Financial Resilience, Risk and Firm Size Towards Sustainable Business in Companies Listed on The Indonesia Stock Exchange

Ninin Non Ayu Salmah (), Sulastri Sulastri and Isni Andriana
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Ninin Non Ayu Salmah: Sriwijaya University
Sulastri Sulastri: Sriwijaya University
Isni Andriana: Sriwijaya University

A chapter in Proceedings of the 8th International Conference on Business, Economics, Social Sciences, and Humanities - Economics, Business and Management Track (ICOBEST-EBM 2025), 2025, pp 62-77 from Springer

Abstract: Abstract This study aims to examine the impact of financial resilience, risk and company size on sustainable business in companies listed on the Indonesia Stock Exchange. The study focuses on companies that consistently submitted environment, social and government reports from 2018 to 2022. The analysis employs a random effects model for panel data regression. The market share growth model as an indicator of sustainable business can be applied if the model analysis uses determinants of financial resilience, risk and company size. The model successfully explains variations in market share growth. The variables of financial resilience, risk and company size collectively contribute to the model. The net debt to EBIT ratio positively influences market share growth, while equity capital adequacy has a negative impact. Additionally, the debt to equity ratio also contributes positively. In contrast, neither the level of operational leverage nor company size appears to significantly affect market share growth.

Keywords: Financial Resilience; Risk; Firm Size; Sustainable Business (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-795-3_7

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DOI: 10.2991/978-94-6463-795-3_7

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