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All Journal Journal of Economic, Bussines and Accounting (COSTING) Neraca: Jurnal Ekonomi, Manajemen dan Akuntansi
Habibulloh, Rijal
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Economics, Econometrics & Finance

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PENGARUH LABA BERSIH DAN TOTAL ARUS KAS TERHADAP HARGA SAHAM PADA PERUSAHAAN YANG TERDAFTAR DI JAKARTA ISLAMIC INDEX Habibulloh, Rijal; Setiawan, Iwan; Mudzakir, Ahmad
Neraca: Jurnal Ekonomi, Manajemen dan Akuntansi Vol. 2 No. 3 (2024): Neraca: Jurnal Ekonomi, Manajemen dan Akuntansi
Publisher : Neraca: Jurnal Ekonomi, Manajemen dan Akuntansi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.572349/neraca.v2i3.1211

Abstract

Tujuan penelitian ini adalah untuk mengetahui dan menganalisis 1) pengaruh laba bersih secara parsial terhadap harga saham, 2) pengaruh total arus kas secara parsial terhadap harga saham, dan 3) pengaruh laba bersih dan total arus kas secara simultan terhadap harga saham pada perusahaan yang terdaftar di Jakarta Islamic Index tahun 2017-2021. Metode penelitian ini menggunakan metode asosiatif dengan pendekatan kuantitatif. Teknik pengambilan sampel yang digunakan dalam penelitian ini dengan purposive sampling. Data yang diolah merupakan data laporan keuangan tahunan yang telah diaudit dari 9 perusahaan yaitu Adaro Energy Tbk, Aneka Tambang Tbk, XL Axiata Tbk, Indofood CBP Sukses Makmur Tbk, Vale Indonesia Tbk, Indofoof Sukses Makmur Tbk, Kalbe Farma Tbk, Bukit Asam Tbk, dan Wijaya Karya (Persero) Tbk. Adapun teknik analisis data yang digunakan meliputi analisis regresi data panel, uji t, uji F dan koefisien determinasi. Hasil penelitian ini menunjukan bahwa 1) laba bersih berpengaruh negatif dan tidak signifikan secara parsial terhadap harga saham, 2) total arus kas berpengaruh negatif dan tidak signifikan secara parsial terhadap harga saham, dan 3) laba bersih dan total arus kas secara simultan berpengaruh signifikan terhadap harga saham.
SUSTAINABLE PERFORMANCE AND FINANCIAL METRICS: THE IMPACT OF ESG SCORES ON PROFITABILITY AND MARKET VALUATION ON THE INDONESIA STOCK EXCHANGE Habibulloh, Rijal; Buchory, Herry Achmad
Journal of Economic, Bussines and Accounting (COSTING) Vol. 8 No. 4 (2025): COSTING : Journal of Economic, Bussines and Accounting
Publisher : Institut Penelitian Matematika, Komputer, Keperawatan, Pendidikan dan Ekonomi (IPM2KPE)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31539/ap4t2s58

Abstract

This research investigates how Environmental, Social, and Governance (ESG) Scores influence company profitability as measured by Earnings Per Share (EPS) with Market Valuation as measured by Price to Earnings Ratio (P/E Ratio) as a mediating variable. The study focuses on companies listed on the Indonesia Stock Exchange (IDX) in 2024 and utilizes path analysis to assess the interrelationships among the variables. The sample consists of all IDX-listed firms that report ESG Scores, selected through a total sampling approach. The findings indicate that ESG Scores significantly affect Market Valuation, suggesting that firms with higher ESG risk exposure tend to exhibit higher valuation multiples. Conversely, ESG Scores do not have a significant impact on Profitability, nor does Market Valuation influence Profitability. Furthermore, the mediation analysis reveals that Market Valuation does not mediate the relationship between ESG Scores and Profitability. This suggests that although ESG-related factors may elevate a company’s market valuation, they do not necessarily translate into improved financial performance. These results highlight the need for companies to align their sustainability initiatives with core operational strategies to achieve better financial outcomes. Additionally, this study provides important insights for investors and stakeholders by emphasizing the relevance of ESG considerations in evaluating corporate valuation and profitability.
Co-Authors Ahmad Aminudin Herry Achmad Buchory Iwan Setiawan