Determinants of Tax Aggressiveness in Food and Beverage Subsector Companies

This research aims to test and analyze the influence of liquidity, CSR, ROA, company size and capital intensity on the tax aggressiveness of food and beverage subsector companies listed on the IDX from 2019 to 2019. 2022. The population in this research is the food and beverage subsector companies registered on the IDX during the 2019-2022 period, totaling 24 companies. Sampling used a non-probability sampling method with a purposive sampling technique of 15 companies. The data source is secondary data accessed via www.idx.co.id. The data analysis technique used in this research uses multiple regression analysis. The results of this study show that ROA influences tax aggressiveness. Meanwhile liquidity, CSR, company size and capital intensity do not affect tax aggressiveness

The Role of Environmental Management System, Environmental Performance, and Military Connections to Carbon Emission Disclosure

This study aims to examine the role of environmental management systems, environmental performance, and military connections to the disclosure of carbon emissions. This study focuses on companies listed on the Indonesia Stock Exchange for the period 2017-2020. Hypothesis testing using multiple linear regression. Test-F shows a stable and significant model. The research results show four variables that have been proven to be insignificant to carbon emissions, namely the environmental management system, military connections, size firms, and leverage. Environmental performance and age firms in this research have affected a positive and significant impact on the disclosure of carbon emissions. This demonstrates that companies that receive the PROPER Awards from the Ministry of Environment and Forestry are those with good environmental performance in accordance with government regulations to reduce greenhouse gas emissions

The Effect of Sustainable Performance Disclosure on Systematic Risk in Energy Companies in Indonesia in the Year of 2017-2021

Abstract. This study examines the effect of environmental, social, and governance (ESG) disclosure towards systematic risk of energy companies in Indonesia. ESG performance is measured by Environmental, Social, and Governance Disclosure Score from Bloomberg, while systematic risk is measured using beta. This study performed regression using a sample of 9 energy companies in Indonesia during 2017-2021 and found that social disclosure variable has a significant negative effect towards the company's systematic risk. Meanwhile, environmental and corporate governance disclosure variable do not affect systematic risk significantly. This study contributes on how ESG information determines risk-adjusted returns and adds to previous research finding conducted in Indonesia by Triyani et al. (2021) that social performance disclosure has a negative impact on the systematic risk of companies in overall sector.Keywords:ESG Disclosure Score, systematic risk, sustainability, emerging country, energy sectorAbstrak. Penelitian ini menguji pengaruh pengungkapan environment, social, dan governance (ESG) terhadap risiko sistematis perusahaan sektor energi di Indonesia. Pengungkapan kinerja ESG diukur dengan Environmental, Social, dan Governance Disclosure Score dari Bloomberg, sedangkan risiko sistematis diukur dengan beta. Dengan menguji 9 perusahaan energi di Indonesia periode 2017-2021 menggunakan regresi, hasil menunjukkan variabel pengungkapan kinerja sosial memiliki hubungan negatif yang signifikan terhadap risiko sistematis perusahaan. Sedangkan variabel pengungkapan kinerja lingkungan dan tata kelola perusahaan tidak memiliki hubungan signifikan terhadap risiko sistematis. Penelitian ini berkontribusi dalam menjelaskan pertimbangan informasi keberlanjutan terhadap risiko sistematis perusahaan untuk menentukan risk-adjusted return. Penelitian ini menambah hasil temuan dari penelitian sebelumnya oleh Triyani et al. (2021) yang dilakukan di Indonesia bahwa pengungkapan kinerja sosial berdampak negatif terhadap risiko sistematis perusahaan pada industri secara umum.Kata kunci:ESG Disclosure Score, risiko sistematis, keberlanjutan, negara berkembang, sektor energ

THE IMPACT OF OWNERSHIP STRUCTURE ON FIRM VALUE IN THE BANKING SECTOR COMPANIES

Research Purpose. This research aims to determine the effect of managerial ownership, foreign ownership, and family ownership on firm value.Research Method. This research uses quantitative methods. The population in this study is banking companies listed on the Indonesia Stock Exchange from 2016 to 2019. The sample was determined by purposive sampling technique and obtained 88 research samples based on specific criteria. The analytical method used is descriptive statistical analysis, panel data regression analysis, classical assumption test, and multiple linear regression analysis.Research Result and Findings. The results showed that managerial ownership and foreign ownership had an insignificant negative effect on firm value and family ownership had a significantly positive effect on firm value

The Effect of Corporate Social Responsibility Disclosures And Financial Information on Abnormal Return (Empirical Study on Food and Beverage Sub-sector Manufacturing Companies Listed on Indonesian Stock Exchange in 2013-2017)

This study aims to find empirical evidence of the effect of disclosure of corporate social responsibility and financial information proxied by accounting profits and return on assets to abnormal returns in food and beverage sub-sector manufacturing companies. The population in this study are all companies whose shares are consistently incorporated in the food and beverage sub-sector during the study period. The data used is secondary data in the form of annual reports. The statistical test used to test the hypothesis is panel data regression with a random effect model.The results of this study indicate that disclosure of corporate social responsibility has a negative and insignificant effect on abnormal returns, accounting earnings have a negative and insignificant effect on abnormal returns and return on assets have a positive and significant effect on abnormal returns.Keywords: corporate social responsibility, accounting profit, return on assets and abnormal return

