High Profile Companies Research Articles

Accounting for biodiversity and extinction: virtue rhetoric to change the world for the better

PurposeThis paper aims to explore the biodiversity and threatened species extinction reporting of 54 biodiversity-indexed companies on the Indonesia Stock Exchange (IDX). The primary objectives are to explore the rhetoric of biodiversity disclosure as a practice of virtue ethics and to identify instances of emancipatory extinction accounts on the International Union for Conservation of Nature (IUCN) Red List.Design/methodology/approachThe research sample comprised 54 biodiversity-indexed companies on the IDX. A content analysis of the narrative text of their annual and sustainability reports for 2020 was conducted to discern the rhetoric of biodiversity disclosure as an ethical practice using Aristotle’s rhetoric (ethos, logos and pathos). The identification of extinction accounts listed on the IUCN Red List was conducted based on criteria established in the conceptual framework of Atkins and Maroun (2018).FindingsAll 54 companies used ethos, logos and pathos in their biodiversity disclosure as a virtuous practice. These disclosures improve the tone of corporate communications and enhance accountability and transparency. Low-profile companies showed a greater propensity for reporting biodiversity disclosures compared to high-profile companies. Additionally, the authors identified 14 companies informing extinction accounts that qualify as emancipatory accounts, with high-profile companies disclosing extinction more frequently than low-profile ones. Emancipatory accounting highlighted species such as turtles, orangutans, elephants, rhinos, turtles and medicinal plants. These accounts are intended as a form of accountability to the species.Research limitations/implicationsThe limitation of this research is the observation of annual reports in one period. Future studies can add more observation periods to see the consistency of companies in disclosing biodiversity and extinction.Practical implicationsCompanies can adopt the rhetorical strategy of ethos, logos and pathos in disclosing their biodiversity. For policymakers, it is important to establish regulations to encourage companies to disclose biodiversity. The implications for accountants, to contribute more to biodiversity and extinction reporting, considering that previously sustainability accounting reporting was mostly carried out by nonaccountants.Social implicationsRegarding social implications, emancipatory accounts aimed at preventing the extinction of animals such as birds, orangutans and rhinos will have significant social and natural impacts.Originality/valueThis research represents the first use of Aristotelian rhetoric and virtue to understand biodiversity disclosure as virtue rhetoric and extinction disclosure as emancipatory accounting. This rhetoric is a benevolent persuasion tool that can shape the audience’s thinking and behavior in a more ethical manner concerning biodiversity issues. It provides evidence of the role of accounting as a social and moral practice, which is particularly relevant in the face of a complex reality and increasing concerns, notably regarding the threat of biodiversity loss and extinction.

PENGARUH INTANGIBLE ASSET, FINANCIAL FLEXIBILITY, GREEN INNOVATION, DAN HUMAN CAPITAL TERHADAP SUSTAINABLE GROWTH PERUSAHAAN HIGH PROFILE YANG TERDAFTAR DI BEI

This research aims to examine the influence of intangible assets, financial flexibility, green innovation, and human capital on sustainable growth of companies, with firm size and return on assets (ROA) as control variables. The study uses a sample of 136 high-profile companies from the period of 2018 to 2021, with total of 544 observations. Through descriptive statistical tests, panel data model testing, hypothesis testing, and multiple linear regression analysis, the findings of this study indicate that intangible assets and financial flexibility have a positive effect on sustainable growth. However, green innovation and human capital have a negative impact on sustainable growth of companies. These results suggest that valuable intangible assets and good financial flexibility contribute to enhancing sustainable growth, whereas high levels of green innovation and human capital may not always have a positive impact on sustainable growth. Further research is recommended to understand the reasons why green innovation and human capital have a negative influence on the sustainable growth of companies.

