Anggun Okta Fitri
Universitas Islam Negeri Raden Intan Lampung

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ANALISIS PENGARUH ESG DISCLOSURE, GREEN FINANCING, DAN KINERJA SAHAM TERHADAP PREFERENSI INVESTOR (STUDI PADA SAHAM SYARIAH YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2019-2024) Nur Rista Rista; Any Eliza; Anggun Okta Fitri
RIBHUNA : Jurnal Keuangan dan Perbankan Syariah Vol. 5 No. 1 (2026): January 2026
Publisher : Islamic Banking Department, Faculty of Islamic Economics and Business, Institut Agama Islam (IAI) Ibrahimy Genteng Banyuwangi, Indonesia.

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69552/0n8j4538

Abstract

Abstract This study aims to analyze the effect of Environmental, Social, and Governance (ESG) Disclosure, Green Financing, and stock performance on investor preferences in Sharia-compliant stocks listed on the Indonesia Stock Exchange (IDX) during the 2019–2024 period. The study adopts a quantitative approach using secondary data obtained from companies’ annual reports and sustainability reports, as well as capital market data sourced from the IDX, the Financial Services Authority (OJK), Yahoo Finance, and RTI Business. The research sample consists of 20 Sharia-compliant listed companies selected through a purposive sampling method, resulting in 120 panel data observations. Data analysis was conducted using multiple linear regression with the assistance of SPSS Statistics 25. The results indicate that ESG Disclosure and Green Financing have a positive but insignificant effect on investor preferences, while stock performance has a negative and insignificant effect. Simultaneously, the three variables do not have a significant effect on investor preferences, with a coefficient of determination (R²) value of 0.001. These findings suggest that investor preferences in Sharia stocks in Indonesia are not yet primarily influenced by sustainability and financial performance factors, but are more affected by other aspects such as Sharia compliance, risk perception, market sentiment, and investor behavior. Keywords: ESG Disclosure, Green Financing, Stock Performance, Investor Preference, Sharia Stocks.