Kinerja Keuangan Sebagai Mediator dalam Pengujian Peran ESG pada Tingkat Pengembalian Saham
DOI:
https://doi.org/10.47747/snfmi.v3i1.3103Abstract
The existence of investor interest and consideration for companies that care about the ESG (environmental, social, and governance) factors in investment decisions is the basis for conducting this study. The purpose of this research is to analysis ESG factors on stock returns, analysis ESG factors on financial performance, and analysis the ability of financial performance to mediate ESG factors on stock returns. The sampling technique used was a non-probabilistic sample with the type of purposive sampling to obtain a research sample of 19 corporates listed on IDX. The method of data analysis used is SEM-PLS with a (5%). The results of the data analysis show that there is no effect of the ESG factor on stock returns. Environmental factors and social factors affect financial performance, while governance factors do not affect financial performance. Financial performance factors cannot mediate ESG factors on stock returns. From the results of testing the hypothesis, the companies used as research samples must pay attention to environmental factors, social factors to increase the company's financial achievements. Governance factors, although they don’t have an influence on the company's financial achievements, must also be considered so that the corporate can carry out its operational activities properly.
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