Long-term Corporate Research Articles

The impact of CSR disclosure, audit committees, independent commissioners, and managerial ownership on corporate value: An empirical study of basic materials sector companies listed on the Indonesian stock exchange

Negative sentiments stemming from declining aluminum exports, coal price fluctuations, a global economic slowdown, and environmental pressures influence investors' perceptions of investing in the raw materials sector. CSR disclosure and implementing Good Corporate Governance principles through audit committees, independent commissioners, and managerial ownership are vital strategies for enhancing investor confidence and long-term corporate value. This study investigates the effect of CSR disclosure and corporate governance attributes on corporate value, with Return on Assets as the control variable. It utilizes secondary data from annual and sustainability reports, focusing on companies in the basic materials sector listed on the Indonesia Stock Exchange from 2020 to 2023. Quantitative methods are employed, with panel data regression analysis. The results indicate that, partially, CSR disclosure has a negative and significant impact on corporate value, whereas the proportion of the audit committee exhibits a positive and significant effect. The frequency of audit committee meetings and the proportion of independent commissioners do not demonstrate a significant impact. Audit committee competence positively and significantly influences corporate value, while managerial ownership adversely and significantly affects it. Collectively, these variables influence corporate value. These findings provide valuable insights for company management to enhance CSR and governance practices, thereby increasing the company's appeal to investors

프로젝트 관리자의 역량이 기업성과에 미치는 영향: 관리효율의 매개효과를 중심으로

In a rapidly changing business environment, project managers' competency and efficient management processes are crucial for enhancing corporate performance. This study analyzed their impact on corporate performance and management efficiency, targeting 475 workers in the construction and engineering industries. The findings confirmed that project managers' capabilities significantly influence both corporate performance and management efficiency, with notable differences based on the industrial group. These results highlight the importance of strengthening managerial capabilities and implementing efficient management systems to ensure project sustainability and maintain corporate performance. The study underscores that the required capabilities of project managers vary by industry, directly and indirectly affecting performance. By analyzing these industry-specific impacts, the study provides insights for developing tailored project management strategies, ultimately supporting long-term corporate success. It offers both academic and practical value by clarifying these relationships and suggesting industry-specific management approaches.

Strategic Public Relations: Illuminating Corporate Visibility of Higher Learning Institutions in Tanzania through Internal Influence, Internal Collaboration, Media Engagement and Stakeholder’s Confidence

In a current state where the international higher education system has put colleges and universities under pressure of acquiring resources, corporate visibility has become vital for their sustainability and survival. This study aims at exploring the role public relations strategies can play on corporate visibility, focusing on four key themes namely internal influence, internal collaboration, media engagement and stakeholder confidence. Using a qualitative research approach, data were collected from 26 participants through in-depth interviews and supplemented by the review of relevant institutional documents. The findings reveal that internal influence magnified by effective communication play essential role in shaping the corporate visibility of the institution among the public. Internal collaboration, particularly with the management, employees and students emerged as key analytical strategy for extending the institution’s reach and influence. Also findings reveal that media engagement was a powerful tool for amplifying the institution’s achievements and initiatives, while stakeholder confidence was found to be essential in sustaining long-term corporate visibility and credibility of the institution. This study contributes to the understanding of how public relations strategies can be effectively used to illuminate the corporate visibility of Higher Learning Institutions (HLIs) particularly in Tanzania. The insights gained provide practical implications for HLIs and public relations seeking to manage the complexities of reputation management in the education sector. The study further recommends future research to explore these themes in diverse institutional contexts.

Does green HR management attention foster sustainability? A quantile-based analysis

This study investigates the role of Green Human Resource Management (HRM) attention in fostering corporate sustainability. By using a quantile regression (QR) model, I explore Green HRM both as an aggregate measure and across three levels such as operational, managerial, and strategic to provide nuanced insights into how these practices influence sustainability under varying market conditions. The findings reveal that Green HRM attention enhances sustainability at higher quantiles (0.75 to 0.95), underscoring its effectiveness during bullish market phases. Notably, operational-level Green HRM has a significant impact at lower quantiles (0.2), reflecting its relevance during unfavorable market conditions. Managerial-level practices drive sustainability at the 0.95 quantile, while strategic-level efforts show no statistically significant impact across quantiles. These results highlight the importance of tailoring Green HRM strategies to specific market contexts. This study contributes to the literature by offering a quantile-based perspective on Green HRM practices and demonstrating how targeted HR efforts can improve sustainability performance under different market dynamics. Practical implications include the need for adaptive Green HRM strategies and resource allocation to align with shifting market conditions for long-term corporate sustainability.

