Financial Growth Research Articles

Evaluating The Impact of ESG Integration on The Financial Performance of Pertamina Geothermal Energy: A Sustainable Growth Perspective

The global energy landscape is undergoing a significant transformation driven by the urgent need to mitigate climate change, increased regulatory pressures, and rising stakeholder expectations. This study aims to explore the impact of ESG integration on the financial performance of Pertamina Geothermal Energy (PGE), a subsidiary of PT Pertamina (Persero), which plays an important role in the energy transition in Indonesia. This study uses secondary data from financial statements, prospectuses, annual reports, and information from the PGE website. In addition, historical data on the stock prices of power generation companies and comparative analysis of the industry are used. The analysis was carried out using the Discounted Cash Flow (DCF) method to calculate the intrinsic value of the company, as well as an assessment of sustainability policies, community engagement programs, and improvement of corporate governance. The results show that ESG integration has a positive impact on PGE's sales growth, profitability, and return on investment. Improved sustainability policies, community engagement programs, and corporate governance contribute significantly to better financial performance. The integration of ESG principles in PGE not only improves financial performance but also shows that sustainability and profitability can go hand in hand. These findings provide valuable insights for the broader energy sector, suggesting that ESG integration can drive positive change and facilitate an era where financial growth and environmental responsibility complement each other.

Digital Finance, Research and Development Investment, and Corporate Green Technology Innovation

The development of digital finance is anticipated to alleviate the dilemma of corporate green technology innovation. This study selects manufacturing enterprises that are publicly listed on the Shanghai and Shenzhen stock exchanges as well as the Growth Enterprise Market in China, as research samples, of which the data spans from 2011 to 2020. An empirical research using a matched dataset of this period demonstrates that the growth of digital finance has a significantly positive impact on the promotion of green technology innovation in Chinese manufacturing companies. This result remains valid even after conducting rigorous testing to ensure its reliability and taking into account the potential influence of endogeneity. Moreover, this promoting effect exhibits heterogeneity due to differences in enterprise size and property rights. In the future, governments, financial institutions, and enterprises should collaborate to promote the improvement of digital finance infrastructure, bolster policies and financial support for enterprise green technology research and development (R&D) investment, and effectively foster the improvement of corporate green technology innovation capabilities.

Dividend Announcements and Share Price Dynamics: Unraveling the Connection

This research paper delves into the dynamic landscape of dividend decisions in 2023, exploring the intricate interplay between market price of select equity shares and dividend announcements. In the ever-evolving global economy, firms face multifaceted challenges and opportunities that shape their dividend policies. Employing a comprehensive analysis of recent data, this study investigates the influence of dividend decisions and their implications on shareholder value. Through meticulous examination of dividend patterns across various industries, this research uncovers novel insights into the shifting paradigms of dividend distribution. The paper strives to establish a connection between market price in taking dividend decisions, shedding light on the delicate balance companies must strike between rewarding shareholders and ensuring sustainable financial growth. Incorporating recent data, this paper contributes to the academic discourse on corporate finance and also offers practical implications for businesses navigating the complex terrain of dividend decisions.

Do Dividend Announcement Impact Share Price?

This research delves into the intricate landscape of dividend decisions in 2023, exploring how declaration of dividends impact share price. In today's dynamic global economy, companies encounter multifaceted challenges and opportunities that influence their dividend policies. Using recent data analysis, this study investigates the dividend decisions and their effects on both firm performance and shareholder value. By meticulously examining dividend patterns across various industries, this research uncovers fresh insights into the evolving strategies of dividend distribution. Additionally, the paper analyzes how investor sentiment and market volatility influence dividend policies, emphasizes the delicate balance companies must strike between rewarding shareholders and ensuring sustainable financial growth. Using quantitative data, this research offers a nuanced understanding of the contemporary factors guiding dividend choices, presenting valuable insights for corporate leaders, investors, and policymakers. Through the incorporation of recent data and subsequent analyses this paper contributes not only to the academic discourse on corporate finance but also provides practical implications for businesses navigating the intricate terrain of dividend decisions in 2023.

