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All Journal The Indonesian Accounting Review Journal of Business & Banking Jurnal MEBIS (Manajemen dan Bisnis) Jurnal Abdi Insani International Journal of Economics, Management, Business, and Social Science Abimanyu: Journal of Community Engagement International Journal of Emerging Research and Review Journal of Infrastructure Policy and Management (JIPM) Jurnal Pengabdian dan Pemberdayaan Banyuwangi
Kusumawati, Nunik Dwi
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Journal : Jurnal MEBIS (Manajemen dan Bisnis)

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Balancing Profit and Planet: How ESG Criteria Are Reshaping Capital Structure in Indonesia Kusumawati, Nunik Dwi
Jurnal Mebis Vol. 9 No. 2: December 2024
Publisher : UPN "Veteran" Jawa Timur

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33005/mebis.v4i2.612

Abstract

Environmental, Social, and Governance (ESG) criteria have gained significant importance in Indonesia's corporate landscape, driven by global trends and local initiatives. The Indonesian government’s commitment to achieving the Sustainable Development Goals (SDGs) by 2030 has accelerated the integration of ESG principles into business practices. This research aims to determine the influence of ESG performance on the capital structure of companies in Indonesia. This research uses quantitative methods, analysing the relationship between ESG scores and company funding decisions, especially those using debt versus internal funding sources. The findings suggest that companies with higher ESG performance tend to rely less on debt financing and prefer retained earnings and equity to support sustainable initiatives. Companies with strong ESG practices exhibit lower environmental risks, healthier financial reports and better credit ratings, reducing funding costs. The study concludes that integrating ESG factors into corporate financing will reduce the risks associated with high debt levels and be in line with long-term value creation, improve corporate governance, and attract ESG-focused investments. This research contributes to the growing understanding of the impact of ESG on capital structure decisions in Indonesia by highlighting its role in creating a sustainable and resilient business environment.
Co-Authors Akbar, Rasyidi Faiz Albrian Fiky Prakoso Arifah, Ika Dyah Candra Ferdiansyah, Erik Harlina Meidiaswati HUSAIN, MUHAMMAD Mahasin, Muhammad Sholah Merlyana Dwinda Yanthi Muhammad Rizky Ramadhan Nihaya, Ina Uswatun Novi Trisnawati Putra, Ravi Pratama Putra, Syaifurrizal Wijaya Rachma Indrarini RAHMAT SETIAWAN Ramadhani, Bima Yatna Anugerah Robbani, Abdullah Azzam Syahputra, Galang Budi Wardhana, I Wayan Frico Ari Westermann, Alena Wibowo, Galih Hendra witri krisdayanti Wiwik Handayani