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All Journal Behavioral Accounting Journal Research Horizon Riset Akuntansi dan Keuangan Indonesia
Sari, Nur Afiqoh
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Arts Humanities Economics, Econometrics & Finance Education Law, Crime, Criminology & Criminal Justice Social Sciences

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The Effect of Corporate Life Cycle on Corporate Restructuring Sari, Nur Afiqoh
Riset Akuntansi dan Keuangan Indonesia Vol 7, No 1 (2022) Riset Akuntansi dan Keuangan Indonesia
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/reaksi.v7i1.15373

Abstract

This study aims to determine the effect of corporate life cycle on restructuring decisions with governance and financial distress as moderating variables in manufacturing companies listed on the Indonesia Stock Exchange in five years (2013- 2017) and there are 480 data for the sample. The hypotheses tested using logistic regression. The results of this study indicate that life cycle has an effect on restructuring decisions. Financial distress strengthen the influence of the “birth” and “mature” stages to carry out managerial restructuring, and strengthen the “growth” stage to carry out operational restructuring and financial restructuring. However, financial distress does not moderate the influence of the life cycle on asset restructuring. Governance weakens the influence of the “birth” stage in managerial restructuring and also weakens the influence of the “birth” and “mature” stages in financial restructuring strategies. GCG does not moderate the effect of the life cycle on operational restructuring and asset restructuring.
CEO Characteristics and Financial Distress: The Role of CEO Locality and Age Raharjo, Yulianti; Sari, Nur Afiqoh
BAJ: Behavioral Accounting Journal Vol. 8 No. 2 (2025): July-December 2025
Publisher : Universitas Pembangunan Nasional "Veteran" Jawa Timur

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33005/baj.v8i2.403

Abstract

Penelitian ini menyelidiki korelasi antara lokalitas CEO dan usia sebagai karakteristik CEO serta kaitannya dengan risiko kesulitan keuangan (financial distress). Dengan menggunakan analisis regresi linier berganda, penelitian ini mengevaluasi hipotesis berdasarkan 1.417 observasi firm-year dari perusahaan non-keuangan yang terdaftar di Bursa Efek Indonesia (BEI) antara tahun 2021 hingga 2023. Hasil penelitian mengungkapkan adanya hubungan positif yang signifikan secara statistik antara CEO lokal dan risiko kesulitan keuangan. Risiko kesulitan keuangan cenderung menurun ketika sebuah perusahaan dipimpin oleh CEO lokal (warga negara Indonesia). Temuan ini mengimplikasikan bahwa keberadaan CEO lokal dapat menjadi faktor penting dalam menjaga stabilitas keuangan perusahaan dan mengurangi kemungkinan terjadinya financial distress. Sebaliknya, hasil penelitian menunjukkan bahwa usia CEO memiliki hubungan negatif yang signifikan dengan risiko kesulitan keuangan. Hal ini menunjukkan bahwa semakin tua usia CEO, semakin tinggi risiko kesulitan keuangan yang dialami perusahaan. Penelitian ini memberikan kontribusi teoretis dalam bentuk perluasan upper echelon theory dan place attachment theory dengan mengeksplorasi karakteristik CEO seperti lokalitas dan usia terhadap keputusan strategis perusahaan, khususnya dalam mengelola risiko kesulitan keuangan. Secara praktis, temuan ini memberikan informasi bagi pemegang saham, dewan komisaris, dan regulator dalam mempertimbangkan, memilih, dan mengelola kepemimpinan perusahaan untuk meningkatkan stabilitas dan memitigasi risiko keuangan.   This study investigates the correlation between CEO locality and age as characteristics of CEOs and related financial distress risk. Using multiple linear regression analysis, the study to evaluate hypotheses based on 1,417 firm-year observations from non-financial companies listed on the Indonesia Stock Exchange (IDX) between 2021 and 2023. The findings reveal a statistically significant positive relationship between local CEO and financial distress risk. Financial distress risk tends to decrease when a company is led by a local CEO (an Indonesian citizen). This finding implies that the presence of a local CEO can be an important factor in maintaining corporate financial stability and reducing the likelihood of financial distress. Conversely, the findings reveal that CEO age has a significant negative relationship with financial distress risk. This indicates that the older the CEO, the higher the financial distress risk experienced by the company. This study provides a theoretical contribution in the form of an extension of upper echelon theory and place attachment theory by exploring CEO characteristics such as locality and age of CEO on corporate strategic decisions, especially in managing financial distress risk. Practically, these findings provide information for shareholders, boards of commissioners, and regulators in considering, selecting, and managing corporate leadership to improve stability and mitigate financial risk.
Blue Economy and Corporate Value Creation: A Bibliometric Analysis of Global Research Trends Kuncoro, Fajar Dwi; Salisa , Meilenia Rahma; Rahmatika , Armizha; Sari, Nur Afiqoh; Setiawan , Mochammad Charis
Research Horizon Vol. 5 No. 6 (2025): Research Horizon - December 2025
Publisher : LifeSciFi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54518/rh.5.6.2025.905

Abstract

The blue economy has emerged as a key strategy for sustainable development. This study employs a bibliometric approach to analyze the development and research trends of the blue economy, specifically its relationship with economic performance and firm value. Conceptualized as a sustainable development strategy, the blue economy integrates economic, social, and environmental dimensions centered on marine and coastal resources. Data from the Scopus database (2010-2025) was analyzed using VOSviewer software to map collaboration networks and thematic evolution. The results reveal a substantial increase in publications since 2016, peaking in 2024, highlighting the topic’s growing global relevance. China is the dominant contributor, led by institutions like the Ocean University of China and the Ministry of Natural Resources, followed by universities from the UK, the Netherlands, Australia, and Canada. The analysis identified three primary research clusters, sustainability, marine aspects, and economic and social sectors within the blue economy. The study confirms the blue economy’s significant contribution to economic growth, resource efficiency, and social welfare. However, its success is contingent upon effective governance, technological innovation, and strong integration between the public and private sectors, outlining critical areas for future development and policy focus.
Co-Authors Kuncoro, Fajar Dwi Raharjo, Yulianti Rahmatika , Armizha Salisa , Meilenia Rahma Setiawan , Mochammad Charis