Value Of Company Research Articles

Competitive assessment of biofuel strategies for a case study in eastern Canada: techno‐economic and multi‐criteria decision‐making analysis

AbstractDecarbonizing the energy sector through biomass use entails risks and uncertainties linked to implementing early stage technologies. To address this issue, this work presents a panel‐based multicriteria decision‐making (MCDM) framework for a corn‐ethanol plant seeking to reduce its carbon footprint while investing in new bioenergy products. Six technology pathways were considered including gasification technologies, pyrolysis, hydrothermal liquefaction, and alcohol to jet, with products such as renewable natural gas (RNG), biochar, green diesel, green marine, and biojet. The alternatives were assessed based on a set of six criteria classified into three categories: economic performance, technology and commercial risks, and competitive advantages. The MCDM framework was based on the multiattribute utility theory (MAUT) for which an in‐person panel of decision‐making stakeholders set the criteria weights. Internal rate of return (IRR) was considered the most important criterion, followed by technology readiness level (TRL) and total installed capital cost (TICC). Surprisingly, the commercial readiness level was allocated a low weight. Finally, the potential for a fossil‐free site (PFFS) criterion was perceived by the panel members more as a desirable attribute rather than a requirement. Among the alternatives considered, the flexible production of synthetic natural gas (FlexSNG) gasification‐methanation process was found to be preferred. The panel‐based MCDM framework proved to be a practical and effective tool for assessing early‐stage biofuel strategies, encouraging alignment with technological innovation, sustainable development, and the company's values and future ambitions.

The Effect of ESG Disclosure and Financial Performance on Company Value with Company Size as a Control Variable on Companies Listed on the ESG Leaders Index

This study aims to evaluate the influence of ESG Disclosure and Financial Performance aspects on Company Value with Company Size as a control variable. This study uses a population of companies included in the ESG Leaders index during the 2021-2023 period and a sample collection method using Purposive Sampling which resulted in 90 research samples. The results of the study reveal that Environmental Social Governance (ESG) Disclosure, Profitability, Liquidity and Company Size as control variables have a positive and significant effect on company value. While Leverage has a negative and insignificant effect on company value. This finding emphasizes the importance of integrating ESG principles into corporate strategy not only to mitigate risk but also to increase the company's attractiveness in the eyes of investors. This study provides a relevant empirical contribution, especially in the context of developing countries and can be used as a reference for other companies in optimizing company value through the implementation of effective sustainability practices.

Enterprise risk management manufacturing industry quality determinants

Goal: Large manufacturing companies face significant risks due to importing raw materials and exposure to fluctuating exchange rates. Enterprise Risk Management (ERM) is vital in this sector to manage its distinctive risks. This study finds ERM factors in Indonesia and Malaysia that affect company value and empirically evaluates risk management in their organizations. Design / Methodology / Approach: The factors that influence the quality of a company's ERM examined in this study include auditor quality, ownership concentration, board monitoring, gender on the board of commissioners, gender on the board of directors, and human capital. This study's population is 2018-2020; 300 Indonesian and 252 Malaysian manufacturing companies contributed 552 research observations. Results: This study shows that a qualified auditor, board monitoring, gender ratio on the board of commissioners, and human capital may uncover ERM implementation issues. On the other hand, higher share ownership does not affect ERM. Implications for practitioners and suggestions for future researchers are also described. Limitations of investigation: The crucial role of Enterprise Risk Management (ERM) in mitigating these unique industry risks, this study underscores the limitations inherent in factors such as auditor quality, ownership concentration, board monitoring, and gender diversity within corporate leadership. Practical implication: The necessity for manufacturing companies to prioritize specific aspects of Enterprise Risk Management (ERM) in their organizational strategies. Originality / Value: This research illuminates the nuanced interplay of factors shaping Enterprise Risk Management (ERM) efficacy within the dynamic context of the manufacturing industry.

Corporate Social Responsibility And Managerial Ownership: Their Impact On Firm Value In The Indonesian Mining Sector Through Profitability's Mediating Role

The mining industry sector contributes significantly to a country's revenue, with numerous mining companies operating in the sector. However, the large number of mining companies poses a risk to the surrounding natural environment. Companies that prioritize environmental responsibility can improve their public image, which ultimately affects the company's value. This study aims to analyze the role of profitability in mediating the relationship between corporate social responsibility and managerial ownership on firm value. The study sample includes 10 mining companies listed on the IDX for a period of 5 years (2015-2019), with a total of 50 financial statements. Using purposive sampling and path analysis, this study concludes that corporate social responsibility has a positive and insignificant effect on profitability; managerial ownership has a significant positive effect on profitability; corporate social responsibility has a significant positive effect on firm value; managerial ownership has a positive but insignificant effect on firm value; profitability has a significant positive effect on firm value; corporate social responsibility mediated the relationship between profitability and firm value, with a significant positive effect; and managerial ownership mediated the relationship between profitability and firm value, with a positive but insignificant effect.

