Garuda - Garba Rujukan Digital

Environmental, Social, and Governance Risk on Firm Performance: The Mediating Role of Firm Risk Wildan Yudhanto; Alex Johanes Simamora
Binus Business Review Vol. 14 No. 2 (2023): Binus Business Review
Publisher : Bina Nusantara University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21512/bbr.v14i2.8935

Business sustainability can be improved by achieving Environmental, Social, and Governance (ESG) aspects. The research aimed to examine the effect of ESG risk on firm risk and performance, the effect of firm risk on performance, and the mediating role of firm risk between ESG risk and performance. The research sample included 150 firms listed on the Indonesia ESG Leaders Index in Indonesian Stock Exchange in 2020-2022. The research measured ESG risk by the value of ESG risk, firm risk by stock return volatility, and performance by Return on Asset (ROA) and Tobin’s Q. Data analysis applied path analysis. Based on data analysis, lower ESG risk reduces firm risk and increases performance. Moreover, lower firm risk increases performance, and lower ESG risk increases performance through firm risk reduction. The result indicates that lower ESG risk captures the ability of ESG implementation to reduce the risk of economic value and give benefit to reducing costs of conflict, uncertainty, and bad reputation risk. Furthermore, lower ESG risk improves performance by helping firms to promote higher revenue and cost efficiency. In additional analysis, the effect of lower ESG risk on firm risk reduction and performance improvement occurs more for firms in the environmentally sensitive industry. The results show that industry sensitivity strengthens the positive effect of ESG risk on firm risk and the negative effect of ESG risk on performance. The research contributes to giving new evidence of ESG risk on firm risk and performance in Indonesia since ESG risk assessment is a new evaluation on the Indonesian Stock Exchange.

Katalog Digital Multibahasa Sebagai Alat Promosi UMKM dan Desa Wisata Bahasa di Kelurahan Potrobangsan Kota Magelang Simamora, Alex Johanes; Prasetyo, Andreas Yogi; Yudhanto, Wildan; Maulana, Muhamad Aji
Jurdimas (Jurnal Pengabdian Kepada Masyarakat) Royal Vol 8, No 1 (2025): Januari 2025
Publisher : STMIK Royal

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33330/jurdimas.v8i1.3511

MSME players in Potrobangsan Village face obstacles in communicating with foreign consumers, especially in the use of foreign languages. To overcome this problem, a multilingual digital catalog has been developed that contains descriptions of MSME products in several languages. This catalog aims to facilitate communication between MSME actors and inter-national consumers, as well as increase the visibility and competitiveness of MSMEs in the global market. In addition, this digital catalog is also expected to contribute to the preservation of regional languages, such as Javanese, which are becoming endangered. The methods used include a preparatory stage in the form of field analysis, then a needs analysis stage, and continued with the stage of making a multi-language online catalog. The catalog development process involved training for MSME players, creating attractive and relevant product descriptions, and developing an online catalog platform. As a result, this catalog has succeeded in increasing sales and expanding the market reach of MSMEs in Potrobangsan Village.Keywords: MSME; multilingual digital catalog; potrobangsan Abstrak: Pelaku UMKM di Desa Potrobangsan menghadapi kendala dalam berkomunikasi dengan konsumen mancanegara, terutama dalam penggunaan bahasa asing. Untuk mengatasi masalah ini, telah dikembangkan katalog digital multibahasa yang memuat deskripsi produk UMKM dalam beberapa bahasa. Katalog ini bertujuan untuk memfasilitasi komunikasi antara pelaku UMKM dengan konsumen internasional, serta meningkatkan visibilitas dan daya saing UMKM di pasar global. Selain itu, katalog digital ini juga diharapkan dapat berkontribusi pada pelestarian bahasa daerah, seperti Bahasa Jawa, yang mulai terancam punah. Metode yang digunakan antara lain tahap persiapan berupa analisis lapangan, kemudian tahap analisis kebutuhan, dan dilanjut dengan tahap pembuatan katalog online multibahasa. Proses pengembangan katalog melibatkan pelatihan bagi pelaku UMKM, pembuatan deskripsi produk yang menarik dan relevan, serta penyusunan platform katalog daring. Hasilnya, katalog ini telah berhasil meningkatkan penjualan dan memperluas jangkauan pasar UMKM di Desa Potrobangsan.Kata kunci: UMKM; katalog digital multibahasa; potrobangsan.

