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An Exploratory Study on The Relationship of Public Governance and Ease of Doing Business Handoyo, Sofik
APMBA (Asia Pacific Management and Business Application) Vol. 6 No. 2 (2017)
Publisher : Department of Management, Faculty of Economics and Business, Brawijaya University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/ub.apmba.2017.006.02.2

This study aims to investigate the relationship of good public governance and ease of doing a business performance. The motivation of the study was driven by slowing down global economy and competition among countries around the world to attract Foreign Direct Investment (FDI). Foreign investors will consider investing their capital in a certain country if in that country adopting ease of doing business practice. The study was intended to reveal, whether the country that applies the good practice of public governance will also lead to good performance in terms of ease of doing business. The study adopted exploratory research design which is public governance and ease of doing business performance treated as two independent variables. Public governance variable was represented by attributes namely public accountability, effectiveness government, regulatory quality, control of corruption, rule of law and political stability. World Governance Index (WGI) was adopted to measure Public Governance and Distance to Frontier (DtF) value is representing a measurement of ease of doing a business performance. The study applied bivariate correlation analysis and involved 188 countries member of World Bank. The results showed that all public governance attributes were positively and significantly associated with ease of doing a business performance. Pearson correlation coefficient indicated that all attributes of public governance had a strong correlation ( rÂ > 0.6, p<0.01), except for political stability attribute (r = 0.584, p<0.01).Â The result implies that practice of good public governance in governmental institution have potential impact on performance of the government in terms of streamlining bureaucracy of doing business in that country.Â Â

Pengaruh Environmental, Social dan Governance (ESG) Terhadap Kinerja Keuangan Perusahaan yang terdaftar di Bursa Efek Indonesia (BEI) Periode Tahun 2018-2022 Hilda Annisawanti; Muhammad Dahlan; Sofik Handoyo
Jurnal Proaksi Vol. 11 No. 2 (2024): April - Juni
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Muhammadiyah Cirebon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32534/jpk.v11i2.5702

Untuk mendukung tercapainya SDG’s, berbagai isu sosial dan ekonomi diidentifikasi menjadi prioritas utama pembangunan berkelanjutan dalam beberapa dekade mendatang. Faktor Environmental, Social dan Governance (ESG) telah menjadi komponen penting dalam keputusan investasi global. Namun Indonesia masih harus menghadapi sejumlah tantangan dalam penerapan ESG. PeneIitian ini bertujuan untuk mengetahui besar pengaruh EnvironmentaI, SociaI dan Governance terhadap Kinerja Keuangan Perusahaan yang Terdaftar di Bursa Efek lndonesia periode 2018-2022 dan variabeI kontroI yaitu karakteristik perusahaan seperti ukuran perusahaan dan umur perusahaan serta seIuruh variabel menggunakan lag +1 tahun. PopuIasi merupakan seluruh perusahaan yang terdaftar di BEl. Teknis pengambilan sampeI adalah sampIing jenuh. Metode analisis data yang digunakan adalah analisis data panel. HasiI dari penelitian ini menunjukkan bahwa secara parsiaI kinerja Iingkungan dan kinerja sosiaI tidak berpengaruh terhadap kinerja keuangan, sedangkan kinerja tata keIoIa berpengaruh terhadap kinerja keuangan. Secara simuItan, kinerja Iingkungan, kinerja sosial dan kinerja tata keIoIa berpengaruh terhadap kinerja keuangan.

Analisa Pengaruh Efektivitas Penerapan Enterprise Resource Planning (ERP) dan Good Corporate Governance (GCG) terhadap Firm Performance melalui Business Model Innovation (BMI) sebagai Variabel Intervening (Studi Kasus di Perusahaan BUMN 2024) Panjaitan, Yuni Margaretta; Dahlan, Muhammad; Handoyo, Sofik
Jurnal Locus Penelitian dan Pengabdian Vol. 4 No. 11 (2025): JURNAL LOCUS: Penelitian dan Pengabdian
Publisher : Riviera Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58344/locus.v4i11.4553

