Pengaruh Artificial Intelligence Disclosure dan ESG Disclosure terhadap Nilai Perusahaan dengan Moderasi Ukuran Perusahaan
人工知能開示とESG開示が企業価値に与える影響：企業規模の調整効果 (AI 翻訳)
Hamidah Nurhayati, Muslimin Muslimin, Fajrin Satria Dwi Kesumah
🤖 gxceed AI 要約
日本語
本研究は、インドネシア証券取引所のESGリーダーズ指数に上場する30社のパネルデータ（2021-2025年）を用いて、AI開示とESG開示が企業価値に与える影響を分析した。固定効果モデルによる回帰分析の結果、単独では有意な影響は見られないが、企業規模が大きいほどESG開示の正の効果が強まることが示された。新興国における開示実務への示唆を提供する。
English
This study analyzes panel data from 30 firms listed on the IDX ESG Leaders Index (2021-2025) to examine the impact of AI and ESG disclosure on firm value. Using fixed-effects regression, it finds no significant standalone effects, but firm size strengthens the positive link between ESG disclosure and firm value. Offers insights for disclosure practice in emerging markets.
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、AI活用を含む非財務情報の開示が注目される中、本研究成果は開示の企業価値への影響を実証する点で参考になる。ただし、インドネシア市場のデータに基づくため、日本への適用には制度的差異を考慮する必要がある。
In the global GX context
As ISSB and CSRD push for integrated sustainability and technology disclosures, this study provides empirical evidence from an emerging market on how AI and ESG disclosures affect firm value, moderated by firm size. It contributes to the global discourse on disclosure effectiveness and the value relevance of non-financial information.
👥 読者別の含意
🔬研究者:Provides empirical evidence on AI and ESG disclosure value relevance in an emerging market, useful for comparative studies.
🏢実務担当者:Suggests that larger firms can leverage ESG disclosure to enhance market value, informing disclosure strategies.
🏛政策担当者:Highlights the role of firm size in moderating disclosure benefits, relevant for designing disclosure regulations.
📄 Abstract（原文）
This study attempts to explore the influence of Artificial Intelligence (AI) Disclosure and Environmental, Social, and Governance (ESG) Disclosure on firm value, with firm size as a moderating variable. As digital transformation and sustainability practices have become increasingly crucial in strengthening corporate competitiveness, firms are expected to give comprehensive disclosures regarding AI adoption and ESG performance to create added value for investors and other stakeholders. This research takes a quantitative approach employing panel data from 30 company listed on the ESG Leaders Index of the IDX over the 2021-2025 period. Purposive sampling was used to choose the sample, and after outlier treatment, 130 observations were obtained. Panel data regression utilizing the Moderated Regression Analysis (MRA) method with the Fixed Effect Model (FEM) was used to evaluate the data. The results show that ESG and AI disclosure do not significantly impact corporate value on their own. Moreover, the association between AI disclosure and firm value is not moderated by firm size. However, the positive correlation between ESG disclosure and firm value is considerably strengthened by firm size, suggesting that larger firms are better equipped to convert sustainability disclosures into higher market price. These results add to the body of knowledge regarding business value, sustainability, and corporate disclosure in emerging countries.
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.61132/moneter.v4i3.2458first seen 2026-08-01 05:52:23
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gxceed は公開メタデータに基づく研究支援データセットです。要約・翻訳・解説は AI 支援で生成されています。 最終的な解釈・検証は利用者が原典資料に基づいて行うことを前提とします。