Students' Expectations of Accounting's Role in Ensuring Business Sustainability

This research aims to explore student expectations regarding the role of accounting in understanding and applying the concept of business sustainability through in-depth interviews. In a business context that is increasingly focused on sustainability, accounting has become crucial in measuring, reporting and guiding sustainable business decisions. Through interviews with students, their expectations regarding the role of accounting for business sustainability are reflected in various aspects. First, accounting measures a company's sustainability performance by monitoring the environmental, social and economic impacts of business activities. Second, accounting provides a framework for preparing transparent and informative sustainability reports, helping to meet stakeholder needs. Third, accounting helps companies identify, evaluate and manage risks and opportunities related to business sustainability. Fourth, accounting facilitates the assessment of a company's long-term value by considering the social, environmental, and economic impacts of business operations. Fifth, information produced by accounting guides company management in making strategic decisions that support sustainable business growth and build a strong reputation in the eyes of stakeholders. Through a better understanding of the role of accounting in the context of business sustainability, students expressed their belief that accounting is a tool for shaping a more responsible and socially and environmentally sustainable business future.

How do Islamic corporate social responsibility and environmental performance relate to company value?

Purpose – This study aims to provide a comprehensive analysis of the impact of the investment opportunity set (IOS), profitability, Islamic corporate social responsibility (ICSR), and environmental performance (EP) on the value of environmentally sensitive companies. The research explores both short-term and long-term impacts of these variables on corporate value. Methodology – This study utilized Vector Error Correction Model (VECM) approach to analyze annual data from 2016 to 2022, focusing on environmentally sensitive companies in the Indonesian Sharia stock index. Findings – The VECM method yielded several key findings, including no significant impact of IOS on company value in either short or long term. However, variables such as ICSR, environmental performance, and profitability exhibited a significant influence on company value over the same timeframe.Implications – This study suggests that, to enhance credibility, companies should prioritize financial stability, credibility in financial reporting, social responsibility, and environmental regulations. They should identify the best investment opportunities and collaborate with the government to achieve environmental sustainability.Originality – Our study seeks to delve into the relationship between several variables, including IOS, profitability, ICSR, environmental performance, and the overall value of environmentally sensitive companies. This topic has not been explored in-depth by previous research, and our study aims to shed light on both short- and long-term effects of these factors on corporate value.

Reciprocal Value of SMES Products in Strengthening Sustainable Green Competitiveness for Economic Growth in Indonesia

Objective: This study aims to examine the variables of Green Consumerism, Green Brand Image, Green Competitive Position, and Sustainable Competitive Advantage. As well as investigating the Reciprocal of Value Product (RVP) in strengthening the competitive position of green products of Indonesian SMEs. Theoretical Framework: This research is developed from theories of sustainable business models, green marketing, and competitive advantage. The novelty of 'Reciprocal of Value Product' (RVP) integrates company value creation with socio-environmental values, emphasizing sustainable reciprocity. Method: Primary data were collected using interviews, surveys, and field studies of 315 SMEs producing environmentally friendly products in Indonesia using purposive non-random sampling techniques using Structural Equation Modeling analysis. Results and Discussion: The findings reveal that Environmental Sustainability positively and significantly affects RVP. RVP has a significant positive impact on Green Consumerism and Green Competitive Position. Also, Green Consumerism shows a positive and significant influence on Green Brand Image. These relationships highlight the interconnected nature between sustainable business practices and market competitiveness. Research Implications: This study shows that Indonesian SMEs can adopt RVP into their strategic framework. The research findings show that sustainable practices increase the perceived value of products, which in turn affects green consumer behaviour and competitive positioning. Originality: The main contribution of this research is the RVP to integrate corporate and socio-environmental value creation. Novelty offers valuable insights for SMEs seeking to enhance their competitive advantage through sustainable practices in the global marketplace.