Penelitian ini bertujuan untuk menganalisis pengaruh penerapan Enterprise Resource Planning (ERP) dan Good Corporate Governance (GCG) terhadap Firm Performance dengan Business Model Innovation (BMI) sebagai variabel intervening. Penelitian dilakukan pada perusahaan Badan Usaha Milik Negara (BUMN) dengan menggunakan pendekatan kuantitatif. Sampel penelitian terdiri dari 166 perusahaan BUMN dan anak perusahaan yang dipilih menggunakan rumus Slovin dari populasi sebanyak 290 perusahaan. Data dikumpulkan melalui kuesioner yang disebarkan kepada responden yang relevan, kemudian dianalisis menggunakan metode Structural Equation Modeling-Partial Least Squares (SEM-PLS). Hasil penelitian menunjukkan bahwa ERP memiliki pengaruh positif dan signifikan terhadap Firm Performance, baik secara langsung maupun melalui Business Model Innovation dengan nilai p<0,05 untuk seluruh jalur yang diuji. Demikian pula, GCG berpengaruh signifikan terhadap Firm Performance baik secara langsung maupun melalui Business Model Innovation dengan nilai p<0,05. Secara spesifik, ERP menunjukkan effect size besar terhadap Firm Performance (f²=1,012), sedangkan GCG memiliki effect size moderat terhadap BMI (f²=0,304) dan Firm Performance (f²=0,295). Maka Business Model Innovation terbukti menjadi variabel intervening yang memperkuat hubungan antara ERP dan GCG terhadap Firm Performance meskipun dengan kontribusi yang relatif kecil (f²=0,071). Hasil penelitian ini menegaskan bahwa pentingnya penerapan ERP dan GCG terhadap Firm Performance, baik melalui Business Model Innovation ataupun secara langsung. Studi ini memberikan kontribusi pada literatur manajemen perusahaan, serta menawarkan implikasi praktis bagi pemangku kepentingan untuk terus meningkatkan implementasi ERP guna meningkatkan efisiensi operasional dan mendukung inovasi model bisnis. Penerapan prinsip-prinsip GCG yang baik juga perlu diperkuat untuk memastikan transparansi, akuntabilitas, dan efektivitas pengambilan keputusan yang berkontribusi langsung pada peningkatan kinerja perusahaan.

Pengaruh Keberagaman Dewan terhadap Nilai Perusahaan melalui Kinerja ESG Nadifah, Rifda; Dahlan, Muhammad; Handoyo, Sofik
Jurnal Akuntansi, Keuangan, dan Manajemen Vol 6 No 4 (2025): September
Publisher : Penerbit Goodwood

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/jakman.v6i4.4245

Purpose: This study examines the effect of board characteristics—gender diversity, cultural background, expertise, and experience—on firm value, with Environmental, Social, and Governance (ESG) performance serving as an intervening variable. The research focuses on publicly listed companies across five European Union countries: Germany, France, Italy, Spain, and the Netherlands. Methodology/Approach: A quantitative approach was applied using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS. The sample was drawn through purposive sampling, targeting firms that disclosed ESG scores and provided comprehensive data on board composition. Results/Findings: The findings indicate that only gender diversity within boards has a significant and positive effect on ESG performance. Other characteristics—cultural background, expertise, and experience—did not show significant impacts. Additionally, ESG performance itself was not found to have a significant influence on firm value. Similarly, board characteristics did not directly affect firm value in this study. Conclusions: The results suggest that while gender diversity may strengthen ESG-related outcomes, this does not necessarily translate into higher firm value within the observed context. This highlights a gap between ESG initiatives and tangible financial performance. The findings underscore the importance of effective governance practices that integrate ESG into broader corporate strategies rather than relying solely on board diversity. Limitations: This study is limited to five EU countries and a single observation period, restricting the generalizability of the results. Contribution: The study contributes to corporate governance literature by clarifying which board attributes improve ESG performance under EU gender quota regulations and offering insight into why diversity alone may not directly increase firm value.

The Effect of Environmental Uncertainty on Managerial Performance with Management Accounting Information Systems as an Intervening Variable (in the Indonesian State-Owned Defense Industry Sector) Dwiky Alfarisy, Ardiansyah; Rahman, Syaiful; Handoyo, Sofik
Jurnal Locus Penelitian dan Pengabdian Vol. 5 No. 4 (2026): JURNAL LOCUS: Penelitian dan Pengabdian
Publisher : Riviera Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58344/locus.v5i4.5647

The study aims to analyze the effect of environmental uncertainty on managerial performance, with management accounting information systems (MAIS) as an intervening variable in Indonesian defense industry state-owned enterprises. A quantitative explanatory survey method was employed, using questionnaires distributed to managers, with the data analyzed through path analysis to test direct and indirect effects among environmental uncertainty, MAIS, and managerial performance. The results show that environmental uncertainty has a weak and statistically insignificant direct effect on managerial performance, while MAIS also has a weak and insignificant direct effect on managerial performance (path coefficients below 0.20 and significance levels above 0.05). In addition, environmental uncertainty does not significantly influence managerial performance through MAIS as an intervening variable, indicating that MAIS does not mediate the relationship between environmental uncertainty and managerial performance in this context. These findings suggest that other organizational and managerial factors, beyond environmental uncertainty and MAIS, may play a more dominant role in shaping managerial performance in Indonesian defense industry state-owned enterprises.

