Affect Company Performance Research Articles

Does the Imbalance of ESG Activities Affect Company Performance? -- Evidence from Chinese A-share Listed Companies from 2018-2022

In recent years, the concept of sustainable development has progressively gained traction among the populace, with the performance of enterprises in environmental, social, and corporate governance (ESG) aspects attracting widespread attention from various sectors of society. The weighting of E, S, and G components varies across domestic and international ESG rating agencies, often resulting in significantly divergent weighted ESG scores. Leveraging the theory of organizational ambidexterity, this paper empirically investigates the impact of discrepancies between institutional ESG scores and equally weighted ESG scores on company performance, utilizing a sample of Chinese A-share listed companies spanning the years 2018 to 2022. Our findings reveal that equally weighted ESG scores exhibit a correlation with company performance, and a higher positive percentage difference between a company's rating agency ESG scores and its equally weighted ESG scores is associated with lower performance. This suggests that the rating agency weighting method may inadvertently encourage companies to engage in "greenwashing." This conclusion remains consistent after conducting robustness tests. Heterogeneity analysis further indicates that the negative impact of this difference on company performance is more pronounced among non-state-owned companies, manufacturing companies, and small companies. The mechanism of action test reveals that this difference negatively affects company performance by exacerbating financing constraints and reducing operating efficiency.

PENGARUH KARAKTERISTIK KEUANGAN PERUSAHAAN, STRUKTURAL KEPEMILIKAN, DAN DAMPAK COVID-19 TERHADAP KINERJA PERUSAHAAN DAN NILAI PERUSAHAAN

This study aims to analyze the influence, financial characteristics, structural ownership and covid-19 on company value with company performance as an intervening variable in food and baverage sub-sector companies listed on the Indonesia Stock Exchange for the 2019-2022 period. The population in this study is manufacturing companies engaged in the food and beverage sector. Sampling is done using purposive sampling. This research method uses multiple linear regression. Sobel test in this study was used to analyze indirect influence on work performance as an intervening variable. The results of the study concluded that liquidity, solvency, capital expenditure, and managerial ownership affect company performance, while Covid-19 and institutional ownership do not affect company performance. Company performance affects company value, while Covid-19, liquidity, solvency, capital expenditure, managerial ownership and institutional ownership have no effect on company value. The company's performance cannot mediate covid-19, liquidity, solvency, capital expenditure, managerial ownership and institutional ownership of the company's value in the food and baverage sub-sector companies

PENGARUH STRUKTUR MODAL DAN FAKTOR LAINNYA TERHADAP NILAI PERUSAHAAN NON-KEUANGAN DI INDONESIA

This study aims to analyze how the capital structure, institutional ownership, managerial ownership, profitability, company size, dividend policy, and current ratio influence the firm value. The research used all companies listed on the Indonesia Stock Exchange (IDX) except for the financial sector over a 3-year period, from 2020 to 2022. Purposive sampling was employed as the sampling method, and multiple regression analysis was used for data analysis. There were 65 companies and 195 data that met the research criteria. The research findings indicate that capital structure and profitability have a positive influence on company value. High capital structure and profitability lead investors to perceive that the company has promising prospects in the future thereby increasing firm value. Company size has a negative impact on company value because having substantial but idle assets can adversely affect company performance which results decreasing firm value. However, institutional ownership, managerial ownership, dividend policy, and current ratio do not affect firm value.

Pengaruh Karakteristik CEO terhadap Kinerja Perusahaan pada Perusahaan Sektor Transportasi dan Logistik di Indonesia

This research aims to examine the influence of CEO characteristics on company performance. The study employs a quantitative paradigm by processing secondary data resource. The population consists of transportation and logistics sector companies listed on the Indonesia Stock Exchange from 2018 to 2022. The sample size for this study is 70 companies, selected using purposive sampling and analyst by multiple linear regression analysis. Calculating performance based on Tobin’s Q, the results indicate that CEO Narcissism and CEO Education do not significantly affect Company Performance. CEO Gender has a positive impact on Company Performance, while CEO Tenure has a negative influence on Company Performance.

