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 Sustainable Financial Management Practices and Firm Value: Evidence from Environmentally Responsible Companies in Indonesia Chandika Mahendra Widaryo; Margareth Henrika; Lusiana Desy Ariswati; Muhammad Ramadhani Kesuma; Ellen D. Oktanti Irianto
Jurnal Kolaboratif Sains Vol. 8 No. 12: Desember 2025 - In Progress
Publisher : Universitas Muhammadiyah Palu

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56338/jks.v8i12.9520

Abstract

This study examines how sustainable financial management practices (SFMP) influence firm value in environmentally responsible companies in Indonesia using a phenomenological qualitative approach. The research explores managers’ lived experiences in implementing green capital budgeting, green financing, and green investment, and how these practices shape long-term value creation. Data were gathered through in-depth semi-structured interviews with finance managers, sustainability officers, and key decision-makers, supported by document analysis and limited observations.The findings show that sustainability is embedded in financial decision-making, where investment evaluations consider environmental impact, regulatory compliance, and long-term ecological benefits. Green financing appears as both a structural challenge and a strategic facilitator. While strict ESG requirements demand extensive documentation and verification, they also provide lower capital costs and serve as external validation of sustainability commitments.The study further reveals that green investments are viewed as essential for reducing regulatory and environmental risks, enhancing corporate reputation, and attracting ESG-oriented investors. A cultural shift is evident within firms, characterized by cross-department collaboration, transparency, and a managerial mindset oriented toward sustainability in financial decisions. These changes reinforce governance structures and support institutionalization of sustainability across business functions.Overall, SFMP are perceived to enhance firm value by improving reputation, lowering long-term risks, strengthening investor confidence, and increasing organizational resilience in dynamic regulatory environments. The study concludes that sustainability-driven financial practices play a transformative role in shaping corporate strategy, governance, and market positioning.
Technology Adoption in SMEs: Unraveling Bibliometric Patterns and Public Policy Influences Dhabyan Khalid Rafasya; Jovandher Abraham Limbong; Shabrina Nailul Farich; Siti Salza Rahmadanita Nakhat; Chandika Mahendra Widaryo; Muhammad Ramadhani Kesuma
Jejak digital: Jurnal Ilmiah Multidisiplin Vol. 2 No. 1 (2026): JANUARI
Publisher : INDO PUBLISHING

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.63822/gzytfc30

Abstract

The rising dependence on digital technologies has made technology adoption a strategic requirement for SMEs aiming to enhance competitiveness and sustainability. However, adoption remains uneven, especially in developing economies where structural, behavioral, and policy factors shape digital transformation. This study analyzes bibliometric patterns and public policy influences in SME technology adoption research by examining Scopus-indexed publications (2010–2024) using VosViewer for keyword co-occurrence and co-authorship mapping. The results show that the literature centers on interconnected clusters, including technology adoption models, policy interventions, digital transformation, Industry 4.0, and data governance. Findings highlight the crucial role of public policy in supporting institutional readiness, infrastructure, and capacity building, while behavioral and organizational elements, such as managerial attitudes, perceived risks, and digital literacy, also affect adoption outcomes. Bibliometric trends reveal a shift from basic ICT tools to advanced digital ecosystems involving automation, AI, and cybersecurity. This mapping clarifies how policy and organizational dynamics jointly shape SME technology adoption and informs future research and policymaking.