Pengaruh Return On Asset, Leverage, Dan Ukuran Perusahaan Terhadap Penghindaran Pajak Pada Perusahaan Real Estate Dan Property Yang Terdaftar Pada Bursa Efek Indonesia (BEI) Tahun 2019-2023

This research aims to empirically test the influence of Return on Assets, Leverage, and Company Size on Tax Avoidance in Real Estate and Property companies listed on the Indonesia Stock Exchange (2019-2023). This research includes quantitative research. The data used in this research is in the form of annual financial reports for real estate and property listed on the Indonesia Stock Exchange 2018-2022. The population in this study was 92 companies. The sample that meets the criteria is 17 companies. The number of observation samples was 85 data obtained using purposive sampling techniques. The analysis technique used is multiple linear regression using SPSS version 29. The results of the research show that the variable Return On Assets partially has a significant effect on company value with a significance value of 0.001, the Leverage variable partially has no significant effect on company value with a significance value. amounting to 0.108, and the Company Size variable partially has no significant effect on company value with a significance value of 0.617. The research results show that the variables Return On Assets, Leverage and Company Size simultaneously have a significant effect on Tax Avoidance with a significance value of 0.001.

Voluntary Adoption of Integrated Reporting and Firm Valuation: The Moderating Effect of ESG Performance

This study addresses a research gap by examining the impact of the voluntary adoption of integrated reporting on company value (TOBINSQ) for companies listed on the Indonesian Stock Exchange. A purposive sampling method was used to select the sample, which included companies with available ESG scores from 2018 to 2022 and accessible annual reports for the same period. The final sample consists of 83 companies, totalling 299 observations. Multiple regression analysis was employed to assess the direct effects of integrated reporting and the moderating role of ESG performance (ESGSCORE) on company value. Our findings reveal that integrated reporting positively influences company value and that ESG performance significantly moderates this relationship, enhancing the benefits of integrated reporting. The results underscore the importance for companies to adopt integrated reporting and enhance ESG performance to improve market valuation. The study also suggests that promoting integrated reporting and ESG disclosures can enhance market transparency and accountability. Future research should focus on longitudinal studies, sector-specific analyses, geographical variations, and the role of digital technologies in integrated reporting and ESG performance to provide deeper insights and practical recommendations.

How do foreign and domestic institutional investors drive the market value? The influence of family ownership

PurposeThis paper aims to investigate and compare the impact of foreign and domestic institutional investors on the market value of family and non-family companies. Subsequently, it examines how different degrees of family ownership influence foreign and domestic institutional investors and their value impacts.Design/methodology/approachThe sample of this study includes 339 non-financial firms from NIFTY-500 for 11 years from 2011 to 2020, which contains 128 family and 211 non-family companies. Both static (fixed-effect model) and dynamic (two-step system generalized method of moments) models are employed to test the hypotheses.FindingsFindings suggest that foreign institutional investors outshine domestic institutions regarding value creation. Meanwhile, higher (>50%) family holdings are detrimental to foreign institutional investors, while moderate holdings (26–49%) improve domestic institutional investments. The favorable effect of foreign players gets diluted with the higher (>50%) family holdings, while the adverse impact of domestic players improves with the moderate (26–49%) family holdings. Overall, partial family control is beneficial, while low and absolute family control is detrimental to market value. These findings indicate that institutional investors are family control-dependent, where the family control effect is not static.Originality/valueThis paper offers a novel perspective by addressing the effect of costs and benefits realized at three distinctive levels of family holdings on foreign and domestic institutional investors and their value impacts to witness differences caused by varying family control, which is not done earlier as per the best of our knowledge.

The Influence of the Background and Characteristics of the Chief Executive Officer on Company Performance

This study aims to analyze the influence of CEO background and characteristics on company performance. Purposive sampling is the method of sampling that is employed, using information gathered from 83 financial firms that were listed between 2020 and 2022 on the Indonesia Stock Exchange. According to data analysis using multiple regression, the background characteristics of the CEO including gender, tenure, education, and experience significantly improve the performance of the business. As for CEO characteristics, duality, citizenship, stock ownership, and turnover also significantly improve business performance. These results demonstrate that according to agency theory, CEO characteristics, and background are crucial in reducing agency conflicts and enhancing company performance. CEOs with sufficient educational background, experience, and tenure are typically more successful in reaching judgments that are in line with the objectives of shareholders. Characteristics such as duality, citizenship, and stock ownership by the CEO provide greater motivation to enhance company value, while strategic turnover can bring the necessary innovation and change.

The Influence Of Capital Structure, Tax Avoidance, and Profitability On The Value Of Companies In The Food and Beverage Manufacturing Subsector

This study aims to analyze the influence of capital structure, tax avoidance, and profitability on firm value in the food and beverage sub-sector manufacturing companies listed on the Indonesia Stock Exchange (IDX) during the period 2015-2019. Capital structure is measured using the debt to equity ratio (DER), tax avoidance is measured using the cash effective tax rate (CETR) proxy, and profitability is measured with return on assets (ROA). The value of the company as the dependent variable is measured using the price to book value (PBV). The data used is secondary data in the form of company financial statements obtained from the official IDX website. Data analysis was conducted using multiple linear regression. The research results show that capital structure has a significant impact on company value, tax avoidance does not have a significant impact on company value, and profitability has a significantly positive impact on company value.

