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All Journal Jurnal Akuntansi dan Pajak Indonesian Journal of Strategic Management Indonesian Journal Of Business And Economics International Journal of Economics, Business and Accounting Research (IJEBAR) Jurnal Ekonomi Bisnis, Manajemen dan Akuntansi (JEBMA) Indonesian Collaboration Journal of Community Services (ICJCS) Jurnal Manajemen dan Kewirausahaan JURNAL ABDIMAS PLJ E-Prosiding Seminar Nasional Manajemen dan Akuntansi STIE Semarang (SENMAS)
Komarudin, Munir Nur
Indonesian Journal of Strategic Management
Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Environmental Science Languange, Linguistic, Communication & Media Social Sciences Other

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THE INFLUENCE OF FINANCIAL PERFORMANCE ON RETURNS WITH ESG AS AN INTERVENING VARIABLE Iqbal Arraniri; Yasir Maulana; Munir Nur Komarudin; Wely Hadi Gunawan
International Journal of Economics, Business and Accounting Research (IJEBAR) Vol 8, No 2 (2024): IJEBAR, VOL. 08 ISSUE 02, JUNE 2024
Publisher : LPPM ITB AAS INDONESIA (d.h STIE AAS Surakarta)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29040/ijebar.v8i2.13192

Abstract

The purpose of this study is to examine the effect of financial performance on stock returns by considering sustainability as an intermediate variable. This study uses Structural Equation Model analysis to assess the relationship between ROI, PER, PBV, and OPM variables as a representation of economic fundamentals, ESG variables as a representation of sustainability, and the relationship between Stock Return. The data used in this study are secondary data in the form of financial reports and accountability reports of public companies. The research sample consists of companies that meet the criteria set out in this study. The results of SEM analysis show that there is a significant direct influence between financial performance (ROI, PER, PBV, and OPM) and stock eturns and there is a significant direct influence between ROI, PER, PBV, and OPM and sustainability (ESG). In addition, this study also found that ESG acts as a mediator between economic fundamentals (ROI, PER, PBV, and OPM) and stock returns. The results of this study have important implications for understanding the relationship between economic fundamentals, sustainability and stock performance. This study provides empirical evidence that companies with good financial performance tend to adopt better sustainability practices, which in turn can affect stock returns. Business stakeholders, regulators and investors can use this impact to make more informed and sustainable decisions.
Co-Authors Anidathi Layla Arief Surya Lesmana Ayus Ahmad Yusuf Cindy Shelomita Dadang Suhardi Dadang Suhendar Deri Prayudi Empat Fatimah Fany Oktaviani Harjadi, Dikdik Herma Wiharno Indra Lesmana Iqbal Arraniri Lili Karmela Fitriani Nugraha . Nugraha Nugraha Pasha, Riska Ayu Regita Ayu Febiana Rina Masruroh Taopik Mulyana Kuntara Wachjuni Wely Hadi Gunawan Wildan Permana Zaenal Asikin Yasir Maulana