AN EMPIRICAL EVIDENCE OF HOW SUSTAINABILITY DISCLOSURE AFFECTS FIRM VALUE THROUGH SYSTEMATIC RISK

IF 1.1 4区医学 Q4 PUBLIC, ENVIRONMENTAL & OCCUPATIONAL HEALTH

Ajar-African Journal of Aids Research Pub Date : 2022-02-15 DOI:10.35129/ajar.v5i01.262

Steffi Nontji, F. E. Daromes, Kunradus Kampo

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Abstract

The purpose of this study is to investigate the effect of sustainability report disclosure on firm value which is tested both directly and through the role of systematic risk. The research model is built on the arguments of stakeholder theory and agency theory to explain the relationship between research variables. The population used in this study are non-financial companies listed on the Indonesia Stock Exchange (IDX) with a research period of 2017-2019. This research uses purposive sampling method. The number of samples obtained as many as 28 companies. Path analysis was used to analyze the data and the mediation hypothesis was tested using the Sobel test. The results of this study indicate that the sustainability report has a negative and significant effect on systematic risk, systematic risk has a negative and significant effect on firm value, and the sustainability report has a positive and insignificant effect on firm value. The results of the Sobel test show that systematic risk mediates the effect of sustainability reporting on firm value.

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可持续性信息披露如何通过系统性风险影响公司价值的实证研究

本研究的目的是探讨可持续发展报告披露对公司价值的影响，并通过直接和系统风险的作用进行检验。研究模型是在利益相关者理论和代理理论的基础上建立的，用以解释研究变量之间的关系。本研究中使用的人口是在印度尼西亚证券交易所(IDX)上市的非金融公司，研究期为2017-2019年。本研究采用目的性抽样方法。获得的样本数量多达28家公司。采用通径分析对数据进行分析，采用Sobel检验对中介假设进行检验。研究结果表明，可持续发展报告对系统风险具有显著的负向影响，系统风险对企业价值具有显著的负向影响，而可持续发展报告对企业价值具有不显著的正向影响。Sobel检验结果表明，系统风险在可持续性报告对企业价值的影响中起中介作用。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Ajar-African Journal of Aids Research 医学-公共卫生、环境卫生与职业卫生

CiteScore

1.80

自引率

8.30%

发文量

审稿时长

>12 weeks

期刊介绍： African Journal of AIDS Research (AJAR) is a peer-reviewed research journal publishing papers that make an original contribution to the understanding of social dimensions of HIV/AIDS in African contexts. AJAR includes articles from, amongst others, the disciplines of sociology, demography, epidemiology, social geography, economics, psychology, anthropology, philosophy, health communication, media, cultural studies, public health, education, nursing science and social work. Papers relating to impact, care, prevention and social planning, as well as articles covering social theory and the history and politics of HIV/AIDS, will be considered for publication.

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