Riset Akuntansi (RISTANSI)
Vol. 7 No. 1 (2026): RISTANSI: Riset Akuntansi, Volume 7,Issue 1, May 2026

ESG PERFORMANCE, CAPITAL STRUCTURE, AND WORKING CAPITAL AND THEIR IMPACT ON THE PROFITABILITY OF PUBLIC COMPANIES IN INDONESIA

Nabila Octaviola Rosanti (Institut Teknologi dan Bisnis Asia Malang)
Justita Dura (Institut Teknologi dan Bisnis Asia Malang)
Mohammad Bukhori (Institut Teknologi dan Bisnis Asia Malang)



Article Info

Publish Date
26 May 2026

Abstract

This study aims to analyze the effect of ESG performance, capital structure, and working capital on the profitability of public companies in Indonesia. A non-probability sampling method with a purposive sampling technique was employed, resulting in 72 public companies listed on the Indonesia Stock Exchange (IDX) that had ESG risk scores on the IDX website in 2024 as samples. The quantitative, secondary, and cross-sectional data were processed using multiple linear regression analysis. Outlier and classical assumption tests were performed before regression. The classical assumption tests used on cross-sectional data include heteroscedasticity, multicollinearity, and normality. Hypothesis tests were then conducted to verify the hypotheses' validity, including the coefficient of determination test, t-test, and F-test. The findings indicate that capital structure has a significant negative effect on profitability. ESG performance and working capital have no partially significant effect on the profitability of public companies in Indonesia. Furthermore, it was found that ESG performance, capital structure, and working capital have a simultaneous effect on the profitability of public companies in Indonesia.

Copyrights © 2026






Journal Info

Abbrev

ristansi

Publisher

Subject

Economics, Econometrics & Finance Social Sciences

Description

RISTANSI: Riset Akuntansi atau dikenal dengan nama RISTANSI, diterbitkan oleh Program Studi Akuntansi Institut Teknologi dan Bisnis Asia. RISTANSI terbit Dua Kali setahun yaitu Juni dan Desember yang membahas akuntansi keuangan, audit keuangan, Perpajakan, Perbankan, Pasar Modal, Akuntansi Syariah, ...