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

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GOVERNANCE OF ENERGY INTENSITY IMPLEMENTATION: CASE STUDY OF PT ALAMTRI RESOURCE INDONESIA TBK Sri Suryaningsum; Bambang Mahendra Andhika; Nelly Roffiatun
Count : Journal of Accounting, Business and Management Vol. 3 No. 1 (2025): 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.v2i2.499

Abstract

This study analyzes the governance of energy intensity implementation at PT Alamtri Resource Indonesia Tbk. (2019-2023) through a quantitative descriptive approach, namely calculating energy intensity and then conducting a comparative analysis of similar sectors. The results show significant fluctuations: energy intensity jumped 54% (2020) and 202% (2023) during production expansion without technological innovation, but dropped drastically by 61% (2021) and 60% (2022) post-infrastructure investment. Comparatively, the company's performance is consistently above the average of the Indonesian mining sector (0.28 SBM/million Rp), with a gap of 20 times the minimum sector value (2019). This dynamic is influenced by internal factors (economic activity, technical efficiency) and external factors such as regulatory pressures on  Rencana Umum Energi Nasional (RUEN), dependence on national infrastructure (network losses of 8.2%), and fluctuations in commodity prices. The managerial implications emphasize continued investment in equipment updates, technology integration during expansion, and collaboration with governments to mitigate systemic challenges. These findings are the basis for operational policies to achieve national targets while mitigating the risk of inefficiency.
THE INFLUENCE OF PROFITABILITY IN DETERMINING STOCK PRICES AND FIRM VALUE IN THE CONSTRUCTION MATERIALS SUB-SECTOR: A STUDY ON PT SEMEN INDONESIA (SMGR) FOR THE FIRST SEMESTER OF 2025 & 2026 Sri Suryaningsum; Jelita Mayka Maharani; Ratih Sekar Ratnasari; Bambang Mahendra Andhika
Count : Journal of Accounting, Business and Management Vol. 4 No. 1 (2026): 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.v4i1.691

Abstract

This study aims to analyze the effect of profitability indicators—Return on Assets (ROA), Return on Equity (ROE), and Net Profit Margin (NPM)—on stock prices and their implications for the firm value of PT Semen Indonesia (Persero) Tbk (SMGR) in the first half of 2025 and 2026. Firm value is proxied by Price to Book Value (PBV), while stock prices are analyzed using monthly and quarterly average data. The study employs a qualitative descriptive-comparative literature study and documentary analysis. Secondary data were obtained from SMGR’s financial reports, Indonesia Stock Exchange publications, stock market data, and relevant scientific literature. The results show that in 2025 profitability declined from Q1 to Q2, yet the average stock price increased from Rp2,596 to Rp2,703 and PBV remained relatively stable at 0.36x. In contrast, in 2026 profitability improved in Q2, but the stock price weakened and PBV fell to 0.26x due to systemic market pressures, including the sharp decline in the Jakarta Composite Index and geopolitical tensions. These findings indicate that the short-term relationship between profitability and stock price is non-linear; market sentiment, industry prospects, investor expectations, and macroeconomic conditions also shape firm value. Thus, profitability affects stock prices and firm value, but it is not the sole determinant of market perception.
Co-Authors Jelita Mayka Maharani Nelly Roffiatun Ratih Sekar Ratnasari Sri Suryaningsum Sri Suryaningsum