Retraction Note: Unlocking the role of energy poverty and its impacts on financial growth of household: is there any economic concern.

Retraction Note: Unlocking the role of energy poverty and its impacts on financial growth of household: is there any economic concern.

Reforming Sustainability-Linked Bonds by Strengthening Investor Trust

This paper explores the emergence of sustainability-linked bonds (SLBs) as an innovative instrument to finance sustainability objectives. SLBs are any type of bond instrument for which the financial characteristics vary depending on whether the issuer achieves predefined sustainability objectives. SLBs were launched in 2019, represent 7% of labeled bonds, and now exceed USD 250 billion. In the context of the growth of sustainable finance and concerns of greenwashing, this paper asks whether SLBs are an effective mechanism to attract sustainable finance. Drawing on a complete revision of the literature and interviews with practitioners, the findings highlight the potential of SLBs to contribute to sustainability financing, especially in hard-to-abate sectors. Recommendations include defining standardized KPIs based on a materiality assessment, requesting SPTs to be supported by science, and tailored step-up mechanisms. The academic literature and experts converge in their description of greenwashing risks posed by SLBs, their signaling effect, and the lack of sophistication in SLB pricing, in particular the optionality represented by step-ups. The literature differs from the practitioners’ perception on the existence of an issuance premium. Enhancing the design of SLBs represents an opportunity to add rigor to sustainable finance and better price externalities, where material topics have an explicit impact on the cost of funding.

Trading strategies and Financial Performances: A simulation approach

This paper presents a comparative analysis of three major approaches to portfolio strategies: the maximization of the Sharpe ratio, the minimization of the Expected Shortfall and “zero–intelligence” trading. Data from financial time series and from a simulated order-book are used to analyse how various strategies affect investors’ portfolio performance and volatility. Results show, firstly, that the superiority of technical and analytical approaches over a random strategy is not obvious. Secondly, that strategies with lower and less risky profits may reveal preferable to those with higher returns and risk. Balancing this trade-off is crucial for stable financial growth.

Optimizing the quality of casual relationships among primary energy consumption, financial growth, and trade openness: A panel data analysis of G-20 Nations

Optimizing the quality of casual relationships among primary energy consumption, financial growth, and trade openness: A panel data analysis of G-20 Nations

Comparing developed and emerging nations' Economic development with environmental footprint for low-carbon competitiveness

This study delves into the intricate relationship between economic growth and its ecological repercussions, employing a comprehensive assessment of ecological footprint across 131 nations. The time period considered for the research spans from 2009 to 2019. Utilizing the CS-ARDL methodology, the results indicate a correlation between reducing ecological footprint and bolstering private sector domestic credit. Additionally, a relationship between diminishing private sector domestic credit of banks and augmenting private sector domestic credit within the financial sector has been identified. In conjunction with other indicators of financial advancement, the significance of domestic lending to the private sector has been underscored. The study reveals a notable reduction in human population's adverse impact on the environment. However, increased levels of energy consumption, foreign direct investment and per capita GDP are associated with an improvement in global quality of life. Particularly noteworthy is the validation of the "pollution haven hypothesis" in the global economic context. The implications of this research are substantial; suggesting that global economic dynamics may support efforts towards environmental conservation. However, outcomes may vary across regions or countries, particularly regarding the emphasis placed by the financial sector on environmental preservation. This study comprehensively examines the complex nexus between economic progress and its ecological consequences, keeping in consideration factors such as financial growth, urbanization, energy consumption and Foreign Direct Investment (FDI).

9NFTMANIA: Catalyzing Innovation and Community in NFT Culture and the Metaverse

9NFTMANIA is a pivotal platform in the enhancement of NFT culture, providing a comprehensive ecosystem for artists and collectors. It promotes digital art through global exposure and community engagement, offering virtual galleries, auctions, and educational resources. The platform supports financial growth for artists by facilitating direct sales and enabling royalties from secondary transactions. Additionally, 9NFTMANIA integrates NFTs into broader digital economies, including gaming and virtual real estate, contributing to their wider acceptance and utility. Through these initiatives, 9NFTMANIA fosters a vibrant, accessible, and profitable NFT culture, significantly advancing the digital art landscape.

