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ANALISIS PENGARUH ESG (ENVIRONMENTAL, SOCIAL, GOVERNANCE) PERFORMANCE TERHADAP NILAI PERUSAHAAN DI BURSA EFEK INDONESIA Bahdin Nur Tanjung; Parlaban Karo-Karo; Resi Lasmaria Naibaho
Jurnal Industri Kreatif dan Inovatif Vol. 3 No. 1 (2025): Desain Komunikasi Visual
Publisher : Institut Teknologi dan Bisnis Kristen Bukit Pengharapan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61696/visisakti.v3i1.1054

Abstract

This study examines the effect of Environmental, Social, and Governance (ESG) performance on firm value of companies listed on the Indonesia Stock Exchange (IDX) during 2019–2023. The research is motivated by the Financial Services Authority of Indonesia (OJK) regulations on sustainability reporting, which encourage the integration of ESG into business practices. However, prior studies in emerging markets show mixed and limited evidence, particularly for the Indonesian context. The study aims to measure ESG performance levels, test the impact of ESG on firm value, and analyze whether the effect differs between high-environmental-impact and low-environmental-impact sectors. In addition, it investigates the moderating role of corporate governance and evaluates the relative contribution of each ESG dimension. The theoretical framework includes stakeholder theory, resource-based view, legitimacy theory, and signaling theory. The research employs panel data regression analysis using both cross-sectional and time-series data. The findings are expected to contribute to more sustainable business practices in Indonesia.
THE ROLE OF ORGANIZATIONAL COMMUNICATION IN REDUCING RESISTANCE TO CHANGE IN INDUSTRIAL COMPANIES IN INDONESIA Bahdin Nur Tanjung; Melisa Nur Asima Sidabutar; Lusi Feriyami Sitompul
Mount Hope Economic Global Journal Vol. 3 No. 2 (2025)
Publisher : Institut Teknologi dan Bisnis Kristen Bukit Pengharapan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61696/mega.v3i2.1009

Abstract

This study examines the role of organizational communication in reducing resistance to change in industrial companies in Indonesia. It is set against the background that industrial transformation is becoming increasingly intense—driven by the Fourth Industrial Revolution, sustainability demands, global competition, and regulatory changes—yet one of the main barriers is employees' resistance. Data indicates that about 65% of change programs experience moderate to high resistance, which results in implementation delays (average 40%), cost overruns (average 35%), and even complete failure (15% of cases). Resistance is treated as a multidimensional phenomenon influenced by cognitive, affective, and behavioral factors. The research uses mixed-methods with a sequential explanatory design: a quantitative phase involving 350 respondents from 35 companies and a qualitative phase involving 25 informants through in-depth interviews, focus group discussions, and case studies. The quantitative findings show that the quality of organizational communication has a negative and significant effect on resistance to change (β = -0.58; p < 0.001). In addition, aspects such as openness, consistency, timely delivery, participation, and empathetic communication are associated with mechanisms that reduce resistance by improving understanding, increasing trust, and strengthening employees' sense of ownership. The study also finds that an integrated communication strategy positively affects change effectiveness (β = 0.62; p < 0.001), and that communication effectiveness mediates the relationship between communication strategy and resistance reduction, supported by qualitative findings considering the importance of two-way communication, layered and repeated messaging, leveraging informal leaders, and management role modeling.