<![CDATA[This study addresses the crucial issue of Corporate Environmental Disclosure (CED) in the energy sector, aiming to analyze the influence of managerial ownership, firm size, and financial performance on the transparency of environmental reporting. While previous research has explored these factors, this study offers a fresh perspective by specifically focusing on the Indonesian energy sector from 2021 to 2023—a period marked by significant environmental incidents and increasing regulatory pressures, providing a unique empirical context that has not been widely examined. Using a quantitative associative research method, secondary data from the annual reports and sustainability reports of 31 energy companies listed on the Indonesia Stock Exchange were rigorously analyzed using panel data regression. The findings reveal that managerial ownership has a negative effect on CED, indicating that higher managerial share ownership may lead to decreased environmental transparency, possibly due to agency conflicts where managers prioritize personal interests over comprehensive disclosure. Conversely, firm size and financial performance were found to have no significant effect on CED, suggesting that in this specific context, these factors do not consistently drive environmental reporting practices. In conclusion, while managerial ownership plays a role in shaping CED, firm size and financial performance do not appear to be key determinants. Future research is recommended to explore additional internal and external factors, such as corporate governance mechanisms, regulatory enforcement, and stakeholder activism, in order to provide a more holistic understanding of environmental disclosure practices in the energy industry.]]>
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