Strategic Analysis of Information Technology Architecture With Pepprard and Ward Methods At PT. Bank XYZ

The rapid development of the digital era has placed Information Technology (IT) as a crucial element in the banking industry. PT. Bank XYZ aims to enhance its IT capabilities to achieve its business objectives and become one of Indonesia's top banks. In line with the regulatory requirements of POJK No. 11/POJK.03/2022, this research focuses on a strategic analysis of PT. Bank XYZ's IT architecture using the Pepprard and Ward methods, combined with Anita Cassidy’s approach. The research analyzes the current conditions of the bank’s IT architecture and external factors, employing PEST and Porter’s Five Forces methods, followed by a SWOT analysis to identify strengths, weaknesses, opportunities, and threats. From this analysis, strategic recommendations are provided to support the bank’s IT goals over a four-year period (2024-2028). The strategic plan consists of 19 key IT programs covering applications, data, and technology, aimed at enhancing customer experience, data quality, and infrastructure resilience. This roadmap will help PT. Bank XYZ improve its IT operations and align its technological advancements with its business objectives, positioning the bank for growth in the competitive banking sector. The research contributes practical insights into developing an IT strategy that complies with regulatory standards and supports long-term corporate goals.

Environmental orientation, regional innovation, and equity crowdfunding campaigns’ outcomes: Evidence from two Italian platforms

The purpose of this paper is to examine how the crowdfunding campaigns success and long-term corporate failure are affected by the campaigns and firms’ environmental orientation, as well as by the regional innovation level. This study reveals that environmental orientations (of both campaigns and firms) are linked with higher campaign success, while only firm environmental orientation is linked with a lower probability of long-term corporate failure. Additionally, we find that regional levels of innovation are negatively linked with the probability of campaign success.

Implementation of CSR in Environmental Social Accounting Realizing Corporate Responsibility for Sustainability and Community Welfare

Purpose: This study examines the integration of Corporate Social Responsibility (CSR) into environmental social accounting to promote corporate sustainability and community welfare. The goal is to assess how CSR practices contribute to long-term corporate value while ensuring transparency in reporting social and environmental impacts. Research Design and Methodology: The research employs systematic literature review methodology, analyzing academic papers, reports, and case studies on CSR and environmental social accounting. The review identifies frameworks and practices that help companies measure and report CSR outcomes effectively. Findings and Discussion: The study highlights the effectiveness of CSR integration in enhancing corporate reputation, stakeholder trust, and sustainability efforts. It also identifies challenges in reporting consistency, mainly due to the lack of standardized frameworks, which can lead to discrepancies in evaluating CSR performance. The role of technology in improving CSR reporting accuracy and transparency is emphasized. Implications: The research offers practical insights for businesses integrating CSR into their operations. It suggests adopting standardized reporting frameworks and digital tools for better data collection. These steps will enhance CSR’s impact on corporate performance and community welfare, fostering long-term sustainability.

Does intellectual capital have an impact on company risk and performance?: Effect of moderation political connection

This study looks at the effect of intellectual capital on firm performance and risk as well as the moderating effect of political connections. Companies in the current economic era are required to pay more attention to intangible resources. Intellectual capital is considered as the main intangible asset for companies used to create and use knowledge to increase firm value. The population in this study are non-financial companies listed on the Indonesia Stock Exchange in 2014-2021. The analysis method used in this study uses Moderated Regression Analysis. The study finds that the effect of intellectual capital has a significant effect on firm performance and risk, respectively. The moderating effect also affects the overall performance and market-side risk of the firm. Political connections make corporate decision-making inefficient. Future research can consider industry differences in the relationship of intellectual capital to firm performance and risk. This research has managerial implications, namely companies should consider increasing investment in the development and utilization of intellectual capital. Intellectual capital should be integrated into long-term corporate strategy. The limitations of this study are that the findings of this study are limited to developing countries and the need for more comprehensive measurements for intellectual capital.

