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This study investigates the decoupling phenomenon between ESG (Environmental, Social, and Governance) sustainability reporting and communal Tri Hita Karana (THK) sustainability practices in a Rural Bank in Bali. Through Ethnographic Content Analysis (ECA) of official documents from BPR Luhur Damai covering 2023–2025, this study identifies that the Sustainability Report (SR), prepared strictly according to Financial Services Authority Regulation (POJK) 51/2017, does not incorporate substantial THK practices, namely banten (ceremonial offerings) Rp131.6 million, dana punia (religious donations) Rp8.5 million, and monthly banjar (communal community unit) contributions, producing a Hindu religious expenditure to formal Social and Environmental Responsibility (SER) ratio of 10:1. Drawing on the Institutional Logics perspective, this study identifies four decoupling mechanisms: (1) cognitive, namely THK as taken-for-granted, not perceived as “sustainability”; (2) administrative, namely departmental silos between Compliance and General Affairs; (3) template, namely POJK 51/2017 provides no space for local wisdom; and (4) capacity, namely limited Human Resources (HR) and institutional capacity. These findings lead to the concept of “invisible sustainability,” that is, real sustainability contributions that are invisible to conventional reporting frameworks, and “cultural accounting gap,” that is, the absence of accounting categories for local cultural-religious contributions. The theoretical contribution is demonstrating that decoupling in Global South contexts is not merely symbolic compliance but results from structural misalignment between transnational and communal logics that renders local sustainability contributions institutionally invisible.

This study investigates the relationship between Environmental, Social, and Governance (ESG) performance and corporate financial distress, with board gender diversity examined as a moderating variable. Using 96 firm-year observations from manufacturing companies listed on the Indonesia Stock Exchange (2022–2024), the analysis employs variance-based Structural Equation Modelling (SEM). The findings reveal that ESG performance does not exert a statistically significant effect on financial distress, and gender diversity does not moderate this relationship. These non-significant results constitute the central empirical contribution of the study, highlighting that ESG engagement and gender diversity have yet to translate into financial resilience in the Indonesian manufacturing context. The study underscores the importance of contextual factors—such as implementation costs, authenticity of ESG disclosures, and limited female representation on boards—in shaping the effectiveness of sustainability practices. The results provide theoretical implications for Stakeholder and Agency Theory and offer practical insights for managers, regulators, and investors in emerging markets.

The tea franchise industry in Indonesia has experienced significant growth over the past decade, transforming the traditional tea drinking culture into a modern business opportunity. This research explores the dynamics of tea franchises in Indonesia through cultural perspectives, business strategies, and innovation. This study aims to identify critical success factors, cultural adaptation strategies, and innovation models implemented by major tea franchise brands operating in Indonesia. Using a qualitative research method with a phenomenological approach, data was collected through in-depth interviews with 25 franchise owners, 15 brand managers, and 50 consumers in five major cities in Indonesia, complemented by observation and document analysis. The findings reveal that successful tea franchising effectively balances three key elements: maintaining Indonesia's tea drinking culture while introducing modern consumption patterns, implementing adaptive business models that accommodate local economic conditions, and continuously innovating in product development and service delivery. The study identified four key innovation patterns: product localization (85% of successful franchises), digital integration (92%), experiential marketing (78%), and sustainability practices (68%). Cultural factors significantly influence menu adaptation, store ambient design, and marketing strategy. This study concludes that tea franchising in Indonesia represents a unique hybrid business model that successfully blends the global franchise system with local cultural values, creating a sustainable competitive advantage in the beverage industry.

This study aims to evaluate the influence of Green Finance, Profitability, and Capital Structure on Firm Value in the mining sector listed on the Indonesia Stock Exchange (IDX) during the period 2019 to 2023. The research is motivated by the growing importance of sustainability and financial management strategies in enhancing corporate competitiveness in an increasingly globalized market. A quantitative approach was employed using multiple linear regression analysis, with 22 companies selected through purposive sampling. The findings indicate that, simultaneously, the three independent variables have a significant effect on firm value. Individually, Green Finance and Capital Structure have a positive and significant influence, while Profitability does not show a significant impact. Capital Structure is found to be the most dominant factor affecting firm value, followed by Green Finance. This suggests that companies with sound capital management and strong commitment to sustainability practices are more valued by the market. This research contributes to both theoretical and practical perspectives in financial management, particularly in understanding how financing strategies and sustainability efforts influence market valuation. The findings also recommend that mining companies strengthen their integration of ESG principles and enhance financial efficiency to support long-term value creation and competitiveness

