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インドネシア証券取引所に上場するテクノロジーセクター企業（2022-2024年）におけるサステナビリティレポート開示が財務パフォーマンスに与える影響：レバレッジを調整変数として

Pengaruh Pengungkapan Sustainability Report terhadap Kinerja Keuangan dengan Leverage sebagai Variabel Moderasi pada Perusahaan Sektor Teknologi yang Terdaftar di Bursa Efek Indonesia Periode 2022-2024 (原題)

Rada Nurtri Arlinda, Khoirul Fatah

Al-Kharaj Jurnal Ekonomi Keuangan & Bisnis Syariah📚 査読済 / ジャーナル2026-10-05#ESG経営インパクト: 資金調達対象セクター: technology
DOI: 10.47467/alkharaj.v8i10.13420
原典: https://doi.org/10.47467/alkharaj.v8i10.13420

🤖 gxceed AI 要約

日本語

インドネシア証券取引所のテクノロジー企業を対象に、GRI基準のサステナビリティレポート開示指数（SRDI）がROAで測る財務パフォーマンスに与える影響を検証。レバレッジ（DER）の調整効果もパネルデータ回帰とMRAで分析する。シグナリング理論・正当性理論の文脈で開示の実務的含意を示すことを狙う。

English

Examines whether GRI-based sustainability report disclosure (SRDI) affects financial performance (ROA) among Indonesian technology firms listed on IDX, 2022-2024. Uses panel regression and moderated regression analysis to test leverage (DER) as a moderator, framed through signaling and legitimacy theory.

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

新興国におけるGRI準拠開示と財務パフォーマンスの関係を実証する点で、SSBJ・有報開示の効果検証を進める日本企業・投資家にとって比較材料となる。ただしインドネシア固有の制度文脈が強く、日本への直接示唆は限定的。

In the global GX context

Adds emerging-market evidence to the global debate on whether sustainability disclosure pays off financially, relevant to ISSB/CSRD-era cost-benefit discussions. Its GRI-based index and leverage moderation offer a replicable design for cross-country comparison.

👥 読者別の含意

🔬研究者:Provides a replicable GRI-index + MRA design for testing disclosure–performance links in emerging markets.

🏢実務担当者:Suggests how leverage levels may condition the financial payoff of sustainability reporting for tech firms.

🏛政策担当者:Offers evidence on whether mandatory-style GRI disclosure correlates with firm performance in an emerging market.

📄 Abstract（原文）

This study aims to examine the effect of sustainability report disclosure on financial performance, as well as test whether leverage is able to moderate the relationship between the two variables in technology sector companies listed on the Indonesia Stock Exchange (IDX) for the period 2022-2024. This study uses a quantitative approach with a causality design. The research population includes all technology sector companies listed on IDX, with samples determined through targeted sampling techniques based on specific criteria. The data used is secondary data derived from the company's annual report and sustainability report. The sustainability report disclosure variables are measured using the Sustainability Report Disclosure Index (SRDI) based on the GRI Standards indicator, financial performance is proxied by Return on Assets (ROA), and leverage is proxied by the Debt to Equity Ratio (DER). The data analysis technique used was panel data regression analysis followed by Moderate Regression Analysis (MRA) to test the role of leverage moderation. The results of this study are expected to make a theoretical contribution to the development of signal theory and legitimacy theory in the context of technology companies, as well as provide practical implications for management and investors in assessing the relevance of sustainability disclosures to the company's financial performance.

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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。