Effect of Top Management Team Characteristics and Green Innovation on Firm Performance in Indonesia: Role of Carbon Emission Disclosure

The purpose of this study is to investigate whether top management team (TMT) characteristics and green innovation (GI) affect firm performance, and if so, whether the effect is mediated by carbon emission disclosure (CED). This quantitative study employs the partial least square structural equation modeling (PLS-SEM) to test the hypotheses. The data were collected from the high-profile companies listed in the Indonesia Stock Exchange (IDX) for the 2015 - 2019 period. A mediating research framework was developed to explain the association among constructs. Using agency theory and sustainability theory (triple bottom line), the results show the following findings. First, TMT characteristics positively affect firm performance. Second, GI positively affects on firm performance. Third, CED partially mediates the effect of TMT characteristics on firm performance. Fourth, CED partially mediates the effect of GI on firm performance. The current study addresses the existing research gaps and debates in the previous studies in term of proposing a more comprehensive framework by adding CED as a mediating variable. This study also builds a new dataset and focuses on environmental issues in the Indonesian research setting as an emerging country and a two-tier governance system adopter.

Enforcing economic sanctions by tarnishing corporate reputations

AbstractWhat strategies work best for enforcing sanctions? Sanctions enforcement agencies like the US Office of Foreign Assets Control (OFAC) face resource limitations and political constraints in punishing domestic firms for violating sanctions. Beyond monetary fines, sanctions enforcement actions also serve a “naming and shaming” function that tarnishes violators’ reputations. Larger, higher-profile companies tend have much more at stake in terms of their reputations than smaller or less well-known firms. At the same time, punishing higher-profile companies for sanctions violations is likely to generate more publicity about the risks and potential consequences of not complying with sanctions. We theorize that OFAC should impose larger fines on high-profile companies to draw attention to those cases, make the enforcement actions more memorable, and enhance the reputational costs that they inflict. We conduct a statistical analysis of OFAC enforcement actions from 2010 to 2021 and find support for our theory.

The Effect of Green Innovation, Green Organizational Culture, Eco-Efficiency and Collaboration on Competitive Advantage

Currently, the increase and competition of industrial development cause natural resource depletion. It is worsened by the pollution that comes from the production process of manufacturing companies with high-profile status. This study aims to analyze the effect of Green Innovation, Green Organizational Culture, Eco-Efficiency, and Collaboration on Competitive Advantage. This study employed a quantitative approach and used secondary data. Causal research was used to establish a relationship between the variables studied and the results of the research questions. Companies listed on the Indonesia Stock Exchange with high profile status in the Consumer Cyclical, Consumer Non-Cyclical, Basic Materials, Industrials, and Healthcare sectors from 2019-2021, were used as samples and taken by purposive sampling. A total of 67 companies participated, with a total of 201 research samples that lasted for three years. This study used descriptive statistical methods, panel data regression selection tests, and hypothesis testing using Eviews 12 software. The results of the model estimation test show that the selected model, namely the Random Effect Model (REM), is the regression analysis method. This study shows that partially the independent variables Green Innovation and Eco-Efficiency as well as the control variables Firm Size and Financial Performance (ROA) have a positive and significant effect on the Competitive Advantage of High-Profile Companies from 2019 to 2021. Meanwhile, the Green Organizational Culture and Collaboration variables do not affect the Competitive Advantage of High-Profile Companies from 2019 to 2021.

FINANCIAL PERFORMANCE AND CORPORATE VALUE WITH GOOD CORPORATE GOVERNANCE AS A MODERATION OF HIGH AND LOW PROFILE COMPANIES

This study aims to analyze how much influence Enterprise Risk Management, Intellectual Capital, and Sustainability Report have on Company Financial Performance and Their Impact on Company Value with Good Corporate Governance as moderator in High Profile and Low Profile Companies listed on the Indonesia Stock Exchange. The population of this study is 80 High Profile and Low Profile companies listed on the Indonesia Stock Exchange for the 2018-2020 period. Determination of the sample was carried out using purposive sampling and obtained 20 companies as samples in this study for 3 years so that a total sample of 60 companies. The data analysis technique used is Stata software. The results of this study indicate that the company's financial performance has an effect on firm value, meanwhile, enterprise risk management, intellectual capital and sustainability reports have no effect on firm value. Enterprise risk management, intellectual capital, and sustainability reports have no effect on the company's financial performance. Good corporate governance is able to moderate the effect of enterprise risk management on firm value

Narratives in Subjective Performance Evaluations: Do Ratings Change the Narrative?

