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All Journal ARBITRASE: JOURNAL OF ECONOMICS AND ACCOUNTING
Fera Damayanti
Universitas Tanjungpura, Pontianak
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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Pengaruh Pengungkapan Environmental, Social, Governance (ESG) dan Profitabilitas Terhadap Return Saham Perusahaan Indeks IDX30 Nadila Eka Apriyanti; Nina Febriana Dosinta; Fera Damayanti
ARBITRASE: Journal of Economics and Accounting Vol. 7 No. 1 (2026): July 2026
Publisher : Forum Kerjasama Pendidikan Tinggi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47065/arbitrase.v7i1.3273

Abstract

This study aims to analyze the effect of Environmental, Social, Governance (ESG) disclosure and profitability on stock returns in IDX30 index companies for the 2022–2024 period. This study uses a quantitative method with secondary data obtained from annual reports, sustainability reports, and stock price data taken from the Yahoo Finance website. The research sample was selected using a purposive sampling technique, resulting in 26 companies with a total of 78 observational data. Data analysis used panel data regression with the help of EViews 12 software. The results show that environmental disclosure (coefficient = 0.734; prob = 0.0081), social (coefficient = 1.072; prob = 0.0015), governance (coefficient = 0.657; prob = 0.0048), and profitability (coefficient = 3.660; prob = 0.0000) have a positive effect on stock returns. These results indicate that investors are starting to consider financial and non-financial information in making investment decisions to assess a company's prospects and sustainability. This study expands the empirical evidence on the influence of ESG and profitability on stock returns by testing the influence of each ESG dimension separately, namely environmental, social, and governance, thus providing a more specific analysis of the influence of each ESG dimension on stock returns.
Co-Authors Nadila Eka Apriyanti Nina Febriana Dosinta