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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.
PENGEMBANGAN KOMPETENSI DAN ORIENTASI KEWIRAUSAHAAN DALAM MENINGKATKAN KEUNGGULAN BERSAING UMKM DI DESA ANCARAN KECAMATAN KUNINGAN Masruroh, Rina; Maulana, Yasir; Komarudin, Munir Nur
JURNAL PENGABDIAN KEPADA MASYARAKAT (ADI DHARMA) Vol 3 No 2 (2025): JURNAL PENGABDIAN KEPADA MASYARAKAT (ADI DHARMA)
Publisher : ABISATYA DINAMIKA ISWARA PUBLISHING

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58268/adidharma.v3i2.145

Abstract

This community service program aimed to enhance the entrepreneurial competence and orientation of Micro, Small, and Medium Enterprises (MSMEs) in strengthening their competitive advantage in Ancaran Village, Kuningan District. The primary issues faced by local MSMEs included a limited understanding of structured business planning, low utilization of digital marketing, and a lack of awareness regarding business legality. Through a participatory approach and practice-based training methods, participants were equipped with knowledge and skills related to the preparation of the Business Model Canvas (BMC), digital marketing strategies, and legal aspects of business operations. Evaluation was conducted using pre-tests and post-tests to assess the improvement in participants' understanding. The results showed a significant increase in knowledge and skills, with the average post-test scores rising by 34.9 points compared to the pre-test. These findings indicated that the program contributed positively to improving the readiness of MSMEs to compete more professionally and sustainably. The program also fostered collective awareness of the importance of innovation, digitalization, and legality as fundamental pillars of MSME competitiveness at the local level.