ABSTRACT Several high-profile companies have removed numerical subjective performance ratings from their performance-management processes in favor of only using narrative evaluations. Using an experiment, I examine whether requiring supervisors to provide a numerical subjective performance rating in addition to a narrative evaluation moderates the effects of supervisors’ directional evaluation incentives (i.e., reasons to evaluate an employee more or less favorably) on the favorability of their narrative evaluations. As predicted, I find the favorability of supervisors’ narrative evaluations reflects their directional evaluation incentives, but to a lesser degree when they also provide a numerical performance rating. Theory suggests the moderating effects of providing a numerical rating occur because (1) numerical ratings are biased toward the middle of the scale, and (2) supervisors strive for “consistency” between their numerical ratings and narrative evaluations. I demonstrate that the rating process affects narratives, and removing subjective numerical ratings may have unintended consequences in practice.

Development of a Heavy-Duty Electric Vehicle Integration and Implementation (HEVII) Tool

<div class="section abstract"><div class="htmlview paragraph">As demand for consumer electric vehicles (EVs) has drastically increased in recent years, manufacturers have been working to bring heavy-duty EVs to market to compete with Class 6-8 diesel-powered trucks. Many high-profile companies have committed to begin electrifying their fleet operations, but have yet to implement EVs at scale due to their limited range, long charging times, sparse charging infrastructure, and lack of data from in-use operation. Thus far, EVs have been disproportionately implemented by larger fleets with more resources. To aid fleet operators, it is imperative to develop tools to evaluate the electrification potential of heavy-duty fleets. However, commercially available tools, designed mostly for light-duty vehicles, are inadequate for making electrification recommendations tailored to a fleet of heavy-duty vehicles. The main challenge is that light-duty tools do not estimate real-time vehicle mass, a factor that has a disproportionate impact on the energy consumption of large commercial vehicles. The Heavy-Duty Electric Vehicle Integration and Implementation (HEVII) tool advances the state of the art in evaluating electrification potential and infrastructure requirements for fleets of commercial vehicles. In this work, the HEVII tool is demonstrated with non-uniformly sampled telematics data from an existing fleet to assess the suitability for electrification of each individual vehicle, determine optimal locations for charging infrastructure to support a fleet of EVs and analyze associated costs. Payload mass is predicted using sparse ground-truth data for all input drive cycles and an initial data analysis is conducted to assess the characteristics driving behaviors and energy consumption of the fleet using an adaptable vehicle model. Battery size requirements are determined by applying a novel charger placement algorithm to maximize routes that are viable for EVs and balance time delays with infrastructure development costs. This work details and demonstrates the different aspects of the HEVII tool, presenting preliminary results from an example use case.</div></div>

Stock Price, Return, and Abnormal Return Differences Before and After Stock Split In High and Low Profile Companies Listed On The Indonesian Stock Exchange

The purpose of this study is to see if there are differences in stock prices, stock returns, and abnormal returns before and after a stock split in high-profile and low-profile companies. This study's research period was 2020-2022. The research was analyzed quantitatively using a purposive sampling method. Based on the sampling criteria, 39 companies were selected as research samples. Kolmogorov Smirnov The normality test was performed using a single sample test. Following the normality test, the data was processed using the two-paired-sample difference test. If the data were normally distributed, the t-test (paired sample t-test) was used; otherwise, the Wilcoxon Signed Rank test was used. The results of hypothesis testing revealed that (1) there are differences in stock prices before and after a stock split in high-profile companies. (2) In low-profile companies, stock prices differ before and after the stock split. (3) There are differences in stock returns in high-profile companies before and after a stock split. (4) There is no difference in stock returns for low-profile companies before and after the stock split. (5) There is no difference in abnormal returns in high-profile companies before and after the stock split. (6) There is no difference in abnormal returns in low-profile companies before and after the stock split. (7) There are differences in stock prices following a stock split between high-profile and low-profile companies. (8) There is no difference in stock returns in high and low-profile companies before and after the stock split. (9) There is no difference in abnormal stock returns before and after a stock split at high and low-profile companies.

