監査遅延とサステナビリティ報告がインドネシア証券取引所上場エネルギー企業の株価に与える影響（2021-2024年）
Pengaruh Audit Delay dan Sustainability Reporting Terhadap Harga Saham di Perusahaan Sektor Energi yang Terdaftar di Bursa Efek Indonesia Tahun 2021-2024 (原題)
Fitri Oktaviyani, Siti Pratiwi Husain, Yustina Hiola
🤖 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39社（2021-2024年）を対象に、監査遅延とサステナビリティ報告が株価に与える影響をパネルデータ回帰で分析した。結果、監査遅延は株価に有意な影響を与えず、サステナビリティ報告は負の係数で有意に影響した。同時効果は非有意で、株価はファンダメンタルズや商品価格、マクロ経済に主に影響されたことを示唆する。
English
This study analyzes the impact of audit delay and sustainability reporting on stock prices of 39 Indonesian energy companies (2021-2024) using panel data regression. Findings show audit delay has no significant effect, while sustainability reporting significantly but negatively affects stock prices. Simultaneous effects are insignificant, suggesting stock prices are driven mainly by fundamentals, commodity prices, and macro conditions.
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開示が始まる中、サステナビリティ情報と市場評価の関係は重要。インドネシアの新興市場での実証結果は、日本企業の開示戦略や投資家対応に示唆を与える。
In the global GX context
As ISSB/CSRD disclosures expand globally, this study provides emerging-market evidence on how sustainability reporting affects stock prices, relevant for understanding market responses in different regulatory contexts.
👥 読者別の含意
🔬研究者:新興市場におけるサステナビリティ報告と株価の関係の実証的知見。
🏢実務担当者:サステナビリティ情報開示が市場に与える影響を理解するための参考。
🏛政策担当者:開示規制の設計における市場反応の考慮点。
📄 Abstract（原文）
This study aims to analyze the influence of audit delay and sustainability reporting on the stock prices of energy sector companies listed on the Indonesia Stock Exchange during the 2021–2024 period, examining both partial and simultaneous effects. A quantitative approach with an explanatory design was employed, utilizing secondary data obtained from annual reports, audited financial statements, sustainability reports, and stock price data. The sample was selected using a purposive sampling technique based on established criteria, resulting in a sample of 39 companies and a total of 156 observations over the four-year period. Data analysis utilized panel data multiple linear regression, encompassing descriptive statistics, panel data regression model selection, classical assumption testing, and hypothesis testing. The results indicate that audit delay does not have a significant effect on stock prices. Sustainability reporting, however, significantly affects stock prices, albeit with a negative regression coefficient. Meanwhile, audit delay and sustainability reporting do not have a significant simultaneous effect on stock prices. These findings suggest that investors in the energy sector do not yet prioritize audit delay when making investment decisions, whereas sustainability information has garnered market attention, even if the market response has not always been positive. Stock price movements in the energy sector during the study period appear to have been driven primarily by company fundamentals, energy commodity prices, macroeconomic conditions, and market sentiment.
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.54923/researchreview.v5i2.583first seen 2026-08-28 04:49:42
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