El distintivo de Empresa Socialmente Responsable como elemento para la creación de valor económico de una empresa

Purpose: The present investigation was designed to determine the possible relationship between obtaining the Socially Responsible Company distinctive and the generation of economic value by the obtaining companies. Design/methodology/approach: A sample of 32 companies listed on the Mexican Stock Exchange that were awarded the Socially Responsible Company distinctive was drawn and two valuation focal points were considered: one before obtaining the distinctive and another subsequent to it. To establish the economic value of the companies, the free-cash-flow method was used. This study is considered, therefore, under the income approach of business valuation methods. Finally, the values obtained in both focal points were compared to determine the change in generated value attributable to the SRC distinctive. Findings: The results confirmed that obtaining the distinctive as a Socially Responsible Company does have an impact on the generation of economic value for the companies belonging to the sample -measured through the free-cash-flow method. This impact was determined at an average 6.26%, reasonably resembling the distribution of individual results a normal probabilistic distribution. Originality/value: This work adds value to the research on corporate social responsibility value measurement. This research study differentiates from others in the area due to the use of the CSR certification granted in Mexico by CEMEFI, as a social responsibility variable. In addition, the free-cash-flow method was used in the analysis, which is a novelty as it had not been applied to investigations of this type before. Likewise, this research work adds to past research in as much as it concludes that there is a positive relationship between corporate social responsibility and the generation of economic benefits.Propósito: La presente investigación fue diseñada para determinar la posible relación entre la obtención del distintivo de Empresa Socialmente Responsable y la generación de valor económico para las empresas que lo obtienen. Diseño/metodología/enfoque: Se tomó una muestra de 32 empresas que cotizan en la Bolsa Mexicana de Valores, que tenían el distintivo de Empresa Socialmente Responsable. Se consideraron dos puntos focales de valoración: uno antes de obtener el distintivo y otro posterior. Para establecer el valor económico de las empresas, se utilizó el método de flujo de caja libre. Por ello, este estudio se considera bajo el enfoque de ingresos de los métodos de valoración de negocios. Finalmente, los valores obtenidos en ambos puntos focales se compararon para determinar el cambio en el valor generado atribuible al distintivo SRC. Resultados: Los resultados confirmaron que obtener el distintivo como Empresa Socialmente Responsable tiene un impacto en la generación de valor económico para las empresas que pertenecen a la muestra medida a través del Flujo de caja libre. Este impacto se determinó en un promedio de 6.26%, encontrándose que la distribución de resultados individuales se asemeja razonablemente a la distribución probabilística normal. Originalidad/valor: Este trabajo agrega valor a las líneas de investigación sobre la medición del valor de la responsabilidad social corporativa. No obstante, se diferencia de otros estudios debido al uso de la certificación CSR otorgada en México por CEMEFI como una variable de responsabilidad socia. Además, en el análisis se utiliza el método de flujo de caja libre, mismo que no se ha aplicado para investigaciones de este tipo en el pasado. Asimismo, este trabajo se suma a otros que concluyen que existe una relación positiva entre la responsabilidad social corporativa y la generación de beneficios económicos

The Role of Trust in Effecting the Firm Performance and Human Capital to Earning Quality with Trust for Indonesia, Phillipines and Thailand Banks

This study investigates the influence of firm performance and human capital on the earnings quality with trust as moderating variable, uses an internal factors as a predictor of earnings quality, the population of this research are listed banks in Indonesia, Thailand and Philippines on 2010-2014 period. Earnings quality is measured by Thomson Reuter. The Firm performance is measured by a proxy for earnings asset securities and reinvestment rate (Maherani et al., 2014). Human capital is measured by a proxy of total labor costs divided by net interest income (Mojtahedi, 2013). The results showed that firm performance and significant positive effect on the earnings quality. Human capital proved positive and significant impact on the earnings quality and trust proved to be a good moderating variable and the results also provide implications such as (1) customer acceptance, it can be used as new measurement for firm performance and earning quality, and (2) trust as additional indicator for banking regulation by Financial Regulator. Keywords:  firm performance, human capital, trust, earnings qualit

The Effect of Environmental, Social, and Governance (ESG), COVID-19 on Firm Performance with Firm Life Cycle as a Moderating Variable

This research endeavors to present tangible evidence on the impact of environmental, social, and governance (ESG) factors as well as the COVID-19 pandemic on corporate performance, while also considering the moderating influence of the firm life cycle. The conceptual framework applied is the Legitimacy theory, which is utilized to examine the connection between ESG performance, COVID-19, and firm performance. The evaluation of firm performance involves Tobin's Q for assessing firm value and Return on Assets (ROA) for financial performance. Four hypotheses are formulated and subjected to testing. The study utilizes purposive sampling, encompassing all companies listed on the Indonesia Stock Exchange (BEI) between 2017 and 2022, resulting in 235 data observations. The analysis of hypotheses is conducted through the SPSS Statistics 26 application. The findings demonstrate a noteworthy correlation between ESG performance and COVID-19 with financial performance, and the firm life cycle moderates this relationship. However, ESG performance and COVID-19 do not significantly affect market performance or firm value. Additionally, the firm life cycle does not moderate the relationship between ESG and firm value. The implications of the study suggest that ESG factors play a legitimizing role, contributing to an overall improvement in firm performance