HERSUGONDO, Hersugondo (2021) Artikel Dr. HERSUGONDO, SE, MM: THE EFFECT OF ESG PERFORMANCE ON THE FINANCIAL PERFORMANCE OF MANUFACTURING COMPANIES LISTED IN THE INDONESIAN. AFEBI Management and Business Review, 6 (1).

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Abstract

This study was conducted to analyze the effect of environmental, social, and governance (environmental, social,
and governance (ESG) performance on the company's financial performance. The company's financial performance
is proxied by using Return On Assets. The population in this study are manufacturing companies listed on the
Indonesia Stock Exchange in the 2015-2019 period. The sampling technique used purposive sampling to obtain a
total of 13 manufacturing companies whose annual reports were published on idx.co.id and disclosed
environmental, social, and governance scores on Bloomberg. The analytical method used is panel data regression
using the E-views 9 program. The results of this study indicate that social performance, governance performance
and ESG performance have a positive and significant effect on the company's financial performance while
environmental performance has a negative and insignificant effect on the company's financial performance.

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