Article Per Year (5 Year)
p-Index From 2021 - 2026
0.408
P-Index
This Author published in this journals
All Journal Al-Kharaj: Journal of Islamic Economic and Business Escalate : Economics and Business Journal
Mila Failasufa
Unknown Affiliation
Economics, Econometrics & Finance

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The Relationship Between ESG Performance and Firm Value Across All Sectors in Asia, Europe, and Australia: A Systematic Literature Review Mila Failasufa; Inten Mutia; Ika Sasti Ferina
Al-Kharaj: Journal of Islamic Economic and Business Vol. 8 No. 1 (2026): All articles in this issue include authors from 3 countries of origin (Indonesi
Publisher : LP2M IAIN Palopo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24256/kharaj.v8i1.8910

Abstract

In recent years, the integration of Environmental, Social, and Governance (ESG) principles into business strategies has become crucial due to increasing climate concerns and stakeholder demands. This study aims to systematically review empirical evidence on the relationship between ESG performance and firm value across various sectors in Asia, Europe, and Australia. Using a qualitative Systematic Literature Review (SLR) approach using the PRISMA protocol, 20 high-quality articles from 2020–2025 were analyzed. Data extraction focused on variables, theories, findings, and methodologies. The synthesis revealed a dominant positive correlation between ESG performance and firm value, particularly in Asia and Australia, with significant geographic and sectoral heterogeneity. ESG had a positive impact in the manufacturing and construction sectors, while results in the coal, oil, and aviation sectors were inconclusive or negative. Methodological diversity, including ESG data sources and firm value proxies, influenced the findings. In conclusion, the relationship between ESG and firm value is contextual, requiring ESG research and implementation to be tailored to local and sectoral characteristics.
The Influence of Council Structure and IndependenceThe Council on Corporate Financial Performance: A Systematic Literature Review Mila Failasufa; Mukhtaruddin Mukhtaruddin
Escalate : Economics and Business Journal Vol. 1 No. 02: Driving Change and Innovation in the Digital Age
Publisher : Takaza Innovatix Labs Ltd.

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61536/escalate.v1i02.459

Abstract

This study aims to collect and analyze the results of previous research related to the influence of board structure and board independence on the company's financial performance. We analyzed 22 research articles published between 2020-2025. The results show that good board structures (such as the right number of members, gender diversity, and special committees) as well as independent boards can generally improve a company's financial performance (measured by ROA, ROE, and Tobin's Q). However, these results are not always the same in every company. Factors such as industry type, country regulations, and market conditions can affect how much influence the board has on performance. The most commonly used theory to explain this relationship is Agency Theory. This study provides advice for companies in drafting effective boards and for future research to pay more attention to factors that can strengthen or weaken these relationships.
Co-Authors Ika Sasti Ferina Inten Mutia Mukhtaruddin Mukhtaruddin