PENGARUH GENDER, USIA, DAN PENDIDIKAN DIREKTUR UTAMA TERHADAP KINERJA PERUSAHAAN SEKTOR INDUSTRI DI BURSA EFEK INDONESIA

The manufacturing industry plays a central role in the economies of developing countries, including Indonesia. Financial performance significantly impacts the assessment of a company's value. This research aims to analyze and gain a deeper understanding of how the gender, age, and educational level of Chief Executive Officers (CEOs) influence the performance of companies listed in the industrial sector on the Indonesia Stock Exchange (IDX). The characteristics of the study's population include companies in the industrial sector listed on the main board and development board of the IDX, which have published annual reports during the period 2012-2022. The data analysis methods employed involve pooled ordinary least squares and quantile regression. The Hannan-Quinn criteria are utilized to select the best equations for interpretation of the hypothesis testing results. Equations using quantile regression are selected for hypothesis testing. From the hypothesis testing results in this study, it can be concluded that the gender of the CEO has an impact on company performance, while the age and educational level of the CEO do not affect company performance. A negative trend is identified, where male CEOs tend to have a lower impact on company performance compared to their female counterparts in the CEO position.

Corporate Governance and Market Response: Mediating Role of Firm Performance Empirical Evidence from Indonesia

This research aims to investigate the influence of corporate governance on market response (Rit) through company performance (ROI). Corporate governance uses measurements of the intensity of participation of managerial ownership, independent board of commissioners, audit committee and institutional ownership in the process of monitoring the company's managerial processes. Using a quantitative approach with ordinary leasquare analysis techniques and path analysis. Data from 60 manufacturing companies with the observation period 2017 to 2021, totaling N 285 samples. The research results show that corporate governance variables are dominated by managerial ownership in influencing company performance (ROI) and the ROI variable partially mediates the relationship between managerial ownership of the company and stock returns. Meanwhile, independent commissioner ownership, audit committee and institutional ownership do not affect company performance or stock returns. Thus, the governance conditions of manufacturing companies in Indonesia are dominated by managerial ownership compared to the ownership of independent boards of commissioners, institutional ownership and audit committees. In other words, supervision of managerial process governance is only dominated by managerial ownership.

Guardian of Image: Evaluating Corporate Reputation as a Shield Against COVID-19 Fallout on Firm Performance

The COVID-19 pandemic has wreaked havoc on the global economy and posed a significant challenge for companies to survive. This research provides empirical evidence on how the pandemic can adversely affect company performance. Furthermore, the study also unravels how a company's reputation can act as a shield amid the onslaught of the pandemic, thereby moderating the negative relationship between COVID-19 and company performance. The research utilizes 2,847 firm-year observations from non-financial companies listed on the Indonesia Stock Exchange from 2017 to 2022. The analysis employed in this study uses moderated regression analysis (MRA) with STATA software. The results indicate that a company's reputation can moderate, weakening the negative relationship between COVID-19 and company performance. These findings are reinforced by robustness testing using Coarsened Exact Matching (CEM) and alternative performance measurements. This information is highly valuable for companies and stakeholders, indicating that the risks arising from the COVID-19 pandemic can be mitigated by strengthening the company's reputation.

Pengaruh Manajemen Keluarga, Struktur Kepemilikan Keluarga, Struktur Modal dan Invesment Opportunity Set (IOS) Terhadap Kinerja Perusahaan (Studi pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Periode 2017-2022)

A family company or family business is a business in which two or more family members are directly involved to have ownership and become the main control of the business. The study examined the effect of family management, family ownership structure, capital structure and investment opportunity set on company performance. The population of this study is manufacturing companies listed on the Indonesia Stock Exchange from 2017 to 2022 and a sample of 22 companies using purposive sampling techniques. By using multiple linear regression for panel data and using data processing software in the form of Eviews, this study found that family management and family ownership structure did not affect company performance, capital structure had a negative and significant effect on company performance and investment opportunity set had a positive and significant effect on company performance.

Framework Of Information System Of IT Service Desk Using UML (Unified Modelling Language) Technique - Study Case In Republic Of Indonesia State Civil Service Agency

At Republic of Indonesia State Civil Service Agency in carrying out work, it is often found that problems both software and hardware are installed in the computer and must be resolved immediately. However, the handling of problems is still not good, where in the process of reporting complaints and requests, you still have to go by telephone or come directly to the IT staff office to notify complaints, as well as in manual records that affect company performance. All recording reports and problem calculations are still manual. This can have a negative effect, namely: there are problems that are at risk of being recorded repeatedly, so it takes a long time to provide reports to managers. Therefore, the authors submit a helpdesk information system application to solve the problems of complaints and employee requests so that they can be resolved quickly and can be handled properly as well as recording reports that are well recorded. In developing this helpdesk information system, the author uses an object-oriented methodology, namely the iteration waterfall, which is modeled using UML (Unified Modeling Language). The tools used are XAMPP as a web server, PHP as a programming language and MySQL as a database. With this system, it is hoped that it can make it easier for employees to report complaints as well as get solutions to the problems they are complaining about and also make it easier for IT staff to automatically generate reports in the system.

