ANALISIS KOMPARATIF PENGUNGKAPAN ESG DAN HUBUNGANNYA DENGAN KINERJA KEUANGAN DI PERUSAHAAN SEKTOR NON-KEUANGAN NEGARA INDONESIA DAN MALAYSIA

HU, ELLEN and Muthia, Fida (2025) ANALISIS KOMPARATIF PENGUNGKAPAN ESG DAN HUBUNGANNYA DENGAN KINERJA KEUANGAN DI PERUSAHAAN SEKTOR NON-KEUANGAN NEGARA INDONESIA DAN MALAYSIA. Undergraduate thesis, Sriwijaya University.

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Abstract

In response to the growing global focus on sustainability, ESG disclosure has emerged as a key aspect of corporate governance, particularly in emerging markets. This study aims to examine the differences in Environmental, Social, and Governance (ESG) disclosure levels and their effect on profitability (Return on Assets), in non-financial sector companies in Indonesia and Malaysia during the period 2019–2023. The sample, obtained through purposive sampling, comprises 510 observations from firms listed in the Refinitiv database and is analyzed using STATA 17 software. The study employs a quantitative approach utilizing the non parametric Mann-Whitney U Test as well as the GMM. The results indicate that Malaysian firms demonstrate a higher ESG disclosure compared to their Indonesian counterparts. Furthermore, the ESG Score exhibits a statistically significant negative influence on ROA, whereas the lagged value of ROA shows a significant positive effect. Variable SIZE and NEGARA are found to be statistically insignificant. These findings underscore the strategic importance of aligning ESG initiatives with corporate objectives to enhance long-term financial performance. This study offers empirical insights into the ESG-profitability nexus in Southeast Asia, addressing a gap in the regional literature.

Item Type:	Thesis (Undergraduate)
Uncontrolled Keywords:	Pelaporan ESG, ROA, Ukuran Perusahaan, Leverage, Negara, Mann-Whitney U Test, GMM
Subjects:	H Social Sciences > HG Finance > HG4001-4285 Finance management. Business finance. Corporation finance
Divisions:	01-Faculty of Economics > 61201-Management (S1)
Depositing User:	Ellen Hu
Date Deposited:	14 Jul 2025 08:14
Last Modified:	14 Jul 2025 08:14
URI:	http://repository.unsri.ac.id/id/eprint/178416

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