The Effect of Profitability and Leverage on Firm Value With ESG Disclosure as a Mediating Variable in Coal, Metal and Mineral Sub-Sector Companies
収益性とレバレッジが企業価値に及ぼす影響：石炭・金属・鉱物サブセクター企業におけるESG開示の媒介変数としての役割 (AI 翻訳)
Anindya Cresentia Bariq, Krisdiana
🤖 gxceed AI 要約
日本語
本研究は、インドネシア証券取引所に上場する石炭・金属・鉱物サブセクターの鉱業企業14社を対象に、収益性とレバレッジが企業価値に与える影響をESG開示が媒介するかを分析した。結果、収益性は企業価値に正の影響を与えるが、ESG開示は媒介効果を持たず、レバレッジはESG開示に影響するものの企業価値には直接影響しないことが示された。
English
This study examines the mediating role of ESG disclosure on the relationship between profitability, leverage, and firm value in 14 Indonesian mining companies (coal, metal, mineral) listed on the IDX from 2020-2024. Findings show profitability positively affects firm value, but ESG disclosure does not mediate; leverage affects ESG disclosure but not firm value directly.
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
本論文はインドネシアの鉱業セクターを対象としているが、日本企業が同地域の資源投資を行う際のESG開示の実効性を評価する参考となる。日本のSSBJや有報におけるESG情報の位置づけを再考する材料としても有益。
In the global GX context
This paper provides empirical evidence from an emerging market on the limited mediating role of ESG disclosure in the mining sector, relevant for global discussions on the value relevance of ESG practices under ISSB and CSRD frameworks.
👥 読者別の含意
🔬研究者:Provides empirical evidence on ESG disclosure as a mediator in the mining sector, contributing to the ESG-finance literature in emerging markets.
🏢実務担当者:Suggests that improving profitability may have a more direct impact on firm value than ESG disclosure alone, though ESG remains a compliance factor.
📄 Abstract（原文）
This study aims to determine the influence of profitability and leverage on firm value mediated by ESG Disclosure in mining companies in the coal, metal, and mineral sub-sector listed on the Indonesia Stock Exchange for the 2020-2024 period. The data used is secondary data from the annual financial statements and sustainability reports. This study uses descriptive and verifiable methods. The sample used was purposive sampling with a total of 14 companies that met the criteria for the 2020-2024 research period. The analysis technique used Structural Equation Modeling–Partial Least Squares (SEM-PLS) with the help of SmartPLS software. The results of the study show that profitability has a positive and significant effect on the firm value, while leverage does not have a significant effect on the firm value. Profitability has no significant effect on ESG Diclosure, while leverage has a significant effect on ESG Diclosure. Furthermore, ESG Diclosure does not have a significant effect on the firm value. The results of the mediation test showed that ESG Diclosure was unable to mediate the influence of profitability and leverage on the firm value. The findings of this study show that the value of mining sector companies is more influenced by financial performance, especially profitability, than by ESG practices. In addition, ESG has not acted as a mediation mechanism between profitability and leverage on firm value. This research is expected to contribute to the development of the literature and become a consideration for management and investors.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://journal.formosapublisher.org/index.php/ijba/article/download/16519/16249first seen 2026-07-13 06:49:24
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