Article Per Year (5 Year)
p-Index From 2021 - 2026
0.444
P-Index
This Author published in this journals
All Journal Dinasti International Journal of Economics, Finance & Accounting (DIJEFA)
Nurjannah, Dina
Unknown Affiliation
Economics, Econometrics & Finance

Published : 1 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 1 Documents
Search

 1 
Environmental, Social, and Governance (ESG) Performance and Corporate Value: Examining the Mediating Role of Operational Efficiency in Indonesian Manufacturing Firms Nurjannah, Dina; Raharja, Surya
Dinasti International Journal of Economics, Finance & Accounting Vol. 6 No. 6 (2026): Dinasti International Journal of Economics, Finance & Accounting (January - Feb
Publisher : Dinasti Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/dijefa.v6i6.5658

Abstract

This study examines the effect of Environmental, Social, and Governance (ESG) performance on the value of manufacturing firms listed on the Indonesia Stock Exchange during 2021–2023, with operational efficiency as a mediating variable. Using a quantitative approach with SmartPLS software, ESG performance is measured through Bloomberg’s ESG score, operational efficiency through the Operating Efficiency Ratio, and firm value through Return on Assets. The results show that ESG performance has a positive effect on firm value, while operational efficiency does not significantly mediate this relationship. These findings suggest that the contribution of ESG to firm value is more likely driven by external market perceptions than by internal efficiency improvements, particularly in the short term. This implies that ESG plays a direct role in enhancing firm value, while its indirect effect through operational efficiency remains limited. The study provides practical insights for managers and policymakers on the importance of ESG initiatives in driving firm performance.
Co-Authors Firmansyah, Sandy Ginting, Despian Joe Pramana Harahap, M. Ridho Riady Surya Raharja