SUSTAINABILITY DISCLOSURE AND ACCOUNTING PRUDENCE: UNLOCKING PATHWAYS TO FUTURE FIRM VALUE
サステナビリティ開示と会計の慎重性：将来の企業価値への経路を解き放つ (AI 翻訳)
Imam Nurcahyo Fambudi, Sri Opti, Satrio Bagus Ramadhan, Mishelei Loen, Mardhiah Eka Citra
🤖 gxceed AI 要約
日本語
本研究は、インドネシア証券取引所上場の非金融企業を対象に、会計の慎重性が将来の企業価値に与える影響を、サステナビリティ開示を調整変数として分析。結果、慎重性は企業価値に正の影響を与え、サステナビリティ開示はその関係を強化することが示された。ESG開示規制（POJK 51）の有効性を支持する実証結果。
English
This study analyzes the effect of accounting prudence on future firm value with sustainability disclosure as a moderator, using data from Indonesian listed non-financial firms (2017-2021). Results show that prudence positively affects firm value, and sustainability disclosure strengthens this relationship. The findings support the effectiveness of ESG disclosure regulation (POJK 51) 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
本論文はインドネシアを対象としており、日本のSSBJや有報制度との直接的な関連は薄い。しかし、サステナビリティ開示が財務報告の質と企業価値に与える影響を実証しており、日本企業が新興市場で活動する際の参考になる。
In the global GX context
The paper provides empirical evidence from an emerging market on how sustainability disclosure enhances the value-relevance of accounting prudence. While not directly addressing TCFD/ISSB standards, it supports the broader argument for integrating ESG into financial reporting, relevant for global disclosure scholarship.
👥 読者別の含意
🔬研究者:Adds to the literature on disclosure and firm value from an emerging market perspective, combining agency and legitimacy theories.
🏢実務担当者:Companies can use findings to justify investment in sustainability reporting to boost investor confidence and firm value.
🏛政策担当者:Regulators in emerging markets can draw on this to strengthen ESG disclosure mandates and link them to financial reporting quality.
📄 Abstract（原文）
This study aims to analyze the effect of accounting prudence on future firm value, with sustainability disclosure as a moderating variable. While financial transparency is crucial, accounting prudence remains under-discussed compared to conservatism, especially in Indonesia. This study uses quantitative methods with regression analysis data on non-financial companies listed on the Indonesia Stock Exchange (IDX) for the period 2017-2021. This research comprised 300 observations. This research supports POJK 51/POJK.03/2017, which encourages the integration of ESG aspects into financial reports. The results show that accounting prudence significantly and positively affects future firm value. Additionally, sustainability disclosure not only directly affects firm value but also strengthens the positive relationship between accounting prudence and firm value. Regarding the control variables, firm size and leverage significantly affect firm value, whereas growth opportunities do not. These findings confirm that combining accounting prudence with sustainability transparency is an effective strategy for increasing future firm value. Therefore, companies are advised to improve financial reporting quality and sustainability transparency to enhance their competitiveness and investor confidence. This study enriches the literature by combining agency and legitimacy perspectives, showing how prudence reduces information asymmetry and sustainability disclosure strengthens corporate legitimacy. Its novelty lies in examining prudence within the IFRS framework and linking it to ESG transparency in emerging markets. Practically, the findings guide managers and regulators to improve governance, mitigate risks, and ensure resilience. Thus, prudent accounting with sustainability disclosure shapes financial outcomes and acts as a strategic tool for sustaining firm value in volatile conditions
🔗 Provenance — このレコードを発見したソース
- crossref https://doi.org/10.25105/v8i1.24142first seen 2026-07-28 06:24:06 · last seen 2026-07-28 06:24:08
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