Pengungkapan Environmental, Social, and Governance (ESG) terhadap Nilai Perusahaan dengan Ekspor sebagai Variabel Moderasi pada Perusahaan Sektor Energi di Bursa Efek Indonesia Periode Tahun 2020-2024
ESG開示が企業価値に与える影響：輸出の調整効果－インドネシア証券取引所のエネルギーセクター企業2020-2024年 (AI 翻訳)
Muhammad Kelvin Andika, Pigo Nauli
🤖 gxceed AI 要約
日本語
本研究は、インドネシアのエネルギー企業を対象に、ESG開示が企業価値に与える影響を、輸出を調整変数として分析。2020-2024年のデータを用いた定量分析の結果、ESG開示は企業価値に正の影響を与え、輸出がその関係を強化することが示された。国際市場向けの企業はESG開示を促進し、企業価値向上につながる。
English
This study analyzes the effect of ESG disclosure on firm value with exports as a moderator for Indonesian energy sector companies (2020-2024). Using GRI standards and regression analysis, it finds that ESG disclosure positively affects firm value, and exports strengthen this relationship. The findings highlight the strategic role of ESG disclosure for firms in emerging markets, especially those engaged in international trade.
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
インドネシアのエネルギー企業に焦点を当てた研究だが、日本の投資家や日本企業が新興国市場でESG評価を行う際の参考情報となる。特に、輸出企業におけるESG開示の促進効果は、グローバルサプライチェーンに関与する日本企業にも示唆を与える。
In the global GX context
This paper contributes to the global discourse on ESG disclosure and firm value by providing evidence from an emerging market. It demonstrates how export orientation can amplify the value relevance of ESG, which is relevant for international investors and multinational corporations assessing ESG practices in supply chains.
👥 読者別の含意
🔬研究者:Provides empirical evidence on ESG disclosure–firm value link in an understudied market (Indonesia), with exports as a novel moderator.
🏢実務担当者:Supports the business case for enhanced ESG disclosure, especially for export-oriented firms seeking to attract international investors.
🏛政策担当者:Highlights the role of international trade in incentivizing corporate sustainability practices in emerging economies.
📄 Abstract（原文）
This study aims to analyze the effect of Environmental, Social, and Governance (ESG) disclosure on firm value with exports as a moderating variable in energy sector companies listed on the Indonesia Stock Exchange during the 2020–2024 period. ESG disclosure has become an important issue in modern business practices because investors increasingly consider sustainability aspects in making investment decisions. This research uses a quantitative approach with secondary data obtained from annual reports and sustainability reports of energy sector companies listed on the Indonesia Stock Exchange. Firm value is measured using Price to Book Value (PBV), ESG disclosure is measured using the Global Reporting Initiative (GRI) Standards 2021 indicators, and exports are used as moderating variables. The analysis technique uses multiple linear regression and Moderated Regression Analysis (MRA). The results indicate that ESG disclosure has a positive effect on firm value. Companies with higher ESG disclosure tend to have better investor confidence and higher market value. In addition, exports strengthen the relationship between ESG disclosure and firm value because companies involved in international markets are encouraged to improve sustainability practices to meet global standards. The findings imply that ESG disclosure is not only a form of corporate responsibility but also a strategic instrument in increasing competitiveness and company value.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.47861/sammajiva.v4i2.2435first seen 2026-06-30 05:35:48
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