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All Journal International Journal of Humanities Education and Social Sciences
Denpharanto Agung Krisprimandoyo
Universitas Ciputra Surabaya, East Java, Indonesia
Humanities Economics, Econometrics & Finance Languange, Linguistic, Communication & Media Social Sciences Other

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Stakeholder Engagement in ESG and Its Impact on Financial Reputation in Property Denpharanto Agung Krisprimandoyo; Lina Mahardiana; Garry Brumadyadisty; Siska Armawati Sufa; Maryam Maryam
International Journal Of Humanities Education and Social Sciences (IJHESS) Vol 5 No 6 (2026): IJHESS JUNE 2026
Publisher : CV. AFDIFAL MAJU BERKAH

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55227/ijhess.v5i6.2288

Abstract

This study analyzes the role of stakeholder engagement in ESG practices in shaping corporate reputation and financial performance within the real estate industry in Southeast Asia. The primary issue lies in the unclear mechanism through which stakeholder engagement generates financial value. This research aims to examine both the direct and indirect effects of stakeholder engagement on financial performance, with corporate reputation serving as a mediating variable. The study adopts a quantitative approach by surveying 150 ESG professionals and analyzing the data using PLS-SEM. The measurement model demonstrates strong reliability and validity, with indicator loadings ranging from 0.742 to 0.896, Composite Reliability values between 0.888 and 0.926, and AVE values between 0.614 and 0.718. Structural results indicate that stakeholder engagement significantly influences corporate reputation (β = 0.704; T = 18.024; R² = 0.496; f² = 0.983), but does not exert a significant direct effect on financial performance (β = 0.126; T = 1.162; f² = 0.013). Corporate reputation significantly affects financial performance (β = 0.539; T = 4.832; R² = 0.402; f² = 0.245). The significant indirect effect (β = 0.379; T = 4.393) confirms full mediation. Q² values of 0.344 and 0.278 confirm predictive relevance. These findings indicate that ESG-related financial benefits arise through reputation rather than through engagement activities alone. Firms should prioritize authentic and credible engagement to build sustainable reputational capital.
Co-Authors Garry Brumadyadisty Lina Mahardiana Maryam Maryam Siska Armawati Sufa