Tourism seasonality and tax compliance of hotel and accommodation sector in Magelang Regency, Indonesia: Mediating role of intention to comply Sunaningsih, Suci Nasehati; Nugraheni, Agustina Prativi; Simamora, Alex Johanes; Hartono, Budi; Sitoresmi, Mumpuni Wahyudiarti
Journal of Accounting and Investment Vol. 25 No. 3: September 2024
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jai.v25i3.22094

Research aims: This research examined the effect of hotel and accommodation performance during peak seasons on tax compliance, especially tourism seasonality-based financial performance, intention to comply, and tax compliance behavior. This research also examined the effect of tourism seasonality-based financial performance on tax compliance behavior through intention to comply.Design/Methodology/Approach: The research sample includes 48 owners and top managers of hotels and accommodations in Magelang Regency. Questionaries measure the variable. Data analysis used structural equation modeling, which included the inner model, outer model, and path analysis.Research findings: Based on data analysis, tourism seasonality affected tax compliance in the hotel and accommodation sector. The peak season of tourism brought more revenues and cash, so hotels and accommodations could pay the tax and comply with tax regulations. Intention to comply mediated the effect of tourism seasonality-based financial performance on tax compliance behavior.Theoretical contribution/Originality: This research provided new evidence of peak season on tax compliance. This research also extended the ability to pay theory of taxation based on tourism seasonality. This research also evaluated regulations of Local Regulation of Magelang Regency No. 13 2010 and Regulation of Head of Magelang Regency No. 44 2012 in tourism seasonality since no regulation regulates seasonal tax system based on tourism seasonality for hotels and accommodation.

Perceived Value and Intention to Revisit Nglanggeran Tourism Village, Special Region of Yogyakarta Islami, Fitrah Sari; Prasetyo, Andreas Yogi; Simamora, Alex Johanes
Journal La Bisecoman Vol. 5 No. 5 (2024): Journal La Bisecoman
Publisher : Newinera Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37899/journallabisecoman.v5i5.1635

This study aims to examine the perceived value of tourists on their intention to revisit Nglanggeran Tourism Village. Perceived value consists of emotional value, social value, value for money, and cultural value. The object of the study is Nglanggeran Tourism Village, and the subjects are 398 tourists who visited the village. The research variables were measured using a questionnaire on a 5-point Likert scale. Data analysis was conducted using path analysis through structural equation modeling. Based on the data analysis results, emotional value, social value, value for money, and cultural value all influence the intention to revisit Nglanggeran Tourism Village. These findings indicate that tourists' evaluations of the emotions experienced, their connection and bond with the local community, the adequacy of the tourism services relative to the money spent, and the meaningful cultural experiences create positive emotions for the tourists, thus fostering their intention to revisit Nglanggeran Tourism Village. This research contributes evidence, particularly regarding cultural value, in the context of Nglanggeran Tourism Village, enriching the explanation of attitude theory in the context of tourism villages.

How Does Entrepreneurial Competence Contribute to Livestock Farmers’ Performance? Sihite, Mikael; Jannah, Eka Nur; Simamora, Alex Johanes; Yudhanto, Wildan
Binus Business Review Vol. 16 No. 1 (2025): Binus Business Review
Publisher : Bina Nusantara University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21512/bbr.v16i1.11585