Sustainability reporting has been increasingly popular in recent years as businesses become more aware of environmental challenges. 96% of the top businesses in the world have implemented sustainability reporting practices, according to a KPMG survey. The effect of sustainability reporting practices on environmental performance is examined in this study. Sustainability reports, the implementation of GRI standards, and external assurance are used to gauge sustainability reporting procedures; firm size is used as a control variable. In this study, 305 observational data from manufacturing firm over a five-year period (2018-2022) were analysed quantitatively using binary logistic regression. The findings indicate that while the use of GRI standards has a positive and significant effect on environmental performance, sustainability reports and external assurance have no significant effect. These findings show that the implementation in GRI standards encourages business commitment to sustainable practices and transparency, both of which have a significant impact on environmental performance. In the meanwhile, external assurance and sustainability reports tend to be mostly symbolic and do not demonstrate a real commitment to environmental improvement. Environmental performance is positively impacted by the control variable, firm size. These findings suggest that a company's environmental performance is correlated with its size. As a control variable, firm size contributes to maintaining and clarifying the relationship between environmental performance and sustainability practices while ensuring objective and valid study findings. This study emphasizes the importance of strengthening the quality of sustainability reporting and expanding the application of external standards and assurance to improve the credibility and accountability of corporate environmental performance in Indonesia.

This research explores the role of corporate reputation as a mediator between environmental awareness and brand transparency toward social sustainability in Indonesia's beauty industry. With growing consumer expectations for brands to align with environmental and social causes, this study examines the impact of environmental awareness and perceived brand transparency on social sustainability through corporate reputation. A quantitative research approach is employed using multiple regression analysis and Sobel tests on data from Indonesian beauty product consumers. The findings reveal that while perceived brand transparency positively affects corporate reputation, environmental awareness does not directly influence reputation or social sustainability. Additionally, corporate reputation does not mediate the relationship between environmental awareness, brand transparency, and social sustainability. These results suggest that transparency enhances brand reputation but does not automatically translate to social sustainability perceptions. The study recommends further research on additional mediators and practical strategies for companies to implement impactful social sustainability practices

This study aims to obtain empirical evidence regarding the effect of Environmental, Social, and Governance (ESG) disclosure on firm value. The research sample was obtained using purposive sampling on mining firms listed on the Indonesia Stock Exchange (IDX) during the 2020–2023 period, with a total of 102 observations. Data analysis was conducted using panel data regression to test the proposed hypotheses. The results show that environmental disclosure has a significant positive effect on firm value, while social and governance disclosure have a significant negative effect. The theoretical implication of this study refers to agency theory, which asserts that information transparency through ESG can reduce information asymmetry between management and shareholders. However, if disclosure is carried out merely as a formality or symbolic practice, it may instead generate agency costs that are detrimental to the firm. In addition, these findings are also relevant to signaling theory, in which environmental disclosure can serve as a positive signal of a firm’s commitment to sustainability practices, thereby enhancing investor trust and strengthening the firm’s reputation. Practically, this study contributes to providing a more comprehensive understanding for firms, management, investors, and other stakeholders, while also serving as a reference for future research on ESG and firm value.

The Indonesian manufacturing industry is currently facing intense pressure due to global economic fluctuations and domestic volatility, prompting a strategic reassessment of sustainability practices to maintain competitiveness. While firm value reflects investor confidence, discrepancies remain between operational performance and market valuation, particularly in highly profitable firms. This study aims to systematically investigate how internal corporate factors namely dividend policy, firm size, and green accounting influence firm value. Using a Systematic Literature Review (SLR) method, ten journal articles published between 2023 and 2025 were selected based on indexation (SINTA, Scopus, Copernicus), methodological clarity, and variable alignment. The articles were screened and analyzed using content analysis techniques, supported by Microsoft Excel and Mendeley for structured data extraction. The findings reveal that a stable dividend policy serves as a strong signal of financial stability, firm size reinforces strategic positioning and resource capacity, and green accounting strengthens legitimacy through sustainability disclosure. These factors jointly shape market perceptions and ultimately influence firm valuation. The synthesis supports both signal theory and legitimacy theory in explaining the transmission of value through internal policies. This study contributes theoretically by integrating financial and sustainability variables into a unified value framework and offers practical insights for corporate decision-makers seeking to align internal strategies with investor expectations. Limitations include reliance on secondary data and scope restricted to the manufacturing sector. Future studies should explore empirical validation through cross-sectoral analysis and primary data to enrich the findings.

This study aims to systematically map the development of literature on Good Corporate Governance (GCG) using a mixed-method approach that integrates bibliometric analysis with VOSviewer and a systematic literature review. The research focuses on publications from the last five years (2020–2024), with data collected using the Publish or Perish software and the keyword “Corporate Governance.” The initial search identified 772 relevant scientific articles that met the inclusion criteria. Through network visualization analysis using VOSviewer, the study reveals that GCG research can be categorized into four thematic clusters, each representing distinct areas of focus. These clusters highlight key topics such as corporate performance, board structure, stakeholder relations, and sustainability practices, reflecting the diverse and evolving nature of GCG research. The findings provide valuable insights into the intellectual structure and research trends within the field, offering a foundation for future scholarly exploration and practical application.

