• ISSN: 2010-023X (Print)
    • Abbreviated Title: Int. J. Trade, Economics and Financ.
    • Frequency: Quaterly
    • DOI: 10.18178/IJTEF
    • Editor-in-Chief: Prof.Tung-Zong (Donald) Chang
    • Managing Editor: Ms. Inez. Chan

    • Abstracting/ Indexing:  Crossref, CNKI, EBSCO

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HOME > Archive > 2024 > Volume 15 Number 2 (2024) >
IJTEF 2024 Vol.15(2): 83-87
DOI: 10.18178/ijtef.2024.15.2.774

Early Mover Advantage in Roundtable on Sustainable Palm Oil (RSPO) Certification: Evidence from ASEAN Countries Study

Kirana A. L. M. Trino, Kenny Fernando *, and Budi Kurniawan
Accounting Department, Faculty of Business, Sampoerna University, South Jakarta, Indonesia
Email: kirana.trino@sampoernauniversity.ac.id (K.A.L.M.T.); kenny.fernando@sampoernauniversity.ac.id (K.F.); budi.kurniawan@sampoernauniversity.ac.id (B.K.)
*Corresponding author

Manuscript received January 7, 2024; revised February 15, 2024; accepted March 29, 2024; published June 12, 2024.

Abstract—The purpose of this study is to examine the effect of entry order of RSPO adoption towards the palm oil company’s profitability. To further understand the effect on firm’s financial performance, this study also explores the relationship between liquidity, CPO extraction rate, and CPO prices; and palm oil company’s profitability. The sampling technique in this study uses purposive sampling with considerations in sampling determined by the selected criteria. The object of this research is 27 listed palm oil companies in ASEAN. This study uses secondary data obtained from company’s annual reports and Thomson Reuters for the period of 2003–2013 (excluding 2008). This study uses multiple linear regression analysis with pooled Ordinary Least Square (OLS) model. The result found that RSPO timing of entry has no impact on palm oil companies’ profitability. The study may serve as a recommendation and basis for palm oil companies to consider adopting RSPO certification. 


Keywords—financial performance, palm oil, roundtable on sustainable palm oil, sustainability


Cite: Kirana A. L. M. Trino, Kenny Fernando, and Budi Kurniawan, "Early Mover Advantage in Roundtable on Sustainable Palm Oil (RSPO) Certification: Evidence from ASEAN Countries Study," International Journal of Trade, Economics and Finance vol.15, no.2, pp. 83-87, 2024.


Copyright © 2024 by the authors. This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited (CC BY 4.0).




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