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0.562
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All Journal Journal of Enterprise and Development (JED) East Asian Journal of Multidisciplinary Research (EAJMR)
Rizki, Muhammad Hilman
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Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Industrial & Manufacturing Engineering

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The Impact of ESG Pillars on Banking Financial Performance in ASEAN-5 Countries Rizki, Muhammad Hilman; Putra, I Nyoman Nugraha Ardana
Journal of Enterprise and Development (JED) Vol. 6 No. 3 (2024): Journal of Enterprise and Development (JED)
Publisher : Faculty of Islamic Economics and Business of Universitas Islam Negeri Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20414/jed.v6i3.11720

Abstract

Purpose: This research analyzes the effect of ESG pillars on the financial performance (ROA) of banking companies in ASEAN-5 countries.Method: The study utilizes ESG data sourced from Thomson Reuters Eikon Refinitiv. The research population comprises 91 banks from ASEAN-5 countries, with a sample size of 25 banks selected for analysis. The observation period spans 2019 to 2023. Panel data regression analysis was conducted using Eviews 12 software to evaluate the data.Result: The findings reveal that, during the 2019–2023 period, the environmental and social pillars of ESG do not significantly impact the ROA of banking companies in ASEAN-5. However, the governance pillar demonstrates a significant positive relationship with ROA, indicating that corporate governance practices play a key role in enhancing the financial performance of banks in the region.Practical Implications for Economic Growth and Development: This study contributes to economic growth and development by emphasizing the critical role of corporate governance in improving the financial performance of banking firms in ASEAN-5. The findings suggest that robust governance practices can boost operational efficiency, attract investment, and enhance financial stability—factors essential for sustainable economic growth. Policymakers can leverage these insights to design targeted incentives that encourage banks to strengthen their governance frameworks, fostering a more resilient banking sector in Southeast Asia.
Corporate Financing Strategy and Its Impact on Firm Performance: a Critical Systematic Literature Review Rizki, Muhammad Hilman; Ajis , Muhammad; Astrilia , Herfiana; Pitriani , Nurul; Andarini , Afini Dwina
East Asian Journal of Multidisciplinary Research Vol. 3 No. 12 (2024): December 2024
Publisher : PT FORMOSA CENDEKIA GLOBAL

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55927/eajmr.v3i12.12553

Abstract

This study critically examines the relationship between capital structure, leverage, and initial public offerings (IPOs) on firm performance through a systematic literature review. Using Scopus-indexed articles and keyword combinations such as “capital structure,” “leverage,” and “initial public offering” 29 studies were identified and analyzed. The findings reveal that each factor plays a distinct role in influencing firm performance. While capital structure and leverage significantly affect long-term performance and financial stability, IPOs introduce unique dynamics in terms of market valuation and stakeholder expectations. This review highlights key gaps in existing research, including the need for more comprehensive methodologies to explore these interconnected factors. The study contributes an integrative perspective for future research and strategic decision-making in financial management.
The Impact of ESG Pillars on Banking Financial Performance in ASEAN-5 Countries Rizki, Muhammad Hilman; Putra, I Nyoman Nugraha Ardana
Journal of Enterprise and Development (JED) Vol. 6 No. 3 (2024): Journal of Enterprise and Development (JED)
Publisher : Faculty of Islamic Economics and Business of Universitas Islam Negeri Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20414/jed.v6i3.11720

Abstract

Purpose: This research analyzes the effect of ESG pillars on the financial performance (ROA) of banking companies in ASEAN-5 countries.Method: The study utilizes ESG data sourced from Thomson Reuters Eikon Refinitiv. The research population comprises 91 banks from ASEAN-5 countries, with a sample size of 25 banks selected for analysis. The observation period spans 2019 to 2023. Panel data regression analysis was conducted using Eviews 12 software to evaluate the data.Result: The findings reveal that, during the 2019–2023 period, the environmental and social pillars of ESG do not significantly impact the ROA of banking companies in ASEAN-5. However, the governance pillar demonstrates a significant positive relationship with ROA, indicating that corporate governance practices play a key role in enhancing the financial performance of banks in the region.Practical Implications for Economic Growth and Development: This study contributes to economic growth and development by emphasizing the critical role of corporate governance in improving the financial performance of banking firms in ASEAN-5. The findings suggest that robust governance practices can boost operational efficiency, attract investment, and enhance financial stability—factors essential for sustainable economic growth. Policymakers can leverage these insights to design targeted incentives that encourage banks to strengthen their governance frameworks, fostering a more resilient banking sector in Southeast Asia.
Co-Authors Ajis , Muhammad Andarini , Afini Dwina Astrilia , Herfiana I Nyoman Nugraha Ardana Putra Pitriani , Nurul