ESG Information Disclosure and Innovation in New Energy Enterprises: A Case Study of CATL

Abstract: In recent years, ESG (Environmental, Social, and Governance) information disclosure and related ratings have garnered increasing attention from the public and enterprises. ESG information disclosure has gradually become an important way for enterprises to fulfill social responsibility. It not only meets the information needs of various stakeholders but is also closely related to corporate innovation, bearing significant implications for long-term corporate development. This paper employs a combination of literature research and case study methods, selecting CATL (Contemporary Amperex Technology Co., Limited), a representative enterprise in the new energy sector, as a typical case study. By analyzing data and business activities from CATLs ESG reports over the past five years, the relationship between ESG information disclosure and corporate innovation is explored. Additionally, this study incorporates LONGi Green Energy, another industry benchmark, for horizontal comparative analysis to reinforce the research findings. Based on the existing conclusions, the paper further delves into the long-term impacts of the mechanism of ESG information disclosure and corporate innovation. The research results indicate that ESG information disclosure can promote corporate innovation, fostering a virtuous cycle between the two and laying a foundation for the future development of enterprises.

ESG Performance and Enterprise Competitive Advantage Construction: A Case Study of Walmart

This essay opens with an in-depth discussion of the growing importance of ESG concepts in modern corporate management and highlights their significant role in promoting long-term corporate value creation. With the increasing global focus on sustainability, ESG concepts have become an integral part of corporate strategic planning and operational decision-making. Next, this article selects the global retail giant Walmart as a case study and uses SWOT analysis and other management tools to analyse in detail how Walmart has effectively constructed and consolidated its competitive advantages in the highly competitive market through the implementation of an active ESG strategy. The article specifically describes Walmart's practices on several ESG dimensions, including but not limited to the implementation of environmental protection measures, active support to the community, the enhancement of employee welfare, and the optimisation of corporate governance structure. In terms of environmental protection, Walmart has significantly reduced the environmental impact of its operations through measures such as reducing carbon emissions, improving energy efficiency and promoting sustainable products. In terms of community support, the company has strengthened its ties with local communities and enhanced its brand image through various community programmes and charitable activities. Employee well-being has been achieved through improved working conditions and career development opportunities, which have not only increased employee satisfaction but also enhanced the company's attractiveness. The article concludes by summarising the important contribution of Walmart's ESG practices to the company's sustainability and long-term competitive advantage and suggests possible future strategic directions and recommendations for Walmart in ESG based on current market trends and company performance. These recommendations are intended to provide valuable references and insights for Walmart and other companies in their future strategic planning and decision-making processes, especially in terms of how to balance economic efficiency and social responsibility to achieve long-term sustainable development. However, due to the limitation of data and the depth of research on Walmart ESG, the article still has limitations.

Financial Projection for Long-Term Corporate Plan of a Holding Insurance Company for The Year 2025-2029

A company's long-term planning is essential for sustainable business growth and success, especially in the dynamic and competitive insurance industry. This study aims to evaluate the company's feasibility in achieving the desired net profit target based on analysis of current and projected financial data, industry analysis, and conformity with the assumptions and strategic initiatives outlined in the company's long-term plan. The research method used was qualitative. The results show strong growth in the company's key financial metrics. Gross written premium (GWP) is projected to increase from IDR 37.6 trillion in 2024 to IDR 54.5 trillion in 2029 at a compound annual growth rate (CAGR) of 8%. This growth is driven by strategic initiatives focused on market expansion, particularly in the property insurance and credit insurance business lines. Net profit is projected to increase from Rp3.3 trillion in 2024 to Rp6.1 trillion in 2029 at a CAGR of 13.2%, due to improved operational efficiency. The company's initiatives in implementing best practices and streamlining operations will lower its expense ratio from 20.8% in 2024 to 20.4% in 2029. The implications of this study provide strategic insights for insurance company management in formulating long-term policies aligned with market growth and operational efficiency. By aligning strategic initiatives and long-term financial planning, companies can be better prepared to face challenges and capitalize on future opportunities, thereby supporting long-term sustainability and profitability.

Beyond success and failure: learning from execution of corporate entrepreneurial actions

PurposeThis article aims to redefine the paradigm of evaluating corporate entrepreneurial actions, moving beyond the simplistic success/failure dichotomy. It underscores the importance of a nuanced understanding of the outcomes of such initiatives, emphasizing the need for organizations to learn from both their successes and failures. The focus is on fostering a learning organization culture, where strategic decision-making is enhanced through a comprehensive analysis of past entrepreneurial endeavors, thus ensuring long-term corporate health and growth.Design/methodology/approachThe study is based on the analysis of the existing literature and illustrative real-world cases from prominent corporations.FindingsThe findings reveal that understanding the reasons behind the success or failure of strategic initiatives is crucial for sustainable corporate growth. The study highlights that mere success can be misleading without comprehending the underlying factors, just as failure can offer valuable lessons if properly analyzed. The 'Learning from Execution Matrix' facilitates this understanding, aiding corporations in fostering a culture of continuous improvement. The DIRS (Decomposition, Interpretation, Rewarding, Scaling) framework further helps in breaking down and scaling these learnings for broader application within the organization.Originality/valueThis article contributes to the field of strategic entrepreneurship by providing a novel framework for analyzing corporate entrepreneurial actions. The 'Learning from Execution Matrix' and the DIRS framework offer practical, actionable tools for managers and leaders, fostering a culture of learning and strategic adaptation. This approach is original in its emphasis on the nuanced understanding of both successes and failures, making it a valuable guide for corporations seeking sustained growth and innovation in a competitive business environment.

