环境、社会和公司治理风险评级、董事会规模和性别多样性对财务业绩的影响:2020-2023 年印度尼西亚 90 家公司计量经济学案例研究

Nabil Umar Bayu Wisanggeni, Ika Yustina Rahmawati
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引用次数: 0

摘要

目的:本研究探讨了环境、社会和公司治理风险评级和公司董事会规模对财务业绩的影响。此外,本研究还探讨了性别多样性对环境、社会和公司治理风险评级、董事会规模的影响,以及随后对财务业绩的影响。研究设计:在本案例研究中,CFP 为因变量,ESG 和 BS 为自变量,GD 为调节变量,Dar、LV、GR 和 SZ 为控制变量。研究地点和时间:本研究采用的面板数据来自 2020-2023 年期间符合目的性样本要求的企业。研究方法:本研究采用 EViews 12 统计软件进行各种检验,包括描述性统计检验、模型选择检验、多重共线性和异方差检验以及面板数据回归检验。本研究采用目的抽样法进行样本选择。通过净收入与总资产之比(ROA)评估 FP,通过晨星可持续发展分析(Morningstar Sustainalytics)获得 ESG,通过董事会董事总人数确定 BS,通过计算女性董事会成员比例评估 GD。结果:调查结果表明,ESG 对 FP 没有影响,β = 0.0031 和 Prob.另一个自变量 BS 也对 FP 没有影响,β = 0.0096 和概率 = 0.2130 的值证明了这一点。当我们过渡到调节变量时,可以发现 GD 变量并没有调节 ESG 与 FP 之间的关系(β = -0.011,概率 = 0.3555)。同时,BS 与 FP 之间的关系因 GD 而减弱(β = -0.058,概率 = 0.026)。结论本研究得出结论,财务业绩不受 ESG 风险评级和董事会规模的影响。此外,性别多样性会削弱 ESG 与财务业绩之间的关系。本研究的结论对企业具有重要影响,因为它们揭示了影响公司财务绩效的因素,特别是与可持续发展标准有关的因素。进一步的研究可以包括女性董事比较等变量。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
The Effect of ESG Risk Ratings, Board Size and Gender Diversity on Financial Performance: Econometric Case Study Indonesia 90 Companies 2020-2023
Aims: This study examines the influence of ESG Risk Ratings and the size of corporate boards on financial results. Furthermore, It investigates the impact of gender diversity on ESG Risk Ratings, Board Size, and the subsequent impact on Financial Performance. Study Design: In this case study, CFP is variable dependent, ESG and BS is variable independent, GD is the moderating variable, while Dar, LV, GR, and SZ are control variables. Place and Duration of Study: This study employs panel data from enterprises that meet the purposive sample requirements for the period of 2020-2023. Methodology: This study employs EViews 12 statistical software to conduct various tests, including the Descriptive Statistical Test, Model Selection Test, Multicollinearity and Heteroscedasticity Test, and Panel Data Regression Test. This study used purposive sampling method for sample selection. FP evaluated by the ratio of net income to total assets (ROA), ESG obtained from Morningstar Sustainalytics, BS determined by the total number of directors who serve on it, and GD is assessed by calculating the proportion of female board members. Result: The results of this inquiry indicate that ESG does not have an impact on FP, as demonstrated by the β = 0.0031 and Prob. = 0.3189 value. A different one independent variable, BS, also has no effect on FP, as evidenced by the value of β = 0.0096 and Prob. = 0.2130. As we transition to the moderation variable, it is evident that the GD variable does not moderate the relationship between ESG and FP (β = -0.011, Prob. = 0.3555). Meanwhile, the relationship between BS and FP is weakened by GD (β = -0.058, Prob. = 0.026). Conclusion: This study conclude that financial performance doesn’t influenced by ESG risk ratings and Board size. Beside, gender diversity weakens relationship between ESG and FP. The findings of this study have significant consequences for corporations, as they shed light on the elements that influence a company's financial performance, particularly with regard to sustainability standards. Further research can include variables such as comparison female directors and others.
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