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Nugroho, Emanuel Yakobus Prasetyo
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Social Sciences

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THE EFFECT OF ESG SCORES ON MARKET CAPITALIZATION IN THE ESG LEADERS INDEX INDONESIA Nugroho, Emanuel Yakobus Prasetyo; Sumani, Sumani
Jurnal Akuntansi Vol 19 No 2 (2025): Jurnal Akuntansi
Publisher : Universitas Katolik Indonesia Atma Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.25170/jak.v19i2.6620

Abstract

ESG is a concept that prioritizes sustainable development, investment, and business activities by three criteria, namely environmental, social, and governance. Companies that have good practices in terms of ESG tend to have better long-term performance. This better long-term performance can be reflected in revenue, net profit, growth, and ultimately, in a higher market valuation, which is reflected in market capitalization. This study analyses the effect of ESG scores on market capitalization with firm value as an intervening variable in 17 companies in the Indonesian ESG Leaders Index (March 15–September 19, 2023). The data analysis method used multiple linear regression analysis. Regression analysis using IBM SPSS 29, the results of the study showed that ESG scores did not have a significant effect on market capitalization through firm value as a whole.
Co-Authors Sumani .