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The Impact of Disclosures on Green Accounting, Corporate Social Responsibility, and Corporate Governance on Stock Returns Safitri, Yasmin; PurwohediMurwanigsari, Unggul; Yusuf, Muhammad
Journal of International Accounting, Taxation and Information Systems Vol. 1 No. 3 (2024): August
Publisher : CV. Proaksara Global Transeduka

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70865/jiatis.v1i3.56

Abstract

This research investigates the impact of disclosing sustainability reports, encompassing Environmental, Social, and Governance (ESG) aspects, on stock returns. Environmental factors are represented by green accounting, social by corporate social responsibility, and governance by corporate governance. The study employs quantitative methods using secondary data from sustainability reports of companies listed on the ESG Leaders index from 2017 to 2022 (total of 138 samples). Descriptive statistical analysis of panel data using Eviews 12 software was conducted. Results indicate that while green accounting does not significantly influence stock returns, both corporate social responsibility and corporate governance have a positive impact. This study suggests that companies can enhance their ESG reporting to cultivate a positive stakeholder image and potentially increase stock returns.
Energy Efficiency Analysis Using Pinch Technology in the Preliminary Design of a Nitromethane Plant from Nitric Acid and Methane Safitri, Yasmin; Putri, Zahra Aulia; Prajaningrum, Desinta Rahma; Hapsari, Abellia Puteri
Journal of Vocational Studies on Applied Research 2025: JVSAR, Volume 7 Issue 2 Year 2025 (October 2025)
Publisher : Vocational College of Universitas Diponegoro

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14710/jvsar.v7i2.30763

Abstract

The production process of nitromethane through vapor phase nitration reaction between nitric acid and methane is a highly energy-intensive process requiring heating at high temperatures up to 653 K. The significant dependence on external utilities results in high operational costs and carbon emissions, necessitating energy system optimization to enhance efficiency and product competitiveness. This study aims to analyze energy efficiency in the preliminary design of a 25,000 tons per year nitromethane plant using pinch technology to determine minimum energy requirements and design an optimal Heat Exchanger Network. The pinch analysis method was applied by extracting process stream data including mass flow rate, heat capacity, inlet and outlet temperatures from four main heat exchanger units. The analysis was conducted using problem table, composite curve, and grid diagram with a ΔTmin value of 10 K. The analysis results show that the system requires a minimum hot utility of 798.418 kW and cold utility of 1,925.67 kW with a pinch temperature at 308 K. The optimal Heat Exchanger Network configuration successfully reduced the furnace load to 313.303 kW through internal heat integration, utilizing sensible heat from high-temperature reactor products for feed preheating. The implementation of pinch technology in this system has the potential to generate significant energy savings compared to conventional design, while contributing to CO₂ emission reduction and enhancing sustainability of chemical industrial processes.