Pengaruh Strategi Diversifikasi dan Modal Intelektual Terhadap Kinerja Perusahaan (Studi Empiris pada Perusahaan Properti dan Real Estate yang Terdaftar di BEI pada Tahun 2019-2021)

This research aims to examine the impact of diversification strategy and intellectual capital on company performance. The data utilized in this study are secondary data derived from the financial reports of companies listed on the Indonesia Stock Exchange for the period of 2019-2021. A sample of 15 companies was selected using purposive sampling method. The analysis method employed in this research is panel data regression, with hypotheses based on previous studies and supporting theories, and analyzed using Eviews 9 software. The research findings indicate that diversification strategy does not significantly affect company performance, while intellectual capital has a positive influence on company performance.

The moderating effect of income diversification on intellectual capital and company performance: Case study of banking in Indonesia

Purpose – This research aims to examine the influence of intellectual capital on company performance, analyze the moderating effect of revenue diversification, and provide additional insight into intellectual capital.Design/methodology/approach – This research uses 38 banks in Indonesia that are listed on the Indonesia Stock Exchange (BEI) out of a total of 47 banks as research samples. The collected data was analyzed using linear regression and moderated regression analyses to test the effect of intellectual capital on company performance and the moderating impact of income diversification on intellectual capital and company performance.Findings – The results of the regression analysis show that intellectual capital (VAIC) has a positive effect on company performance. In contrast, income diversification is having a moderating impact on intellectual capital and company performance. The intellectual capital component has varying influences on company performance. Whereas VACA has a positive effect on company performance, VAHU also has a positive effect on company performance. In contrast, STVA does not affect company performance. Based on the moderation test, income diversification does not moderate the relationship between intellectual capital components and company performance.Research limitations/implications – This research uses the VAIC method to measure intellectual capital using financial report benchmarks. Future researchers should consider using new techniques that are more accurate and comprehensive in measuring intellectual capital. Thus, further research will provide a more precise picture of intellectual capital's influence in improving banking companies' performance.Practical implications – This research shows that banking activities with an intellectual capital orientation tend to improve company performance. So, it is recommended for banking companies to utilize and develop the intellectual capital they have.Originality/value – This research provides an understanding of intellectual capital. This research also contributes to developing economic theory related to intellectual capital and company performance.

Driving Fractions of Business Model Innovation (BMI) among the Micro, Small and Medium Enterprises (MSME)

The purpose of this study is to investigate how changes in business models in Micro, Small, and Medium Enterprises (MSME) affect company performance. This quantitative study tested the connection between business model innovation drivers, innovation results, and MSME performance. 300 of the MSME owner data are recorded by the questionnaire and used this data collection method. The recorded data are evaluated using SEM-PLS. The results showed that the forces driving innovation in business models have a positive impact on their outcomes, so MSME managers gain knowledge about how innovative business models can support MSME to overcome resource limitations and achieve sustainable growth

Are Good Corporate Governance, Corporate Social Responsibility, Firm Size And Profit Quality Affect Firm Performance?

The purpose of this research is to examine the effect of good corporate governance, corporate social responsibility, company size and earnings quality on the performance of companies listed on the Indonesian stock exchange in 2018-2022. This research was conducted at the Investment Gallery of the University of Muhammadiyah Gresik, by examining the annual financial reports of manufacturing companies listed on the Indonesia Stock Exchange. Population 226 companies. This study used a purposive sampling technique in sampling and obtained 9 companies that were selected based on the criteria. Descriptive statistical analysis and multiple linear regression analysis were used to determine the effect of good corporate governance, corporate social responsibility, company size and earnings quality on company performance. in this study also used the classical assumption test, t test and F test, these techniques were processed with SPSS to analyze several hypotheses. The results of this study indicate that good corporate governance partially has a positive and significant effect on company performance. Corporate social responsibility partially does not affect company performance. Firm size partially has a negative effect on firm performance. earnings quality partially does not affect company performance and simultaneously GCG, CSR, company size and earnings quality affect company performance.

