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All Journal Neraca Manajemen, Akuntansi, dan Ekonomi
Chairunnisa, Widya Zahra
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Economics, Econometrics & Finance Environmental Science

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ESG IMPLEMENTATION ON FINANCIAL PERFORMANCE IN INDONESIA STUDY LITERATURE REVIEW Chairunnisa, Widya Zahra; Yusnidar, Yusnidar; Fuadah, ⁠Lukluk
Musytari : Jurnal Manajemen, Akuntansi, dan Ekonomi Vol. 10 No. 4 (2024): Musytari : Neraca Manajemen, Akuntansi, dan Ekonomi
Publisher : Cahaya Ilmu Bangsa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.8734/musytari.v10i4.7060

Abstract

In the era of globalization, Environmental, Social, and Governance (ESG) has become an essential framework for business decision-making and investment, especially in emerging markets like Indonesia. This study aims to analyze the impact of ESG implementation on financial performance in Indonesian companies through a literature review approach, focusing on recent research examining the correlation between ESG practices and financial outcomes. Using a comprehensive analysis of prior studies, this research explores the influences of ESG on profitability, market value, risk management, and operational efficiency, with attention to moderating factors such as digitalization. Findings indicate that robust ESG practices positively correlate with improved Return on Assets (ROA), increased market valuation, and reduced business risk, supported by enhanced transparency and stakeholder trust. Digitalization strengthens the link between ESG initiatives and financial performance by facilitating efficient data management and compliance. This research concludes that ESG is a tool for risk mitigation and a sustainable growth strategy for companies in Indonesia.
Co-Authors Fuadah, ⁠Lukluk Yusnidar Yusnidar