The abstract of the Guangyuan Forest Health Tourism Industry Development Strategy focuses on enhancing tourist intentions in Sichuan through a multifaceted approach. The strategy emphasizes the importance of targeted marketing that highlights the health benefits of forest tourism, utilizing digital platforms and social media to reach health-conscious travelers effectively. Integrating cultural experiences with natural attractions is crucial, as well as fostering emotional connections and encouraging repeat visits. Sustainability practices are prioritized to build consumer trust and align with environmentally conscious travel trends. The strategy also calls for improving visitor experiences through enhanced infrastructure, immersive activities, and continuous feedback mechanisms to refine offerings. Establishing partnerships with local businesses and cultural organizations further enriches the tourism experience, contributing to the sustainable growth of the forest health tourism sector in Guangyuan and enhancing overall tourist satisfaction based on a sample of 385 Sichuan respondents.

Environmental education plays a crucial role in modern curricula, emphasizing sustainability and ecological responsibility to address global challenges. This study compares faith-based and secular environmental education strategies, focusing on how theological reflection and ecological consciousness are integrated into teaching frameworks. Faith-based schools, particularly those rooted in Christianity and Islam, incorporate ecological ethics within religious teachings, framing environmental stewardship as a moral and spiritual duty. In contrast, secular models prioritize scientific literacy and environmental problem-solving. The study reveals that faith-based models promote both scientific understanding and moral engagement with environmental issues through religious values like Imago Dei (in Christian schools) and khalifah (in Islamic schools). These values instill a sense of moral accountability, motivating students to act sustainably. The research also highlights how curriculum design, teacher involvement, and experiential learning contribute to the effectiveness of both models in fostering ecological responsibility. By comparing these approaches, the study proposes an integrative eco-theological pedagogical framework that combines the strengths of both methods to promote long-term commitment to sustainability. The findings have implications for educational policy, curriculum development, and teacher training, especially in pluralistic school settings where diverse perspectives must be considered. Integrating ecological ethics into education can cultivate a generation committed to sustainability and ethical responsibility.

This study investigates the effectiveness of maritime vocational education in preparing graduates to meet the evolving demands of the industry, focusing on competency development, sustainability integration, and practical readiness. The research addresses the increasing need for training programs to align with global industry standards while incorporating sustainable practices to manage environmental and operational challenges. By integrating insights from maritime professionals, educators, graduates, and regulatory officers, the study provides a comprehensive and grounded analysis. The research explores how maritime education equips graduates with industry-relevant skills and incorporates sustainability into training frameworks. Using a qualitative approach, the study involved interviews with 10 stakeholders and thematic analysis of their experiences. Findings indicate strong outcomes in practical readiness (score: 9.3/10), supported by immersive sea-going experiences and hands-on training. However, sustainability integration scored lower (8.6/10), highlighting the need for a greater emphasis on environmental practices and sustainable operations within curricula. The results underscore the significance of collaboration between educational institutions and industry professionals to ensure training aligns with real-world demands. This study offers valuable recommendations for curriculum design and sustainability practices, contributing to a well-prepared and environmentally conscious maritime workforce. The findings serve as a foundation for policy development, institutional strategies, and further research into vocational training and sustainable maritime operations.  

This study explores the barriers and challenges organizations face when implementing green management practices. Through a qualitative approach involving in-depth interviews with 15 key informants and document analysis, the research reveals complex interconnections between organizational, resource-related, and external barriers that impede successful implementation. The findings highlight a "green management commitment paradox" where surface-level support for environmental initiatives, without corresponding structural changes, hinders implementation efforts. The study identifies three primary barrier categories: organizational resistance and leadership commitment issues, resource allocation challenges, and external regulatory pressures. The research contributes to both theory and practice by providing a nuanced understanding of how these barriers interact and influence implementation success. The findings suggest that organizations need to adopt a holistic approach to environmental management, considering both technical and social dimensions of change to achieve effective implementation of green management practices.

This study aims to analyze the integration of Artificial Intelligence (AI) into Strategic Human Resource Management (SHRM) and its contribution to enhancing organizational performance using a bibliometric approach. The research method involves analyzing data from Scopus and Crossref databases with the help of VOSviewer software to map research trends, keyword relationships, and publication distributions. The findings reveal that AI plays a significant role in optimizing HR processes, such as data-driven decision-making, productivity enhancement, and more efficient talent management. Key trends include innovations in HR practices, the utilization of big data, and sustainability practices (green HRM). The analysis identifies a significant increase in publications since 2020, reflecting growing academic interest in this topic. This research provides practical significance by helping organizations understand the strategic benefits of AI in addressing HR challenges and driving sustainable performance. The findings of this study are expected to serve as a reference for future research exploring AI implementation across various organizational contexts.