The research aimed to examine (1) the direct effect of entrepreneurial skill, market orientation, sales orientation, and networking on entrepreneurial competence; (2) the direct effect of entrepreneurial competence on livestock farmers’ performance; and (3) the indirect effect of entrepreneurial skill, market orientation, sales orientation, and networking on livestock farmers’ performance through entrepreneurial competence. Samples were 399 livestock farmers in Magelang Regency. The independent variables were entrepreneurial skills, market orientation, sales orientation, and networking. Meanwhile, the dependent variable was livestock farmers’ performance, and the mediating variable was entrepreneurial competence. Variable measurement used 7-Likert scale questionaries. Then, data analysis used Structural Equation Modeling (SEM). Based on data analysis, the research finds that entrepreneurial skill, market orientation, sales orientation, and networking improve entrepreneurial competence. In addition, entrepreneurial competence increases livestock farmers’ performance, Then, entrepreneurial skill, market orientation, sales orientation, and networking improve livestock farmers’ performance through entrepreneurial competence. The research contributes to giving new evidence of entrepreneurial competence in the context of animal husbandry. The research also contributes to capturing how the implementation of the Resources-Based View (RBV) concept affects the achievement of livestock farmers’ performance. The research has some implications. First, livestock farmers increase entrepreneurial competence by building entrepreneurial skills, market orientation, sales orientation, and networking to improve performance. Second, regulators can formulate regulations or programs that can help livestock farmers to grow their businesses since the business is run individually, such as human resource development or business establishment programs.

Tourism seasonality and tax compliance of hotel and accommodation sector in Magelang Regency, Indonesia: Mediating role of intention to comply Suci Nasehati Sunaningsih; Agustina Prativi Nugraheni; Alex Johanes Simamora; Budi Hartono; Mumpuni Wahyudiarti Sitoresmi
Journal of Accounting and Investment Vol. 25 No. 3: September 2024
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jai.v25i3.22094

Research aims: This research examined the effect of hotel and accommodation performance during peak seasons on tax compliance, especially tourism seasonality-based financial performance, intention to comply, and tax compliance behavior. This research also examined the effect of tourism seasonality-based financial performance on tax compliance behavior through intention to comply.Design/Methodology/Approach: The research sample includes 48 owners and top managers of hotels and accommodations in Magelang Regency. Questionaries measure the variable. Data analysis used structural equation modeling, which included the inner model, outer model, and path analysis.Research findings: Based on data analysis, tourism seasonality affected tax compliance in the hotel and accommodation sector. The peak season of tourism brought more revenues and cash, so hotels and accommodations could pay the tax and comply with tax regulations. Intention to comply mediated the effect of tourism seasonality-based financial performance on tax compliance behavior.Theoretical contribution/Originality: This research provided new evidence of peak season on tax compliance. This research also extended the ability to pay theory of taxation based on tourism seasonality. This research also evaluated regulations of Local Regulation of Magelang Regency No. 13 2010 and Regulation of Head of Magelang Regency No. 44 2012 in tourism seasonality since no regulation regulates seasonal tax system based on tourism seasonality for hotels and accommodation.

How risk oversight committees reduce banking risk: the amplifying role of digital innovation Ramdani , Deni; Yudhanto, Wildan; Aziz, Ahmad Abdul; Simamora, Alex Johanes
Jurnal Mantik Vol. 9 No. 1 (2025): May: Manajemen, Teknologi Informatika dan Komunikasi (Mantik)
Publisher : Institute of Computer Science (IOCS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35335/mantik.v8i5.6339

This study investigates the influence of risk oversight committee characteristics on banking risk. This study also investigates the moderating role of digital innovation between the influence of risk oversight committee characteristics on banking risk. Risk oversight committee effectiveness is measured by five key attributes of committee size, independence, financial expertise, risk management expertise, and meeting frequency. Banking risk is assessed across three critical dimensions which are credit risk, liquidity risk, and operational risk. Digital innovation is operationalized using the Indonesian Digital Innovation Award as a proxy for technological maturity. Samples are 27 publicly listed banks on the Indonesian Stock Exchange from 2017 to 2023. The empirical findings reveal that all risk oversight committee attributes are significantly and negatively associated with banking risk, affirming the importance of governance structures in enhancing risk resilience. Furthermore, digital innovation significantly moderates these relationships, amplifying the risk-reducing effects of each committee attributes of size, independence, financial expertise, risk management expertise, and meeting frequency. These results underscore the synergistic value of integrating governance mechanisms with digital transformation initiatives. The study contributes to the literature by bridging corporate governance and financial technology in a risk management context, and offers practical recommendations for regulators and bank executives to strengthen oversight functions in the digital era

