How ESG Disclosure Shapes Financial Resilience and Market Value of Indonesian Banks?
ESG開示はインドネシアの銀行の財務レジリエンスと市場価値をどう形成するか？ (AI 翻訳)
Sulaiman Sulaiman, Riana Mayasari, Indra Satriawan, Nurul Aulia Rahma, Rachmat Syawal, Rami Pebrian, R.A.Rahma Wahyuni
🤖 gxceed AI 要約
日本語
本研究は、2021～2022年のインドネシア上場銀行を対象に、ESG開示がROA、PBV、ROEに与える影響を分析。その結果、ESG開示はROEに有意な正の影響を与えるが、ROAやPBVには有意な影響が見られなかった。これはESG情報の透明性が株主志向の業績向上に寄与することを示唆する。
English
This study examines the impact of ESG disclosure on financial performance (ROA, PBV, ROE) of Indonesian banks from 2021–2022. Using Pearson correlation and regression, it finds that ESG disclosure significantly and positively affects ROE, but not ROA or PBV. The results suggest that ESG transparency benefits shareholder-oriented metrics more than asset efficiency or market valuation.
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
インドネシアという新興市場におけるESG開示の財務効果を検証した点が意義深い。日本企業のESG戦略や開示実務にも参考となるが、SSBJなどの国内基準との直接的な関連は薄い。
In the global GX context
This paper provides empirical evidence from an emerging market (Indonesia) on the selective financial impact of ESG disclosure, supporting the view that ESG transparency enhances investor confidence. It adds to the global debate on the materiality of ESG factors, particularly relevant for jurisdictions developing disclosure mandates like ISSB and CSRD.
👥 読者別の含意
🔬研究者:Provides emerging-market evidence on the selective financial effects of ESG disclosure, useful for cross-country comparisons.
🏢実務担当者:Highlights that ESG disclosure may primarily affect equity returns, guiding investor relations and reporting priorities.
🏛政策担当者:Supports the case for strengthening ESG reporting standards to enhance investor confidence and sustainable growth.
📄 Abstract（原文）
The purpose of this study is to investigate the impact of ESG Disclosure on business financial performance, as measured by Return on Assets (ROA), Price to Book Value (PBV), and Return on Equity (ROE). The study’s population comprises all banking companies that were listed on the Indonesia Stock Exchange (IDX) during the 2021–2022 period. The sample was selected using a purposive sampling technique based on the criteria of Sustainability Report availability and complete financial data, yielding a total of 92 panel data observations. The research method is quantitative, utilizing Pearson correlation and simple regression analysis. The results show that ESG Disclosure has a beneficial and statistically significant impact on ROE (p = 0. 0164), but not on ROA (p = 0.1161) or PBV (p = 0. 3187). These findings indicate that the financial impact of ESG disclosure is selective, where the benefits are more evident in shareholder-oriented performance rather than in asset efficiency or market valuation. The results highlight the importance of ESG transparency for enhancing investor confidence and sustainable financial growth in the Indonesian banking sector. These findings provide valuable insights for regulators and policymakers to strengthen ESG reporting standards and for investors to integrate sustainability information into financial decision-making.
🔗 Provenance — このレコードを発見したソース
- openaire https://doi.org/10.33395/owner.v10i1.2851first seen 2026-05-14 22:10:55
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