Pengaruh Corporate Governance Terhadap Environmental, Social, And Governance (ESG) Score (Studi Kasus Pada Perusahaan Sektor Energi Dan Material Yang Go-Public Di Negara China, India, Jepang, Dan Indonesia Periode 2020-2023)
Abstract
Penelitian dimaksudkan guna mengkaji pengaruh corporate governance terhadap skor Environmental, Social, and
Governance (ESG) perusahaan lingkup persektoran energi dan material yang terdaftar di bursa efek China, India,
Jepang, dan Indonesia rentang 2020–2023. Variabel independen yang dimanfaatkan meliputi ukuran dewan direksi
(board size), frekuensi rapat dewan (board diligence), proporsi dewan independen (board independence), dan
keberagaman gender (board gender diversity), dengan firm size, firm age, leverage, dan profitabilitas sebagai
variabel kontrol. Data ESG diperoleh dari platform Refinitiv dan dianalisis menggunakan metode regresi data
panel. Refinitiv menilai ESG Score melalui lima tahapan, termasuk pemberian bobot berdasarkan relevansi sektor
industri disertai penyesuaian terhadap isu kontroversi. Hasil penelitian mengungkap ukuran dewan, ketekunan
dewan, dan independensi dewan punya pengaruhnya yang positif signifikan terhadap skor ESG. Sebaliknya,
keberagaman gender tidak mengungkap pengaruhnya dengan signifikan, kemungkinan karena rendahnya proporsi
perempuan dalam struktur dewan di perusahaan yang diteliti. Temuan ini memberikan kontribusi teoritis dalam
pengembangan literatur tata kelola perusahaan dan ESG, serta menyajikan implikasi praktis bagi manajemen serta
investor dalam membentuk struktur dewan yang efektif untuk meningkatkan kinerja keberlanjutan perusahaan di
negara berkembang.
Kata Kunci-ESG skor, ukuran dewan, ketekunan dewan, dewan independen, keberagaman gender
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