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Environmental, Social, and Governance (ESG) Disclosure Application to Company Profitability and Value

Economic Education Analysis Journal · Vol. 14 No. 2 (2025) · hlm. 255–262

DOI
10.15294/eeaj.v14i2.28769
ISSN
2502-356X, 2252-6544
Terbit
2025-07-20
Penerbit
Universitas Negeri Semarang
Bahasa
eng

Abstrak

This study examined the impact of ESG disclosure implementation on manufacturing companies and their profitability, with capital structure as a mediating variable. This gap in research is due to several inconsistent findings with previous studies on the relationship between ESG disclosure and company performance, particularly in emerging markets like Indonesia. This study used quantitative analysis and PLS-SEM to examine 42 companies listed on the Indonesia Stock Exchange from 2018 to 2024. The results indicate that environmental, social, and governance disclosures positively affect company profitability, mediating the relationship between capital structure and ESG disclosure. These findings will contribute to understanding how ESG implementation affects company performance in emerging markets and provide practical insights for companies implementing ESG practices. These findings contribute to understanding the dynamics of ESG implementation in emerging markets, highlighting the influence of each ESG component on company performance. This study also emphasizes the importance of strategic alignment between sustainability initiatives and corporate financial management to optimize performance in the face of the ever-changing business landscape in Indonesia.

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18 penulis · 46 tautan kepenulisan bersama · 3 lintas organisasi

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  • Sekolah Tinggi Ilmu Ekonomi Semarang
  • Institut Teknologi dan Bisnis Semarang
  • Hasanuddin University
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  • Organisasi berbeda
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Rekan penulisOrganisasiArtikel bersama
Sri PraptonoAfiliasi tidak diketahui3
Yoga NindhitaSekolah Tinggi Ilmu Ekonomi Semarang1
Risma MusfiyanaSekolah Tinggi Ilmu Ekonomi Semarang1
Sri LestariSekolah Tinggi Ilmu Ekonomi Semarang1
Dwi Retna SulistyawatiAfiliasi tidak diketahui1
Beginer SubhanAfiliasi tidak diketahui1
Siti MaysarohAfiliasi tidak diketahui1
Meutia Samira IsmetAfiliasi tidak diketahui1
Nurlita AnggrainiAfiliasi tidak diketahui1
Endang Sunarwati SrimarianaAfiliasi tidak diketahui1
Neviaty Putri ZamaniHasanuddin University1
Nurlita Putri AnggrainiAfiliasi tidak diketahui1
Meutia Samira IsmetAfiliasi tidak diketahui1
Muhammad Fachriza ImandityaAfiliasi tidak diketahui1
Nyoman MN NatihAfiliasi tidak diketahui1

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Sumber metadata: OAI-PMH (metadata jurnal) https://journal.unnes.ac.id/journals/eeaj/oai, pertama di-harvest 5 Nov 2026, terakhir terlihat 8 Nov 2026.
Metadata asli (oai_dc) 
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	<dc:title xml:lang="en">Environmental, Social, and Governance (ESG) Disclosure Application to Company Profitability and Value</dc:title>
	<dc:creator xml:lang="en">Ernawati, Fidyah Yuli</dc:creator>
	<dc:creator xml:lang="en">Andini, Rita</dc:creator>
	<dc:creator xml:lang="en">Subekti, Heni</dc:creator>
	<dc:subject xml:lang="en">Capital Structure</dc:subject>
	<dc:subject xml:lang="en">ESG Disclosure</dc:subject>
	<dc:subject xml:lang="en">Firm Value</dc:subject>
	<dc:subject xml:lang="en">Indonesia Stock Exchange</dc:subject>
	<dc:subject xml:lang="en">Profitability</dc:subject>
	<dc:description xml:lang="en">This study examined the impact of ESG disclosure implementation on manufacturing companies and their profitability, with capital structure as a mediating variable. This gap in research is due to several inconsistent findings with previous studies on the relationship between ESG disclosure and company performance, particularly in emerging markets like Indonesia. This study used quantitative analysis and PLS-SEM to examine 42 companies listed on the Indonesia Stock Exchange from 2018 to 2024. The results indicate that environmental, social, and governance disclosures positively affect company profitability, mediating the relationship between capital structure and ESG disclosure. These findings will contribute to understanding how ESG implementation affects company performance in emerging markets and provide practical insights for companies implementing ESG practices. These findings contribute to understanding the dynamics of ESG implementation in emerging markets, highlighting the influence of each ESG component on company performance. This study also emphasizes the importance of strategic alignment between sustainability initiatives and corporate financial management to optimize performance in the face of the ever-changing business landscape in Indonesia.</dc:description>
	<dc:publisher xml:lang="en">Universitas Negeri Semarang</dc:publisher>
	<dc:date>2025-07-20</dc:date>
	<dc:type>info:eu-repo/semantics/article</dc:type>
	<dc:type>info:eu-repo/semantics/publishedVersion</dc:type>
	<dc:type xml:lang="en">Peer-reviewed Article</dc:type>
	<dc:format>application/pdf</dc:format>
	<dc:identifier>https://journal.unnes.ac.id/journals/eeaj/article/view/28769</dc:identifier>
	<dc:identifier>10.15294/eeaj.v14i2.28769</dc:identifier>
	<dc:source xml:lang="en">Economic Education Analysis Journal; Vol. 14 No. 2 (2025): Economic Education Analysis Journal; 255-262</dc:source>
	<dc:source>2502-356X</dc:source>
	<dc:source>2252-6544</dc:source>
	<dc:source>10.15294/eeaj.v14i2</dc:source>
	<dc:language>eng</dc:language>
	<dc:relation>https://journal.unnes.ac.id/journals/eeaj/article/view/28769/5003</dc:relation>
	<dc:rights xml:lang="en">Copyright (c) 2025 Economic Education Analysis Journal</dc:rights>
</oai_dc:dc>