Jurnal Bisnis dan Akuntansi
Vol. 27 No. 2 (2025): Jurnal Bisnis dan Akuntansi (in progress)

STRATEGIC TYPOLOGY AND ITS CONTEXTUAL ROLE IN SHAPING THE ESG-FIRM VALUE NEXUS

Karina Praadhi Pambudyaningtyas (Universitas Kristen Satya Wacana)
Mitha Dwi Restuti (Universitas Kristen Satya Wacana)



Article Info

Publish Date
31 Dec 2025

Abstract

 In the pursuit of long-term survival and growth, firms must strengthen investor relations and secure stakeholder trust to enhance share prices, thereby reflecting greater firm value. Investment decisions today extend beyond financial metrics, incorporating sustainability considerations through the Environmental, Social, and Governance (ESG) framework. To fully capture ESG’s value-creating potential, firms operate within distinct strategic typologies that shape their competitive responses. The prospector typology emphasizes innovation and market exploration, whereas the defender typology focuses on efficiency and market stability. This study examines the influence of ESG performance on firm value, while recognizing strategic typology as a contextual factor in this relationship. Using 639 firm-year observations from Indonesian Stock Exchange–listed firms with ESG scores from Refinitiv Eikon (2014–2024), regression results reveal that ESG performance significantly enhances firm value. This positive association persists across both prospector and defender strategies, highlighting ESG’s universal relevance as a driver of firm value. This research underscores ESG performance as a sources of value creation for firms and highlights the importance of aligning sustainability practices with firms' strategic characteristics, particularly within the context of emerging markets.

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Journal Info

Abbrev

JBA

Publisher

Subject

Economics, Econometrics & Finance

Description

Jurnal Bisnis dan Akuntansi is biannual publication issued in the month of June and December. Jurnal Bisnis dan Akuntansi is a scientific journal which prioritizes the publication of articles (research and non-research based) regarding to business and accounting issues that deal with social issues ...