Pengaruh Sustainability Report Dan Profitabilitas Terhadap Return Saham
サステナビリティレポートと収益性が株式リターンに与える影響 (AI 翻訳)
Baskara Ilham Prista, Wahidatul Husnaini, Robith Hudaya
🤖 gxceed AI 要約
日本語
この研究は、インドネシアの製造企業を対象に、サステナビリティ報告（GRI基準）と収益性（ROE）が株式リターンに与える影響を分析した。その結果、サステナビリティ報告は株式リターンに負の有意な影響を与える一方、ROEは有意な影響を与えないことが示された。
English
This study examines the effect of sustainability reporting (GRI index) and profitability (ROE) on stock returns of Indonesian manufacturing firms from 2019-2021. Findings show a negative significant effect of sustainability reporting on stock returns, while profitability has no significant effect.
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研究であり、日本のGX文脈に直接関連しないが、サステナビリティ報告が必ずしも株式リターンにプラスに働かない可能性を示す点は参考になる。
In the global GX context
This paper provides empirical evidence from an emerging market (Indonesia) on the relationship between sustainability disclosure and stock returns, contributing to the global discussion on the financial materiality of ESG reporting.
👥 読者別の含意
🔬研究者:Provides empirical evidence on the signaling effect of sustainability reporting in an Indonesian context.
📄 Abstract（原文）
This study aims to examine the effect of sustainability reporting and profitability on stock returns in manufacturing companies listed on the Indonesia Stock Exchange during the 2019–2021 period. The study is grounded in signaling theory, which explains that information disclosed by companies, including sustainability disclosures and profitability ratios, serves as a signal to investors in making investment decisions. The data used in this study are secondary data obtained from the official website of the Indonesia Stock Exchange and the respective companies’ websites. The sampling method employed was purposive sampling, resulting in a total of 126 observations. The independent variables in this study are sustainability reporting, measured using the GRI Standards index, and profitability, proxied by Return on Equity (ROE), while the dependent variable is stock return. The data were analyzed using descriptive statistics, Pearson correlation, and multiple linear regression analysis. The results indicate that sustainability reporting has a negative and significant effect on stock returns, while profitability proxied by ROE does not have a significant effect on stock returns. A limitation of this study lies in its relatively short observation period; therefore, future research is recommended to use a longer time horizon to obtain more comprehensive results.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.29303/risma.v6i1.2923first seen 2026-05-15 19:09:52 · last seen 2026-05-23 05:49:05
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