Pengaruh Komponen Pengungkapan ESG dan Keputusan Pendanaan Terhadap Kinerja Keuangan

(Studi Empiris Pada Perusahaan Sektor Energi yang Terdaftar di Bursa Efek Indonesia Periode 2022-2024)

Abstract

The purpose of this study is to analyze the interaction between ESG disclosure elements and funding decisions in influencing the financial achievements of companies. The research focuses on entities operating within the energy sector and officially listed on the Indonesia Stock Exchange from 2022 to 2024. Employing a quantitative research framework, the study relies on secondary data obtained from annual reports and sustainability disclosures. All energy sector firms on the IDX were considered as the population, while twenty-five were intentionally chosen as the representative sample through purposive sampling. The dataset was examined through the application of multiple linear regression analysis supported by SPSS version 25. The findings reveal that environmental disclosure exerts no substantial influence on corporate financial results, while social disclosure demonstrates a similarly insignificant relationship. Conversely, governance disclosure and funding decisions are shown to have an inverse association with financial performance. These findings suggest that funding decisions play a crucial role in influencing a company’s financial outcomes, whereas ESG disclosure components have not yet demonstrated a meaningful contribution to improving financial performance.