Liquidity Preference, Interest Rate Spread, and the Transformation of the US Financial System

This article examines empirical patterns of interest rate spreads between yields on long-term corporate bonds and the Federal Funds Rate (FFR) in the United States over the period from 1960 through 2023. Since the early 1980s, discernible patterns of interest spreads have emerged, revealing marked deviations in corporate bond yields from the FFR. We focus on financial market forces particularly arising from financial intermediaries in analyzing these patterns. To this end, the article develops a theoretical framework based on the concept of liquidity preference in Keynes’s 1937 papers and the works of Hyman Minsky and Victoria Chick. We also conduct cointegration analyses for corporate bond yields, the FFR, and financial intermediaries’ leverage ratios. Overall, our empirical results indicate that the relationship between the FFR and corporate bond yields—particularly with respect to their long-run relationship and interest rate markups—has markedly changed since the 1980s and is significantly affected by financial intermediaries’ asset/capital leverage ratios. As a policy implication, regulatory reforms aimed at enhancing the Federal Reserve Bank’s capacity to steer long-term rates and contain intermediaries’ balance sheet leverage, particularly those centered on risky asset trading to increase gains from price differentials, are required JEL Classification: B26, E11, E43, E52

Internationalization speed and corporate long-term performance: Exploring the inverted U-shaped relationship

Using data from China's A-share listed companies spanning 2002 – 2022, our research uncovers an intriguing inverted U-shaped dynamic between the velocity of firms' internationalization and their long-term performance. It reveals that while an initial acceleration in internationalization bolsters performance, an overly rapid pace can subsequently lead to a deterioration. Critically, the proportion of independent directors acts as a moderating factor, as a higher concentration of these directors facilitates a balance between the speed and risks associated with internationalization, ultimately optimizing long-term corporate performance. These findings offer vital insights for companies navigating their internationalization strategies and emphasize the importance of robust corporate governance.

Enhancing Business Continuity through Digital Knowledge Management: A Comprehensive Framework for Navigating Uncertainty

The main purpose of this paper is to construct an all-encompassing structure for knowledge management in the era of digitalization, with the aim of guaranteeing the uninterrupted operation of businesses within dynamic corporate landscapes. This research uses the Organizational Information Theory as a theoretical framework and conducts interviews with executives of Indian companies in order to get insights on the relevance of knowledge acquisition in fostering business continuity. The framework places significant emphasis on the use of digital knowledge management (DKM) in identifying, collecting, documenting, organizing, and distributing organizational information in a digitalized manner. This study investigates the theoretical underpinnings of digital transformation, digital engagement, and the many tools and technologies used in knowledge management. This statement underscores the significance of firms' ability to adjust to disruptions and larger patterns, actively surveying the corporate landscape, and involving stakeholders in order to achieve long-term corporate success. The research further underscores the need of effective and timely communication of information in remote work environments, as well as the proactive adoption of BCM (Business Continuity Management) practices. This research contributes to the present body of literature by presenting empirical data that highlights the positive impact of data processing abilities on the improvement of corporate performance. Furthermore, it underscores the need to implement a comprehensive knowledge management framework to ensure the continuation of company operations.

Investor Sentiment and Corporate Governance: The Role of Behavioral Biases in Stock Price Volatility and Managerial Decisions

Behavioural biases influence investor sentiment and behaviour, which in turn influence stock returns, stock price volatility and corporate governance structures. This paper focuses on the role of three common behavioural biases (overconfidence, herding and loss aversion) on investor behaviour, and how these biases drive inefficiencies in financial markets. Using worldwide market data from 1970 to 2019 and focusing on key events such as the 2008 financial crisis and the dot-com bubble, we investigate how these behavioural biases cause market volatility. This analysis further reinforces the importance of strong corporate governance structures such as independent boards, executive pay structures and risk management protocols that help reduce the impact of investor sentiment. The role of speculative bubbles, market overreaction and volatility clustering is also examined further, and corporate governance mechanisms are proposed to help mitigate the effects of behavioural biases on stock prices. The findings demonstrate the importance of adopting long-term corporate goals, transparency and strategies to help better manage market sentiment and safeguard shareholder value.

