Article Per Year (5 Year)
p-Index From 2021 - 2026
0.23
P-Index
This Author published in this journals
All Journal COUNT: Journal of Accounting, Business and Management
Tri Zulfian Ibrahim
Akuntansi, Fakultas Ekonomi dan Bisnis, UPN Veteran Yogyakarta
Economics, Econometrics & Finance

Published : 1 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 1 Documents
Search

 1 
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.
Co-Authors Bambang Mahendra Andhika Kusharyanti Kusharyanti Marita Sri Suryaningsum