インドネシア証券取引所（IDX）上場鉱業企業の企業価値に対するESGスコア、収益性、企業規模、取締役会のジェンダー多様性の影響
The Influence of ESG Score, Profitability, Firm Size, and Board Gender Diversity on the Firm Value of Mining Companies Listed on the Indonesia Stock Exchange (IDX) (原題)
Ryan Jeremy Partogi Marpaung, Zaenal Abidin
🤖 gxceed AI 要約
日本語
インドネシアの鉱業セクター上場企業を対象に、ESGスコア・収益性・企業規模・取締役会ジェンダー多様性が企業価値（Tobin's Q）に与える影響を2021〜2024年で検証。ESGスコアと収益性は負だが非有意、企業規模は負で有意、ジェンダー多様性は正だが非有意。新興国におけるESG評価と市場価値の乖離を示す実証例。
English
Panel regression on Indonesian listed mining firms (2021–2024) tests ESG score, profitability, firm size, and board gender diversity against firm value (Tobin's Q). ESG score and profitability show negative but insignificant effects; firm size is negative and significant; gender diversity is positive but insignificant. Offers emerging-market evidence on the ESG–valuation link under OJK disclosure rules.
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ESG開示と企業価値の関係を示す事例として、SSBJ基準導入後の日本企業が直面しうる「ESG評価と市場評価のタイムラグ」を考える参照点になる。
In the global GX context
Adds emerging-market evidence to the global debate on whether ESG ratings translate into market value, complementing TCFD/ISSB-aligned disclosure research that is still dominated by developed-market samples.
👥 読者別の含意
🔬研究者:新興国・資源セクターにおけるESGスコアと企業価値の非有意な関係を示す実証データとして参照可能。
🏢実務担当者:ESGスコア向上が短期的な市場評価に直結しない可能性を、投資家対応の期待値設定に活用できる。
🏛政策担当者:OJKの開示義務化が市場評価に与える効果の限界を示し、開示制度設計の参考になる。
📄 Abstract（原文）
The acceleration of sustainability principles implementation in Indonesia is closely linked to the policies of the Financial Services Authority (OJK) through POJK Number 51/POJK.03/2017. This study applies a quantitative design with an associative approach to evaluate the effect of Environmental, Social, and Governance (ESG) scores, profitability, firm size, and Board Gender Diversity on firm value. The observation focus is directed at mining sectors listed on the Indonesia Stock Exchange (IDX) during the 2021–2024 period. Through the purposive sampling method, research samples that meet the predetermined criteria were obtained. Secondary data consisting of annual reports, sustainability reports, and stock price movements were analyzed using a panel data regression model supported by EViews 12 statistical software. The classical assumption test results indicate that the residual variance is homoscedastic, free from multicollinearity, and normally distributed. The partial inferential analysis results show that the ESG score and profitability contribute negatively but have no significant effect on firm value projected through the Tobin’s Q ratio. Meanwhile, firm size contributes negatively and significantly affects firm value. Conversely, Board Gender Diversity contributes positively but has not shown a statistically significant effect on the market valuation of entities in this sector. Simultaneously, all independent variables are highly capable of explaining fluctuations in firm value, thereby serving as a strategic reference for corporate management and investors in sustainability-based decision-making..
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.37012/ileka.v7i2.3546first seen 2026-09-19 05:11:51
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