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All Journal JURNAL MANAJEMEN BISNIS Jurnal Aplikasi Akuntansi Jurnal Scientia
Imo Gandakusuma
Universitas Indonesia
Economics, Econometrics & Finance Education Mathematics

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POWER DISTANCE, UNCERTAINTY AVOIDANCE AND COMMITMENT TO CHANGE Wustari Mangundjaya; Imo Gandakusuma; Mira Sekar Arumi
Jurnal Scientia Vol. 12 No. 03 (2023): Education, Sosial science and Planning technique, 2023 (June-August)
Publisher : Sean Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58471/scientia.v12i03.1612

Abstract

This study aims to identify the relationship between power distance, uncertainty avoidance, and commitment to change, using the GLOBE’s and Hofstede concepts. There were 328 overall respondents, consisting of private manufacturing company employees and state-owned companies’ employees, with every 164 respondents. Research results are based on two studies for which data were collected using three scale inventories, namely Commitment to Change, Power Distance, and Uncertainty Avoidance. Descriptive and correlations techniques were used to analyse the data. Results showed that power distance and uncertainty avoidance were significantly negatively correlated with a commitment to change. In other words, people with moderate to high power distance and moderate to high uncertainty will tend to have a low commitment to change. This study’s implications can be used by management to prepare for organizational change, particularly to identify work-related values that exist in their organizations, to anticipate employees’ reactions to change. Keywords: Commitment to Change, Power Distance, Uncertainty Avoidance.
ESG IMPACT ON POST M&A COMPANY VALUE IN SOUTHEAST ASIA Mutiara Putri Sihombing; Imo Gandakusuma
Jurnal Aplikasi Akuntansi Vol 8 No 1 (2023): Jurnal Aplikasi Akuntansi, Oktober 2023
Publisher : Program Studi Diploma III Akuntansi Fakultas Ekonomi dan Bisnis Universitas Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29303/jaa.v8i1.271

Abstract

This study examines the influence of ESG scores on the financial performance of post-M&A acquirer companies. The instrumental stakeholder theory views that high ESG performance could earn support from stakeholders for post-M&A synergy creation and financial performance. Previous studies have shown different results regarding the effect of ESG scores on a company's financial performance, thus indicating the ongoing relevance of this topic. Drawing on a sample of 135 M&A transactions in Southeast Asia, this study presents novel evidence of the financial benefits of ESG performance for acquiring companies. The findings of this research reveal a positive correlation between the ESG scores and post-M&A performance, thereby supporting prior research that aligns with instrumental stakeholder theory.
Optimal Portfolio Formation Analysis vs. Single Index Model: 2018–2019 Before Crisis and 2020–21 During Crisis Uska Wyanov; Imo Gandakusuma
Jurnal Manajemen Bisnis Vol. 10 No. 2 (2023): September
Publisher : Pusat Penerbitan dan Publikasi Ilmiah, FEB, Universitas Muslim Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33096/jmb.v10i2.576

Abstract

This paper focuses on a portfolio comparison analysis between 30 leading board stocks and 30 development board stocks selected from the Indonesia Stock Exchange (IDX). The analysis used in this study is the single index model. The periods used in this study are 2018-2019 (before the crisis) and 2020-2021 (during the crisis). The research results concluded that the Development Board stock group generated a higher portfolio return compared to the Main Board stock group, both in the 2018-2019 period (before the crisis) and in the 2020-2021 period (during the crisis). However, even though it produces a higher portfolio return, the Development Board stock group also has a higher level of portfolio risk compared to the Main Board stock group.
SUSTAINABILITY'S INFLUENCE ON ENERGY FIRM PERFORMANCE: AN ESG PERSPECTIVE Puteri Utami; Imo Gandakusuma
Jurnal Aplikasi Akuntansi Vol 8 No 1 (2023): Jurnal Aplikasi Akuntansi, Oktober 2023
Publisher : Program Studi Diploma III Akuntansi Fakultas Ekonomi dan Bisnis Universitas Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29303/jaa.v8i1.304

Abstract

Growing concerns about climate change have gained prominence in the business landscape, leading to various studies with varied findings. Some researchers argue that companies prioritizing ESG considerations tend to outperform their peers financially. However, the literature focused on the oil and gas sector has produced conflicting results when attempting to establish a connection between corporate social responsibility and firm efficiency. This study aims to thoroughly investigate the correlation between ESG implementation and the performance of energy firms between 2017 and 2021. ESG scores and ESG Pillars were employed as proxies for evaluating ESG performance across 79 energy companies. The results of this study indicate that the implementation of ESG does not have a positive and significant impact on ROA and ROE of energy companies but can have a positive and significant impact on the market performance of energy companies (SMR), especially in developed countries. The results of this study also show that investors prioritize active environmental engagement and effective governance policies when making investment decisions in the energy sector
Co-Authors Mira Sekar Arumi Mutiara Putri Sihombing Puteri Utami Uska Wyanov Wustari Mangundjaya