インドネシア証券取引所上場テクノロジー企業（2021–2024年）におけるESG開示が投資判断に与える影響：独立取締役の調整効果
The Effect of ESG Disclosure on Investment Decisions with Independent Commissioners as a Moderating Variable in Technology Companies Listed on the Indonesian Stock Exchange (2021–2024) (原題)
(著者不明)
🤖 gxceed AI 要約
日本語
インドネシア証券取引所のテクノロジー企業を対象に、ESG開示が投資判断に与える影響と独立取締役の調整効果を検証。ESG開示は投資判断に負の有意な影響を与え、独立取締役はその関係を有意に調整することが示された。コーポレートガバナンスが投資家のESG情報への反応を左右することを示唆する。
English
This study examines how ESG disclosure affects investment decisions among technology firms on the Indonesia Stock Exchange (2021–2024), and whether independent commissioners moderate this relationship. ESG disclosure shows a negative significant effect on investment decisions, while independent commissioners significantly moderate the relationship. Findings highlight corporate governance's role in shaping investor responses to ESG information.
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
新興国市場におけるESG開示と投資判断の関係を示す実証例として、SSBJ基準や有報・統合報告書を通じた日本企業の開示設計、特に独立取締役の役割を考える上での比較材料となる。ただし日本市場への直接的な含意は限定的。
In the global GX context
Adds emerging-market evidence to the global ESG-disclosure literature, complementing TCFD/ISSB/CSRD-focused studies that are largely developed-market centric. It underscores governance (board independence) as a moderator of how investors price ESG information, relevant to transition-finance and disclosure-quality debates.
👥 読者別の含意
🔬研究者:ESG開示と投資判断の関係におけるガバナンス調整効果の新興国実証として参照可能。
🏢実務担当者:独立取締役の構成がESG情報の投資家評価に影響しうる点を開示・IR設計で考慮する材料。
🏛政策担当者:新興国市場でのESG開示規制とコーポレートガバナンス制度設計の相互作用を示す事例。
📄 Abstract（原文）
This study examines the effect of Environmental, Social, and Governance (ESG) disclosure on investment decisions in technology companies listed on the Indonesian Stock Exchange (IDX) during the period 2021–2024. It also investigates the moderating role of independent commissioners in strengthening or weakening the relationship between ESG disclosure and investment decisions. Using secondary data obtained from annual reports and sustainability reports of technology sector companies, this study employs a quantitative approach with multiple linear regression and moderated regression analysis. The results indicate that ESG disclosure has a negative and significant effect on investment decisions. Independent commissioners significantly influence investment decisions and are proven to moderate the relationship between ESG disclosure and investment decisions. These findings suggest that corporate governance mechanisms, particularly the presence of independent commissioners, play a crucial role in shaping investor responses to ESG information. This study contributes to the literature by focusing on investment decisions rather than firm value and by emphasizing the technology sector in the Indonesian capital market.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://pubjournals.com/ijsefl/article/download/173/140first seen 2026-09-12 05:26:17 · last seen 2026-09-22 05:00:05
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