Effect of Environmental, Social, and Governance Disclosure, Sustainable Growth Rate, Investment Decisions on Financial Performance of Manufacturing Companies Listed on The Indonesia Stock Exchange
Keywords:
Environmental Disclosure, Social Disclosure, Governance Disclosure, Sustainable Growth Rate, Investment Decisions, Financial PerformanceAbstract
This study aims to determine the effect of environmental, social, and governance disclosure, sustainable growth rate, and investment decisions on financial performance. The research sample consists of manufacturing companies listed on the Indonesia Stock Exchange in 2023 and before 2023. In selecting the sample, the author used purposive sampling, a method of sample selection based on specific criteria. The data used are secondary data obtained from the Indonesia Stock Exchange publications and the official websites of each company. This study used 34 samples with a 2-year observation period, resulting in a total of 50 observations with multiple linear regression estimation of panel data. The results of this study indicate that environmental disclosure has a negative and significant effect on financial performance, social disclosure has a positive and insignificant effect on financial performance, governance disclosure has a negative and insignificant effect on financial performance, sustainable growth rate has a positive and significant effect on financial performance, and investment decisions has a negative and insignificant effect on financial performance.
Keywords: Environmental Disclosure, Social Disclosure, Governance Disclosure, Sustainable Growth Rate, Investment Decisions, Financial Performance
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