Determining the Optimal Capital Structure of PT. Waskita Karya Tbk (Persero)

PT Waskita Karya Tbk, as one of the leading State-Owned Enterprises in Indonesia, plays an important role in national infrastructure development. However, major challenges arise due to the company's dependence on debt financing which causes an unbalanced capital structure. This study aims to determine the optimal capital structure of PT Waskita Karya and provide strategic solutions to support its business sustainability. Based on the analysis of financial projections for 2025, the optimal capital structure can be achieved at a debt ratio of 15%, with a Weighted Average Cost of Capital (WACC) of 7.50%. In this condition, the company's value can be maximized to IDR25,175 billion. This study recommends three main steps: debt restructuring through negotiation and debt-to-equity swap, sale of non-strategic assets to pay off high-interest debt, and operational efficiency with a focus on high-value projects. This study emphasizes the importance of strategic capital structure management for the sustainability of PT Waskita Karya. With targeted implementation, the company is expected to reduce financial risk, increase company value, and remain a reliable partner in national infrastructure development.

PENGARUH GREEN ACCOUNTING, SOLVABILITAS, PERPUTARAN PIUTANG DAN PERPUTARAN PERSEDIAAN TERHADAP NILAI PERUSAHAAN PADA SUB SEKTOR PERTAMBANGAN YANG TERDAFTAR DI BURSA EFEK INDONESIA

The value of a company is crucial because it reflects the company's performance, which can influence investor perceptions. However, in the long term, a company should not only focus on its value but also consider environmental issues that can affect its sustainability. This study aims to examine the effect of Green Accounting, Solvency, Accounts Receivable Turnover, and Inventory Turnover on the Company Value in the Mining Sub-Sector listed on the Indonesia Stock Exchange (IDX). The population consists of all objects to be investigated, which in this study amounts to 62 companies in the mining sub-sector listed on the IDX. The sample used in this study includes 22 companies over a period of 3 years, resulting in a total of 66 research samples. The findings show that Green Accounting has a negative and insignificant effect on the company value, Debt to Equity Ratio has a positive and significant effect on company value, Accounts Receivable Turnover does not have a significant effect on company value, and Inventory Turnover has a positive and significant effect on company value. Meanwhile, simultaneously, Institutional Ownership, Return on Assets, Return on Equity, Green Accounting, Debt to Equity Ratio, Accounts Receivable Turnover, and Inventory Turnover all have a positive and significant effect on company value.

Accounting aspects of innovation risks

Subject. This article analyzes the problematic aspects of assessing and account­ing for the risks of innovation activity in the context of achieving the economic effect from it. Objectives.The article aims to identify general approaches to the identification, accounting and control of innovation risks. Methods. For the study, we used the logical method, induction and deduction, comparison, analogy, and abstraction. Results. Based on the study and analysis of general economic approachesto innovation activity, the article finds that this activity has a multidirectional impact on the value of companies in the long term, moreover, with a fairly high risk for its implementation. Conclusions. Accounting and financial statements are information sources for assessing and accounting for the risks of innovation activity. Their data should be used to calculate indicators of operational and strategic risks of innovation, which should be summarized in management reporting formed quarterly for the top management of the organization.

PENGARUH CONTENT MARKETING DAN CITRA MEREK TERHADAP KEPUTUSAN PEMBELIAN KONSUMEN PADA BISNIS SKINCARE

Content marketing and brand image are two important elements in influencing consumer purchasing decisions. Content marketing focuses on providing informative, relevant, and engaging content to build trust, increase brand awareness, create emotional engagement, and provide information that helps consumers make informed decisions. Meanwhile, a strong brand image plays a vital role in building trust, creating loyalty, providing differentiation in the market, and strengthening emotional connections with consumers. The combination of these two strategies allows companies to not only drive purchases but also build long-term relationships with consumers. With proper management, content marketing and brand image can create significant added value for companies in a competitive market.

