The Financial Performace of ESG (Environmental, Social and Governance) Star Listed Companies in Indonesia
DOI:
https://doi.org/10.54408/jabter.v3i5.335Keywords:
ESG, Financial Performance, ESG Star Listed CompaniesAbstract
This study aims to decrypt the financial performance of companies in Star Listed Companies in Indonesia consisting of 8 companies by 2024. Companies that apply ESG principles can improve company performance, because they have innovative and creative resources in carrying out company activities. This research is expected to increase the urgency of companies in Indonesia in paying attention to ESG aspects in their business operations, because it sees that many Indonesian companies are still implementing ESG in order to be attractive to stakeholders and potential investors. Companies must also pay attention to intellectual capital in order to improve company performance to be efficient and effective.
Downloads
References
BEI. (2021). Synergy to Reach sustainability and Beyond. Bei. https://www.idx.co.id/media/20221296/20221102_sr-bei-2021.pdf
Boffo, R., & Patalano, R. (2020). ESG Investing Practices, Progress Challenges. OECD Paris, 1–88.
Braam, G. J. M., Uit De Weerd, L., Hauck, M., & Huijbregts, M. A. J. (2016). Determinants of corporate environmental reporting: The importance of environmental performance and assurance. Journal of Cleaner Production, 129, 724–734. https://doi.org/10.1016/j.jclepro.2016.03.039
Chen, Z., & Xie, G. (2022). ESG disclosure and financial performance: Moderating role of ESG investors. International Review of Financial Analysis. https://doi.org/10.1016/j.irfa.2022.102291
Enad, O. M. A., & Gerinda, S. M. A. (2022). Enhancing financial performance of the banks: the role of customer response and operations management. Journal of Innovation and Entrepreneurship, 11(1). https://doi.org/10.1186/s13731-022-00211-w
Grant Thornton. (2023). the Importance of Esg Reporting. November.
Hoang, T. H. Van, Pham, L., & Nguyen, T. T. P. (2023). Does country sustainability improve firm ESG reporting transparency? The moderating role of firm industry and CSR engagement. Economic Modelling. https://doi.org/10.1016/j.econmod.2023.106351
Jensen and Meckling. (1976). Theory of The Firm: Managerial Behavior, Agency Costs and Ownership Structure. Journal of Financial Economics, 3, 305–360. https://doi.org/10.1177/0018726718812602
Jovita, G. A. (2023). Impact of ESG Implementation on Financial Performance and Capital Structure. Jurnal Informatika Ekonomi Bisnis, 5, 1480–1486. https://doi.org/10.37034/infeb.v5i4.778
Khandelwal, V., Tripathi, P., Chotia, V., Srivastava, M., Sharma, P., & Kalyani, S. (2023). Examining the Impact of Agency Issues on Corporate Performance: A Bibliometric Analysis. Journal of Risk and Financial Management, 16(12). https://doi.org/10.3390/jrfm16120497
Lam, W. H., Lam, W. S., Liew, K. F., & Lee, P. F. (2023). Decision Analysis on the Financial Performance of Companies Using Integrated Entropy-Fuzzy TOPSIS Model. Mathematics, 11(2). https://doi.org/10.3390/math11020397
Lar Lindbergh. (2003). Essays on Financial Performance and Capital Structure. In Umea School of Business and Economics.
Li, T. T., Wang, K., Sueyoshi, T., & Wang, D. D. (2021). Esg: Research progress and future prospects. Sustainability (Switzerland), 13(21). https://doi.org/10.3390/su132111663
Nareswari, N., Tarczynska-Luniewska, M., & Al Hashfi, R. U. (2023). Analysis of Environmental, Social, and Governance Performance in Indonesia: Role of ESG on Corporate Performance. Procedia Computer Science, 225, 1748–1756. https://doi.org/10.1016/j.procs.2023.10.164
PwC Indonesia. (2023). Environmental Social and Governance (ESG) in Indonesia: Access to Finance. 1–29.
Rahmaniati, N. P. G., & Ekawati, E. (2024). The role of Indonesian regulators on the effectiveness of ESG implementation in improving firms’ non-financial performance. Cogent Business and Management, 11(1). https://doi.org/10.1080/23311975.2023.2293302
Ruan, L., & Liu, H. (2021). Environmental, Social, Governance Activities and Firm Performance: Evidence from China. Sustainability, 13(2), 767. https://doi.org/10.3390/su13020767
Sassen, R., Hinze, A. K., & Hardeck, I. (2016). Impact of ESG factors on firm risk in Europe. Journal of Business Economics, 86(8), 867–904. https://doi.org/10.1007/s11573-016-0819-3
Sibarani, S. (2023). ESG (Environmental, Social, and Governance) Implementation to Strengthen Business Sustainability Pt. Migas–North Field. European Journal of Business and Management Research, 8(1), 147–150. https://doi.org/10.24018/ejbmr.2023.8.1.1798
Zhao, C., Guo, Y., Yuan, J., Wu, M., Li, D., Zhou, Y., & Kang, J. (2018). ESG and corporate financial performance: Empirical evidence from China’s listed power generation companies. Sustainability (Switzerland), 10(8), 1–18. https://doi.org/10.3390/su10082607
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 Chandra Prasadhita, Muhammad Nawawi
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
This journal is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.