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Board Governance and Debt Cost: Evidence from technology companies listed on the Indonesian capital market
Full text linkDebt cost is critical in strategic corporate decision-making, particularly for creditors and investors prioritizing fund recovery assurance. At the same time, top management must mitigate financial risks by establishing an optimal financing structure. This investigation aims to inspect the determinants of the cost of debt. According to the governance mechanism, one of the determinants is the supervisory board, which is quantifiable through the total number of people in this position and its independence. Furthermore, this investigation uses a quantitative design to verify the hypotheses, the saturated sampling method to select the Indonesian capital market technology companies between 2018 and 2023, the regression model with pooling data estimated by ordinary least squares (OLS), and the t-statistic to examine the hypotheses, and the generalized method of moments (GMM) to check the robustness of pooling data. Based on the estimation, both GMM and OLS provide an equal tendency, making the data robust. Overall, the size of the supervisory board has a positive influence on the cost of debt, but its independence has a negative one. Based on these circumstances, technology companies should establish a small supervisory board to reduce debt costs and consider additional outside supervisory boards to further decrease this cost
Pengaruh Leverage dan Ukuran Perusahaan terhadap Nilai Perusahaan dengan Profitabilitas sebagai Variabel Moderasi: Studi pada Perusahaan Sektor Industri di Bursa Efek Indonesia Periode 2020–2023
Full text linkThis study examines the effect of leverage and firm size on firm value and investigates the moderating role of profitability in industrial sector companies listed on the Indonesia Stock Exchange (IDX) during the 2020–2023 period. A quantitative approach with a causal associative design was employed, using 72 observations from 18 firms selected through purposive sampling. Data were obtained from annual financial statements and analyzed with Moderated Regression Analysis (MRA) using SPSS 27. The findings reveal that leverage and firm size do not significantly influence firm value, indicating that higher debt ratios or larger firm size alone do not enhance investor perceptions. However, profitability strengthens the relationship between leverage and firm value, while no moderating effect is observed in the link between firm size and firm value. These results contribute to financial literature by reaffirming the importance of profitability as a strategic factor in capital structure decisions. Practically, managers are encouraged to maintain strong profitability to ensure that debt financing strategies are positively perceived by investors and support value creation
The Role of Board Composition on ESG Disclosure: An Analytical Study in Indonesia
Full text linkMarket capitalization and Environmental, Social, and Governance (ESG) disclosure have become increasingly interconnected in contemporary corporate governance, yet the mechanisms through which board composition influences ESG transparency in emerging markets remain insufficiently explored. This study examines the relationship between board characteristics and ESG disclosure quality among Indonesian listed companies, specifically analyzing how these relationships manifest across different market capitalization thresholds. Using panel data regression analysis of 256 observations from 64 Indonesian Stock Exchange companies over 2019-2022, this research investigates the effects of board size, board meetings, female board representation, audit committee size, nomination and remuneration committee size, and board compensation on ESG disclosure practices. The study addresses a critical research gap by providing empirical evidence from Indonesia's underrepresented emerging market context, where corporate governance structures and disclosure practices differ markedly from Western frameworks. Results reveal that market capitalization demonstrates no significant impact on ESG disclosure quality, contradicting conventional expectations. Board size and female director representation exhibit unexpected negative relationships with ESG disclosure, suggesting coordination challenges and potential tokenistic appointments within Indonesian contexts. Conversely, audit committee size, nomination and remuneration committee size, and board compensation demonstrate robust positive associations with ESG transparency, highlighting their critical roles in enhancing oversight capacity and aligning managerial incentives. This research contributes theoretically by challenging universal governance prescriptions and demonstrating contextual variations in board mechanism effectiveness within emerging economies. Practically, findings suggest Indonesian corporations should prioritize committee-based governance structures and performance-linked compensation over numerical board expansion. Policymakers should emphasize substantive governance effectiveness through director training and accountability mechanisms rather than mandating demographic diversity targets alone. Future research should pursue longitudinal analysis and qualitative investigations to illuminate temporal dynamics and cultural mechanisms underlying governance-ESG relationships in Southeast Asian markets
