Determinants of Esg Disclosure in the Energy Sector : The Influence of Foreign Ownership, Roa, and Firm Size
エネルギーセクターにおけるESG開示の決定要因：外国人所有、ROA、企業規模の影響 (AI 翻訳)
null Ronald Desta Padang, null Retno Indah Hernawati
🤖 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エネルギー企業を対象に、外国人所有比率、ROA、企業規模がESG開示に与える影響を分析。2022～2024年のデータを用いた重回帰分析の結果、外国人所有と企業規模はESG開示を有意に促進するが、ROAは有意な影響を示さなかった。正当性理論を支持する結果であり、エネルギーセクターでは短期的収益性よりも所有構造と規模が開示の重要な決定要因であることを示唆する。
English
This study analyzes the influence of foreign ownership, ROA, and firm size on ESG disclosure among energy sector companies listed on the Indonesia Stock Exchange from 2022 to 2024. Multiple linear regression reveals that foreign ownership and firm size significantly enhance ESG disclosure, while ROA has no significant effect. The findings support legitimacy theory, indicating that in the energy sector, ownership structure and firm scale are stronger determinants of ESG disclosure than short-term profitability.
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
インドネシアのエネルギー企業を対象としたESG開示要因分析。日本企業のESG開示実務においても、外国人株主の影響や企業規模の重要性が示唆されるが、インドネシア特有の制度・市場環境を考慮する必要がある。
In the global GX context
This paper provides empirical evidence from an emerging market (Indonesia) on ESG disclosure determinants in the energy sector. It contributes to the global discussion on how ownership structure and firm characteristics influence transparency, relevant for investors and regulators in similar contexts.
👥 読者別の含意
🔬研究者:Provides empirical evidence on ESG disclosure determinants in an emerging market energy sector, supporting legitimacy theory.
🏢実務担当者:Highlights that foreign ownership and firm size are key drivers of ESG disclosure, useful for corporate strategy in emerging markets.
🏛政策担当者:Suggests that promoting foreign investment and supporting larger firms may enhance ESG transparency in the energy sector.
📄 Abstract（原文）
This study examines the influence of foreign ownership, return on assets (ROA), and firm size on environmental, social, and governance (ESG) disclosure among energy sector companies listed on the Indonesia Stock Exchange (IDX) during 2022–2024. The sample was selected through purposive sampling, including firms that consistently published annual and sustainability reports in accordance with the Global Reporting Initiative (GRI) standards. ESG disclosure was measured as the proportion of disclosed GRI indicators to the total applicable indicators. Multiple linear regression analysis shows that foreign ownership and firm size significantly enhance ESG disclosure, while ROA has no significant effect. These results support legitimacy theory, suggesting that companies increase ESG transparency primarily to secure societal acceptance and maintain their social license to operate. In the energy sector, where environmental sensitivity and public scrutiny are high, ownership structure and firm scale emerge as stronger determinants of ESG disclosure than short-term profitability. These findings provide practical implications for regulators, investors, and stakeholders seeking to promote sustainable corporate practices and responsible investment in Indonesia’s energy sector.
🔗 Provenance — このレコードを発見したソース
- openaire https://doi.org/10.70062/harmonieconomics.v1i1.366first seen 2026-05-05 19:08:16
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