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ESG Disclosure, Financial Performance, and Firm Value: The Mediating Role of Competitive Advantage Haya Inayah Khaulah; Anwar Azazi; Ana Fitriana; Mochammad Ridwan Ristyawan; Uray Ndaru Mustika
Journal of Educational Management Research Vol. 5 No. 3 (2026)
Publisher : Al-Qalam Institue

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61987/jemr.v5i3.2017

Abstract

Understanding how sustainability disclosure and financial performance shape firm value remains an important issue in corporate governance and capital market studies. The purpose of this research is to examine the influence of Environmental, Social, and Governance (ESG) disclosure and financial performance on firm value, with competitive advantage acting as a mediating variable. A quantitative approach was employed using panel data from 46 publicly listed companies over the 2021–2024 period. The analysis utilized panel regression combined with path analysis to evaluate both direct and indirect relationships among variables. The findings indicate that financial performance has a positive and significant effect on firm value, confirming its central role in determining market valuation. In contrast, ESG disclosure does not show a significant direct effect on firm value. Furthermore, ESG disclosure demonstrates a negative relationship with competitive advantage, while financial performance positively influences competitive advantage. Mediation analysis reveals that competitive advantage does not mediate the relationship between ESG disclosure and firm value but partially mediates the relationship between financial performance and firm value. These findings imply that companies should strengthen financial performance as a strategic foundation while integrating ESG practices more effectively to enhance long-term competitive positioning and firm value.
The Effect of Green Finance and Corporate Social Responsibility on Profitability with Capital Adequacy Ratio as A Moderating Variable Evi Safitri; Helma Malini; Ana Fitriana; Wendy; Anggraini Syahputri
Journal of Educational Management Research Vol. 5 No. 3 (2026)
Publisher : Al-Qalam Institue

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61987/jemr.v5i3.2039

Abstract

This study aims to analyze the effect of green finance and corporate social responsibility (CSR) on profitability and to examine the moderating role of the capital adequacy ratio (CAR). This research employs a quantitative approach using panel data regression analysis. The data used are secondary data obtained from the annual financial reports of banking companies over a five-year observation period. The sample consists of 16 banking companies with a total of 80 observations. The analytical model applied in this study is the Common Effect Model (CEM). The results show that green finance has a positive and significant effect on profitability, indicating that sustainable financial practices can enhance financial performance. In contrast, CSR does not have a significant effect on profitability. Furthermore, the moderation analysis reveals that CAR strengthens the relationship between green finance and profitability but does not moderate the relationship between CSR and profitability. These findings imply that the implementation of green finance plays an important role in improving banking profitability, particularly when supported by adequate capital strength. This study contributes to the development of the sustainable finance literature and provides insights for financial institutions in formulating strategic financial policies.
What Drives Gen Z to Apply? an Exploration of Work Expectations, Social Media Use, and Organizational Attractiveness in Indonesia Adhelia Juwita Chairunnisa; Arman Jaya; Ana Fitriana; Titik Rosnani; Yuliyanti Fahruna
Journal of Educational Management Research Vol. 5 No. 3 (2026)
Publisher : Al-Qalam Institue

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61987/jemr.v5i3.2140

Abstract

This study aims to examine the influence of work expectations on intention to apply among Generation Z in Indonesia, with a particular focus on the mediating roles of social media use and organizational attractiveness in the context of digital recruitment. A quantitative explanatory approach was employed using a cross-sectional survey of 231 Generation Z individuals preparing to enter the labor market, and the data were analyzed using Partial Least Squares–Structural Equation Modeling (PLS-SEM). The findings reveal that work expectations do not have a direct effect on intention to apply; however, they significantly influence both social media use and organizational attractiveness. Furthermore, social media use has a significant positive effect on intention to apply, whereas organizational attractiveness does not show a significant influence. Mediation analysis indicates that social media use fully mediates the relationship between work expectations and intention to apply, while organizational attractiveness does not act as a mediator. These results imply that social media serves as a critical mechanism in translating job seekers’ expectations into application intentions, highlighting the importance for organizations to optimize digital recruitment strategies through interactive, informative, and engaging social media content to effectively attract Generation Z talent.
Environmental Concern, Subjective Norm, Eco Labels, and Green Purchase Intention: The Moderating Role of Social Media Information in the FMCG Industry Meisa; Giriati; Erna Listiana; Nur Afifah; Ana Fitriana
Journal of Educational Management Research Vol. 5 No. 3 (2026)
Publisher : Al-Qalam Institue

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61987/jemr.v5i3.2024

Abstract

Plastic pollution has become a global environmental issue with serious ecological consequences. Reports from the United Nations Environment Programme indicate that global plastic waste production exceeds 400 million tons annually, with a significant portion originating from packaging waste generated by the Fast-Moving Consumer Goods (FMCG) industry. This study aims to analyze the influence of Environmental Concern (EC), Subjective Norm (SN), and Eco Labels (EL) on Green Purchase Intention (GPI), while also examining the moderating role of Social Media Information (SMI). The research employed a quantitative approach using a survey of 210 consumers selected through purposive sampling. Data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS 3 at a 5% significance level. The results reveal that Environmental Concern, Subjective Norm, Eco Labels, and Social Media Information have a positive and significant effect on Green Purchase Intention. Furthermore, Social Media Information does not moderate the relationship between Environmental Concern and Green Purchase Intention, but it significantly moderates the relationship between Subjective Norm and Green Purchase Intention. These findings provide empirical contributions to the literature on green consumer behavior and offer practical implications for strengthening sustainable marketing strategies and environmental communication in the FMCG sector.