to 2023. The results of the study indicate, first; the agricultural sector has a positive effect on GRDP. This is based on the probability value of the agricultural sector variable, which is 0.002. This value is smaller than 0.05. Second; the industrial sector has no effect on GRDP. This is based on the probability value of the industrial sector variable, which is 0.610. This value is greater than 0.05. Third; the mining sector has a positive effect on GRDP. This is based on the probability value of the mining sector variable, which is 0.001. Fourth; The agricultural, industrial and mining sectors have a joint influence on the dependent variable, namely GRDP in Aceh Province
Abstract:This study examines the effects of health, education, economic, and infrastructure expenditures, economic growth, investment, and the Labor Force Participation Rate (LFPR) on the Human Development Index (HDI) in Indonesia.…
a. It also compares the determinants of HDI between Western and Eastern Indonesia. Using a quantitative approach, the study applies panel data regression with the Common Effect Model and Ordinary Least Squares method. Secondary data from 2012–2021 were obtained from Statistics Indonesia, the Ministry of Finance, and other official institutions. The results show that all independent variables simultaneously have a significant effect on HDI. Partially, education expenditure, infrastructure expenditure, and investment have positive and significant effects, while health expenditure, economic expenditure, economic growth, and LFPR are statistically insignificant. Regional analysis reveals different determinants of HDI. In Western Indonesia, education expenditure, infrastructure expenditure, economic growth, and LFPR significantly affect HDI. In Eastern Indonesia, infrastructure expenditure, investment, and LFPR are significant determinants. These findings demonstrate that regional disparities in human development are associated with differences in economic capacity, infrastructure quality, investment distribution, connectivity, and development governance. Therefore, place-based development policies are required to improve the effectiveness and equity of human development, particularly in Eastern Indonesia.
Abstract:Poverty remains one of the major development challenges in South Sulawesi, particularly in regencies with relatively high poverty rates. This study aims to examine the effects of Gross Regional Domestic Product (GRDP) growth,…
owth, educational attainment, and the open unemployment rate on poverty across nine regencies in South Sulawesi during the 2016–2025 period. This research employed a quantitative approach using panel data obtained from the Statistics Indonesia. The research sample consisted of nine regencies that consistently recorded high poverty rates, namely Selayar Islands Regency, Jeneponto Regency, Pangkajene and Islands Regency, Bone Regency, Enrekang Regency, Luwu Regency, Tana Toraja Regency, North Luwu Regency, and North Toraja Regency. The analytical method applied was panel data regression using the Common Effect Model (CEM), Fixed Effect Model (FEM), and Random Effect Model (REM), with the optimal model selected through the Chow test and Hausman test. The findings reveal that GRDP growth has a negative effect on poverty, educational attainment has a negative and statistically significant effect on poverty, whereas the open unemployment rate has a positive effect on poverty. Simultaneously, GRDP growth, educational attainment, and the open unemployment rate significantly influence poverty in South Sulawesi. These findings suggest that poverty alleviation policies should prioritize equitable economic growth, improvements in educational quality, and the expansion of productive employment opportunities.
Abstract:This research aims to analyze the influence of internal and external bank factors which include Capital Adequacy Ratio (CAR), Loan to Deposit Ratio (LDR), Non-Performing Loans (NPL), interest rates, inflation and economic…
c growth on Return on Assets (ROA) in conventional banking in Indonesia. This research uses quantitative methods with a causality approach. The data used is secondary data obtained from bank financial reports and official publications related to the research period. The analysis technique used is panel data regression using model selection tests, classical assumption tests, and hypothesis tests. The research results show that all independent variables simultaneously influence ROA. Partially, NPL has a significant negative effect on ROA, while other variables such as CAR, LDR, interest rates, inflation and economic growth show varying effects on bank profitability. This research concludes that credit risk is the dominant factor influencing banking financial performance.
Abstract:This study aims to analyze the effect of government financial report accountability on the achievement of Sustainable Development Goals (SDGs) 1 in Indonesia. The study used secondary data obtained from the Central Statistics…
stics Agency (BPS) and the Supreme Audit Agency (BPK). The study sample consisted of 456 local governments with an observation period of 2021–2022, resulting in 912 observations. The analytical method used was panel data regression with the Generalized Least Squares (GLS) approach and the Random Effects Model (REM). The results showed that government financial report accountability has a positive and significant effect on the achievement of SDG 1. The coefficient value of 0.645 with a significance level of 0.000 indicates that the better the level of local government accountability, the higher the achievement of poverty alleviation. This study proves that transparent, accountable, and effective financial governance can support the success of government programs in improving public welfare and accelerating the achievement of sustainable development in Indonesia.
Abstract:This study aims to analyze the influence of accountability and transparency in local government financial reports on the achievement of Sustainable Development Goals (SDGs) 11, specifically the indicator of access to decent…
ent and affordable housing in Indonesia. The study used panel data from 31 provinces during the 2021–2024 period with a total of 124 observations. The research data were obtained from the Central Statistics Agency (BPS), the Supreme Audit Agency (BPK), and official local government websites related to the publication of financial reports. Data analysis was conducted using the Generalized Least Squares (GLS) method with a Random Effect Model (REM) approach. The results of the study indicate that accountability has a positive and significant effect on the achievement of SDG 11. These findings indicate that accountable regional financial management can increase the effectiveness of housing and settlement development programs. Transparency also has a positive and significant effect on the achievement of SDG 11, with a stronger effect than accountability. Openness of financial information encourages public oversight of regional budget use and increases the efficiency of development program implementation. The results of simultaneous testing indicate that accountability and transparency together have a significant effect on the achievement of the indicator of access to decent and affordable housing. The research findings support the theory of good governance, which places accountability and transparency as essential elements in improving the quality of local government governance. This study provides an empirical contribution regarding the relationship between local government financial governance and the achievement of sustainable settlement development in Indonesia.
Abstract:This study aims to analyze the factors that affect rice consumption in South Sulawesi Province using a panel data approach for 2018–2024. The dependent variables used are rice consumption (tons), while the independent variables…
variables include per capita income, household size, rice production, human development index (HDI), and percentage of poor population. The analysis was performed with a panel data regression model using R software, with a series of model specification tests including the Chow test, the Hausman test, and the Lagrange Multiplier (LM) test. The best model obtained is the Fixed Effect Model (FEM). Partially, the variables of household size and rice production had a significant negative effect on rice consumption, while HDI had a significant positive effect. The variables of per capita income and poverty level have a negative but not significant effect. These results indicate that rice consumption in South Sulawesi is more influenced by social aspects and quality of life than purely economic factors. These findings affirm the importance of food security policies that focus on improving human development, rice distribution efficiency, and strengthening social protection programs to maintain the stability of household food consumption.
Abstract:This study aims to examine the partial influence of firm size, firm value, and systematic risk on stock returns of companies in the property and real estate sector listed on the Indonesia Stock Exchange during the 2020 –2024…
��2024 period. The research employs a quantitative approach and utilizes documentation methods. The population of this study consists of all property and Real estate sector companies within the 2020 –2024 period, The sample was selected using purposive sampling based on predetermined criteria, resulting in 14 companies. Panel data regression analysis was conducted using the Economic Views (EViews) version 12 software. The findings of the study reveal that, Firm size has a positive and significant effect on stock returns of property and real estate sector companies during the 2020–2024 period. Furthermore, firm value (PBV) is shown to have a positive and significant effect on stock returns, and systematic risk (Beta) likewise exerts a positive and significant influence on stock Returns within the same period.