Pengaruh Struktur Permodalan, Dewan Komisaris Independen, Dan Pengungkapan Kinerja ESG Terhadap Nilai Perusahaan Di Sektor Makanan Dan Minuman Di Bursa Efek Indonesia
資本構成、独立取締役会、およびESGパフォーマンスの開示がインドネシア証券取引所の食品・飲料セクターの企業価値に与える影響 (AI 翻訳)
Gede Aditya Putra Utaman, Ketut Tanti Kustina
🤖 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食品・飲料企業の資本構成、独立取締役会、ESGパフォーマンス開示が企業価値に与える影響を分析した。2022-2023年のデータを用いた重回帰分析の結果、資本構成は企業価値に影響を与えないが、独立取締役会とESG開示は正の有意な影響を示した。投資家はESG開示と独立取締役の数を重視していることが示唆される。
English
This study analyzes the influence of capital structure, independent board of commissioners, and ESG performance disclosure on firm value of food and beverage companies listed on the Indonesia Stock Exchange (2022-2023). Using multiple linear regression, it finds that capital structure has no effect, while independent board and ESG disclosure positively and significantly affect firm value. Investors consider ESG disclosure and board independence as key factors.
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
インドネシア市場の事例だが、日本企業が東南アジアでESG開示を強化する際の参考になる。日本の有報やSSBJとは直接関係ないが、新興国におけるESGと企業価値の関係を示す実証研究として価値がある。
In the global GX context
This study provides empirical evidence from an emerging market (Indonesia) on the value relevance of ESG disclosure, complementing global findings that are often based on developed economies. It suggests that independent board and ESG disclosure matter for firm valuation, which aligns with global trends like ISSB and CSRD.
👥 読者別の含意
🔬研究者:Provides evidence from Indonesia on ESG disclosure-firm value link, useful for comparative studies across emerging markets.
🏢実務担当者:Shows that food and beverage firms in Indonesia can enhance firm value through ESG disclosure and board independence.
📄 Abstract（原文）
This study aims to analyze the influence of capital structure, independent board of commissioners, and environmental, social, and governance performance disclosure on the value of food and beverage companies listed on the Indonesia Stock Exchange during the 2022-2023 period. Capital structure is measured by the Debt to Equity Ratio (DER). The board of independent commissioners is measured by the number of commissioners divided by the independent commissioners. Disclosure of environmental, social, and governance performance measured by ESG scores. The company's value is proxied using Price to Book Value (PBV). This study uses a quantitative approach with multiple linear regression method to test the relationship between variables. The data used are secondary data obtained from the financial statements of food and beverage companies listed on the Indonesia Stock Exchange and ESG disclosure reports for food and beverage listed on the BGK Foundation. Samples were determined by purposive sampling method. The results of the analysis show that the capital structure has no effect on the value of the company. The independent board of commissioners and the disclosure of ESG performance show a positive and significant influence on the company's value. These findings indicate that the number of independent commissioners and ESG performance disclosures are the main factors that investors consider in assessing a company's performance, while capital structure has a more limited role in determining the value of the company.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://www.ejournal.warmadewa.ac.id/index.php/wmbj/article/download/14526/7273first seen 2026-07-18 07:59:42 · last seen 2026-07-18 07:59:54
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