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All Journal Current : Jurnal Kajian Akuntansi dan Bisnis Terkini
Anik Puji Handayani
Nahdlatul Ulama Yogyakarta University, Yogyakarta, Indonesia
Humanities Economics, Econometrics & Finance Social Sciences

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FINTECH, SDG PERFORMANCE, AND FIRM VALUE: THE MODERATING ROLE OF BANKING CORPORATE GOVERNANCE Rida Izmaliani; Anik Puji Handayani; Gigih Aulia Hilmiawan
CURRENT: Jurnal Kajian Akuntansi dan Bisnis Terkini Vol. 7 No. 2 (2026): Current : Jurnal Kajian Akuntansi dan Bisnis Terkini
Publisher : Universitas Riau

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31258/current.7.2.313-332

Abstract

The inconsistent empirical relationship between Financial Technology (FinTech), Sustainable Development Goals (SDGs), and firm value in emerging markets reveals a critical research gap regarding how market skepticism toward sustainability costs is managed. This study evaluates the impact of FinTech, SDG 8, and SDG 9 on firm value, with Good Corporate Governance (GCG) as a moderator. Analyzing 185 observations from 37 conventional banks on the Indonesia Stock Exchange (2020-2024), the research employs Moderated Regression Analysis (MRA) with a Fixed Effect Model. The findings indicate that only SDG 8 has a significant positive effect on firm value, confirming the existence of an ESG premium in the Indonesian market. Conversely, FinTech and SDG 9 do not exert a direct influence, reflecting investor preference for short-term profitability over capital-intensive infrastructure expenditures. Crucially, the results prove that GCG significantly strengthens the influence of FinTech on firm value, acting as a signal validator that validates the credibility of digital investments and mitigates agency concerns. However, GCG fails to moderate the SDG relationship due to structural barriers of investor short-termism. This study integrates Signaling and Agency theories, identifying GCG as a critical signal validator that converts technological investment costs into market-perceived firm value
Co-Authors Gigih Aulia Hilmiawan Rida Izmaliani