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ESG Disclosure, Board Diversity, and Company Performance Tifani, Savira Sarah; Naimah, Zahroh
JURNAL MANAJEMEN MOTIVASI Vol 22 No 1 (2026): Jurnal Manajemen Motivasi
Publisher : Universitas Muhammadiyah Pontianak

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29406/jmm.v22i1.8466

Abstract

This study examines the impact of ESG disclosure and board gender diversity on the performance of non-financial firms listed on the Indonesia Stock Exchange from 2018 to 2023. Grounded in Legitimacy, Agency, and Stakeholder theories, it employs multiple linear regression on 394 firm-year observations. Results show that ESG disclosure and gender diversity significantly enhance firm performance (ROE). However, their interaction shows a weaker effect, indicating limited synergy. The findings underscore the importance of advancing ESG transparency and gender-balanced leadership to support sustainable growth and long-term corporate performance.