The Role of Environmental, Social, and Governance in Moderating the Influence of Tax Avoidance and Financial Distress on Firm Value
税回避と財務苦境が企業価値に与える影響における環境・社会・ガバナンス（ESG）の調整役 (AI 翻訳)
Fitriyana Yana, Rosyid Nur Anggara Putra
🤖 gxceed AI 要約
日本語
インドネシア証券取引所に上場する非金融企業を対象に、税回避と財務苦境が企業価値に与える影響を分析し、ESG（環境・社会・ガバナンス）の調整効果を検証した。分析の結果、税回避は企業価値に有意な影響を与えなかったが、財務苦境は負の影響を与え、ESGは財務苦境の負の影響を弱めることが示された。
English
This study analyzes the influence of tax avoidance and financial distress on firm value, and examines the moderating role of ESG, using a sample of non-financial companies listed on the Indonesia Stock Exchange from 2020-2024. Results show tax avoidance has no significant effect on firm value, while financial distress has a negative effect. ESG weakens the negative impact of financial distress on firm value.
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焦点を当てた研究だが、日本企業が海外子会社でESGスコアを活用する際の参考になる可能性がある。ただし、日本のSSBJや有報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 on how ESG can mitigate the negative effects of financial distress on firm value. It contributes to the global ESG-finance literature, highlighting the importance of ESG beyond environmental performance.
👥 読者別の含意
🔬研究者:Adds to the ESG-finance nexus by testing moderation effects of ESG on tax avoidance and financial distress, offering a novel combination of variables in an emerging market context.
🏢実務担当者:Corporate sustainability managers can use this to argue for ESG investments as a buffer against financial distress impacts on firm value.
📄 Abstract（原文）
Purpose: This study aims to analyses the influence of tax avoidance and financial distress on firm value and the role of Environmental, Social, and Governance (ESG) as a moderator in non-financial companies listed on the Indonesia Stock Exchange in the 2020-2024 period. Method: This study is a quantitative study that uses secondary data from annual reports and ESG data from Bloomberg. The selection of companies was based on predetermined criteria using the purposive sampling method, which resulted in as many as 175 observations. This study was tested using panel data analysis and analysed by panel data regression with EViews 12 software. Findings: Based on the results of data analysis, it can be concluded that tax avoidance measured using ETR does not have a significant effect on the firm value. financial distress measured using Z-Score EMS has a significant negative effect on the firm value. ESG cannot moderate the influence of tax avoidance on firm value. ESG is able to weaken the negative influence of financial distress on firm value. Novelty: This study combines four variables (tax avoidance, financial distress, ESG, and firm value), which are still relatively rare, thus providing an opportunity to explore new relationships and find out how non-financial companies listed on the IDX can utilize ESG scores in weakening the influence of tax avoidance and financial distress on firm value.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://ejournal.uin-suka.ac.id/febi/JAI/article/download/3059/1450first seen 2026-07-18 08:18:19
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