Al-Kharaj: Journal of Islamic Economic and Business
Vol. 7 No. 4 (2025): All articles in this issue include authors from 3 countries of origin (Indonesi

The Influence of Environment, Social and Governance (ESG) on Financial Performance: The Role of Ownership Structure as a Moderating Variable

Sososutiksno, Christina (Unknown)
Jabida Latuamury (Unknown)
Kathleen Asyera Risakotta (Unknown)
Shella Gilby Sapulette (Unknown)
Rita J.D. Atawarman (Unknown)

Article Info

Publish Date
03 Nov 2025

Abstract

The purpose of this study is to examine the influence of ESG on corporate financial performance, moderated by ownership structure, in manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the 2020-2023 period. This study used secondary data in the form of annual reports and corporate sustainability reports. The study sampled 65 companies, and the analysis technique used was moderated regression analysis (MRA). The data analysis results indicate that ESG has no effect on corporate financial performance, and institutional ownership strengthens the influence of ESG on financial performance.

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Journal Info
Al-Kharaj: Journal of Islamic Economic and Business
Website

Abbrev

alkharaj

Publisher

Institut Agama Islam Negeri Palopo

Subject

Economics, Econometrics & Finance

Description

Al-Kharaj, Journal of Islamic Economic and Business is peer-reviewed journal published by program studi ekonomi syariah , Institut Agama Islam Negeri (IAIN) Palopo. Al-Kharaj focus on the research of Islamic Economic and Business. The aims of this journal is to explore and develop economic related ...