Environmental, Social, and Governance (ESG) Risk towards Stock Market Reaction in Indonesia Simamora, Alex Johanes
The International Journal of Financial Systems Vol. 3 No. 1 (2025)
Publisher : Otoritas Jasa Keuangan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61459/ijfs.v3i1.45

Investors want to ensure that their investments will be sustainable by investing in a business that considers ESG aspects. This research aims to examine the effect of ESG risk on stock market reaction in Indonesia. Research samples include 300 observations that listed on the index of Indonesian Stock Exchange ESG Leaders. ESG risk is measured by ESG risk score. Stock market reaction is measured by abnormal return. Hypothesis test uses fixed-effect regression analysis. Based on data analysis, ESG risk has an effect on stock market reaction. The effect of ESG risk on stock market reaction occurs more in lower information asymmetry. It indicates that lower ESG risk captures effective ESG implementation and lower companies’ risks and attracts investors to buy the stock. This research provides new evidence of ESG risk on investors’ reactions on the Indonesian Stock Exchange.

Effect of Environmental Performance on Firm Value in Indonesian Stock Exchange: Intervening Role of Profitability Muqorobin, Masculine Muhammad; Simamora, Alex Johanes
Journal of Trends Economics and Accounting Research Vol 5 No 4 (2025): June 2025
Publisher : Forum Kerjasama Pendidikan Tinggi (FKPT)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47065/jtear.v5i4.1925

This study aims to examine the effect of environmental performance on firm value, with profitability serving as a mediating variable. The research sample consists of 171 manufacturing companies listed on the Indonesia Stock Exchange and participating in the PROPER program during the period 2017–2019. Environmental performance is measured using the PROPER environmental performance rating. Firm value is measured using Tobin’s Q, while profitability is measured by return on equity (ROE). The analysis method employed includes regression analysis to test direct effects and the Sobel test to assess indirect effects. Based on the results of data analysis, this study demonstrates that (1) environmental performance has a positive effect on profitability, (2) profitability positively affects firm value, and (3) environmental performance also has a direct positive impact on firm value. Furthermore, the study confirms the mediating role of profitability, indicating that environmental performance indirectly enhances firm value through improved profitability. This research contributes to fulfil the inconsistent findings reported in prior Indonesian studies.

Pengaruh Konsentrasi Kepemilikan Terhadap Risiko Environmental, Social, Governance (ESG) Simamora, Alex Johanes
Jurnal Bingkai Ekonomi (JBE) Vol 10 No 2 (2025): Agustus 2025: Jurnal Bingkai Ekonomi (JBE)
Publisher : Lembaga Penelitian dan Pengabdian kepada Masyarakat (LPPM) - Institut Teknologi dan Bisnis (ITB) Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54066/jbe.v10i2.483

The success of environmental, social, governance (ESG) implementation can be seen from the effectiveness of ESG in reducing business risk. An effective governance structure ensures control and supervision of ESG implementation. Most of the ownership structures of companies in Indonesia are dominated by concentrated ownership. This study aims to examine the effect of ownership concentration on ESG risk. The research sample includes 210 companies listed on the IDXESG index in the 2020–2023 period. Data analysis was carried out using the regression method. Based on the results of the analysis, ownership concentration has been shown to reduce ESG risk. Controlling shareholders can encourage managers to implement ESG effectively in order to reduce business risk. Supervision by shareholders tends to be directed towards the interests of business sustainability by limiting managers' opportunistic behavior. This study contributes to the literature, especially agency theory, by expanding its context to ESG risk. This study also presents new evidence regarding the relationship between ownership concentration and ESG risk. The implications of this study are aimed at management to improve the monitoring function through ownership concentration, to regulators to formulate regulations related to ESG risk as part of ESG evaluation, and to investors to consider investing in companies with low ESG risk levels.

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