Article Per Year (5 Year)
p-Index From 2021 - 2026
0.562
P-Index
This Author published in this journals
All Journal COUNT: Journal of Accounting, Business and Management
Bambang Mahendra Andhika
Manajemen, Universitas Terbuka
Economics, Econometrics & Finance

Published : 3 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 3 Documents
Search

 1 
ANALYSIS OF ENERGY INTENSITY AS A MEANS OF IMPLEMENTING OPERATIONAL AND COST EFFICIENCY TO IMPROVE THE OPERATIONAL AND FINANCIAL PERFORMANCE OF PT TIMAH TBK Sri Suryaningsum; Septi Anggraini Putri; Bambang Mahendra Andhika; Agus Harjanto; Dwiyanjana Santyo Nugroho
Count : Journal of Accounting, Business and Management Vol. 3 No. 3 (2026): January: COUNT: Journal of Accounting, Business and Management
Publisher : CV. Fahr Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61677/count.v3i3.658

Abstract

This study analyzes the implementation of energy intensity as a measure of operational and cost efficiency at PT Timah Tbk during the 2020–2024 period. Using a quantitative descriptive approach with secondary data from the company’s annual and sustainability reports, this study calculates energy intensity trends and analyzes their relationship with operational cost efficiency and financial performance, proxied by Return on Assets (ROA) and Gross Profit Margin. The results reveal extreme fluctuations in the company’s energy intensity, peaking at 120.27 GJ/ton in 2023—the highest level during the observation period—followed by a significant improvement to 75.40 GJ/ton in 2024. The 134.89% increase in energy intensity in 2021 and the 32.48% increase in 2023 were driven by a decline in production that was not accompanied by a proportional decrease in energy consumption, indicating structural inefficiencies in energy management. Conversely, the 37.32% improvement in energy intensity in 2024 demonstrates the successful implementation of efficiency measures that contributed to the achievement of a profit of Rp 1.19 trillion. These findings highlight the critical relationship between energy intensity management and corporate financial performance, with managerial implications emphasizing the need for sustained investment in energy-saving technologies and the integration of ESG principles into corporate strategy to achieve sustainable competitive advantage.
SUSTAINABILITY FOUNDATION VS. MARKET VOLATILITY: THE ROLE OF ESG IN CREATING LONG-TERM FIRM VALUE AT PT ANTAM TBK Sri Suryaningsum; Tri Zulfian Ibrahim; Kusharyanti; Marita; Bambang Mahendra Andhika
Count : Journal of Accounting, Business and Management Vol. 3 No. 3 (2026): January: COUNT: Journal of Accounting, Business and Management
Publisher : CV. Fahr Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61677/count.v3i3.693

Abstract

This study aims to examine the role of Environmental, Social, and Governance (ESG) in enhancing firm value at PT Aneka Tambang Tbk (ANTAM) during the period 2019–2025. The research employs a descriptive quantitative approach using secondary data obtained from sustainability reports, annual reports, and official corporate publications, as well as international standards such as GRI, TCFD, and the OJK Sustainable Finance Roadmap. Firm value is analyzed using two indicators: stock price as a proxy for market value and Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) as a proxy for operational performance and economic value. The analysis applies a descriptive-comparative method by linking empirical findings with signaling theory, legitimacy theory, and stakeholder theory. The results indicate that ANTAM’s ESG performance shows a relatively consistent improvement across environmental, social, and governance dimensions, reflected in carbon emission control, energy efficiency, human capital development, and strengthened corporate governance. Although stock prices fluctuate due to external factors and commodity market volatility, the stability and upward trend of EBITDA suggest stronger operational fundamentals. These findings highlight that ESG functions as a long-term value creation foundation, where its impact on market value is not always immediate but accumulates through sustained sustainability practices and improved external conditions.
BURN RATE AND NET BURN RATE: CONCEPT, MEASUREMENT, AND IMPLICATIONS FOR PROFITABILITY Akbar Harisma Ramanda; Sri Suryaningsum; Bambang Mahendra Andhika
Count : Journal of Accounting, Business and Management Vol. 3 No. 3 (2026): January: COUNT: Journal of Accounting, Business and Management
Publisher : CV. Fahr Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61677/count.v3i3.725

Abstract

This study aims to explain the concepts of burn rate and net burn rate, the variation of measurement approaches (based on cash inflows–outflows and based on changes in cash balances), and their implications for profitability, especially net profit margin (NPM). This paper employs a scoping literature review method by compiling academic sources, journal articles, and practitioner references commonly used in startup and corporate financial analysis. The findings indicate that: (1) burn rate can be interpreted as “the rate of cash consumption “and is generally categorized into gross burn rate and net burn rate; (2) net burn rate can be calculated using an expense-income approach per period, or using a cash-balance-change approach that divides the difference between beginning and ending cash by the number of periods; (3) net burn rate is closely related to the concept of cash runway, which estimates how long a company can continue operating with its available cash; and (4) conceptually, burn rate may reduce short term profitability, yet in the context of growth investment, spending too little may also hinder performance and long-term sustainability. These findings provide a conceptual foundation for explaining burn rate and net burn rate variables in profitability-related research.
Co-Authors Agus Harjanto Akbar Harisma Ramanda Dwiyanjana Santyo Nugroho Kusharyanti Kusharyanti Marita Septi Anggraini Putri Sri Suryaningsum Sri Suryaningsum Sri Suryaningsum Tri Zulfian Ibrahim