Analysis of Environmental Accounting Applicationin Cattle Waste Management in Kabupaten Parigi Moutong
Full text linkThis research aims to analyze the application of environmental accounting in the management of cattle waste at the Harapan Baru II Farmers Group in Kabupaten Parigi Moutong. This research uses a qualitative approach with an exploratory case study method through interviews, observations, and documentation, which are analyzed using the Miles and Huberman model. The research results show that the group has processed livestock waste into economically valuable compost fertilizer, even tho they still use manual equipment. From a cost perspective, routine expenses such as the purchase of chalk and sacks have been recorded, but have not yet been separated from other operational costs. The group has also kept simple records through cash and asset books, but these are not fully compliant with PSAK 69. Socially, waste management receives community support because it does not cause pollution and increases income, but regulatory support from the government is still limited. This finding indicates that the application of environmental accounting among smallholder farmers is already happening in practice, but it needs to be strengthened through more detailed cost separation and the implementation of appropriate accounting standards
Pengaruh Growth Opportunity, Persistensi Laba, dan Prudence Accounting terhadap Earnings Response Coefficient : Resiko Sistematis sebagai Variabel Pemoderasi
Full text linkThis study aims to determine the effect of growth opportunity, earnings persistence, and prudence accounting on earnings response coefficient, with systematic risk as a moderator in manufacturing companies listed on the IDX for the period 2020 - 2024. The research method used is descriptive quantitative with secondary data in the form of sustainability reports and financial reports from 16 companies taken by purposive sampling from a population of 196 companies. The research method used in this analysis is the random effect model. The results of the analysis show that: 1). growth opportunity has a significant positive effect on earnings response coefficient; 2). Earnings persistence has a significant negative effect on earnings response coefficient; 3). Accounting prudence has a significant positive effect on earnings response coefficient; 4). Systematic risk can weaken the effect of growth opportunity and earnings persistence on earnings response coefficient; 5). Systematic risk can strengthen the effect of prudence accounting on earnings response coefficient
Pengaruh Likuiditas, Leverage, Sales Growth, Dan Capital Intensity Terhadap Financial Distress: Peran Moderasi Profitabilitas Pada Perbankan Indonesia
Full text linkThis study aims to analyze the effect of Liquidity, Leverage, Sales Growth, and Capital Intensity on Financial Distress, and to examine the moderating role of Profitability in banking sub-sector companies listed on the Indonesia Stock Exchange (IDX) for the 2018–2023 period. The study uses a quantitative approach with a causal associative design. A total of 120 observations (20 companies × 6 years) were selected using purposive sampling, based on criteria of data completeness and consistency in financial reporting. The secondary data were obtained from company financial statements through documentation, and analyzed using the Moderated Regression Analysis (MRA) with SPSS. The findings show that Liquidity and Leverage significantly influence Financial Distress, while Sales Growth and Capital Intensity do not. Moreover, Profitability significantly moderates the relationship between Liquidity and Financial Distress, but not for the other variables. This study contributes to the predictive modeling of financial distress in the financial sector using financial ratios with a moderation approach, and emphasizes the importance of profitability management to prevent bankruptcy risk
Peran Moderasi Literasi Keuangan dalam Hubungan Modal Intelektual Hijau, Keunggulan Kompetitif Hijau, dan Kinerja Keuangan UMKM
