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

In: Proceedings of the 8th International Conference on Business, Economics, Social Sciences, and Humanities - Economics, Business and Management Track (ICOBEST-EBM 2025)

Author

Listed:
  • Ninin Non Ayu Salmah

    (Sriwijaya University)

  • Sulastri Sulastri

    (Sriwijaya University)

  • Isni Andriana

    (Sriwijaya University)

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.

Suggested Citation

  • Ninin Non Ayu Salmah & Sulastri Sulastri & Isni Andriana, 2025. "Financial Resilience, Risk and Firm Size Towards Sustainable Business in Companies Listed on The Indonesia Stock Exchange," Advances in Economics, Business and Management Research, in: Lia Warlina & Senny Luckyardi (ed.), Proceedings of the 8th International Conference on Business, Economics, Social Sciences, and Humanities - Economics, Business and Management Track (IC, pages 62-77, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-795-3_7
    DOI: 10.2991/978-94-6463-795-3_7
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