Article Per Year (5 Year)
p-Index From 2020 - 2025
4.151
P-Index
This Author published in this journals
All Journal Maksimum : Media Akuntansi Universitas Muhammadiyah Semarang Journal of Economic, Bussines and Accounting (COSTING) EBSJ J-MAS (Jurnal Manajemen dan Sains) International Journal of Economics, Business and Accounting Research (IJEBAR) Budimas : Jurnal Pengabdian Masyarakat Airlangga Journal of Innovation Management Jurnal Ekonomi dan Bisnis Digital (MINISTAL) East Asian Journal of Multidisciplinary Research (EAJMR) Formosa Journal of Multidisciplinary Research (FJMR) Journal of Finance and Business Digital (JFBD) Asian Journal of Management Analytics Prosiding University Research Colloquium Jurnal Ilmiah MEA (Manajemen, Ekonomi, dan Akuntansi) International Journal of Business and Applied Economics (IJBAE) Jurnal Manajemen Bisnis, Akuntansi dan Keuangan Capacitarea : Jurnal Pengabdian Kepada Masyarakat Fokus Bisnis: Media Pengkajian Manajemen dan Akuntansi Ektasi : Jurnal Ekonomi, Akutansi dan Organisasi JURNAL MANAJEMEN DAN BISNIS INDONESIA
Rahmawati, Ika Yustina
Unknown Affiliation
Religion Humanities Civil Engineering, Building, Construction & Architecture Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Environmental Science Industrial & Manufacturing Engineering Law, Crime, Criminology & Criminal Justice Medicine & Pharmacology Social Sciences Other

Published : 34 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 2 Documents
Search
Journal : Maksimum : Media Akuntansi Universitas Muhammadiyah Semarang

 1 
The Link Effect of ESG Score, Stock Price Volatility, and Tax Payment: Doing Well while Doing Good Hartikasari, Annisa Ilma; Wahyuni, Sri; Rahmawati, Ika Yustina; Utami, Restu Frida
MAKSIMUM: Media Akuntansi Universitas Muhammadiyah Semarang Vol 14, No 2 (2024): MAKSIMUM: Media Akuntansi Universitas Muhammadiyah Semarang
Publisher : Universitas Muhammadiyah Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26714/mki.14.2.2024.231-242

Abstract

This study aims to identify how environmental, social and governance (ESG) performance influences stock price volatility, explicitly focusing on the moderating role of tax engagement. ESG performance is measured by an ESG Score calculated from the weighting of three dimensions: environmental, social and governance. Stock price volatility is measured by the degree of price variations over 12 months based on the last 52 weeks’ prices. A sample of Indonesia-listed firms is used, with 770 observations from 2023. The results show that the ESG Score negatively impacts stock price volatility, which is more significant in the social dimension than in the environmental and governance dimensions. In addition, the tax payment variable moderates the relationship and increases the effect of the ESG Score on stock price volatility. These findings suggest that ESG practices and tax transparency are ethical elements and critical components for financial stability, promoting the high-quality development of listed firms. This study is significant for firms, regulators, policymakers and investors. Overall, it underrates the importance of firms adopting ESG activities and engaging in tax management to mitigate risks and maintain viability in the contemporary business environment. This study provides new empirical evidence regarding the factors driving corporate stock price volatility. In addition, it offers pertinent policy recommendations for businesses and governments regarding the significance of ESG investments.
Environmental, Social and Governance (ESG) and Corporate Financial Performance: Moderating Effects of Financial Slack Inayati, Nur Isna; Rahmawati, Ika Yustina; Pandansari, Tiara; Hapsari, Ira; Ramadhani, Alfina Nur
MAKSIMUM: Media Akuntansi Universitas Muhammadiyah Semarang Vol 15, No 1 (2025): MAKSIMUM: Media Akuntansi Universitas Muhammadiyah Semarang
Publisher : Universitas Muhammadiyah Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26714/mki.15.1.2025.110-120

Abstract

This study explores the impact of ESG (environmental, social, governance) on company financial performance, particularly in manufacturing companies. In addition, this research also seeks to analyze whether high financial slack can strengthen the relationship between ESG, both collectively and separately, and the company's Return on Assets (ROA). The population focused on this study consists of 635 manufacturing companies operating in Indonesia, with a sample of 446 companies listed on the Indonesia Stock Exchange (IDX). The data used comes from annual and sustainability reports from 2018 to 2022. To analyze the data, this study employs linear regression analysis, including calculating coefficients, p-values, and R-squared. The study results show that the environmental, social, and governance variables do not have a significant relationship with the company's ROA, indicating that although ESG is considered important, its implementation in practice may not yet provide the expected impact on financial performance. Additionally, high financial slack was found not to strengthen the relationship between ESG and ROA, suggesting that more significant financial resources do not always guarantee improved sustainable performance. The implications of this study highlight the importance of companies effectively managing ESG aspects and financial resources to achieve sustainability. These findings also provide theoretical insights into the role of financial slack in the relationship between ESG and financial performance, emphasizing that companies need to be more proactive in integrating sustainability practices into their business strategies. 
Co-Authors Afiani, Mirza Zulmi Afriandika, Ivan Riski Akhmad Darmawan Alfalisyado Alfalisyado, Alfalisyado Almubarokah, Nudia Bakah Arini Hidayah, Arini Arman, Faris Meirizki Asih, Faisyah Yuli Azafii, Azka Saputra Bagis, Fatmah Dwi Yunita, Dwi Ernawati, Yuniar Erny Rachmawati Firliyani, Indah Fitriati, Azmi Gemasari, Agustin Putriyana Haliza, Vivi Dwi Hapsari, Ira Hartikasari, Annisa Ilma Haryanto, Totok Hengky Widhiandono Hermin Endratno Inayati, Nur Isna Islami, Adelia Wahyu Kharismasyah, Alfato Yusnar Lestari, Rahma Dwi Maulida Nurul Innayah Miftahuddin, Muchammad Agung Mudjiyanti, Rina Naelati Tubastuvi Nurjanah, Anis Rofika Pandansari, Tiara Pramurindra, Rezky Pratama, Andika Canggah Pratamasari, Mega Aprillia Rabbani, Agum Akbar Rahmawati, Meyssy Trisa Ramadhani, Alfina Nur Restu Frida Utami Rohmah, Aulia Nur Sagita, Ira Setiawan, Dana Eka Siska Liana Sri Wahyuni Suyoto Suyoto Wahyu, Rizky Ananda Wahyuningsih, Septia Tri Wida Purwidianti Widyaningtyas, Dian Zakaria, Yoga Zain