THE EFFECT OF ECONOMIC SUSTAINABILITY KPIs ON INVESTMENT PROFIT QUALITY AND FINANCIAL PERFORMANCE OF E-COMMERCE ISSUERS IN INDONESIA FOR THE PERIOD 2021–2024

Reyza Diva Afiana; Mardi Mardi; Achmad  Fauzi

doi:10.31539/718fx772

Authors

Reyza Diva Afiana Universitas Negeri Jakarta
Mardi Mardi Universitas Negeri Jakarta
Achmad Fauzi Universitas Negeri Jakarta

DOI:

https://doi.org/10.31539/718fx772

Keywords:

Economic Sustainability KPI, Earnings Quality, Financial Performance, E-Commerce.

Abstract

This study aims to analyze the effect of economic sustainability indicators measured through Key Performance Indicators (KPIs) on investment earnings quality and financial performance among e-commerce issuers in Indonesia during the 2021 to 2024 period. The research employs a quantitative approach using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS 4. The findings reveal that economic sustainability KPIs significantly influence investment earnings quality and financial performance. Earnings quality also significantly contributes to financial performance and partially mediates the relationship between economic sustainability KPIs and firm performance. These results emphasize the strategic importance of sustainability reporting in enhancing the quality of accounting information and improving long-term value creation in the digital sector.

References

Arifin, S. (2024). Analisis Dampak Pengungkapan Sustainability Reporting Terhadap Kepercayaan Investor. Jurnal Ekonomi Dan Bisnis, 4(1 SE-Articles), 213–220. https://doi.org/10.56145/jurnalekonomidanbisnis.v4i1.285

Dipura, S., & Soediantono, D. (2022). Benefits of key performance indicators (KPI) and proposed applications in the defense industry: a literature review. International Journal of Social and Management Studies, 3(4), 23–33. https://doi.org/https://doi.org/10.5555/ijosmas.v3i4.146

Ghozali, I., & Latan, H. (2015). Partial least squares konsep, teknik dan aplikasi menggunakan program smartpls 3.0 untuk penelitian empiris. Semarang: Badan Penerbit UNDIP, 4(1), 35–46.

Hodge, F. D. (2003). Investors’ perceptions of earnings quality, auditor independence, and the usefulness of audited financial information. Accounting Horizons, 17, 37.

Hristov, I., & Chirico, A. (2019). The Role of Sustainability Key Performance Indicators (KPIs) in Implementing Sustainable Strategies. Sustainability, 11(20), 5742. https://doi.org/10.3390/su11205742

Latifah, S. W., & Luhur, M. B. (2017). Disclosure of Sustainability Report and Moderating of Profitability and Its Impact on Firm Value. Jurnal Akuntansi Dan Bisnis, 17(1), 13. https://doi.org/10.20961/jab.v17i1.219

Martínez‐Ferrero, J., Garcia‐Sanchez, I. M., & Cuadrado‐Ballesteros, B. (2015). Effect of financial reporting quality on sustainability information disclosure. Corporate Social Responsibility and Environmental Management, 22(1), 45–64.

Natalia, R., & Tarigan, J. (2014). Pengaruh Sustainability Reporting terhadap Kinerja Keuangan Perusahaan Publik dari Sisi Profitability Ratio. Business Accounting Review, 2(1), 111–120.

Novieyanti, I. A., & Kurnia, K. (2016). Pengaruh Mekanisme Good Corporate Governance terhadap Kualitas Laba pada Perusahaan Manufaktur. Jurnal Ilmu Dan Riset Akuntansi (JIRA), 5(11).

Omar, N., Rahman, R. A., Danbatta, B. L., & Sulaiman, S. (2014). Management disclosure and earnings management practices in reducing the implication risk. Procedia-Social and Behavioral Sciences, 145, 88–96.

Otoritas Jasa Keuangan. (2017). Peraturan Otoritas Jasa Keuangan Nomor 51/POJK.03/2017 tentang Penerapan Keuangan Berkelanjutan bagi Lembaga Jasa Keuangan, Emiten, dan Perusahaan Publik. Otoritas Jasa Keuangan.

Rahman, M. A. I., Domas, Z. K. S., & Firmansyah, A. (2021). Hubungan pengungkapan keberlanjutan dan nilai perusahaan: kasus perusahaan sub sektor perbankan di Indonesia. Jurnalku, 1(4), 390–399.

Satwika, A. A. A. (2024). Pengaruh Kualitas Laporan Keberlanjutan Pada Profitabilitas Perusahaan dalam Indeks IDX ESG Leaders. Media Bina Ilmiah, 18(7), 1839–1850.

Soelistyoningrum, J. N., & Prastiwi, A. (2011). Pengaruh Pengungkapan Sustainability Report Terhadap Kinerja Keuangan (Studi Empiris Pada Perusahaan Yang Terdaftar Dalam Bursa Efek Indonesia). Universitas Diponegoro.

Sudiyatno, B., & Puspitasari, E. (2010). Tobin’s Q dan Altman Z-score sebagai indikator pengukuran kinerja perusahaan. Kajian Akuntansi, 2(1), 9–21.

Suryandani, A. (2018). Pengaruh pertumbuhan perusahaan, ukuran perusahaan, dan keputusan investasi terhadap nilai perusahaan pada perusahaan sektor property dan real estate. Business Management Analysis Journal (BMAJ), 1(1), 49–59.

Tarigan, J., & Semuel, H. (2015). Pengungkapan Sustainability Report dan Kinerja Keuangan. Jurnal Akuntansi Dan Keuangan, 16(2). https://doi.org/10.9744/jak.16.2.88-101

Undang-Undang Republik Indonesia Nomor 40 Tahun 2007 Tentang Perseroan Terbatas, Pub. L. No. 40 (2007).

Weber, O., Koellner, T., Habegger, D., Steffensen, H., & Ohnemus, P. (2008). The relation between the GRI indicators and the financial performance of firms. Progress in Industrial Ecology, An International Journal, 5(3), 236. https://doi.org/10.1504/PIE.2008.019127