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How Environmental, Social, and Governance Reporting Drives Innovation Capability and Firm Value in Indonesia Rizka Hadya; Syukri Lukman; Masyhuri Hamidi; Rahmat Febrianto; Irdha Yusra
Jurnal Manajemen Universitas Bung Hatta Vol. 21 No. 2 (2026): Jurnal Manajemen Universitas Bung Hatta
Publisher : Management Department, Faculty of Economics and Business, Universitas Bung Hatta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37301/jmubh.v21i2.30010

Abstract

This research extends the resource-based explanation of firm value by analyzing innovation capability as both a key driver of Tobin's Q and as an effect of environmental, social, and governance (ESG) disclosures. Using panel data from 82 listed firms on the Indonesia Stock Exchange over a decade (820 observations), we employed fixed-effects regression based on Chow and Hausman tests. The analysis proceeded in two stages: first, examining how the three ESG disclosure pillars influence innovation capability, and second, how innovation capability impacts firm value, controlling for size, age, leverage, and board size. The findings reveal that only social disclosure significantly enhances innovation capability, while environmental and governance disclosures do not show notable effects. Moreover, increased innovation capability leads to a substantial and significant improvement in firm value. While firm size and board size positively affect value, firm age has a negative impact. The evidence points to an asymmetry: whereas social disclosure supports capability-building, innovation capability itself is a strong channel through which market value is realized, and this mechanism in Indonesia relies mainly on the social aspect of ESG, rather than environmental or governance disclosure volume. This work refines the resource-based perspective for developing economies and offers targeted insights for business leaders and policymakers about which ESG areas most effectively foster strategic advantage.
HOUSEHOLD AND BUSINESS FINANCIAL MANAGEMENT TRAINING FOR FISHING COMMUNITIES Teti Chandrayanti; Novi yanti; Danyl Mallisza; Rice haryati; Delvianti, Delvianti; Salfadri, Salfadri; Yulia Syafitri; Rizka Hadya; Yulistia, Yulistia; Yuli Ardiany; Rina Asmeri; Andre Bustari
Journal of Community Service Vol 8 No 1 (2026): JCS, June 2026
Publisher : Ikatan Dosen Menulis

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56670/jcs.v8i1.447

Abstract

Fishing communities frequently face financial instability caused by fluctuating income cycles that are highly dependent on natural conditions and fishing seasons. The core problem is not the absence of income, but the lack of understanding and skill in managing cash flow, the absence of separation between business capital and household finances, and heavy reliance on informal moneylenders during the off-season (masa paceklik). This Community Service Program (PKM) aimed to provide practical financial-management education and training for the Balik Saiyo Fishing Group in Kelurahan Teluk Kabung Tengah, Bungus Teluk Kabung, Padang City. The activity involved 40 participants, consisting of 15 lecturers as facilitators and 25 members of the fishing community and coastal families as the main target group. The method combined interactive socialization, training in simple daily cash recording, and the introduction of an income-allocation pattern together with an emergency-fund strategy. Program success was assessed qualitatively through facilitator observation and participant feedback during practice and discussion sessions. The results show an improved understanding among participants in separating working capital from consumption needs, in applying a 40%-30%-20%-10% cash-allocation scheme, and in building the habit of saving to face the off-season.