ESG指標と株式評価におけるXBRLの役割：インドネシア株式市場のケーススタディ

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🔬研究者:Provides a framework for studying the interplay between digital reporting standards (XBRL) and ESG performance, with a novel mixed-methods approach.

🏢実務担当者:Highlights the potential of XBRL to enhance ESG data transparency, which can inform corporate reporting strategies and investor communication.

🏛政策担当者:Offers evidence on how XBRL can support ESG disclosure quality, relevant for regulators designing digital reporting mandates.

Problem Statement: The growing emphasis on Environmental, Social, and Governance (ESG) metrics and their integration into corporate reporting has heightened the need for transparency in financial and non-financial disclosures. While eXtensible Business Reporting Language (XBRL) is known to improve the transparency and accessibility of ESG information, its full impact on the relationship between ESG metrics, stock valuation, stakeholder perception, and financial performance is not fully understood, particularly regarding firm size and technological advancements. This study seeks to address this gap by examining how XBRL adoption influences ESG metrics, stock valuation, and stakeholder perception, focusing on its implications for capital market efficiency and corporate governance.The aim : is to investigate the moderating role of XBRL adoption in the relationship between ESG metrics and financial performance, as measured by Tobin’s Q and Z-Score, as well as stakeholder perception, proxied by shareholder fund turnover, and stock valuation. Additionally, this study seeks to explore how firm size impacts these relationships, and how public sentiment, gathered through netnographic observations, further influences the dynamics between ESG performance, financial outcomes, and stock valuation..The methods : This research involves a two-phase approach: the Quantitative Phase uses statistical tools to analyze the impact of XBRL adoption on ESG metrics, stock valuation, and stakeholder perception using financial data and regression analysis. The Qualitative Phase employs netnographic research, including social media and Google Trends data, to assess stakeholder sentiment. Joint display analysis will integrate both quantitative and qualitative findings. Control variables, such as firm size, will be considered to evaluate their moderating effect.The outputs : the identification of both the direct and moderating effects of XBRL adoption on the relationship between ESG metrics and financial performance. It will provide insights into how XBRL adoption influences stakeholder perception and stock valuation, offering a clearer understanding of its impact on capital market dynamics. The study will also develop a comprehensive framework for integrating XBRL into ESG reporting practices to improve transparency and facilitate better investor decision-making. Additionally, netnographic research will offer valuable insights into public sentiment on ESG practices, deepening our understanding of stakeholder engagement. Finally, the study will present recommendations for policymakers and firms on effectively adopting XBRL for ESG reporting to enhance market efficiency and corporate governance.

• semanticscholar https://doi.org/10.22201/fca.24488410e.2026.5757first seen 2026-08-20 05:27:32 · last seen 2026-09-22 05:22:21