Good corporate governance as moderation on sustainability report disclosure

This study aims to analyze the financial indicators on the disclosure of sustainability reports, and the role of good corporate governance can strengthen the disclosure of sustainability reports. The novelty of this research is the role of the moderating variable of the audit committee and the board of directors is expected to be able to provide a solution to the inconsistency of the results of previous studies. The population of this study is mining companies listed on the Indonesia Stock Exchange (IDX) for the 2017–2019 period because they are high-profile companies that significantly impact environmental damage. This study shows that the variables of liquidity, profitability, and leverage have a positive influence on the disclosure of the sustainability report, while the size of the company has a negative effect (Aniktia & Khafid, 2015). The board of directors can strengthen the relationship between company size and profitability in the disclosure of sustainability reports and weaken the relationship between company size, liquidity, profitability, and leverage in the disclosure of sustainability reports. Companies can use the results of this study to consider the application of sustainability reports and investors can increase their attention to financial reports and sustainability in choosing where to invest.

Sustainability context and industry profile on the effect of gender diversity on firm value

The aim of this study is to test the influence of the board's gender diversity on firm value through sustainability report disclosure. The research also examines the effect of industry profile in moderating the board's gender diversity relationship with sustainability report disclosure and the moderation of sustainable investment practices in the relationship between sustainability report disclosure and firm value. The testing uses panel data regression to analyze 306 sample data from non-financial companies listed on the Indonesia Stock Exchange that comply with the sample selection criteria. The research findings prove that board gender diversity is able to increase firm value because investors view the presence of female board members as reflecting a good corporate governance mechanism. This research also proves that the presence of women board members reduces the level of sustainability report disclosure. The effect of board gender diversity on sustainability report disclosure is reduced in high-profile companies. High-profile companies experience strong pressure to make disclosures of activities in which environmental and social impacts are transparent. Conversely, this study cannot demonstrate a mediating role of sustainability report disclosure on the effect of board gender diversity on increasing firm value. The interaction effect of sustainable investment practices is also not significant in this study. The research findings provide an understanding of board gender diversity, sustainability report disclosure, and firm value within the multi-theoretical framework of agency theory, stakeholder theory, and social role theory.

Does carbon emissions disclosure affect Indonesian companies?

This research aims to examine the factors that influence the disclosure of carbon emissions. The factors tested are PROPER rating, company size, profitability, leverage, and audit committee. The population in this study comprises high profile companies listed on the Indonesia Stock Exchange (IDX) in 2016-2020. Purposive sampling is used in order to obtain 18 companies with 90 units of analysis. Multiple linear analysis was used to test the effects the variables have on each other. The quantity determination of carbon emission disclosure is measured using the GRI Standards 2016 index checklist by comparing the total items disclosed with the maximum total disclosed. The results of this study indicate that company size has a positive effect on carbon emission disclosure, while PROPER rating, profitability, leverage, and audit committee do not affect the disclosure of carbon emissions.

Pengaruh Profitabilitas Terhadap Pengungkapan Corporate Social Responsibility (CSR) Perusahaan High Profile

This study aims to examine the effect of profitability on disclosure of Corporate Social Responsibility (CSR). The research method used is quantitative research with secondary data documentation in the form of financial reports or accountability reports published by the company for the period 2016-2018. With a total sample of 24 High Profile companies listed on the IDX. The statistical analysis used was a simple linear regression analysis that was preceded by a normality and linearity test as a prerequisite for the regression test and then tested for the significance of the regression coefficient (t-test) and the correlation test. The results of the hypothesis test are profitability affects the disclosure of Corporate Social Responsibility (CSR).
 
