Himalayan Journals

Research Article Open Access

Sustainable Financial Development for Small Medium Coffee Farmers in Java Island, Indonesia

Raden Aswin Rahadi,

Yunieta Anny Nainggolan,

Kurnia Fajar Afgani,

Ima Mulyama Zainuddin,

Mia Rosmiati,

Aisyah Moulyni,

Ainindita

DOI: 10.47310/hjebm.2022.v03i01.013

Abstract

This study aims to understand the level of financial knowledge and awareness of the coffee farmers and players in the Java Islands. A survey was conducted to understand the financial knowledge and awareness of those coffee farmers. Based on the data analysis, we can conclude that the financial knowledge and awareness of the coffee farmers and players in the Java Islands still must be improved. Stakeholders in the coffee industry can use this study to generate better strategies to improving smallholder coffee farmers' productivity. Moreover, it is also expected to contribute to the coffee industry knowledge. For future research, similar questions in this study can be used in more expansive areas of the population to understand better the coffee industry development in Indonesia.

Research Article Open Access

Climate Financial Risk: A Systematic Review of Literature

Anas Izzuddin,

Yunieta Anny Nainggolan

DOI: 10.47310/hjebm.2023.v04i01.063

Abstract

We conducted a systematic literature review of 98 peer-reviewed journal articles on climate financial risks published between 2001 and 2023 from Scopus and Google Scholar databases. Our analysis revealed a notable increase in climate financial risks literature in the last eight years, with most studies focusing on climate financial risk assessments, indicating the growing interest and urgency of the topic. The literature also addressed three other key issues: corporate management of climate financial risks, climate financial risk policies, and design and review of climate adaptation instruments. We identified several opportunities for future research, including developing risk measures and assessment methodologies, understanding the factors that can support climate financial risk management, evaluating the effectiveness and financial impact of climate financial risk policies, and supporting the development of financial innovations to manage climate risks. Our study provides a valuable overview of the current state of climate financial risk literature and potential future research directions, which can help inform decision-making processes and contribute to developing more effective strategies for managing climate financial risks.

Research Article Open Access

Green Energy Transition: Valuation & Strategy for Corporate Image Enhancement in Pt Adaro Energy Tbk

Sereno Kevas Lemuel,

Yunieta Anny Nainggolan

DOI: 10.47310/hjebm.2023.v04i02.093

Abstract

This study explores the implications of transitioning to renewable energy sources for PT Adaro Energy Tbk, an Indonesian energy company. The research's objectives were to assess the non-financial benefits of adopting green energy, evaluate the company's financial performance, and derive its intrinsic value using Free Cash Flow to Firm (FCFF), Price to Earnings Ratio, and EV/EBITDA. The findings suggest that renewable energy incorporation could significantly enhance PT Adaro's non-financial value, promoting corporate responsibility and fostering improved stakeholder relationships. Despite the shift towards green energy, PT Adaro demonstrated strong financial performance and appeared undervalued based on its intrinsic value calculations. The study concluded with recommendations for PT Adaro to leverage its green initiatives for corporate image enhancement, engage stakeholders, provide sustainability reporting, and form green partnerships. The research, while providing useful insights for similar corporations, recognized its limitations, such as dependency on publicly available data and the complexities of the renewable energy sector. Suggestions for future research included exploration of technological advancements, global trends impacting the sector, and alternative valuation methods.

Research Article Open Access

Financial Feasibility Study of Raised Floor Manufacturing Steel Panels in Indonesia

Daniel Tjeong ,

Erman Sumirat ,

Yunieta Anny Nainggolan

DOI: 10.47310/hjebm.2024.v05i01.019

Abstract

This study analyzes the financial viability of establishing a domestic steel panel raised floor production facility in Indonesia. With booming commercial real estate development and data center investments, raised flooring demand is surging at over 12,25 % annually that will reach $36 million by 2026. Moreover, government prioritizes domestic manufacturing by restricting steel import quotas and mandating sourced components for public projects. Despite these tailwinds, existing reliance on Chinese imports leads to over 3-month long lead times, lack of quality control and 90 days inventory holding for local players. Unlike prevalent dependence on secondary economic data, this study collects fine-grained qualitative insights directly through raw material supplier and equipment vendor interviews. The primary assumptions enhance credibility of financial projections instead of theoretical forecast trends. The study adopts a mixed method approach by integrating both primary and secondary data sources financial statement projections and synthesizing the qualitative and quantitative inputs through discounted cash flow modeling. The financial analysis projects robust returns for the raised floor factory investment, with positive NPV of Rp 41.45 billion and high IRR of 30,81%, confirming adequate profitability and feasibility. Establishing domestic raised floor manufacturing is financially attractive for construction sector investors given favorable demand drivers; however optimal sequencing surrounding technical competencies, policy response plans and pricing models remains important.

Research Article Open Access

Mapping Government Influence in Firms’ ESG Performance

Arie Widyastuti,

Sudarso Kaderi Wiryono,

Yunieta Anny Nainggolan

DOI: 10.47310/HJEBM.2024.v05i02.011

Pages 1 - 11

Abstract

This study aims to identify the research status quo and development trends of research in the impact of government affiliation on firms' environmental, social, and corporate governance (ESG) performance using visualization analysis with Cite Space and VOS Viewer. We retrieved published papers (2002–2024) from the Web of Science Core Collection database with a topic search related to government influence and firms’ ESG Performance. We then generated author, institution, and country co-authorship networks to identify the top productive authors, institutions, and countries, respectively, to reveal the main research themes and explore the knowledge structure, the author co-citation network to identify the influential authors, and the keywords co-occurrence network to detect research hotspots and research frontiers. These analyses give information on the main contributing force of research in government affiliation and firms’ ESG performance at three levels of authors, institutions, and countries.

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