Environmental Social Governance Disclosure: Implication for Firm Value and Performance in Indonesia Markets
DOI:
https://doi.org/10.54964/liabilitas.v10i1.472Keywords:
ESG, Performance, Firm, ValueAbstract
Environmental social governance (ESG) is a criterion used to measure the sustainability of a company and is often a reference for investors in choosing investor decisions because companies with good ESG tend to have good performance. This research aims to determine the effect of environmental social governance (ESG) disclosure on company value and company performance in Indonesia. Researchers use secondary data sources in the form of financial reports with data collection techniques, namely documentation. The population of this research is 22 companies listed on the IDX that have the highest ESG scores in the 2021-2023 period with a total sample of 54 data. The sampling technique uses purposive sampling. The data analysis method used in this research is a quantitative analysis technique with multiple regression hypothesis testing, which is processed with the help of the Statistical Product and Service Solution (SPSS) data processing software program version 25. The results of hypothesis testing show that environmental social governance (ESG) is not effect on firm value, and environmental social governance (ESG) also has no effect on company performance in Indonesia.
References
Andy elizabeth yustina, & Jonnardi. (2020). Pengaruh Profitabilitas, Likuiditas, dan Solvabilitas terhadap Nilai Perusahaan. Jurnal Multiparadigma Akuntansi Tarumanagara, 2.
Aranditio, S. (2024). Merusak Lingkungan, Hilirisasi Industri Nikel Perlu Dievaluasi. Kompas.Id. https://www.kompas.id/baca/humaniora/2024/01/17/merusak-lingkungan-hilirisasi-industri-nikel-perlu-dievaluasi
Aydoğmuş, M., Gülay, G., & Ergun, K. (2022). Impact of ESG performance on firm value and profitability. Borsa Istanbul Review, 22, S119–S127. https://doi.org/10.1016/j.bir.2022.11.006
Dasmaran, V. (2023). Strategi Keberlangsungan Bisnis Akuntansi Hijau dan Identitas Organisasi dalam Meningkatkan Kinerja dan Citra Perusahaan (Cetakan ke). CV.Minhaj Pustaka.
Dewi, A. K., & Harto, puji. (2023). the Effect of Environmental, Social, and Governance (Esg) Disclosure on the Company’S Market Value in Indonesia. Jurnal Pamator : Jurnal Ilmiah Universitas Trunojoyo, 16(3), 608–619. https://doi.org/10.21107/pamator.v16i3.19923
Ghozali, I., & Ratmono, D. (2020). Analisis Multivariat dan Ekonometrika, Teori, Konsep, dan Aplikasi dengan Eviews 10, Edisi 2. Semarang: Universitas Diponegoro.
Handoyo, S., & Anas, S. (2024). The effect of environmental, social, and governance (ESG) on firm performance: the moderating role of country regulatory quality and government effectiveness in ASEAN. Cogent Business and Management, 11(1). https://doi.org/10.1080/23311975.2024.2371071
Herninta, T. (2019). Faktor-Faktor yang Mempengaruhi Nilai Perusahaan Manufaktur. Manajemen Bisnis, 22(3), 325–336.
Husada, E. V., & Handayani, S. (2021). Pengaruh Pengungkapan Esg Terhadap Kinerja Keuangan Perusahaan (Studi Empiris Pada Perusahaan Sektor Keuangan Yang Terdaftar Di Bei Periode 2017-2019). Jurnal Bina Akuntansi, 8(2), 122–144. https://doi.org/10.52859/jba.v8i2.173
Kasmir. (2019). Analisis Laporan Keuangan. PT. Rajagrafindo Persada
Marsuki, M. A. (2024). Pengaruh Environmental Social Governance Dan Profitabilitas Terhadap Nilai Perusahaan. Jurnal Ilmu Dan Riset Akuntansi, 13.
Minggu, A. M., Aboladaka, J., & Neonufa, G. F. (2023). Environmental, Social dan Governance (ESG) dan Kinerja Keuangan Perusahaan Publik di Indonesia. Owner, 7(2), 1186–1195. https://doi.org/10.33395/owner.v7i2.1371
Nurmansyah, A., Kristianto, G. B., & Saraswati, E. (2023). Pengaruh Ukuran Perusahaan Terhadap Nilai Perusahaan Melalui Corporate Governance Pada Industri Perbankan Di Indonesia. Applied Research in Management and Business, 3(1), 1–13. https://doi.org/10.53416/arimbi.v3i1.134
Prabawati, P. I., & Rahmawati, I. P. (2022). The effects of Environmental, Social, and Governance (ESG) scores on firm values in ASEAN member countries. Jurnal Akuntansi & Auditing Indonesia, 26(2), 119–129. https://doi.org/10.20885/jaai.vol26.iss2.art2
Prayitno, E., Adam, M., Widiyanti, M., & Luluk, F. (2024). Dampak Pengungkapan ESG Terhadap Kinerja Keuangan Pada Perusahaan Pertambangan yang Terdaftar di Bursa Efek Indonesia. Syntax Literate: Jurnal Ilmiah Indonesia, 9(9).
Rahmansyah, M. F., & Mutmainah, S. (2024). Pengaruh Kinerja Pengungkapan Esg Terhadap Kinerja Keuangan Dengan Kepatuhan Syariah Sebagai Variabel Moderasi. Diponegoro Journal of Accounting, 13(3), 1–15. http://ejournal-s1.undip.ac.id/index.php/accounting
Strekalina, A., Zakirova, R., Shinkarenko, A., & Vatsaniuk, E. (2023). The Impact of ESG Ratings on Financial Performance of the Companies: Evidence from BRICS Countries. Journal of Corporate Finance Research, 17(4), 93–113. https://doi.org/10.17323/j.jcfr.2073-0438.17.4.2023.93-113
Sukarta, R. (2024). OJK dan BEI Nilai Perusahaan yang Melantai di Bursa Patuh ESG. Beritasatu.Com. https://www.beritasatu.com/ekonomi/2826659/ojk-dan-bei-nilai-perusahaan-yang-melantai-di-bursa-patuh-esg
Sultan, A. (2024). Diduga Cemari Sungai, Perusahaan Sawit Asing Disegel DLH Muarojambi. Sindonews.Com. https://daerah.sindonews.com/read/1414055/174/diduga-cemari-sungai-perusahaan-sawit-asing-disegel-dlh-muarojambi-1720746463#goog_rewarded
Sumarno, D. C., Andayani, W., & Prihatiningtyas, Y. W. (2023). The Effect of Environmental, Social and Governance (ESG) Assessment on Firm Value with Profitability as a Mediating Variable. Asia Pacific Management and Business Application, 12(1), 55–64. https://doi.org/10.21776/ub.apmba.2023.012.01.4
Tanjaya, F., & Ratmono, D. (2024). Pengaruh Environmental, Social, Dan Governance (Esg) Terhadap Kinerja Perusahaan Dengan Variabel Moderasi Board Size. Diponegoro Journal of Acccounting, 13(3), 1–13.
Yu, X., & Xiao, K. (2022). Does ESG Performance Affect Firm Value? Evidence from a New ESG-Scoring Approach for Chinese Enterprises. Sustainability (Switzerland), 14(24), 1–40. https://doi.org/10.3390/su142416940
Yulianti, R., Irfan, A., Afrila, W., & Yuliasmi, I. (2023). The Unfolding of E . S . G . Investment as a Realization of Sustainable Development Goals. Proceeding International Conference on Economic and Social Sciences, 1, 1–15.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2025 Jurnal Liabilitas
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