The impact of corporate governance on firms' propensity to innovate - multidimensional and cross-country analysis

The study examines the correlation between corporate governance ratings, a crucial element of the Environmental, Social, and Governance (ESG) index provided by Thomson Reuters, and companies' inclination towards innovation. Employing a cross-country analysis, the research explores how governance ratings influence corporate innovation decisions. The results reveal a positive association between corporate governance scores and the implementation of innovative practices. Notably, board effectiveness, commitment, vigilance, and compensation structure significantly impact firms' innovation levels. The study further demonstrates that the positive relationship between ESG ratings and innovation is particularly pronounced in companies with larger, more diverse boards, active audit committees, and well-structured compensation systems. This research enhances our understanding of how robust corporate governance frameworks can drive innovation by fostering transparency, accountability, and a positive work environment. Such governance structures mitigate risks, deter unethical behavior, and promote long-term corporate sustainability. Consequently, the study suggests that organizations should prioritize strong corporate governance practices to bolster their innovation capabilities. The findings underscore the pivotal role of corporate governance in shaping firms' innovative potential, contributing valuable insights to the intersection of governance and innovation in the corporate landscape.

Book-Tax Differences during the Crisis: Does Corporate Social Responsibility Matter?

This study investigates the intricate relationship between corporate financial strategies, encapsulated by book-tax differences (BTDs), and firms’ engagement in corporate social responsibility (CSR) programs during economic crises. Using an unbalanced panel dataset drawn from financial, annual, and sustainability reports of over 97 Indonesian non-financial firms from 2017 to 2022, this study reveals that economic crises and CSR activities positively influence total BTD and permanent differences. Notably, firms strategically leverage CSR initiatives amidst crises to enhance their corporate image and manage internal challenges like aggressive tax planning. The robustness of these findings was validated through endogeneity analysis and by examining sub-samples from industries most impacted by the pandemic. In the industries least affected by the pandemic, the direct impact of CSR on BTD was found to be negative, indicating that in the general context, the CSR programs held by these industries are largely driven by normative motives. However, when specified in the crisis context, CSR serves as a strategic buffer for these industries, which reaffirms the prevalence of CSR strategic motives during Indonesia’s pandemic challenges. The findings suggest policy implications for shareholders, regulators, and policymakers to ensure CSR transparency aligns with long-term corporate values and societal impact, incentivizing genuine CSR practices amidst economic uncertainty. Despite its contributions, the study recommends future research explore different domains of CSR and validate findings across diverse contexts to enrich the understanding of CSR’s role in corporate resilience strategies.

Interest rate spreads: Different stories for different types of loan

The paper studies the determinants of the interest rate spreads in Estonia, a country that stands out among European countries for its wide spreads and highly concentrated banking sector. Four distinct credit markets are considered for housing loans, consumer loans, long-term corporate loans and short-term corporate loans. The paper uses quarterly panel data from 2000Q1–2021Q1. It uses a two-stage approach to disaggregate the observed spread into a component determined by the bank-specific factors and a component determined by the market-specific factors, which is called pure spread. For each of the two components, we find substantial differences in the determinants of the spreads across different types of loan. While credit risk is important for long-term corporate and housing loans, inverse efficiency is significant in the segment of short-term loans. The contribution of market concentration to the pure spread is larger for household loans than for corporate loans.

Impact of Digital Marketing in Building Brand Awareness and Engagement

Digital marketing has transformed how brands communicate with customers, greatly increasing brand exposure and engagement. This study investigates the effectiveness of digital marketing tactics such as social media marketing, content marketing, search engine optimization (SEO), email marketing, and pay-per-click (PPC) advertising in raising brand awareness and engaging customers. This study examines current literature and case studies to demonstrate how digital marketing allows firms to reach a larger audience, tailor interactions, and engage with consumers in real time. The findings show that good digital marketing tactics can improve brand visibility, consumer relationships, and customer loyalty. The report also provides essential indicators and methods for measuring the performance of digital marketing campaigns, emphasizing the relevance of data analytics in optimizing marketing efforts. Overall, this study emphasizes the importance of digital marketing in contemporary brand management and its ability to create long-term corporate growth. Keyword: · Digital Marketing, Brand Awareness, Customer Engagement, Social Media Marketing