Enterprise risk management and supply chain management: The mediating role of competitive advantage and decision making in improving firms performance

The complexity of risk management and supply chain optimization in the business context, especially in financial institutions such as banking, highlights several factors that require special attention. In the banking sector, where risk and operational smoothness are crucial, risk management and supply chain optimization play pivotal roles in maintaining stability and competitiveness. The objective of this research is to explore the extent to which the implementation of ERM (Enterprise Risk Management) and SCM (Supply Chain Management) can create a competitive advantage, influence decision-making, and ultimately impact company performance. The research methodology employed is quantitative. Data collection was conducted through the distribution of Likert-scale questionnaires with a score range from 1 to 5. The sample selection process utilized random sampling techniques, involving managers and staff working in State-Owned Enterprises (SOE/BUMN) in Indonesia. The study analyzed 263 samples, with data collected from February 2023 to June 2023. Structural Equation Modeling (SEM) with SmartPLS software facilitated data analysis. The results indicate that ERM significantly influences competitive advantage and decision-making, but it does not directly impact company performance. Similarly, SCM has a significant positive impact on competitive advantage and decision-making but does not directly affect company performance. Competitive advantage, in this study, did not prove to enhance firm performance or act as a mediator connecting ERM and SCM to company performance. However, decision-making significantly influences company performance and serves as a significant mediator in the relationship between ERM and SCM concerning company performance.

Impact of Supply Chain Integration in Enterprise Resource Planning Systems that Affect Company Performance

PT Sumber Graha Sejahtera, Way Kanan, Lampung often experiences unfulfilled production targets and customer demands. Many customers give complaints because the number of products sent by the company does not match the desired amount. The purpose of this study was to determine the direct effect of the ERP system on company performance, and the indirect effect of the ERP system on company performance mediated by supplier integration, internal integration, and customer integration. This research uses quantitative methods. The population in this study were all employees at PT Sumber Graha Sejahtera, Way Kanan, Lampung, totaling 340 people. The sample size was calculated using the Yamane and Isaac formula which resulted in 184 employees. Samples were taken using purposive sampling technique. The data analysis technique used is Structural Equation Modeling (SEM)-Partial Least Square (PLS). The results of the study show that ERP has a direct, significant effect on firm performance. In addition, ERP has no significant effect on firm performance through supplier integration, internal integration and customer integration. PT Sumber Graha Sejahtera must improve the management of management resources well, increase performance improvement, and build business innovation, so that corporate decision making can be effective for all related parties. With the implementation of good resource planning, the company will no longer receive complaints from customers.

The Effect of Good Corporate Governance and Free Cash Flow on Company Performance

Manufacturing companies should have free cash flow (FCF) available where the remaining cash owned by the Company as a reserve fund when the Company is in an urgent situation can be used. With the FCF, the Company does not need to worry about dividend distribution to investors. The smooth distribution of the Company is a sign that the Company's performance is in good condition. This study aims to analyze the effect of good corporate governance and free cash flow on company performance. This research uses quantitative methods. This study uses the object of basic material companies listed on the IDX in 2018-2021. The source of the financial statement data used comes from the website of each company or idx.co.id. The population is essential material companies listed on the Indonesia Stock Exchange (IDX). Sampling technique with purposive sampling. The number of samples is 43 companies. This research analysis method uses computer assistance through the SPSS program. The results of this study show that the Board of Directors has a positive and insignificant effect on Company Performance. The Board of Commissioners has a positive and little impact on Company Performance. The Audit Committee does not affect Company Performance. Free Cash Flow has a positive and insignificant effect on Company Performance. The Board of Directors, Board of Commissioners, and Audit Committee variables have a positive and little effect on Company performance, while the Audit Committee has no effect on performance.

