Journal of Economic Equity, Finance, and Taxation

The Effect of Green Accounting and Corporate Social Responsibility on Financial Performance: Empirical Study on Energy Sector Companies Listed on IDX (2019-2023)

Mochammad Ilham Ardiansyah*, Nurul Akramiah, Yufenti Oktafiah — Thu, 28 Aug 2025 00:00:00 +0000

This study examines how Green Accounting and Corporate Social Responsibility (CSR) implementation affects the financial performance of energy companies traded on Indonesia's stock exchange between 2019 and 2023. The research was prompted by environmental concerns and weakening financial results in the sector. Using quantitative analysis through panel data regression on eight selected companies, the study measures Green Accounting via the PROPER index from Indonesia's Ministry of Environment and Forestry, evaluates CSR disclosure through GRI G4 standards, and assesses financial performance using Return on Assets (ROA). The Random Effect Model analysis (conducted in Eviews 12) reveals that Green Accounting and CSR together significantly improve financial performance (F-statistic: 8.255; significance: 0.001). When examined individually, CSR demonstrates a substantial positive influence on ROA (coefficient: 0.255; significance: 0.0003), whereas Green Accounting fails to show statistically significant effects (significance: 0.7639). The research concludes that CSR implementation is vital for improving financial outcomes, but Green Accounting has not yet demonstrated measurable direct benefits. Consequently, the study recommends that energy companies focus on enhancing their CSR reporting transparency while developing more effective environmental cost management approaches.

The Influence of Good Corporate Governance and Corporate Social Responsibility on Investment Risk: A Case Study of PT Sariguna Primatirta Tbk (CLEO) Listed on IDX in 2020–2023

Uswatun Chasanah*, Yufenti Oktafiah, Dwita Laksmita Rakhmawati — Thu, 28 Aug 2025 00:00:00 +0000

This study aims to analyze the influence of Good Corporate Governance (GCG) and Corporate Social Responsibility (CSR) on investment risk at PT Sariguna Primatirta Tbk (CLEO), a company listed on the Indonesia Stock Exchange (IDX) during the 2020–2023 period. The research is motivated by the fluctuations in the company's stock prices and environmental controversies that could affect its reputation and investor trust. GCG is measured by institutional ownership, managerial ownership, independent commissioners, and the audit committee, while CSR is evaluated using indicators from the Global Reporting Initiative (GRI-G4). Investment risk is assessed through the beta coefficient based on the Capital Asset Pricing Model (CAPM). This study employs a quantitative approach using secondary data from financial statements, annual reports, and sustainability reports. The analytical method used is descriptive and inferential statistics. The findings reveal that the implementation of GCG and CSR significantly influences the reduction of investment risk. Managerial ownership and consistent CSR initiatives positively contribute to company stability and investor confidence. These results emphasize the importance of internal company policies in mitigating systematic risks and fostering investor trust.

Impact of Current Ratio, Debt to Asset Ratio, and Total Asset Turnover on Financial Distress with Return on Assets as a Moderator in Consumer Service Companies

Adinda Putri Satya, Esi Fitriani Komara* — Thu, 28 Aug 2025 00:00:00 +0000

This research examines the relationship between Current Ratio, Debt to Asset Ratio, and Total Asset Turnover on Financial Distress, with Return on Asset serving as a moderating variable in Indonesian consumer service sub-sector companies from 2019 to 2023. The study selected 23 companies from a population of 33 consumer service companies using purposive sampling techniques. By using quantitative techniques such as Logistic Regression Analysis and Moderated Regression Analysis, it was discovered that Current Ratio and Debt to Asset Ratio have no impact on Financial Distress. However, Total Asset Turnover was found to have a negative effect on Financial Distress. Additionally, Return on Asset does not moderate the relationship between Current Ratio and Total Asset Turnover on Financial Distress, but it does lessen the influence of Debt to Asset Ratio on Financial Distress.

The Influence of Customer Experience and Brand Trust on Consumer Repurchase Intention in The Spotify Premium Application (Study on Students of State Polytechnic of Malang)

Firsia Noistataka*, Musthofa Hadi, Sanita Dhakirah — Mon, 22 Sep 2025 00:00:00 +0000

In the digital era, music streaming services have become an inseparable part of everyday life, offering users easy access to diverse music content. Among these platforms, Spotify Premium has established itself as a leading service due to its ad-free listening, personalized recommendations, and high-quality audio. However, retaining users and encouraging continuous subscription remain critical challenges for streaming providers. This study aims to analyze the influence of customer experience (X1) and brand trust (X2) on repurchase intention (Y) among Spotify Premium users. A quantitative, explanatory research design was employed, with data collected through a census of 50 D-IV Marketing Management students at the State Polytechnic of Malang during the 2024/2025 academic year. Data analysis revealed that both customer experience and brand trust significantly and positively affect repurchase intention, jointly explaining 62.8% of the variance. These findings highlight specific improvement opportunities in enhancing sensory experience, strengthening technical reliability, and improving access to information. Furthermore, optimizing interface design and fostering community engagement may enhance loyalty among subscribers. The study contributes to marketing literature by emphasizing the role of experiential and relational factors in digital subscription services. Future research is recommended to expand the sample population and integrate additional variables, such as perceived value and switching barriers, for broader generalization.