The Effect of Environmental, Social and Governance (ESG) Disclosure on Financial Performance with Intellectual Capital as a Moderating Variable in Banking Companies Listed on the Indonesia Stock Exchange (IDX) for the 2021–2024 Period
DOI:
https://doi.org/10.31603/conference.17403Kata Kunci:
environmental, social, and governance (ESG), intellectual capital, value added intellectual coefficient (VAIC), financial performance, return on assets (ROA)Abstrak
This study aims to analyze the effect of Environmental, Social, and Governance (ESG) disclosure on financial performance and to examine the role of Intellectual Capital as a moderating variable in banking sector companies listed on the Indonesia Stock Exchange (IDX) during the 2021–2024 period. Financial performance in this study is proxied by Return on Assets (ROA), while Intellectual Capital is measured using the Value Added Intellectual Coefficient (VAIC) method. This research employs a quantitative approach using secondary data obtained from annual financial reports and sustainability reports. The sampling technique used is purposive sampling, with a total sample of 184 observations. The data analysis methods include descriptive statistical analysis, classical assumption tests, simple linear regression, and moderated regression analysis (Moderated Regression Analysis/MRA) using SPSS. The results show that ESG disclosure has a positive and significant effect on financial performance. Intellectual Capital also has a positive and significant effect on financial performance. In addition, Intellectual Capital is proven to moderate the effect of ESG disclosure on financial performance, but with a weakening effect. This indicates that although Intellectual Capital acts as a moderating variable, it has not fully strengthened the relationship between ESG disclosure and financial performance. This study is expected to contribute to companies in improving the quality of ESG disclosure and the management of Intellectual Capital in order to enhance financial performance.
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