THE COMPANY SIZE AND THE GROWTH SALES THE EFFECT ON THE COAL COMPANY'S PERFORMANCE ON THE INDONESIAN STOCK EXCHANGE

This research aims to determine the effect of company size and sales growth on performance. Company size is a reflection of management's success in increasing company assets. Sales growth illustrates the company's success in expanding the marketing of its products. Company performance reflects its success in managing its finances well, proxied by Return On Assets (ROA). The analysis used in this research is panel data regression using secondary data taken from the Indonesia Stock Exchange (BEI) website. The companies studied are coal sub-sector companies listed on the IDX during 2020-2022. This research is essential now when coal is experiencing a surge in demand after previously experiencing its lowest phase. Therefore, coal companies must be able to prepare their company performance well to maintain the sustainability of their company. The research results show that company size has an effect, while sales growth does not affect company performance. The coefficient of determination in this study was 68%, which shows the level of goodness of the model in explaining company performance. This research answers the challenges of fluctuations in the coal mining industry that may occur in the future and is a solution to the uncertainty of coal demand and supply in the world. Therefore, coal companies must be able to prepare their company performance well to maintain the sustainability of their company. The research results show that company size has an effect, while sales growth does not affect company performance. The coefficient of determination in this study was 68%, which shows the level of goodness of the model in explaining company performance. This research answers the challenges of fluctuations in the coal mining industry that may occur in the future and is a solution to the uncertainty of coal demand and supply in the world. Therefore, coal companies must be able to prepare their company performance well to maintain the sustainability of their company. The research results show that company size has an effect, while sales growth does not affect company performance. The coefficient of determination in this study was 68%, which shows the level of goodness of the model in explaining company performance. This research answers the challenges of fluctuations in the coal mining industry that may occur in the future and is a solution to the uncertainty of coal demand and supply in the world. The coefficient of determination in this study was 68%, which shows the level of goodness of the model in explaining company performance. This research answers the challenges of fluctuations in the coal mining industry that may occur in the future and is a solution to the uncertainty of coal demand and supply in the world. The coefficient of determination in this study was 68%, which shows the level of goodness of the model in explaining company performance. This research answers the challenges of fluctuations in the coal mining industry that may occur in the future and is a solution to the uncertainty of coal demand and supply in the world

How Shifts in Economic Policy Affect Infrastructure Firm Performance ?

This quantitative research was conducted on companies in the infrastructure sector in Indonesia, Singapore, the Philippines, and Vietnam to see a comparison of economic policies in influencing company performance, the progress of the infrastructure sector, and good implementation in each country. The company performance measurement variables used are ROE and ROA. This research was conducted in a prescriptive way by collecting secondary data from official stock exchange sites, namely the Indonesia Stock Exchange (IDX), Singapore Exchange Limited (SGX), Philippine Stock Exchange (PSE), and Hanoi Stock Exchange (HNX). To find out the relationship between variables, analysis, and data processing in this study we used the Vector Autoregressive (VAR) method. The results of this study are that the economic policies implemented by each country have different impacts according to the economic conditions in the country so they have different impacts on the implementation of monetary and fiscal policies. In Indonesia and the Philippines, the impact of interest rate monetary policy can significantly affect company performance (positive effect), while in Vietnam and Singapore, it is not proven to have a significant effect. In Indonesia and the Philippines, the impact of fiscal policy shows that the performance of companies in the infrastructure sector appears to be positively influenced by the State Budget and IR, but in Vietnam and Singapore, it does not appear to be positively affected.

Peran GCG dalam Memoderasi Hubungan Modal Intelektual, CSR, dan Kinerja Perusahaan

The occurrence of economic integration and technological progress has caused globalization to make business competitiveness increasingly tight. The level of business competition depends on investment from investors who are able to influence increased company performance. The research was conducted to examine the influence of intellectual capital and CSR on company performance and analyze the impact moderated by GCG. Sample selection was carried out using a purposive sampling technique resulting in 33 companies with a data period of 4 years, totaling 129 data. Data testing was carried out using multiple linear analysis. The research results show that intellectual capital, CSR, and GCG do not affect company performance. GCG is able to strengthen the relationship between intellectual capital and company performance and strengthen the relationship between CSR and company performance.
 Keywords: Intellectual Capital; CSR; GCG; Company Performance

Political directors and company performance: An empirical investigation of industry‐level and country‐level moderating effects

AbstractThe existing empirical evidence on the political directors' impact on company performance is mixed and inconclusive, suggesting that this relationship is more complex than initially hypothesised and requires further investigation. This study enhances our knowledge by exploring both political directors' direct effects and the role of moderating contextual variables. Precisely, building on resource dependence and contingency theory, we argue that political directors can positively affect company performance and that this relationship may be moderated by industry regulation and national financial systems. We tested our hypotheses using a longitudinal sample of large European listed companies. Our results highlight that political directors have a detrimental effect on firm performance, while industry regulation and credit‐based financial systems positively moderate this baseline relationship. As such, our findings expand the use of resource dependence theory and provide a more contextual understanding of the impact of political directors on firm performance.