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Studi Pengaruh Intellectual Capital dan Corporate Social Responsibility terhadap Kinerja Pasar pada Perusahaan Bank Umum Konvensional di Bursa Efek Indonesia Periode 2021 - 2024 Reyhan Jaya; Fitra Dharma; Agrianti Komalasari; Doni Sagitarian Warganegara
Jurnal Inovasi Ekonomi Syariah dan Akuntansi Vol. 3 No. 1 (2026): Januari: Jurnal Inovasi Ekonomi Syariah dan Akuntansi
Publisher : Asosiasi Riset Ekonomi dan Akuntansi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61132/jiesa.v3i1.2049

Abstract

The banking sector plays a strategic role in supporting financial system stability and capital market development. Market performance, reflected through stock returns, represents investor confidence in a firm’s prospects and sustainability. In recent years, investors have increasingly considered non-financial factors such as intellectual capital and corporate social responsibility in evaluating firm value. However, empirical findings regarding the effect of these factors on market performance remain inconsistent, particularly in the Indonesian banking sector. This study aims to examine the effect of intellectual capital and corporate social responsibility on market performance of conventional commercial banks listed on the Indonesia Stock Exchange during the 2021–2024 period. This research employs a quantitative approach using secondary data obtained from annual reports and sustainability reports. Intellectual capital is measured using the Value Added Intellectual Coefficient method, while corporate social responsibility is measured using a disclosure index based on the Global Reporting Initiative. Market performance is proxied by stock returns. Data analysis is conducted using multiple linear regression with the Ordinary Least Squares approach. The results indicate that intellectual capital and corporate social responsibility have a positive and significant effect on market performance. These findings suggest that effective management of intangible assets and social responsibility disclosure can enhance investor perception and firm value. The results provide important implications for bank management in formulating value-enhancing strategies and for investors in making investment decisions.  
DARI ORIENTASI ESG KE WORD OF MOUTH: PERAN MEDIASI KEPERCAYAAN KONSUMEN DAN PENCIPTAAN NILAI PELANGGAN Rinaldi Bursan; Prakarsa Panjinegara; Faila Shofa; Doni Sagitarian Warganegara
Nusantara Hasana Journal Vol. 5 No. 9 (2026): Nusantara Hasana Journal, February 2026
Publisher : Yayasan Nusantara Hasana Berdikari

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59003/nhj.v5i9.1926

Abstract

Environmental, Social, and Governance (ESG) orientation is increasingly being adopted by companies as a sustainability strategy, yet understanding how this orientation translates into consumer behavioral responses remains limited. This study aims to explain the processual mechanisms linking ESG orientation to consumer word of mouth through the mediating role of consumer trust and customer value creation. Drawing on commitment–trust theory and the customer value creation literature, this study develops a conceptual model that positions customer trust and value as key mechanisms in this relationship. Data were collected through a survey of consumers who had experience with companies that actively communicate ESG practices and were analyzed using partial least squares structural equation modeling (PLS-SEM). The analysis results indicate that ESG orientation positively influences consumer trust, which in turn drives customer value creation. Customer value creation proved to be a significant predictor of word of mouth. Furthermore, the results of the indirect effects test confirmed that consumer trust and customer value creation, respectively, mediate the relationship between ESG orientation and word of mouth. This study contributes to the sustainable marketing literature by demonstrating that ESG orientation does not operate solely as a symbolic signal, but rather as a relational mechanism that shapes consumer values ​​and behavior. From a managerial perspective, these findings emphasize the importance of managing ESG as a trust-based and customer experience strategy to drive sustainable consumer advocacy.
Perkembangan dan Efektivitas Early Warning System Berbasis Artificial Intelligence dalam Prediksi Financial Distress Perusahaan: Systematic Literature Review Rizka Dian Misary; Reni Oktavia; Ratna Septiyanti; Doni Sagitarian Warganegara
Dharma Ekonomi Vol. 33 No. 1 (2026): Mei: DHARMA EKONOMI
Publisher : sekolah Tinggi Ilmu Ekonomi Dharmaputra Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59725/de.v33i1.390

Abstract

Financial distress is a condition of declining financial health of a company that can develop gradually and lead to business failure if not detected early. With the increasing complexity of the business environment and the limitations of conventional statistical methods, Artificial Intelligence/AI is increasingly being adopted in the development of early warning systems (EWS) to predict financial distress. This study aims to examine the development of AI-based EWS research, identify the most widely used algorithms, and evaluate the effectiveness of AI models compared to conventional methods in predicting financial distress. The method used is a comprehensive systematic literature review of 15 relevant scientific articles. The results show that the paradigm has shifted from statistical models to machine learning and deep learning. Random Forest and Artificial Neural Network are the most widely used algorithms and have better predictive performance. This study offers a conceptual synthesis of the progress, effectiveness, and challenges of applying AI in predicting financial distress and opens opportunities for further research on the development of contextual and interpretative EWS.