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The Effect of ESG Disclosure and R&D Intensity on Financial Performance: The Moderating Role of Board Gender Diversity

ESG開示と研究開発強度が財務業績に与える影響：取締役会のジェンダー多様性の調整役割 (AI 翻訳)

Yeney Widya Prihatiningtias, Ni Made Ananda Saraswati

International Journal of Social Science and Businessプレプリント2025-08-14#ESG
DOI: 10.23887/ijssb.v9i3.94211
原典: https://doi.org/10.23887/ijssb.v9i3.94211

🤖 gxceed AI 要約

日本語

インドネシア製造業162社のデータを用い、ESG開示と研究開発強度が財務業績に与える影響、および取締役会のジェンダー多様性の調整効果を分析。環境・社会開示はROA・ROEに、ガバナンス開示はトービンのQに正の影響。ジェンダー多様性は一部の関係を強化。

English

Using data from 162 Indonesian manufacturing firms (2021-2023), this study examines the effects of ESG disclosure and R&D intensity on financial performance, with board gender diversity as moderator. Environmental and social disclosures positively affect ROA and ROE; governance disclosure positively affects Tobin's Q. Gender diversity strengthens certain positive effects.

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

インドネシア市場におけるESG開示の財務効果を実証。日本の製造業にも示唆があるが、制度環境が異なるため直接適用は困難。

In the global GX context

Provides empirical evidence from an emerging market on the financial benefits of ESG disclosure and innovation. Useful for global ESG research but context-specific.

👥 読者別の含意

🔬研究者:ESG開示と財務業績の関係におけるジェンダー多様性の調整効果に関する新興国エビデンス。

🏢実務担当者:ESG情報開示と研究開発投資の財務価値を示すが、インドネシア特有の結果である点に留意。

🏛政策担当者:ESG開示と多様性促進の重要性を示す政策参考資料。

📄 Abstract（原文）

Despite its economic contribution, Indonesia’s manufacturing sector struggles with sustainability, innovation, and gender diversity, and the impact of these factors on financial performance remains unclear. This study examined the effects of environmental, social, and governance disclosure and research and development intensity on the financial performance of manufacturing companies in Indonesia, and assessed whether gender diversity on the board of directors moderated these relationships. Data from 162 manufacturing firms listed on the Indonesia Stock Exchange during 2021–2023 were analyzed using multiple regression and moderated regression analysis. The results showed that environmental and social disclosures positively influenced return on assets and return on equity, while governance disclosure positively affected Tobin’s Q. Research and development intensity had a positive effect on all financial performance indicators. Gender diversity on the board strengthened the positive effects of social and governance disclosures on return on assets and Tobin’s Q, and also enhanced the impact of research and development intensity on Tobin’s Q. These findings indicated that transparent sustainability reporting and innovation investment improved both accounting-based and market-based performance, and that diverse boards amplified certain strategic impacts. The study concluded that integrating sustainability practices and innovation with gender-diverse leadership contributed to better financial outcomes, offering practical implications for managers, investors, and policymakers seeking to enhance governance and long-term corporate value.

🔗 Provenance — このレコードを発見したソース

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