The Effect of ESG Performance on Economic Performance in the High Profile Industry in Indonesia

Yawika, Mita Kurnia; Handayani, Susi

doi:10.15640/jibe.v7n2a12

Cited by 23 publications

(35 citation statements)

References 46 publications

(68 reference statements)

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“…The large number of stakeholders who care about ESG issues in business makes this contextual issue interesting to study. Previous research on the impact of ESG on firm performance has shown inconsistent results (Yawika & Handayani, 2019;Li et al, 2021). The research result of Duque-Grisales & Aguilera-Caracuel (2021) shows that the relationship between ESG scores and financial performance is statistically negative.…”

Section: Introductionmentioning

confidence: 91%

“…Information about a company's ESG can generally be obtained through sustainability report, annual report, financial report, company website, external data provider agencies and other sources (Yawika & Handayani 2019;Manita, Bruna, Dang, & Houanti 2018). This report can reduce information asymmetry and ensure honest signals to different stakeholder (Bae, Masud, & Kim, 2018).…”

Section: Introductionmentioning

confidence: 99%

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The Impact of ESG Scores on Corporate Financial Performance: Moderating Role of Gender Diversity

Setiani

2023

Nominal Barom. Ris. Akunt. dan Manaj.

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This study aims to examine the impact of environmental, social, and governance (ESG) scores on corporate financial performance and the moderating role of gender diversity in this relationship. This study uses 80 samples of companies listed on the Indonesian stock exchange. Samples were taken using a purposive sampling approach. The hypothesis was tested using multiple regression analysis. The results of this research show that there is a positive relationship between ESG scores and corporate financial performance. Gender diversity fosters a positive relationship between ESG scores and corporate financial performance. Investors need not only pay attention to financial aspects but also pay attention to environmental, social, and governance aspects as non-financial factors in making investment decisions.Keywords: ESG Scores, Financial Performance, Gender DiversityABSTRAKPenelitian ini bertujuan untuk menguji dampak skor environmental, social dan governance (ESG) terhadap kinerja keuangan perusahaan. Penelitian ini menggunakan 80 sampel perusahaan yang terdaftar di bursa efek Indonesia. Sampel diambil menggunakan pendekatan purposive sampling. Variabel dependen dalam penelitian ini adalah kinerja keuangan perusahaan, variabel independen adalah skor ESG, variabel pemoderasi adalah keragaman gender, dan variabel kontrol dalam penelitian ini adalah ukuran perusahaan, leverage dan growth. Hipotesis penelitian diuji menggunakan analisis regresi berganda. Hasil penelitian menunjukkan adanya hubungan yang positif antara skor ESG dan kinerja keuangan perusahaan. Keragaman gender dapat memperkuat hubungan antara ESG dan kinerja keuangan perusahaan. Investor tidak hanya perlu untuk memperhatikan aspek keuangan saja tetapi juga perlu memperhatikan aspek lingkungan, sosial dan tata kelola sebagai faktor non keuangan dalam pengambilan keputusan investasi.Kata Kunci: ESG Skor, Kinerja Keuangan, Keragaman Gender, Tata Kelola

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Section: Introductionmentioning

confidence: 91%

Section: Introductionmentioning

confidence: 99%

The Impact of ESG Scores on Corporate Financial Performance: Moderating Role of Gender Diversity

Setiani

2023

Nominal Barom. Ris. Akunt. dan Manaj.

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“…Melnyk et al [32] thus argue that the value of firms can be increased and that new investors can be attracted by improving firms' environmental performance. In effect, strong environmental activities help firms avoid any business influences as a result of pollution problems, which will result in saving costs [33].…”

Section: Corporate Environmental Sustainability Practices and Firm Valuementioning

confidence: 99%

“…Thus, firms will have superior opportunities in the market if they have the confidence and support of society. These opportunities can increase the ability for a firm to produce value [33]. In addition, for a firm to acquire legitimacy in its operations and decrease the risks that it might face, the firm needs to reveal information with enhanced quality [68].…”

Section: The Relationship Between Corporate Environmental Sustainability Disclosure and Firm Valuementioning

confidence: 99%

Do Corporate Environmental Sustainability Practices Influence Firm Value? The Role of Independent Directors: Evidence from Saudi Arabia

2020

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Environmental sustainability has become a significant approach for firms to enhance their competitive advantage and reputation. This study examines the association between environmental sustainability disclosures and firm value, in addition to the moderating impact of independent board directors on this association. Using data from Saudi listed firms, we find that reporting environmental sustainability practices has a positive and significant impact on firm value, suggesting that enhanced responsibility and transparency in addition to improved stakeholder trust are important in promoting firm value. We also find that the influence of the reported environmental sustainability practices on firm value is strongly and positively moderated by the presence of independent directors on firms’ boards, signifying that stakeholders relate environmental reporting by firms to more independent directors providing better accountability to environmental practices. The implications of this study will be of great importance for policymakers, firm management, academia, and investors in considering the adoption and importance of firms’ environmental practices.

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“…The market structure of the star hotel can also be analysed using HHI, which is the sum of the squares of the market share of each star hotel. According to Khan and Hanif (2018) and Yawika and Handayani (2019), the value of this index is between more than 0 to 1. If the index is close to 0, it means that the industrial structure tends to be perfect market competition, while if the index is close to 1, it tends to be monopolistic.…”

Section: Herfindahl-hirschman Indexmentioning

confidence: 99%

Market Structure, Conduct, and Performance of Star Hotels in North Sumatra, Indonesia

Nababan

Panjaitan²,

Panjaitan³

et al. 2023

IJIE

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This study aims to analyse the market structure, conduct, and performance of the star hotel industry in North Sumatra. The study was conducted in 2019 with time series data for the period of 2013 to 2018. The market structure is measured using the methods of concentration ratio, Herfindahl-Hirschman index, and barriers to entry, while descriptive methods are used to analyse the conduct and performance of five-star hotels. The results of the study show that: (i) there is a concentration of three- and four-star hotels, and that the concentration of four- and five-star hotels have an oligopolistic structure; (ii) the market structure of star hotels tends to be monopolistic; (iii) the minimum efficient scale index of star hotels is relatively small, which means that new hotels have a good opportunity to get a larger market share; (iv) the level of service and the level of availability of star hotel facilities are classified as good; and (v) the star hotel market structure influences hotel business behaviour in North Sumatra, which in turn affects hotel business performance.

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The Effect of ESG Performance on Economic Performance in the High Profile Industry in Indonesia

Cited by 23 publications

References 46 publications

The Impact of ESG Scores on Corporate Financial Performance: Moderating Role of Gender Diversity

The Impact of ESG Scores on Corporate Financial Performance: Moderating Role of Gender Diversity

Do Corporate Environmental Sustainability Practices Influence Firm Value? The Role of Independent Directors: Evidence from Saudi Arabia

Market Structure, Conduct, and Performance of Star Hotels in North Sumatra, Indonesia

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