Faktor-Faktor yang Mempengaruhi Nilai Perusahaan: Perspektif Kebijakan Dividen, Kepemilikan Manajerial, dan Ukuran Perusahaan (Studi Empiris pada Perusahaan Sektor Consumer Non-Cyclicals yang Terdaftar di Bursa Efek Indonesia Tahun 2023)

This study aims to examine the effect of dividend policy, managerial ownership, and company size on company value. This study was conducted on non-cyclical consumer sector companies listed on the Indonesia Stock Exchange in 2023, with a population of 64 companies using saturated sampling techniques. The research method uses a quantitative approach through multiple linear regression analysis, with secondary data sourced from the financial statements of companies listed on the Indonesia Stock Exchange. The data analysis process was carried out using SPSS software. The results of the study indicate that dividend policy, managerial ownership, and company size significantly have a positive effect on company value. For further research, it is recommended to use a longitudinal approach to understand how the relationship between dividend policy, managerial ownership, and company size and company value changes over time.

Pengaruh Pengungkapan Sustainability Information, Profitabilitas dan Capital Adequacy Ratio terhadap Nilai Perusahaan

In 2022, Indonesia assumed leadership of the G20 Presidency. The subject "Recover Together, Recover Stronger" was selected, emphasizing the significance of coordinating economic and development policies. The primary concerns addressed included climate risk, the transition to a low-carbon economy, and sustainable financing. The Financial Services Authority (OJK) initiated the Indonesian Green Taxonomy as a framework for green economic activities and unveiled the Sustainable Finance Roadmap 2021–2025. This research investigates the impact of sustainability report disclosure, profitability, and the Capital Adequacy Ratio on the value of banking firms listed on the Indonesia Stock Exchange from 2019 to 2022. The study examines the influence of sustainability report disclosure, profitability, and Capital Adequacy Ratio on business value. The study employed a quantitative methodology and utilized secondary data from the annual report. The sample comprises 92 financial institutions, with the examined variables including the Sustainability Disclosure Reporting Index (SDRI), Return on Assets (ROA), Capital Adequacy Ratio (CAR), and price-to-book value (PBV) as an indicator of company value. Data were analyzed with SPSS 25. The findings indicate that sustainability report disclosure and ROA adversely impact business value, however CAR has a beneficial correlation with firm value. This study offers empirical data about the significance of sustainability reporting and financial performance in assessing business value within Indonesia's banking industry. This research highlights the significance of non-financial information in investment decisions and enhances the literature on sustainable finance and corporate governance.

The Effect of Profitability and Capital Structure on Company Value in Property and Real Estate Sector Companies Listed on The Indonesia Stock Exchange (IDX)

Company value is investors' perception of the company's level of success in managing resources which is reflected in the company. Company value is very important for companies to improve the welfare of their owners by increasing company value. This research aims to determine whether profitability and capital structure can influence company value. Profitability is measured by ROE, Capital Structure is measured by DER and Company Value is measured by PBV. The method used in this research is a quantitative research method. The population used was all Property and Real Estate Sector Companies listed on the Indonesia Stock Exchange (BEI) and the sample taken using the purposive sampling method was 13 companies. Data collection obtained through secondary data with documentation methods in the form of financial reports. The data analysis techniques used in this research are Descriptive Statistics, Classical Assumption Test, Multiple Linear Regression Analysis Test, Correlation Analysis Test, Coefficient of Determination Test and Hypothesis Test. The results of the analysis carried out show that partially Profitability (ROE) has a significant effect on Company Value (PBV), so H1 is accepted. Capital Structure (DER) has a significant effect on Company Value (PBV), so H2 is accepted. And simultaneously Profitability (ROE) and Capital Structure (DER) have a significant effect on Company Value (PBV), so H3 is accepted.

The Role of Company Size Moderating the Effect of Capital Structure and Profitability to Firm Value in Consumer Non-Cyclicals Businesses on the Indonesian Stock Exchange

Aims: Study this is about the firm value, aiming to test company size to moderate the influence of capital structure and profitability on the firm value in consumer non-cyclical business listed on the Indonesia Stock Exchange (IDX). Study Design: The design of this research study is correlational. Place and Duration of Study: Consumer non-cyclical business on the Indonesia Stock Exchange (IDX) issuers in 2018-2022. Methodology: This study's population was 122 non-cyclical consumer companies listed on the Indonesia Stock Exchange from 2018 to 2022. From the population, a sample of 56 was selected based on the purposive sampling method with 5 years of observation (2018-2022), so the number of samples was 280. However, there were 18 outlier data, so the final sample was 262. Data were collected using documentary methods and analyzed using a quasi-moderation model, which was processed with SPSS 24. Results: The study's results indicate that company size can moderate the effect of capital structure and profitability on company value. This means that capital structure and profitability on a larger company scale can strengthen the increase in company value. However, partially or individually, company size, capital structure, and profitability do not affect company value. Conclusion: The top-based results of the contribution study support the signalling theory and prove that empirical improvement in the size of a company can moderately influence the capital structure and profitability on increased firm value.