Full text linkThis research’s main objective is to improve the financial performance (FP) of MSMEs by improving the implementation of strategies based on Green Competitive Advantage (GCA) and GIC (Green Intellectual Capital) through financial literacy (FL). The development of MSMEs aligns with environmental sustainability. The high level of productivity, potential, and compatibility with environmental improvement made Sumbawa Regency, NTB, the study's choice. utilizing interview and survey methods to gather data and descriptive methods. Purposive sampling was employed to select respondents from a sample of 300. The study concludes that Green Intellectual Capital (GIC) and Green Competitive Advantage (GCA) exert a significant influence on the financial performance (FP) of micro, small, and medium enterprises (MSMEs). Furthermore, Financial Literacy (FL) functions as a moderating variable that strengthens the relationship between both GIC and GCA with MSMEs’ financial performance. The strategies, concepts, formulation patterns, and actions for adapting knowledge that support community and MSMEs’ independence include, in particular, highly qualified human resources, superior competencies based on knowledge innovation, and synergistic business competition in environmental protection with sound financial literacy. supporting ecosystem development plans and policies for long-term, continuous business growth
Peran Sekuritisasi Sebagai Pendanaan Ekspansi Kredit Pemilikan Rumah Pada Bank BTN
Full text linkBanks as intermediary institutions collect funds from the public in the form of and provide credit, one of which is Home Ownership Credit/KPR. However, there is a risk of a mismatch between funding and bank financing. KPR credit which has a long term is not comparable to funding sources from bank customer deposits which have a tenor of less than 1 year. Bank BTN as a bank that focuses on housing financing continues to pursue mortgage credit growth, one of which is by means of mortgage securitization. KPR securitization as a relatively cheap source of long-term funding is one of Bank BTN's ways of expanding KPR credit. The aim of this research is to determine the impact of securitization on the financial performance and company performance of Bank BTN. This research is expected to provide an understanding regarding KPR securitization and the development of KPR credit in Indonesia, especially KPR securitization carried out by Bank BTN in the period 2018 to 2023. The analytical method used in this research is qualitative descriptive analysis. The data used in this research uses secondary data sources, including publications of company financial reports, government policies and regulator reports. Data collection techniques in this research used documentation, observation and interview techniques. The research results show that although KPR securitization has a positive impact on Bank BTN's liquidity and is used as an alternative source of financing for KPR expansion, it does not have a significant impact on shareholder profits
Determinan Niat Melanjutkan Penggunaan SAP Pada PT BISI International Tbk: Expectation Confirmation Model, Technology Acceptance Model dan IS Success Model
No full textStudi Ini adalah penelitian tentang faktor-faktor yang mempengaruhi keingingan pengguna untuk terus menggunakan SAP di PT BISI International Tbk. Beberapa pendekatan model seperti Expectation Confirmation Model (ECM), Theory Acceptance Model (TAM) dan Information System Success Model (IS Success Model) digunakan untuk mengetahui hal tersebut. Jenis penelitian eksplanatori yang digunakan dalam penelitian ini adalah pendekatan kuantitatif. Pengumpulan data dilakukan melalui survei dengan kuesioner yang disebarkan kepada karyawan PT BISI International Tbk . Dalam penelitian ini menggunakan sampel sampel jenuh (saturation sampling) dengan teknik non probabilitas. Analisis data dengan Structural Equation Modeling (SEM). Hasil penelitian menunjukkan bahwa niat individu untuk terus menggunakan SAP di PT BISI International Tbk sebesar 70,8% dijelaskan oleh variabel sikap dan kepuasan pengguna. Sikap positif terhadap sistem informasi berperan penting dalam mendorong niat untuk terus menggunakan, sedangkan kepuasan tercipta ketika SAP memenuhi atau melampaui harapan pengguna. Variabel kepuasan pengguna dijelaskan 76,2% dari variabel laten eksogennya dan variabel sikap dijelaskan oleh variabel laten eksogen penyusunnya sebesar 65,9%, Namun, hasil penelitian ini menggambarkan tingkat kepuasan pengguna tidak signifikan dipengaruhi oleh kualitas sistem, hal ini dapat disebabkan oleh lingkungan organisasi yang bersifat wajib, dimana penggunaan SAP merupakan suatu keharusan untuk digunakan. Selain variabel kualitas sistem seluruhnya berpengaruh kepada variabel laten endogen
Dampak Green Accounting Terhadap Kinerja Keuangan Perusahaan Pertambangan Indonesia
Full text linkThis research aims to empirically test the influence of green accounting, environmental performance, capital structure and company size on the financial performance of coal mining companies listed on the Indonesia Stock Exchange in 2018-2022. Based on the purposive sampling method, a sample of 16 companies was produced. The data analysis technique uses multiple linear regression analysis with SPSS 26 program tools. The results of this research show that green accounting and capital structure do not have a positive influence on financial performance. Meanwhile, environmental performance and company size have a positive influence on the company's financial performance