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Investor Behavior In Green Investment Information Intan Puspitasari; Sugeng Wahyudi; Irene Rini Demi Pangestuti
AL-ARBAH: Journal of Islamic Finance and Banking Vol. 2 No. 1 (2020)
Publisher : Universitas Islam Negeri (UIN) Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/al-arbah.2020.2.1.5497

Abstract

AbstractPurpose - This study aims to analyze the behavior of investors towards voluntary disclosure in the form of green investment information.Method - This research is using qualitative descriptive method, the data will be taken and collected from several literatures and literature studies.Result - The result of this research indicates that there are investors’ behaviors in voluntary disclosure of green investment information.The first, green investor refers to the investors rejecting to the stocks that do not receive green investment, investor will react positively if a disclosure of green investment information stands.The second, the investors react negatively by giving pessimistic respond towards green investment, investors who do not have choice of shares from other companies.Implication - This study uses the data from study of literature.Originality - This research develops several old and new theories related to green investment and it is applied using certain different types of companies as the objects.
Do Sustainable Banks Perform Better? Evidence from The Interplay of Financial Health and ESG Disclosure in Developing Asia Countries Heriyanni Mashithoh; Irene Rini Demi Pangestuti; Harjum Muharram
Jurnal Organisasi dan Manajemen Vol. 22 No. 1 (2026)
Publisher : LPPM Universitas Terbuka

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33830/jom.v22i1.13623.2026

Abstract

Purpose – This study aims to examine the impact of banks’ financial health, proxied by the Loan-to-Deposit Ratio (LDR) and Debt-to-Equity Ratio (DER), on bank market value, measured using Tobin’s Q, in developing Asian economies. In addition, the study investigates whether ESG disclosure serves as a mediating mechanism through which financial health is translated into firm value. Methodology – The study employs a quantitative approach using an unbalanced panel dataset covering 102 banks from developing Asian countries over the period 2009–2023, yielding 1,695 observations. Secondary data are obtained from the Bloomberg Terminal. Empirical analysis is conducted using panel regression with robust standard errors, incorporating country and year fixed effects. The mediating role of ESG disclosure is examined using path analysis and the Sobel test. Findings – The results indicate that LDR has a positive and significant effect on Tobin’s Q, while DER has a negative and significant effect. ESG disclosure positively affects bank value and mediates the relationship between LDR and Tobin’s Q, but not between DER and firm value. These findings suggest that ESG disclosure strengthens liquidity signals but cannot offset the adverse valuation effects of excessive leverage. Originality – This study integrates financial health indicators and ESG disclosure within a mediation framework, demonstrating that ESG disclosure complements financial fundamentals and enhances market valuation when supported by sound liquidity conditions in developing Asian economies.
Co-Authors Aditya Tri Hardiyawan, Aditya Tri Advento Johanes Pangomo Ajeng Nurmalasari Al Hazmi, Muhammad Zaky Afkar Amie Kusumawardhani, Amie Andri Ismatullah Gani Ardian, Rico Arfinda Piradipta Suharno, Arfinda Piradipta Ariyani, Hilma Faza Arminta, Ega Augusty Tae Ferdinand Basthiani, Ikrimah Anggita Budi Rahman Clara Dewi Novitasari, Clara Crissy Norris Sianturi, Crissy Norris Cynthia Rahma Fatiha, Cynthia Rahma Cyrena, Maudhita Desi Natalia Pardede, Desi Natalia Dinar Nur Septiyanto Ega Arminta Ega Arminta Fachry Abda El Rahman Fauziah Putri Gantika, Fauziah Febrina Wahyu Widiasari, Febrina Gloria Anindya Perwitaningtyas, Gloria Anindya Hariyanti, Nunik Harjum Muharam Harjum Muharram Heriyanni Mashithoh Hersugondo Hersugondo Ida Bagus Putu Siwa Adnyana Idris Idris Imam Indra Permana Indana, Dina Intan Puspitasari Intan Puspitasari Isdiputra, Feisal Johanis Darwin Borolla Kinasih, Raras Sekar Lhadualiese Sidauruk, Lhadualiese Luthfiati, Fitria Makusara, Kumaralalita Marpaung, Clier Romi Melati Lindasari, Melati Meryta Wityasari, Meryta Meygawan Nurseto Aji Michael Sandra Pramana, Michael Sandra Michael Sitorus, Michael Mochammad Chabachib Mudzakir, Fahmi Utomo Muhammad, Yusuf Muninggar, Aliya Inggita Prameswari Mussadun Mussadun, Mussadun Nashirah, Azizah Fatin Nida ‘Ul Chasanah, Fatihah Nugrahandini, Yuliastanti Nurul Hakim, Nurul Oktaviani oktaviani Otto Fitriandy Pradhipta, Rama Dwika Prianka Ratri Nastiti, Prianka Ratri Priono, Andri Puji Irawan, Puji Putra, Aditya Mahendra Putri, Aisya Sylvana Rahmadani, Salsabila Gading Ramadhan, Iqbal Ryan Retno Susanti Risky Diba Avrita, Risky Diba Robinson robinson Robiyanto Safitri, Maria Sarah Dewi Fathinna, Sarah Dewi Septi Rianasari, Septi Simanjuntak, Tagora Bangkit Pahala Sirait, Eugenia Chacita Soegiono Soegiono Sugeng Wahyudi, Sugeng Susilo Toto Raharjo Swaskarina, Neisya Hafizha Triana, Tika Tsabit, Ilhaam Anggra Za’im Wafdayanti, Haasya Wakhidah Kurniawati Widiastuti, Cahyaning Ajeng Wisesa, Baskara Bayu Wisnu Mawardi Yesica Yulian Adicondro, Yesica Yulian Yesy Hartina Alusia, Yesy Hartina Yudha, Aji Yudistira, Eka Maisa Yuwana Sari, Rida