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All Journal Journal of Central Banking Law and Institutions International Journal of Social, Economic, and Business
ACHMAD KAUTSAR
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Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice Social Sciences

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ANALYSING THE EFFECT OF CORPORATE ENVIRONMENTAL PERFORMANCE ON CORPORATE FINANCIAL PERFORMANCE: DOES A NONLINEAR RELATIONSHIP OCCUR? Septiavin, Qori'atul; Feriansyah; Rico Ricardo; Achmad Kautsar; Eka Puspitawati; Syifa Salsabila
Journal of Central Banking Law and Institutions Vol. 2 No. 3 (2023)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jcli.v2i3.174

Abstract

Climate change as a part of environmental degradation has become a topic widely discussed in recent decades. This study analyses the relationship between corporate environmental performance and corporate financial performance by studying cases at the company level. The company level was chosen to focus the research since companies are the main actors in economic activity as producers of both goods and services. The method used is unbalanced panel data regression with the Random Effects Model with a sample of 175 firms from 2003 to 2021 in 20 countries. This research also captures the influence of the COVID-19 pandemic. Empirical results show that there is no nonlinear relationship between corporate environmental performance and corporate financial performance with the Lind-Mehlum test. It indicates that there is a trade-off between profit and the environment. As such, the effort of businesses to drive investors from the profit-oriented to become green-oriented needs significant effort. A key policy priority should therefore be the long-term reinforcement of businesses in green activities.
Leverage, Profitability and Firm Size on Dividend Policy: Liquidity as a Moderating Variable in Indonesian Healthcare Sector Companies Luthfiyyah Nur Rasyidah; Achmad Kautsar
International Journal of Social, Economic, and Business Vol. 1 No. 2 (2024): December 2024
Publisher : Lavish Opulent Education

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.1512/mg24rh42

Abstract

This research aims to determine the effect of leverage, profitability, and firm size on dividend policy with liquidity as a moderating variable in healthcare sector companies listed on the Indonesia Stock Exchange (BEI) in 2018-2022. This type of research is quantitative research with secondary data sources. The sample in this research was 10 companies from the healthcare sector listed on the Indonesia Stock Exchange (BEI) in 2018-2022. The analysis technique used in this research is Moderated Regression Analysis (MRA) using SPSS 25. The results of this research show that leverage and profitability do not have a significant effect on dividend policy. Firm size has a significant positive effect on dividend policy. Liquidity can weaken the influence of leverage on dividend policy. Liquidity is unable to moderate the influence of profitability on dividend policy. Therefore, the factor that healthcare sector companies need to pay attention to before determining their dividend policy is company size. Large companies need to manage their assets well so that their financial performance will improve. It means that the company is able to obtain large amounts of cash from their assets so that free cash flow increases and they are able to distribute dividends. Furthermore, the company must be able to manage the use of debt and its current assets optimally so that the company's finances will keep stable than they can fulfill its obligations well, including distributing the dividends.
Co-Authors Eka Puspitawati Feriansyah Luthfiyyah Nur Rasyidah Rico Ricardo Septiavin, Qori'atul SYIFA SALSABILA