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The Moderating Role of Board Characteristics in the Relationship Between Firm Factors and ESG Performance in Indonesia Kurnia, Juan; Kusmayadi, Iwan
International Journal of Economics Development Research (IJEDR) Vol. 6 No. 6 (2025): International Journal of Economics Development Research (IJEDR)
Publisher : Yayasan Riset dan Pengembangan Intelektual

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37385/ijedr.v6i6.9553

Abstract

This study aims to analyze the influence of firm-specific characteristics namely firm size, firm age, profitability (ROA), and leverage (DAR)on Environmental, Social, and Governance (ESG) performance, with the Board Size of Commissioners (BSC) and Board Independence of Commissioners (BIC) as moderating variables. The research employs a quantitative causal approach using secondary data from 78 non-financial companies listed on the Indonesia Stock Exchange during 2019–2023, generating 390 firm-year observations. Data were analyzed using multiple linear regression with the Moderated Regression Analysis (MRA) method through SPSS 26. The results indicate that firm age positively and significantly affects ESG performance, while profitability (ROA) has a significant negative influence. Firm size and leverage show no significant effects. Furthermore, BSC strengthens the relationship between firm size and profitability with ESG, whereas BIC enhances the link between profitability and ESG performance. These findings highlight the critical role of corporate governance mechanisms in aligning financial objectives with sustainability goals, providing valuable insights for companies and policymakers to improve ESG governance practices in Indonesia.
The Influence of Profitability, Capital Structure, and Company Size on Dividend Policy Moderated by the Independent Board of Commissioners Affandi, Aryo Juliansyah; Kusmayadi, Iwan
Indonesian Journal of Advanced Research Vol. 4 No. 11 (2025): November 2025
Publisher : PT FORMOSA CENDEKIA GLOBAL

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55927/ijar.v4i11.15725

Abstract

This study aims to examine the influence of profitability, capital structure, and company size on dividend policy, considering the role of independent board of commissioners as a moderation variable. The object of the study is focused on manufacturing companies listed on the Indonesia Stock Exchange for the 2020–2024 period. The approach used is quantitative with the Moderated Regression Analysis (MRA) analysis method, based on 380 observational data from 76 selected companies using purposive sampling techniques. The findings of the study show that profitability has a significant negative impact on dividend policy, but the capital structure does not show a significant influence. On the other hand, the size of the company has a positive and significant effect. The independent board of commissioners does not moderate the influence of profitability or capital structure, but acts as a negative moderator in the relationship between company size and dividend policy.
Empirical Evidence of Banking Risk Management in Indonesia Nabila, Nabila; Kusmayadi, Iwan
Indonesian Journal of Advanced Research Vol. 4 No. 11 (2025): November 2025
Publisher : PT FORMOSA CENDEKIA GLOBAL

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55927/ijar.v4i11.15737

Abstract

This study aims to analyze the differences in banking risk in Indonesia before and after the implementation of POJK No. 18/POJK.03/2016 concerning Risk Management for Commercial Banks. This study contributes to society and the banking world by increasing understanding of the importance of implementing risk management in maintaining the stability of the national financial system. The present research employs a comparative quantitative approach to analyze the differences in banking risk before and after the implementation of the POJK. Data collection was conducted utilizing secondary data obtained from bank financial reports and official OJK publications during the period 2009–2024. The findings of the research indicate significant differences in the NPL, BOPO, and NIM variables, while the LDR ratio does not show a significant difference with a significance level above 0.05. These findings provide a new perspective on the effectiveness of risk management regulatory policies in Indonesia.