The Impact of Company Size, Beta, and ESG Ratings on the Efficiency of Palm Oil Companies Listed on the IDX during Crisis Periods
危機期におけるIDX上場パーム油企業の効率性に及ぼす企業規模、ベータ、ESG格付けの影響 (AI 翻訳)
Erika Pritasari Wybawa, M. Roby Yuliansyah
🤖 gxceed AI 要約
日本語
本研究は、COVID-19危機期を含む2019〜2023年のインドネシア証券取引所上場パーム油企業20社を対象に、企業規模、ベータ、ESG格付けが効率性に与える影響をDEA二重ブートストラップ法で分析。企業規模は効率性に有意な影響を与えず、ベータは負の影響、ESG格付け取得企業は非取得企業より効率的であることを示した。ESG統合の重要性を実証し、政策立案への示唆を提供する。
English
This study analyzes 20 palm oil companies listed on the Indonesia Stock Exchange (2019-2023) using DEA double bootstrap. Company size has no significant effect on efficiency, while Beta negatively impacts it. ESG-rated firms outperform non-rated ones, highlighting the benefits of sustainable practices. Findings support ESG integration for resilience and policy formulation.
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評価と企業価値の関連性への関心が高い。本研究成果は、新興市場におけるESG統合の効果を示すもので、日本企業のサプライチェーンにおけるパーム油調達先の評価や、ESG投資判断に参考となる。
In the global GX context
This study provides empirical evidence from an emerging market on how ESG ratings correlate with firm efficiency during crises, complementing global discussions on ESG materiality and resilience. It offers insights for investors and policymakers on the value of ESG integration in agricultural supply chains.
👥 読者別の含意
🔬研究者:Provides empirical evidence on ESG-efficiency link in an emerging market context, useful for comparative studies.
🏢実務担当者:Highlights the operational benefits of ESG ratings, supporting corporate sustainability strategy and investor communication.
🏛政策担当者:Suggests that promoting ESG disclosure and ratings can enhance sector resilience, informing policy design.
📄 Abstract（原文）
The palm oil industry proves to be a resilient sub-sector of agriculture, particularly during the COVID-19 crisis, contributing significantly to Indonesia's national GDP and supporting financial recovery in the post-pandemic period. This research examines the influence of company size, Beta (stock volatility), and ESG ratings on the efficiency scores of palm oil companies. A total of 20 entities listed on the Indonesia Stock Exchange (IDX) are analyzed over a 5-year period (2019–2023), including 9 ESG-rated companies. A DEA double bootstrap with left-truncated linear regression at 1 is employed to estimate the model. The results show that company size does not significantly affect efficiency, while Beta negatively impacts efficiency, indicating that higher volatility reduces performance. ESG-rated companies consistently outperform non-rated counterparts, demonstrating the positive effects of sustainable practices. This study provides a novel contribution, as no previous research explores these variables in Indonesia's palm oil industry. The findings offer valuable insights for industry practitioners and policymakers, emphasizing the importance of ESG integration for improved efficiency and sustainable growth, and supporting the formulation of policies to enhance the sector's resilience in future crises.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.22302/iopri.jur.jpks.v34i1.305first seen 2026-07-31 07:10:36 · last seen 2026-08-01 06:46:20
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