Biaya lingkungan dan sustainability report terhadap kinerja keuangan: Bukti empiris subsektor batubara di Bursa Efek Indonesia (2019–2024)
環境コストとサステナビリティ報告が財務業績に与える影響：インドネシア証券取引所の石炭サブセクターにおける実証的証拠（2019-2024） (AI 翻訳)
Helmi Nasrullah Muhammad, Fanda D. P. Rundengan
🤖 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サブセクター企業23社（2019-2024年、115企業年）を対象に、環境コストとサステナビリティ報告の開示がROAに与える影響を検証した。重回帰分析の結果、環境コストはROAに有意な負の影響を与える一方、サステナビリティ報告の開示は有意な影響を示さなかった。両変数でROAの変動の8.9%しか説明できず、環境コストの戦略的管理の重要性が示唆された。
English
This study examines the impact of environmental costs and sustainability report disclosure on financial performance (ROA) for 23 coal subsector companies listed on the Indonesia Stock Exchange from 2019 to 2024, using 115 firm-year observations. Multiple regression reveals that environmental costs have a significant negative effect on ROA, while sustainability report disclosure has no significant effect. The two variables explain only 8.9% of ROA variation, highlighting the need for strategic management of environmental costs.
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
インドネシアの石炭企業を対象とした実証研究であり、日本企業への直接的な示唆は限定的。ただし、環境コストが財務業績に与える影響は、日本のエネルギー・資源関連企業が脱炭素投資を進める際の参考となる。また、SSBJ開示が進む中で、開示と財務業績の関連性が弱いという結果は、開示の実効性を考える上で示唆に富む。
In the global GX context
This study provides empirical evidence from an emerging market (Indonesia) on the relationship between environmental costs and financial performance in a high-carbon sector. While the finding that sustainability disclosure has no significant effect on ROA may reflect market context, it contributes to the global discussion on the value relevance of sustainability reporting, particularly under ISSB/CSRD frameworks. The negative impact of environmental costs on profitability underscores the financial materiality of decarbonization pressures.
👥 読者別の含意
🔬研究者:Provides empirical evidence on the environmental cost-financial performance link in a coal subsector, useful for comparative studies in other emerging markets.
🏢実務担当者:Highlights the need to strategically manage environmental costs to mitigate negative impacts on profitability, relevant for companies facing decarbonization pressures.
🏛政策担当者:Suggests that sustainability disclosure alone may not drive financial performance, implying the need for stronger regulatory or market incentives.
📄 Abstract（原文）
Although the effect of green accounting on financial performance has been widely studied, research focusing specifically on the coal subsector, which faces higher environmental-regulation intensity and decarbonisation pressure than other mining subsectors remains limited. This study examines the effect of environmental costs and sustainability report disclosure on the financial performance of coal-subsector companies listed on the Indonesia Stock Exchange over the 2019–2024 period. A quantitative approach was applied using secondary data from financial statements and Corporate Social Responsibility (CSR) reports. From a population of 34 companies, 23 were selected through purposive sampling, yielding 115 firm-year observations. Multiple linear regression shows that environmental costs have a significant negative effect on Return on Assets (ROA), with a significance value of 0.001 (<0.05), whereas sustainability report disclosure has no significant effect (significance value 0.675 > 0.05). The two variables jointly explain only 8.9% of the variation in ROA (F-test significance 0.005 < 0.05). The findings underline the importance of managing environmental costs strategically to improve operational efficiency and profitability, and highlight the need for firms to integrate sustainability disclosure into their core business strategy.
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.58784/rapi.482first seen 2026-08-05 05:01:50
🔔 こうした論文の新着を逃したくない方は キーワードアラート に登録（無料・3キーワードまで）。
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。