Pengaruh Pengungkapan ESG terhadap Nilai Perusahaan dengan Komite Audit Independen sebagai Variabel Moderasi di Indonesia Perusahaan Publik Nonkeuangan
ESG開示が企業価値に与える影響：インドネシア非公開非金融企業における独立監査委員会の調整効果 (AI 翻訳)
Urmila Amelia, Syarifah Zuhra, Muhammad Wafiq
🤖 gxceed AI 要約
日本語
インドネシア証券取引所に上場する72社の非金融企業を対象に、ESG開示と企業価値の関係を分析した。ESG開示単独では企業価値に有意な影響を与えないが、独立監査委員会の調整効果を加えると有意な正の効果が確認された。企業ガバナンスの重要性を示唆する。
English
This study examines the effect of ESG disclosure on firm value for 72 non-financial Indonesian listed firms over three years. ESG disclosure alone does not significantly affect firm value, but its interaction with an independent audit committee has a significant positive effect, highlighting the importance of governance mechanisms in enhancing ESG credibility and firm value.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
インドネシアの事例ではあるが、ESG開示の効果が独立した監査委員会によって強化される点は、日本のSSBJ対応や統合報告書におけるガバナンス強化の議論に示唆を与える。
In the global GX context
This paper provides emerging-market evidence that ESG disclosure alone may not boost firm value unless supported by strong governance structures like independent audit committees. This resonates with global disclosure frameworks (ISSB, CSRD) emphasizing the role of oversight in sustainability reporting.
👥 読者別の含意
🔬研究者:Provides evidence of the moderating role of audit committees in the ESG-firm value relationship, relevant for governance and disclosure research.
🏢実務担当者:Suggests that companies should strengthen independent audit committees to maximize the value of ESG disclosure.
🏛政策担当者:Highlights the need for regulatory focus on governance mechanisms as a complement to ESG disclosure mandates.
📄 Abstract（原文）
This study aims to analyze the effect of Environmental, Social, and Governance (ESG) disclosure on firm value and examine the role of the Independent Audit Committee (IAC) as a moderating variable, with Leverage and firm size as control variables. The sample consists of 72 non-financial sector companies listed on the Indonesia Stock Exchange over a three-year observation period, resulting in 216 panel data observations analyzed using panel regression techniques. The results show that ESG disclosure has a positive but insignificant effect on firm value in the non-moderated model. However, in the moderated model, the interaction between ESG and the Independent Audit Committee has a positive and significant effect on firm value. Leverage has a negative and significant effect on firm value, while firm size has a negative but insignificant effect. These findings indicate that the effectiveness of ESG disclosure in enhancing firm value depends strongly on robust corporate governance mechanisms, particularly the role of independent audit committees in strengthening oversight, transparency, and the credibility of sustainability practices, which ultimately enhances investor confidence in the market.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.30640/inisiatif.v5i2.7009first seen 2026-07-18 07:53:16
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gxceed は公開メタデータに基づく研究支援データセットです。要約・翻訳・解説は AI 支援で生成されています。 最終的な解釈・検証は利用者が原典資料に基づいて行うことを前提とします。