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All Journal Islamic Economics and finance in Focus (IEFF)
Saputro, Iman
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Religion Economics, Econometrics & Finance Social Sciences

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The Influence of Environmental, Social, and Governance (ESG) Disclosure on The Financial Performance of Islamic Commercial Banks in Indonesia (The 2020–2024 Period) Saputro, Iman; Widiyanti, Dwi Retno
Islamic Economics and finance in Focus Vol. 5 No. 3 (2026)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/

Abstract

This study was motivated by the inconsistent findings of previous research regarding the impact of Environmental, Social, and Governance (ESG) disclosures on the financial performance of Islamic banks during the economic recovery period.  This study aims to analyze the effect of ESG disclosures on the financial performance of Islamic banks in Indonesia, as measured by ROE, during the 2020–2024 period. The study sample comprises 9 Islamic commercial banks using secondary data from financial statements and annual sustainability reports. The method used is panel data regression with the Common Effect Model (CEM) approach as the best model based on the Chow, Hausman, and LM tests. The results of the partial statistical tests indicate that only governance disclosure has a significant positive effect on ROE, while environmental and social disclosures do not show an effect. The leverage control variable was also found to have a significant negative effect on ROE. Simultaneously, all variables had a significant effect on financial performance. These findings underscore the importance of ESG for investors; this study provides a theoretical contribution to the development of sustainability indicators and their application in improving the financial performance of Islamic banking.
Co-Authors Widiyanti, Dwi Retno