 Keywords : Profitability, Corporate Social Responsibility, ROA, Global Reporting Initiative Index

Responding to a corruption crisis through disclosure and remedial action: The case of Petrobras

This case study adopts a positivist perspective to examine how Petroleo Brasileiro S.A (“Petrobras”), a high-profile company in its native Brazil with multiple listings including in Brazil and the US, responded to a major corruption scandal arising in 2014. We consider Petrobras's response both in terms of its visible activities – i.e. in relation to anti-corruption and compliance (“ACC”) disclosures in its annual report (AR) and sustainability report (SR), as well as actioned remedial policies that constitute the crisis plan – and how the company went about interacting with stakeholders during and after the immediate crisis period. We conducted a content analysis of ACC disclosures and assessed Petrobras's remedial activities in the eight-year period 2010–2017 as disclosed in its ARs, SRs and press releases. We find firstly that, consistent with legitimacy theory, Petrobras responded by voluntarily and substantially increasing its relevant disclosures so as to regain legitimacy, a finding which mirrors those found elsewhere following corruption and environmental crises. Secondly, the unique corporate governance situation at Petrobras combined with the fact that leadership was allegedly implicated in the scandal, led the post-crisis management team to undertake a series of remedial actions that prioritised the need to take and maintain executive control and independence from the government, whilst at the same time carefully managing the relationship with this influential stakeholder: - actions which argue strongly in favour of stakeholder-agency theory and multiple agency theory interpretations of the nature of stakeholder interactions that transpired during the crisis period of disequilibrium, and which precluded the type of stakeholder dialogue seen in some previous environmental crisis situations. Finally, we show that Petrobras's crisis management response actions align well with models of trust repair and legitimacy management, and suggest the company considered it had successfully regained legitimacy by 2017.

EMPIRICAL STUDY ON THE IMPACT OF CSR DISCLOSURE ON PROFITABILITY

This research aims to determine the effect of CSR disclosure on Corporate Social Responsibility (CSR) on profitability. The variables used to measure profitability in this research are: return on equity (ROE), return on assets (ROA), earnings per share (EPS), and net profit margin (NPM). The object of this research is a high-profile company registered in the Indonesia stock exchange. using the descriptive analysis method. The results of this research are the regression coefficient showing that the influence of CSR on ROE is 0.057 with a significance value of 0.883. The significance value of 0.883 is greater than 0.05 so the CSR variable does not influence ROE. The influence of CSR on ROA shows a value of 0.240 with a significance value of 0.519The significance value of 0.519 is greater than 0.05 so the CSR variable does not influence ROA. The effect of CSR on EPS shows a value of 1.147 with a significance value of 0.000. The significance value of 0.000 is smaller than 0.05 so the CSR variable influences EPS. The influence of CSR on NPM shows a value of 0.472 with a significance value of 0.248. The significance value of 0.248 is greater than 0.05 so the CSR variable does not influence NPM.

ANALYSIS OF THE EU CYBERSECURITY ACT UNDER THE THEORY OF NEOLIBERAL INSTITUTIONALISM

Wannacry Ransomware epidemics have attacked several high-profile companies in European Union creating an EU-wide cybersecurity crisis in the digital economy and social order. In response, European Union established an appropriate regulation in cybercrime namely The Cybersecurity Act. The Act as an international regime does not only gives a permanent mandate that strengthens European Union Agency for Network and Information Security (ENISA) but also establishes The EU Cybersecurity Certification Scheme in order to increase cybersecurity and build cyber resilience in the European Union Digital Single Market. This paper investigates how does the Cybersecurity Act as a business law in maintaining cybersecurity aspect on the European Union Digital Single Market through the theory of neoliberal institutionalism as a framework of thinking. After a series of conduction of literature reviews, this research argues that The Cybersecurity Act would be an appropriate regulation in dealing with the cybersecurity crisis in the digitalized market order. The standardization in The EU Cybersecurity Certification Scheme regulated by The Cybersecurity Act would improve cybersecurity and build cyber resilience in the European Union Digital Single Market.

