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All Journal Equator Journal of Management and Entrepreneurship Journal of Economics, Business, & Accountancy Ventura
wijaya, dwi nova
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Economics, Econometrics & Finance Social Sciences

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PENGARUH SUKU BUNGA, NILAI TUKAR, PERTUMBUHAN EKONOMI, KINERJA KEUANGAN, KEPUTUSAN PENDANAAN, DAN KEPUTUSAN INVESTASI TERHADAP NILAI PERUSAHAAN wijaya, dwi nova
Equator Journal of Management and Entrepreneurship (EJME) Vol 9, No 1 (2021): Equator Journal of Management and Entrepreneurship
Publisher : Universitas Tanjungpura

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26418/ejme.v9i1.45929

Abstract

Value of the firm illustrates how well or not management manages its wealth. The firm's high value can increase prosperity for shareholders, so it can influence investor perception of the company. Every company is required to be able to process the important functions that exist in the company effectively and efficiently so that the company can be superior. Value of the firm can be influenced by macro-economic conditions in a country and micro-economics in industrial sectors. This study aims to test macro-economic factors, namely, the influence of interest rates, exchange rates, economic growth and micro-economics, namely financial performance, funding decisions and investment decisions on the value of the firm. The population of this research is 100 companies at Kompas 100 listed on the Indonesia Stock Exchange in 2015 – 2019. Samples of this study as many as 51 companies were selected based on purposive sampling techniques. The data analysis method used is multiple linear regression analysis. The results showed that there is a negative and insignificant influence of interest rates, economic growth on the value of the firm. Exchange rates and investment decisions have a positive and insignificant effect on the value of the firm. Financial performance has a positive and significant effect on the value of the firm. Financial decisions have a negative and significant effect on the value of the company.
When Celebrity CEOs Undermine Sustainability Value: Evidence from Indonesian Firms Wijaya, Dwi Nova; Wendy, Wendy; Malini, Helma
Journal of Economics, Business, and Accountancy Ventura Vol. 27 No. 2 (2024): August - November 2024
Publisher : Universitas Hayam Wuruk Perbanas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14414/jebav.v27i2.4302

Abstract

This research investigates the moderating effect of celebrity CEOs on the relationship between corporate sustainability and firm value. A quantitative approach was utilized, analyzing data from 51 companies listed on the Indonesia Stock Exchange from 2014 to 2021 using regression analysis. While prior studies have explored the individual effects of either celebrity CEOs or corporate sustainability on firm value, this study addresses a gap by examining the interaction between these factors and its impact on firm value. The results reveal that although both the presence of a celebrity CEO and the implementation of corporate sustainability initiatives can enhance firm value, they do not necessarily create a beneficial synergy. In fact, the presence of a celebrity CEO may diminish the positive effects of corporate sustainability on firm value. These findings provide empirical evidence suggesting that companies should carefully assess the alignment between a CEO’s characteristics and the firm’s sustainability strategies to optimize value creation. The study underscores the importance of selecting a CEO whose attributes align with the company’s long-term sustainability objectives. These insights have practical implications for corporate management in making strategic decisions regarding CEO appointments and the execution of sustainability initiatives.
When Celebrity CEOs Undermine Sustainability Value: Evidence from Indonesian Firms Wijaya, Dwi Nova; Wendy, Wendy; Malini, Helma
Journal of Economics, Business, and Accountancy Ventura Vol. 27 No. 2 (2024): August - November 2024
Publisher : Universitas Hayam Wuruk Perbanas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14414/jebav.v27i2.4302

Abstract

This research investigates the moderating effect of celebrity CEOs on the relationship between corporate sustainability and firm value. A quantitative approach was utilized, analyzing data from 51 companies listed on the Indonesia Stock Exchange from 2014 to 2021 using regression analysis. While prior studies have explored the individual effects of either celebrity CEOs or corporate sustainability on firm value, this study addresses a gap by examining the interaction between these factors and its impact on firm value. The results reveal that although both the presence of a celebrity CEO and the implementation of corporate sustainability initiatives can enhance firm value, they do not necessarily create a beneficial synergy. In fact, the presence of a celebrity CEO may diminish the positive effects of corporate sustainability on firm value. These findings provide empirical evidence suggesting that companies should carefully assess the alignment between a CEO’s characteristics and the firm’s sustainability strategies to optimize value creation. The study underscores the importance of selecting a CEO whose attributes align with the company’s long-term sustainability objectives. These insights have practical implications for corporate management in making strategic decisions regarding CEO appointments and the execution of sustainability initiatives.
Co-Authors Helma Malini, Helma Wendy