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All Journal Indatu Journal of Management and Accounting
Resty Tamara Utami
Department of Economics and Finance for Development, University of Bradford, Bradford BD7 1DP, United Kingdom
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences Other

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Assessing the Linkage Between Sustainability Reporting and Indonesia’s Firm Value: The Role of Firm Size and Leverage Irsan Hardi; Ghalieb Mutig Idroes; Natasha Athira Keisha Hardia; Irfan Fajri; Nurul Furqan; Teuku Rizky Noviandy; Resty Tamara Utami
Indatu Journal of Management and Accounting Vol. 1 No. 1 (2023): September 2023
Publisher : Heca Sentra Analitika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.60084/ijma.v1i1.79

Abstract

Sustainability reporting is widely regarded as an essential factor in enhancing a firm's value. In light of its importance, this study examines the impact of three sustainability reporting indicators - sustainability reporting disclosure, sustainability reporting index, and sustainability reporting score - on firm value, as well as determining the role of firm size and leverage. Utilizing a sample of 200 companies listed on the Indonesia Stock Exchange (IDX) during the research period from 2013 to 2021, the results of panel data regression reveal that two of the three indicators have a significant impact on firm value. Specifically, the sustainability reporting index exerts a positive impact, while the sustainability reporting score has a negative effect on firm value. Furthermore, path analysis estimations reveal that sustainability reporting mediates the positive relationship between firm size and firm value. This study's empirical findings underscore that sustainability reporting plays a pivotal role in shaping a firm's value, and these insights can be valuable for businesses and investors seeking to understand the financial implications associated with sustainability reporting.
Dynamic Impact of Inflation and Exchange Rate in Indonesia's Top 10 Market Capitalization Companies: Implications for Stock Prices Irsan Hardi; Ghalieb Mutig Idroes; Resty Tamara Utami; Putri Dahlia; Muhammad Alfin Falha Mirza; Rais Aulia Humam; Rizka Chairunnisa; Natasha Athira Keisha Hardia; Rimal Mahdani
Indatu Journal of Management and Accounting Vol. 1 No. 2 (2023): December 2023
Publisher : Heca Sentra Analitika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.60084/ijma.v1i2.110

Abstract

Macroeconomic factors are widely believed to have a crucial role in affecting a company's financial health and, ultimately, its stock price. The study addresses this important issue by investigating the long-term impact of inflation and exchange rates on firm stock prices. This study adopts both panel and cross-firm modeling, along with a dynamic approach, which no prior study has ever conducted in Indonesia’s top 10 market capitalization companies. It utilizes monthly data spanning from September 2008 to August 2023. To generate insights into long-term effects, the study applies the Dynamic Ordinary Least Squares (DOLS) method, with a robustness check using the Fully-Modified Ordinary Least Squares (FMOLS) method. The econometric estimations yield results that are consistent with the hypotheses, indicating that the rise in inflation levels has a negative effect, while the strengthening of the domestic currency in exchange rates positively influences firm stock prices in the long term. This implies that investors should carefully assess and navigate inflationary environments, consider diversifying their portfolios across industries and international markets, and maintain a long-term perspective when making investment decisions in the unique context of Indonesia's market landscape.
Co-Authors Ghalieb Mutig Idroes Irfan Fajri Irsan Hardi Muhammad Alfin Falha Mirza Natasha Athira Keisha Hardia Nurul Furqan Putri Dahlia Rais Aulia Humam Rimal Mahdani Rizka Chairunnisa Teuku Rizky Noviandy