Article Per Year (5 Year)
p-Index From 2020 - 2025
0.408
P-Index
This Author published in this journals
All Journal International Journal of Business, Economics, and Social Development
Nita, Kiki
Unknown Affiliation
Humanities Economics, Econometrics & Finance Education Languange, Linguistic, Communication & Media Social Sciences

Published : 2 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 2 Documents
Search

 1 
The Role of ESG, Fundamental Factors, and Market Perception on Financial Performance: Evidence from LQ45 Firms in Indonesia Zahrazova, Bilqis Saffana; Nita, Kiki; Mahadianto, Moh. Yudi; Wahyu Nugroho, Mada Purwanto
International Journal of Business, Economics, and Social Development Vol 6, No 3 (2025)
Publisher : Research Collaboration Community (RCC)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46336/ijbesd.v6i3.954

Abstract

This research is conducted with the objective of empirically analyzing how sustainability elements and core corporate characteristics influence the financial performance of issuers listed on the LQ45 index at the Indonesia Stock Exchange between 2019 and 2023. The focus of the investigation lies in exploring the impact of Environmental, Social, and Governance (ESG) scores, capital structure metrics, Earnings per Share (EPS), firm scale, and market-based valuation indicators on profitability, measured through Return on Assets (ROA) and Return on Equity (ROE). Adopting a quantitative research approach, this study applies panel data regression techniques. The sample selection process utilizes purposive sampling, emphasizing the availability of complete annual reports, sustainability disclosures, and ESG ratings obtained from Sustainalytics. From a total of 225 observations, 169 datasets met the stringent criteria for thorough examination. The results highlight that prudent management of capital structure combined with strong market valuation significantly boosts corporate profitability. Conversely, the incorporation of ESG practices does not uniformly translate into immediate financial gains and, in certain cases, may even detract from profitability levels. Additionally, the analysis indicates that firms with larger asset bases may experience a decline in operational efficiency, suggesting that mere expansion in size does not inherently enhance financial outcomes. These findings provide valuable insights into the expanding body of literature addressing environmental, social, and governance (ESG) and corporate financial performance within emerging market environments. Furthermore, they offer practical recommendations for regulators, corporate leaders, and investors aiming to design more integrated, sustainability-oriented financial strategies.
The Role of ESG, Fundamental Factors, and Market Perception on Financial Performance: Evidence from LQ45 Firms in Indonesia Zahrazova, Bilqis Saffana; Nita, Kiki; Mahadianto, Moh. Yudi; Wahyu Nugroho, Mada Purwanto
International Journal of Business, Economics, and Social Development Vol. 6 No. 3 (2025)
Publisher : Rescollacom (Research Collaborations Community)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46336/ijbesd.v6i3.954

Abstract

This research is conducted with the objective of empirically analyzing how sustainability elements and core corporate characteristics influence the financial performance of issuers listed on the LQ45 index at the Indonesia Stock Exchange between 2019 and 2023. The focus of the investigation lies in exploring the impact of Environmental, Social, and Governance (ESG) scores, capital structure metrics, Earnings per Share (EPS), firm scale, and market-based valuation indicators on profitability, measured through Return on Assets (ROA) and Return on Equity (ROE). Adopting a quantitative research approach, this study applies panel data regression techniques. The sample selection process utilizes purposive sampling, emphasizing the availability of complete annual reports, sustainability disclosures, and ESG ratings obtained from Sustainalytics. From a total of 225 observations, 169 datasets met the stringent criteria for thorough examination. The results highlight that prudent management of capital structure combined with strong market valuation significantly boosts corporate profitability. Conversely, the incorporation of ESG practices does not uniformly translate into immediate financial gains and, in certain cases, may even detract from profitability levels. Additionally, the analysis indicates that firms with larger asset bases may experience a decline in operational efficiency, suggesting that mere expansion in size does not inherently enhance financial outcomes. These findings provide valuable insights into the expanding body of literature addressing environmental, social, and governance (ESG) and corporate financial performance within emerging market environments. Furthermore, they offer practical recommendations for regulators, corporate leaders, and investors aiming to design more integrated, sustainability-oriented financial strategies.
Co-Authors Moh Yudi Mahadianto Wahyu Nugroho, Mada Purwanto Zahrazova, Bilqis Saffana