IMPACT OF ESG DISCLOSURE ON STOCK RETURNS IN COMPANIES LISTED ON INDONESIA STOCK EXCHANGE
インドネシア証券取引所上場企業におけるESG開示が株式リターンに与える影響 (AI 翻訳)
Herly Nurlinda, Yanti Yanti
🤖 gxceed AI 要約
日本語
本研究は、インドネシア証券取引所上場企業のESG開示が株式リターンに与える影響を分析した。2022年から2024年の228のデータを線形回帰で分析し、ESG開示と株式リターンの間に正の有意な関係があることを確認した。シグナリング理論を支持し、ESG透明性の向上が投資家の信頼を高めることを示唆している。
English
This study analyzes the impact of ESG disclosure on stock returns for firms listed on the Indonesia Stock Exchange. Using 228 observations from 2022-2024 and linear regression, it finds a positive and significant relationship, supporting signaling theory. The findings highlight the strategic importance of ESG transparency for enhancing investor trust and investment attractiveness.
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
日本ではSSBJ開示が始まり、ESG情報の投資家評価が注目される中、新興国でのESG開示と株式リターンの正の関係を示す本研究成果は、日本企業の開示戦略にも示唆を与える。特に、ESG情報の質向上が資本コスト低減や投資家基盤拡大につながる可能性を示す点で参考になる。
In the global GX context
Globally, this study contributes to the growing literature on ESG disclosure and financial performance, particularly in emerging markets. It provides empirical evidence from Indonesia, supporting the business case for ESG transparency and aligning with global trends toward mandatory disclosure (ISSB, CSRD). The findings reinforce the value of ESG reporting for investor confidence and market performance.
👥 読者別の含意
🔬研究者:Provides empirical evidence on ESG disclosure and stock returns in an emerging market, useful for comparative studies and signaling theory validation.
🏢実務担当者:Highlights the potential financial benefits of robust ESG disclosure, supporting corporate strategies to enhance transparency and attract investment.
🏛政策担当者:Offers evidence that ESG disclosure can positively influence market performance, supporting policies that encourage or mandate ESG reporting.
📄 Abstract（原文）
As the growing concern over climate change and environmental issues, investors increasingly seek investments that not only to accumulate yield of stock returns but also to have a positive contribution harmoniously with the Sustainable Development Goals (SDGs) continuously. In the context within business and financial cores, the SDGs are supported by Environmental, Social, and Governance (ESG) disclosures, emerging to serves as a parameter for evaluating an organization’s contribution to environmental and social aspects through good corporate governance. The limited research on the relationship impact between ESG disclosure and stock returns in Indonesia has become the objective which aims the intention to analyze the effect of ESG disclosure on stock returns. This research employs secondary data sample obtained from listed firms on the Indonesia Stock Exchange (IDX) that published ESG scores between year of 2022 until 2024. A total of 228 data observations were analyzed using linear regression method. The research findings reveal a positive and statistically significant between ESG disclosure and stock returns in emerging country, Indonesia. These results support signaling theory, which suggests that the disclosure of non-financial information is able to enhance investor’s trust and confidence. Practically, the findings provide valuable higlights strategic importance of integrating ESG transparency into corporate governance management frameworks to improve the quality of ESG disclosure as a means of increasing and intensify investment attractiveness.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://journal.untar.ac.id/index.php/ijaeb/article/download/37965/23265first seen 2026-08-09 06:00:28
🔔 こうした論文の新着を逃したくない方は キーワードアラート に登録（無料・3キーワードまで）。
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。