From intention to action: Understanding bank credit access through the lens of the theory of planned behavior

Research background: Bank credit access plays a determining role in enterprises’ financial growth, competitiveness, and internationalization. However, most entrepreneurs are afraid of being rejected from their credit applications due to financial disadvantages that reduce their probability of receiving credits. To minimize credit access concerns, their entrepreneurial behaviors that are included in the Theory of Planned Behavior (TPB), such as personal attitude (PA), perceived behavioral control (PBC), and subjective norm (SN), might be a good solution. However, depending on cultural differences, their attitudes regarding these factors might change, which also causes changes in firms’ probability of receiving credit. Purpose of the article: This research aims to examine whether the impact of PA, PBC, and SN on credit access of enterprises differ depending on the countries where they do their business. Methods: The researchers investigate 1367 enterprises from different countries. These firms are selected using a purposive sampling method, and then an online questionnaire is sent to the survey respondents. Binary Logistic Regression analyses are performed for analysis purposes. Findings & value added: The results indicate that while the impact of PA on bank credit access does not differ depending on the countries where firms are located, international differences exist in the impacts of PBC and SN on the credit access of enterprises. This paper finds international differences in the impact of RBV’s intangible assets (PA, PBC, SN) on a tangible asset of RBV (financial capability) and explains these results with the factors (economic, political, legal systems) included in Institution-based View, and brings all components of both theories RBV and Institution-based View in a unique research. Financial and educational support from governments and universities for fresh graduate individuals can stimulate entrepreneurial attitudes and financing abilities of prospective entrepreneurs to overcome credit access obstacles.

Status and SWOT Analysis of the Internalization of Operations of S Electronics Company, Ltd.

S Electronics Company Ltd. demonstrated a well-defined management structure, agile organizational design, and a commitment to superior customer service, forming the foundation for its global expansion in markets like Vietnam, Thailand, and India. The company's diversified product portfolio, including cutting-edge connectors, strategically positioned it, supported by robust technological development and financial stability. A SWOT analysis highlighted its competitive edge while emphasizing the need to address weaknesses for successful internationalization. Opportunities for market expansion, technological advancements, and financial growth were identified, alongside threats in the global business landscape. Strategic planning leveraged SWOT analysis to enhance strengths, mitigate weaknesses, capitalize on opportunities, and counteract threats. Opportunities offered pathways for market expansion, technological prowess, and overall competitiveness. Threats related to trade policies, exchange rates, intellectual property, cultural disparities, and legal systems underscored international business complexities. Adherence to trade, intellectual property, tax, anti-monopoly, and labor regulations formed a strategic shield against risks, contributing to sustained growth. Prioritizing cultural intelligence ensured effective operations in diverse contexts and maximized global workforce productivity.

Creating shared values as a new paradigm of Corporate Social Responsibility

Background: Bank Sumsel Babel is faced with demands to focus on not only financial growth but also the positive impact on social and environmental fronts. The evolution of Corporate Social Responsibility (CSR) to Creating Shared Value (CSV) reflects a paradigm shift. As a regional development bank, Bank Sumsel Babel faces the demand to adopt CSV as an integral part of its CSR strategy to create a positive impact on society and the environment in the South Sumatra and Bangka Belitung regions. Purpose: This research explored the company’s strategy in implementing the Creating Shared Value (CSV) program as a new paradigm of CSR at Bank Sumsel Babel and analyzed the program publication to improve its reputation. Methods: This research used a descriptive qualitative research method to see the implementation of CSV at Bank Sumsel Babel. The researchers obtained data through interviews, observations, and document analysis. Results: Bank Sumsel Babel has successfully integrated the CSV approach into its CSR activities, particularly through the Bina Mitra program. This program has helped the bank address social issues such as education and community development and enhanced its business performance by building trust and loyalty among stakeholders. Conclusion: Companies can implement CSV-based CSR in some areas, while in other areas, they can use more traditional approaches, such as philanthropy or donations, to achieve a positive social impact. Implications: Bank Sumsel Babel can improve business performance and bring a positive impact on society through Creating Shared Value (CSV) programs as part of its CSR strategy.