Factors influencing carbon emissions disclosures in high profile companies: some Indonesian evidence

The purpose of this article was to examine the influence of ownership structure, environmental performance, financial performance, and company size on carbon emissions reporting of high profile companies in Indonesia. Ownership structure was measured by foreign ownership, institutional ownership, and concentrated ownership, while environmental performance was measured by the Company Performance Rating Program in Environmental Management released by the Ministry of Environment (PROPER) and ISO 14001 certification. The disclosure of carbon emissions was assessed by an index drawn from the carbon disclosures project (CDP). High profiles companies were chosen as the sample since the companies create carbon emissions in their operation which contributes to global climate change. Utilizing 102 companies in 2019 as a sample, results of multivariate regression suggest that institutional ownership and size positively influence the level of carbon emission disclosure. These results indicate that larger companies and companies owned by an institution have a higher tendency to report carbon emissions either in the firm’s annual report or in the sustainability reporting. The findings motivated the listed companies in reporting their carbon emission which is voluntary in nature. Such findings may give an understanding to the capital market regulatory body in releasing regulations that encourage listed companies to report their carbon emission.

Comparison of the Host Based Intrusion Detection Systems and Network Based Intrusion Detection Systems

Recently, Advanced Persistent Threat (APT) has emerged as sophisticated and tailor-made attacks. APTs pose threats mainly targeting institutions such as military, defense and security infrastructure, high profile companies and governments etc. Particularly as a counter measure for APT attacks done by hactivists and cyber warriors and cyber terrorists over government institutions and e-government applications intrusion detection mechanisms are of crucial importance in effective defense. In this study, Intrusion detection and prevention systems have been studied in detail after being referred to the tasks and abilities of the intrusion detection systems that are at the core of the computer security technology presented today in order to meet the increasing need for information and network security. This paper’s aim is the specifying the differences between Host Based Intrusion Detection Systems (HIDS) and Network Based Intrusion Detection Systems (NIDS) and compares the tools which are using HIDS and NIDS. It is asserted that in order to have a better assurance for APT attacks there should be set up a Hybrid IDS approach covering both networks and hosts using both signature and behavioral detection mechanism based on machine learning.

Pengaruh Pengungkapan Tanggung Jawab Sosial dan Tata Kelola Perusahaan Terhadap Kinerja Keuangan

The Covid-19 pandemic has regressed companies’ financial performance affecting the perspective of public and investors on sustainability that of the risk of financial distress. Companies need specific programs to improve this condition. Corporate Social Responsibility Disclosure (CSRD) and Good Corporate Governance (GCG) implementation are able to develop financial performance. This study aims to take a quantitative perspective to explore how CSRD and GCG affect financial performance. From high profile companies listed on the Indonesia Stock Exchange for the period 2018-2020, this study collects the sample using a non-probability technique and judgement method. The results show that CSRD, independent board of commissioners, audit committee, and firm size have significant effect on financial performance, while institutional ownership and board of directors have no significant effect on financial performance.

Pengaruh Leverage dan Profitabilitas Terhadap Pengungkapan Corporate Social Responsibility

Management of natural resources and environment who is not responsible the main issues disclosure of corporate social responsibility . This study aims to determine the influence of leverage and profitability on the disclosure of corporate social responsibility. The company sampled 42 high profile companies selected using purposive sampling techniques. The hypothesis testing process is done using panel regression. Based on the test results found that leverage is insignificant to CSR disclosure, while profitability has a significant positive influence on CSR disclosure. High profile Company is a company that has a high level of sensitivity to the environment. The company's operational activities are high profile potential and directly related to the environment. It is expected that for High Profile Company management in order to maintain and improve the company's performance, the greater the financial performance will increase CSR disclosure. Cara Mengutip: Rivandi, M., Dewi, M. K., & Meirina, E. (2021). Pengaruh Leverage dan Profitabilitas Terhadap Pengungkapan Corporate Social Responsibility. Esensi: Jurnal Bisnis dan Manajemen, 11 (1), xx-xx. https://doi.org/10.15408/ess.v11i1.14249.