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Pengaruh Financial Performance dan Sustainability Report terhadap Firm Value pada Perusahaan Sektor Energi dan Industri yang Terdaftar di Bursa Efek Indonesia Tahun 2022-2024

財務業績とサステナビリティ報告が企業価値に与える影響：2022-2024年インドネシア証券取引所上場のエネルギー・産業セクター企業を対象に (AI 翻訳)

Yoan Eko Saputra, Fitrini Mansur, Muhammad Ridwan

Jurnal Riset Akuntansi📚 査読済 / ジャーナル2026-06-26#ESG対象セクター: energy
DOI: 10.54066/jura-itb.v4i3.4141
原典: https://doi.org/10.54066/jura-itb.v4i3.4141

🤖 gxceed AI 要約

日本語

本稿は、インドネシア証券取引所に上場するエネルギー・産業セクター40社を対象に、財務業績（流動比率、ROA、負債比率）とサステナビリティ報告開示指数（SRDI）が企業価値（トービンのQ）に与える影響を分析。重回帰分析の結果、SRDIと流動比率は企業価値に正の影響を与える一方、ROAは負の影響、負債比率は有意な影響なし。投資家が財務情報だけでなくサステナビリティ開示も重視することを示唆。

English

This study analyzes the impact of financial performance (Current Ratio, ROA, Debt to Assets Ratio) and Sustainability Report Disclosure Index (SRDI) on firm value (Tobin's Q) for 40 energy and industrial sector firms listed on the Indonesia Stock Exchange from 2022-2024. Multiple linear regression shows that SRDI and Current Ratio positively affect firm value, while ROA has a negative effect and DAR is insignificant. Findings suggest investors consider sustainability disclosure alongside financial metrics.

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

インドネシア市場におけるサステナビリティ報告と企業価値の関連を示す実証研究。日本ではSSBJ基準の導入が進む中、新興国での開示効果を理解する参考になるが、日本企業に直接適用できる知見は限定的。

In the global GX context

This empirical study from Indonesia adds to the global evidence on the value relevance of sustainability reporting, particularly in an emerging market context. While not directly transferable to developed markets with mature disclosure regimes (e.g., under TCFD/ISSB), it reinforces that sustainability disclosure can influence firm valuation.

👥 読者別の含意

🔬研究者:Provides emerging-market evidence on the link between sustainability disclosure and firm value, useful for comparative ESG research.

📄 Abstract（原文）

This study aims to examine the effect of financial performance, proxied by Current Ratio (CR), Return on Assets (ROA), Debt to Assets Ratio (DAR), and Sustainability Report (SRDI) on firm value measured using Tobin’s Q in energy and industrial sector companies listed on the Indonesia Stock Exchange during 2022-2024. This research employs a quantitative approach using secondary data obtained from annual reports and sustainability reports. The sample was selected using a purposive sampling method, resulting in 40 companies observed over a three-year period. Data were analyzed using multiple linear regression. The findings indicate that CR, ROA, DAR, and SRDI simultaneously have a significant effect on firm value. Partially, Current Ratio has a positive effect on firm value, Return on Assets has a negative effect on firm value, Debt to Assets Ratio has no significant effect on firm value, while Sustainability Report Disclosure Index has a positive effect on firm value. These findings suggest that investors consider not only financial performance but also sustainability disclosure in evaluating corporate value.

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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。