The Impact of Corporate Sustainability Initiatives and Public Governance on Corporate Carbon Performance: A Case Study of Companies in ASEAN Countries Pana Sabila; Sofik Handoyo; Gia Kardina Prima Amrania
Eduvest - Journal of Universal Studies Vol. 6 No. 3 (2026): Eduvest - Journal of Universal Studies
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/eduvest.v6i3.52599

This study examines the impact of Corporate Sustainability Initiatives (CSI) and Public Governance on corporate carbon performance in ASEAN countries. The research focuses on internal sustainability initiatives represented by green innovation and resource efficiency, as well as external governance factors measured by regulatory quality and government effectiveness. Using a quantitative approach, this study analyzes companies operating in the energy, materials, and industrial sectors across Indonesia, Malaysia, Singapore, Thailand, and the Philippines. Secondary data were obtained from Refinitiv Eikon and the Worldwide Governance Indicators, and the relationships among variables were tested using Structural Equation Modeling with Partial Least Squares (SEM-PLS). The findings indicate that resource efficiency has a positive and significant effect on corporate carbon performance, highlighting the importance of operational efficiency in reducing carbon emissions. In contrast, green innovation does not show a significant effect, suggesting that green innovation in ASEAN firms tends to be symbolic rather than transformational. Furthermore, government effectiveness demonstrates a significant negative relationship with carbon intensity, implying that more effective governance is associated with better carbon performance. Regulatory quality, however, does not show a significant effect. Firm size positively affects carbon performance, while leverage shows no significant effect. Overall, the results emphasize that improving corporate carbon performance in ASEAN requires a combination of substantive internal sustainability initiatives and effective public governance. This study contributes to the sustainability and governance literature by providing empirical evidence from a developing regional context and offers practical insights policymakers and corporate managers in designing effective strategies to achieve carbon reduction goals.

A bibliometric study on sustainable business practices and firm performance in global research Silmy Auliya Zahra; Sofik Handoyo; Gia Kardina Prima Amrania
Jurnal Akademi Akuntansi Vol. 9 No. 3 (2026): Jurnal Akademi Akuntansi (JAA)
Publisher : Universitas Muhammadiyah Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22219/jaa.v9i3.44959

Purpose: This study examines how the field has developed, how its intellectual structure is organized, and how major themes such as corporate social responsibility, ESG disclosure, green innovation, sustainability reporting, and environmental performance have evolved. Methodology/approach: Using a Scopus-indexed corpus of 2,546 articles and applies performance analysis & science mapping through the bibliometrix workflow in R. Findings: The results indicate that publication output has increased substantially, particularly in the most recent decade, while citation patterns remain shaped by foundational studies in corporate social responsibility and financial performance. The conceptual structure shows a transition from broad responsibility-based themes toward more measurable, governance-oriented, and innovation-driven sustainability research. Corporate social responsibility and firm, whereas green innovation, environmental performance, and sustainable development represent more developed motor themes. Practical and Theoritical contribution/Originality: Integrating fragmented research streams and identifying future opportunities related to disclosure quality, assurance, materiality, greenwashing, and the mechanisms through which sustainability practices influence firm value. Research Limitation: It relies on Scopus-indexed documents only, depend on selected search terms, bibliometric results are affected by citation-related biases, and maps the structure of literature but doesn’t assess the methodological quality of individual empirical studies.

Pengaruh Keberagaman Dewan terhadap Nilai Perusahaan melalui Kinerja ESG Rifda Nadifah; Muhammad Dahlan; Sofik Handoyo
Jurnal Akuntansi, Keuangan, dan Manajemen Vol 6 No 4 (2025): September
Publisher : Penerbit Goodwood

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/jakman.v6i4.4245

Purpose: This study examines the effect of board characteristics—gender diversity, cultural background, expertise, and experience—on firm value, with Environmental, Social, and Governance (ESG) performance serving as an intervening variable. The research focuses on publicly listed companies across five European Union countries: Germany, France, Italy, Spain, and the Netherlands. Methodology/Approach: A quantitative approach was applied using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS. The sample was drawn through purposive sampling, targeting firms that disclosed ESG scores and provided comprehensive data on board composition. Results/Findings: The findings indicate that only gender diversity within boards has a significant and positive effect on ESG performance. Other characteristics—cultural background, expertise, and experience—did not show significant impacts. Additionally, ESG performance itself was not found to have a significant influence on firm value. Similarly, board characteristics did not directly affect firm value in this study. Conclusions: The results suggest that while gender diversity may strengthen ESG-related outcomes, this does not necessarily translate into higher firm value within the observed context. This highlights a gap between ESG initiatives and tangible financial performance. The findings underscore the importance of effective governance practices that integrate ESG into broader corporate strategies rather than relying solely on board diversity. Limitations: This study is limited to five EU countries and a single observation period, restricting the generalizability of the results. Contribution: The study contributes to corporate governance literature by clarifying which board attributes improve ESG performance under EU gender quota regulations and offering insight into why diversity alone may not directly increase firm value.

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