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All Journal Pendas : Jurnah Ilmiah Pendidikan Dasar
Ghefira Nur Annisa
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Sustainability Practices and Financial Performance in a High-Impact Industry: Evidence from Indonesian Chemical Firms Ayunita Ajengtiyas Saputri Mashuri; Ghefira Nur Annisa
Pendas : Jurnal Ilmiah Pendidikan Dasar Vol. 10 No. 04 (2025): Volume 10 No. 04 Desember 2025
Publisher : Program Studi Pendidikan Guru Sekolah Dasar FKIP Universitas Pasundan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23969/jp.v10i04.40569

Abstract

Firms in Indonesia’s chemical sub-sector face growing expectations to strengthen sustainability initiatives without undermining financial performance. Nevertheless, prior studies report inconsistent results on whether Environmental, Social, and Governance (ESG) disclosure, green accounting adoption, and intellectual capital contribute to improved financial outcomes, particularly in emerging markets. This study examines the influence of ESG disclosure, green accounting practices, and intellectual capital on the financial performance of chemical sub-sector companies listed on the Indonesia Stock Exchange (IDX). Using a quantitative approach, the study analyzes panel data covering the 2020–2023 period. A purposive sampling method yielded 18 firms that met the research criteria. Multiple linear regression was employed to test the proposed relationships, with STATA used for data processing and estimation. The results indicate that ESG disclosure, green accounting implementation, and intellectual capital do not significantly affect firms’ financial performance during the study period. These findings provide sector-specific evidence from Indonesia’s chemical industry and enrich the limited literature on the ESG–financial performance relationship in capital-intensive sectors within emerging-market
Co-Authors Ayunita Ajengtiyas Saputri Mashuri