PENGARUH ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) TERHADAP KINERJA KEUANGAN SERTA DAMPAKNYA TERHADAP NILAI PERUSAHAAN PADA SEKTOR PERBANKAN YANG TERDAFTAR DI BEI PERIODE 2021 -2023

Ferli, Isfan (2025) PENGARUH ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) TERHADAP KINERJA KEUANGAN SERTA DAMPAKNYA TERHADAP NILAI PERUSAHAAN PADA SEKTOR PERBANKAN YANG TERDAFTAR DI BEI PERIODE 2021 -2023. Tesis (S2) - thesis, Universitas Bakrie.

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Abstract

This study aims to examine the impact of Environmental, Social, and Governance (ESG) practices on financial Performance and their subsequent effects on firm value within the banking sector listed on the Indonesia Stock Exchange (IDX) during the period 2021–2023. Financial Performance is proxied by Return On Equity (ROE), while firm value is measured using Tobin’s Q ratio. Employing a quantitative approach, this research utilizes the Two-Stage Least Squares (2SLS) method to assess both direct and indirect relationships among the variables. Data were sourced from annual financial statements and ESG Risk Ratings published by Morningstar Sustainalytics. The findings reveal that the Environmental dimension does not exert a significant effect on financial Performance (ROE) but has a significantly negative impact on firm value. In contrast, the Social dimension demonstrates a significant positive effect on both financial Performance and firm value. Governance exhibits a significant negative influence on financial Performance but does not significantly affect firm value. Furthermore, financial Performance (ROE) is found to have a significantly negative effect on firm value. Simultaneously, Environmental, Social, and Governance factors collectively exert a significant influence on both ROE and firm value. These results indicate that effective ESG implementation can enhance financial Performance while simultaneously adding value to the firm. The study provides practical implications for bank managers, investors, and regulators, emphasizing the importance of integrating ESG practices as part of corporate sustainability strategies and as a critical tool in investment decision-making. Keywords: Environmental, Social, Governance, Return_on_Equity, Firm_Value

Item Type:	Thesis (Tesis (S2) - )
Uncontrolled Keywords:	Environmental, Social, Governance, Return_on_Equity, Firm_Value
Subjects:	Finance > Bank and Banking Thesis > Thesis (S2)
Divisions:	Fakultas Ekonomi dan Ilmu Sosial > Program Studi Magister Management
Depositing User:	Isfan Ferli
Date Deposited:	08 Sep 2025 09:22
Last Modified:	08 Sep 2025 09:22
URI:	https://repository.bakrie.ac.id/id/eprint/12192

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