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All Journal Multidiciplinary Output Research for Actual and International Issue (Morfai Journal) International Journal of Economic, Business, Accounting, Agriculture Management and Sharia Administration (IJEBAS)
Della Andriyani Ridwan
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THE ROLE OF DYNAMIC CAPABILITY IN IMPROVING SUSTAINABLE PERFORMANCE: MEDIATION OF ENVIRONMENTAL SOCIAL GOVERNANCE (ESG) STRATEGY IN PALM OIL COMPANIES IN MEDAN Della Andriyani Ridwan; Sambas Ade Kesuma; Narumondang Bulan Siregar
International Journal of Economic, Business, Accounting, Agriculture Management and Sharia Administration (IJEBAS) Vol. 5 No. 3 (2025): June
Publisher : CV. Radja Publika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/ijebas.v5i3.3264

Abstract

This study investigates the role of dynamic capabilities, specifically absorptive capability and adaptive capability, in enhancing sustainable performance, with Environmental, Social, and Governance (ESG) strategy as a mediating variable. Using an empirical approach, data were collected from 100 employees of palm oil companies operating in Medan, Indonesia, through a full sampling method. Data analysis was conducted using SPSS for descriptive statistics and SmartPLS for Partial Least Squares Structural Equation Modeling (PLS-SEM). The results confirm the significance of all five hypothesized relationships, indicating that both absorptive capability and adaptive capability have a positive effect on sustainable performance, with ESG strategy serving as a mediating variable. Among the two capabilities, adaptive capability has the strongest direct and indirect influence, while absorptive capability shows the weakest effect. These findings provide empirical support for the dynamic capability framework and confirm the validity and reliability of the measurement instruments used. This study contributes to the literature on sustainable business practices in emerging markets, particularly within resource-based industries. Additionally, it offers practical implications for corporate managers, policymakers, and stakeholders by highlighting the strategic value of enhancing dynamic capabilities to drive ESG integration and long-term sustainable performance.
THE INFLUENCE OF GOOD CORPORATE GOVERNANCE, INTANGIBLE ASSETS, AND SALES GROWTH ON FINANCIAL DISTRESS IN MANUFACTURING FIRMS LISTED ON THE INDONESIA STOCK EXCHANGE DURING THE 2022–2024 PERIOD Muhammad Daffa Zulfikar; Della Andriyani Ridwan; Efrina Surya Eningsih Silalahi
Multidiciplinary Output Research For Actual and International Issue (MORFAI) Vol. 5 No. 2 (2025): Multidiciplinary Output Research For Actual and International Issue
Publisher : RADJA PUBLIKA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/morfai.v5i2.3821

Abstract

This study investigates the determinants of financial distress in companies, emphasizing the roles of good corporate governance, intangible assets, sales growth, leverage, and liquidity. The research aims to provide empirical evidence on how these variables influence a firm’s likelihood of experiencing financial difficulties. A quantitative research approach was adopted, utilizing secondary data from annual reports of publicly listed companies over a defined observation period. Multiple regression analysis was applied to test the hypotheses, supported by classical assumption tests to ensure model validity. The results reveal that the size of the board of directors, the size of the board of commissioners, the presence of an effective audit committee, and managerial ownership significantly contribute to reducing financial distress. Sales growth was also found to have a positive effect on financial stability by strengthening operational performance and debt repayment capacity. Conversely, intangible assets showed no significant impact, while leverage exhibited a negative effect, indicating that debt structure management plays a critical role in distress prevention. Liquidity positively affected the ability to meet short-term obligations, reinforcing its importance in maintaining financial health. Overall, the findings highlight the interplay between governance mechanisms, operational growth, and financial structure in mitigating financial distress.
Co-Authors Efrina Surya Eningsih Silalahi Muhammad Daffa Zulfikar Sambas Ade Kesuma Siregar, Narumondang Bulan