ROLE OF WOMEN EMPLOYEES TOWARDS INVESTOR ANALYSIS IN THE POST-PANDEMIC ERA

The post-pandemic era has prompted significant changes in the global workforce, with a notable impact on women employees. This paper examined the role of women employees in shaping investor analysis, focusing on how gender diversity influences corporate performance, investment decisions, and long-term value creation. Women employees, particularly in leadership roles, contribute to organizational resilience, innovation, and sustainability. By assessing the role of women in the workforce and their influence on investor sentiment, this study highlights the interconnectedness between corporate diversity and financial growth in the post-pandemic context. The main objectives are to understand the role of gender diversity in corporate performance, governance, and long-term value creation. The selection of a research strategy is a crucial step in the research design process, as it dictates how relevant data for the study will be collected. The study utilized both primary and secondary data sources. Primary data was obtained through a questionnaire distributed via Google Forms, completed by a group of respondents. In addition, to build the theoretical and analytical framework, secondary data was sourced from various books, published materials, newspapers, journals, and websites. A sample size of 100 women was selected from an unlimited population. The researcher employed a random sampling method to choose the participants.

International Trade and Environmental Degradation: A Developing World Perspective

We investigate the multifaceted links between sectoral imports and exports, financial growth, energy consumption, GDP, and their ability to affect pollution emissions across 113 developing countries from 1990 to 2020. Using a large dataset, we used both fixed and random effects models to explore the various processes underlying this relationship. A major finding highlights the significant effect that sectoral imports have on the increasing trend of CO2 emissions, shedding light on the individual industries and sectors’ imports responsible for the degradation of the environment. Our study efficiently accommodates country-specific differences and temporal fluctuations by utilizing both country and time-fixed effects as well as random effects models, resulting in a robust and detailed investigation of the relationship. This study provides critical insights into the continuing discussions about sustainable development in poor countries, emphasizing the importance of focused policy actions aimed at decoupling economic growth from environmental impact.

Local Government Financial Performance Reviewed from Financial Ratios and Indexes

This research aims to analyze the financial performance of the Ambon City regional government in terms of financial ratios in implementing regional autonomy. This research is a descriptive qualitative research type. Using documentation study data collection techniques or by tracing which is done by collecting secondary data, namely regional government financial report data for 2012 - 2015 from related agencies. The data analysis technique used is the descriptive analysis technique to assess financial performance, namely the regional independence ratio, effectiveness ratio, regional financial activity/harmony ratio and regional financial growth ratio, assessing financial capability using the degree of fiscal autonomy ratio and routine capability index. The research results found that the Regional Financial Independence Ratio (RKKD) of Ambon City during the three year observation period from 2013 to 2015 was on a scale of 0% - 25%, which means it was classified as "poor". Regional Financial Activity/Harmony Ratio (RAKD) for Direct Expenditures (BL) and Indirect Expenditures (BTL) in Ambon City, where during the observation period Indirect Expenditures (BTL) had a large portion compared to Direct Expenditures. The amount of indirect expenditure has reached more than 65%, which means that the Ambon City Government spends more on personnel expenditure than on public services. Growth ratio, it is known that of the four elements of the APBD, namely PAD, TPD, Indirect Expenditure and Direct Expenditure, the Ambon City government was only able to maintain good PAD growth during the observation period from 2013 to 2015, the rest of the growth rate still needs to be improved. The DOF ratio of Ambon City during the three year observation period from 2013 to 2015 was "very poor", below 10%, and that means that the Ambon City Government has very poor ability to finance government activities. The Routine Capacity Index (IKR) for the three year observation period from 2013 to 2015 shows that the ability of the Ambon City government to spend routine expenditures with local original income is still "deficient", namely less than 20% or in other words more than 80% of the City's routine expenditures. Ambon is covered by funds from the center.