This study analyzes the effect of green accounting, carbon emission disclosure, and environmental performance on firm value. The research is motivated by growing awareness of environmental sustainability, climate change concerns, and the demand for corporate transparency and accountability in managing environmental impacts. Firms are expected not only to achieve financial goals but also to actively manage environmental responsibilities to create long-term value for stakeholders. The research sample consists of 64 manufacturing companies listed on the Indonesia Stock Exchange (IDX) during 2021–2023 that meet the purposive sampling criteria and provide complete sustainability and annual reports. A quantitative approach is used with secondary data from annual and sustainability reports. The independent variables are green accounting (X1), carbon emission disclosure (X2), and environmental performance (X3), while the dependent variable is firm value (Y), measured by Tobin’s Q ratio. Multiple linear regression analysis is applied along with classical assumption testing to ensure reliability, followed by partial and simultaneous hypothesis testing. The results indicate that green accounting has no significant effect on firm value, implying that adopting green accounting alone may not influence investor perceptions without broader environmental initiatives. Conversely, carbon emission disclosure and environmental performance have a positive and significant effect on firm value, showing that transparent reporting and measurable environmental improvements can strengthen market confidence. The R² value is 4.4%, suggesting other factors also contribute to firm value. Simultaneously, all three variables significantly affect firm value, highlighting the combined importance of environmental responsibility. The findings provide practical insights for managers, investors, and policymakers: implementing sustainability practices, particularly carbon emission disclosure and improved environmental performance, can enhance investor trust, strengthen corporate reputation, and ultimately increase firm value in the competitive market.

Study explores the integration of eco theology into Christian higher education curricula, focusing on the role of faith based environmental education in fostering environmental stewardship. Introduction: As the global ecological crisis intensifies, there is a growing need to incorporate ecological ethics into religious education, preparing future leaders to address environmental challenges. By integrating eco theology with sustainability practices, students are encouraged to view environmental stewardship as a spiritual responsibility grounded in biblical teachings. Literature Review: Previous studies emphasize the success of faith based educational approaches in raising ecological awareness and fostering sustainable practices, particularly in Islamic and Christian communities. Eco theology combines theological principles with environmental ethics, offering a holistic perspective on sustainability. Materials and Method: This study employs a mixed methods approach, combining qualitative and quantitative data from interviews, surveys, and focus groups with students and faculty members at Christian institutions that integrate eco theology into their curriculum. The research examines changes in students' attitudes toward sustainability before and after participation in eco theology courses, focusing on practical applications of creation care. Results and Discussion: The findings indicate that the integration of eco theology significantly enhances students' ecological awareness and commitment to sustainability practices. Students report an increased understanding of the ethical and moral responsibility to care for creation, as well as greater engagement in community based conservation efforts. The results highlight the potential of eco theology as a transformative model in Christian higher education, equipping students with both ethical and practical tools to address the global ecological crisis.

The maritime industry is rapidly evolving due to technological advancements and increased emphasis on sustainability. This research aims to develop a specialized maritime management curriculum that aligns with the needs of the port, shipping, and logistics sectors while incorporating emerging technologies and sustainability practices. Through qualitative research involving 5 maritime professionals, 5 lecturers, and 5 graduates, this study investigates the current gaps in maritime education and the essential competencies needed in modern maritime professions. Using descriptive analysis, the research provides insights into the integration of applied management studies, technical skills, and innovation into the curriculum. The study identifies key areas where existing curricula fall short, including the underrepresentation of technological and sustainability competencies. By examining the experiences of industry professionals and educational experts, a new curriculum framework is proposed, aiming to enhance graduate readiness for modern challenges. The curriculum effectiveness is evaluated using key performance indicators (KPIs), with a 9/10 score on alignment with industry needs. Comprehensive tables illustrate the scoring across various curriculum components, including technology integration, sustainability, and managerial skills. The findings suggest that the proposed curriculum model can significantly improve the employability of graduates, ensuring that they are equipped to meet the dynamic requirements of the maritime industry. Continuous curriculum development, with feedback from industry stakeholders, is recommended to maintain alignment with evolving industry needs.

This paper examines the adoption of sustainability practices in startups, comparing those in developed and developing economies. With a growing emphasis on sustainable development, startups play a crucial role in driving environmental and social change. The study analyzes the challenges and opportunities faced by startups in both contexts, focusing on resource management, green innovation, and social responsibility initiatives. The findings reveal distinct approaches between the two groups, with startups in developed economies leveraging more advanced technologies, while those in developing economies rely on cost-effective, local sustainability practices. Recommendations are provided for fostering sustainability in the startup ecosystem.