持続可能性報告と財務業績の関係における企業規模の調整効果
Peran Moderasi Firm Size pada Hubungan Sustainability Reporting terhadap Kinerja Keuangan (原題)
Hadi Sucipto, Gita Desipradani
🤖 gxceed AI 要約
日本語
インドネシア証券取引所上場のエネルギー企業64社・164観測を対象に、持続可能性報告がROAで測る財務業績に与える影響と企業規模の調整効果を検証。持続可能性報告単独では財務業績に有意な影響は見られなかったが、企業規模が正の調整効果を持ち、大企業ほど開示を業績に活かす能力が高いことを示す。
English
Using 64 Indonesian-listed energy firms (164 observations), this study tests whether sustainability reporting affects ROA and whether firm size moderates the link. Reporting alone shows no significant effect on financial performance, but firm size positively moderates the relationship, suggesting larger firms better convert disclosure into financial outcomes.
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基準・有報でのサステナ開示義務化が進み、開示と企業価値・財務業績の関係は投資家の関心事。新興国エネルギーセクターでの『規模が開示効果を左右する』知見は、日本企業の開示戦略やSSBJ対応の費用対効果を考える参照点になる。
In the global GX context
As ISSB/SSBJ-aligned disclosure becomes mandatory, evidence on whether reporting translates into financial performance matters for regulators and investors. This emerging-market energy-sector finding that firm size conditions the disclosure–performance link adds a size-heterogeneity angle to global disclosure scholarship, complementing CSRD/TCFD impact studies.
👥 読者別の含意
🔬研究者:開示と財務業績の関係における企業規模の調整効果を、新興国エネルギーセクターで示した実証例として参照できる。
🏢実務担当者:開示の財務効果は企業規模に依存しうるため、中小規模企業は開示の質・投資家対話の設計をより意識すべきという示唆。
🏛政策担当者:開示義務化の効果が企業規模で異なる可能性を踏まえ、中小上場企業への開示支援策を検討する材料になる。
📄 Abstract（原文）
This study aims to analyze the effect of Sustainability Reporting on financial performance with Firm Size as a moderating variable in energy sector companies listed on the Indonesia Stock Exchange. Financial performance is measured using Return on Assets (ROA). This study employed a quantitative approach with a purposive sampling technique. The sample consisted of 64 energy sector companies, resulting in a total of 164 observations after outlier elimination. Data were analyzed using multiple linear regression and Moderated Regression Analysis (MRA) with the assistance of SPSS version 25. The results show that Sustainability Reporting has no significant effect on corporate financial performance. This finding indicates that sustainability disclosure does not directly improve a company's ability to generate profits from its assets. However, Firm Size was found to moderate the effect of Sustainability Reporting on the financial performance of energy sector companies. The positive regression coefficient of the interaction variable indicates that Firm Size tends to strengthen the relationship between Sustainability Reporting and financial performance. Therefore, larger companies have greater capacity to utilize sustainability disclosure to support financial performance.
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.54066/jura-itb.v4i4.4816first seen 2026-11-04 05:05:47 · last seen 2026-11-06 05:01:49
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