Financing Social Enterprises Serving Base-of-the-Pyramid Markets: Towards an Integrative Financing Model

Social enterprises grapple with accessing external funds, a predicament linked to organisational failures. Anchored in resource dependence theory and financial growth cycle theory, this qualitative investigation employs multiple case studies, using primary and secondary data sources to examine how social enterprises serving base-of-the-pyramid markets can blend diverse sources to address financing pitfalls. The findings underscore the significance of not only external financing but also internal capability enhancement. The study consequently introduces an integrative financing model and proposes amalgamating of three major theories as enablers for social enterprises to synergize the acquisition of external financing with growth phases and internal capabilities.

The spatial spillover effect of financial growth on high-quality development: Evidence from Yellow River Basin in China

River basin cities are areas with remarkable conflicts between the human activity and the ecological environment. They are also important targets for policy implementation of sustainable and high-quality development (HD) in various countries around the world. This article exploits the panel data of 99 cities located in the Yellow River Basin (YRB) from 2006 to 2019 to empirically analyze the spatial effect of financial growth on HD. Spatial weights participated econometric models are utilized to analyze this spatial effect. Empirical results reveal that: (1) the HD in the YRB shows a strong positive spatial autocorrelation. (2) Financial growth exerts an N-shaped curve effect on the HD from a long-term perspective. When this influence spills out to the surroundings, it exhibits an inverted U-shaped characteristic. (3) Green innovation can be an important intermediary factor in the influence of financial growth on HD. (4) The influence of financial growth on HD appears stronger in regions with higher economic levels, where N-shaped effects can be transmitted to the surrounding regions. However, the backward economic development in low-economy regions prevents the spatial spillover of N-shaped effects. This study can be instrumental for countries to formulate financial policies that aim to promote HD in river basin cities.

Strategic financial decision-making in sustainable energy investments: Leveraging big data for maximum impact

In the context of escalating environmental concerns and the transition towards a greener economy, sustainable energy investments have emerged as a pivotal area for financial growth and innovation. This paper outlines a strategic framework for financial decision-making in sustainable energy investments, emphasizing the transformative role of big data. By integrating big data analytics into the investment process, stakeholders can enhance market analysis, risk assessment, performance monitoring, and predictive modeling, leading to more informed and effective investment strategies. The paper delves into various big data sources, analytical tools, and technologies that facilitate the collection, processing, and interpretation of vast amounts of information. Additionally, it presents case studies illustrating successful applications of big data in solar and wind energy projects, highlighting best practices and common challenges. The discussion extends to future trends, including advancements in artificial intelligence and machine learning, which are poised to further revolutionize the sector. The paper concludes with strategic recommendations for developing a data-driven investment approach, building robust data infrastructures, and fostering a culture of continuous learning and adaptation. By leveraging big data, investors can maximize the impact of their investments, drive sustainable growth, and contribute to the global energy transition. Keywords: Sustainable Energy Investments, Big Data Analytics, Strategic Financial Decision-Making, Market Analysis, Risk Assessment, Predictive Modeling.

Exploring the impact of religious diversity on market performance and financial growth in developed economies

This paper investigates the relationship between religious diversity and financial market efficiency through an empirical analysis spanning multiple (50) countries and time periods. Utilizing a comprehensive dataset compiled from various sources, including religious demographics and financial market indicators, we employ advanced econometric techniques to examine the impact of religious diversity on market efficiency. Our findings suggest a nuanced relationship between religious diversity and financial market dynamics, with significant implications for investors, policymakers, and societal stakeholders. The analysis reveals that regions characterized by higher religious diversity tend to exhibit lower levels of market efficiency, as measured by volatility, liquidity, and price informativeness. Furthermore, our results indicate that religious diversity and market efficiency vary across religious denominations and geographical regions. Our research's implications extend beyond finance, offering insights into the broader societal implications of religious diversity and its impact on economic outcomes.