PENGARUH KINERJA ENVIRONMENTAL, SOCIAL, AND GOVERNANCE (ESG) TERHADAP KINERJA KEUANGAN PERUSAHAAN DENGAN KEKUATAN CHIEF EXECUTIVE OFFICER (CEO) SEBAGAI VARIABEL MODERASI DI BURSA EFEK INDONESIA

Howard Simanjuntak; Yuliusman Yuliusman; Nela Safelia

doi:10.22437/jar.v6i2.50057

THE EFFECT OF ENVIRONMENTAL, SOCIAL, AND GOVERNANCE (ESG) PERFORMANCE ON COMPANY FINANCIAL PERFORMANCE WITH THE POWER OF THE CHIEF EXECUTIVE OFFICER (CEO) AS A MODERATING VARIABLE ON THE INDONESIAN STOCK EXCHANGE

Authors

Howard Simanjuntak Universitas Jambi
Yuliusman Yuliusman Jambi University
Nela Safelia Jambi University

DOI:

https://doi.org/10.22437/jar.v6i2.50057

Keywords:

ESG Performance, Corporate Financial Performance, CEO Tenure

Abstract

This study aims to analyze the influence of environmental, social, and governance (ESG) performance on corporate financial performance, with CEO characteristics as a moderating variable on the Indonesian Stock Exchange. The sample used in this study were companies listed on the Indonesia Stock Exchange in 2020-2022 that had ESG distribution scores in the Revinitif Eikon database. Using a purposive sampling method, a sample of 17 companies was obtained. This study employed moderated regression analysis (MRA) tested using Eviews12. The results showed that environmental and social performance did not significantly influence corporate financial performance, while corporate governance performance did significantly influence corporate financial performance. Meanwhile, the CEO power variable was unable to moderate (strengthen) the relationship between environmental, social, and governance performance and corporate financial performance.

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Published

2025-12-22

How to Cite

Simanjuntak, H., Yuliusman, Y., & Safelia, N. (2025). THE EFFECT OF ENVIRONMENTAL, SOCIAL, AND GOVERNANCE (ESG) PERFORMANCE ON COMPANY FINANCIAL PERFORMANCE WITH THE POWER OF THE CHIEF EXECUTIVE OFFICER (CEO) AS A MODERATING VARIABLE ON THE INDONESIAN STOCK EXCHANGE. Jambi Accounting Review (JAR), 6(2), 1–19. https://doi.org/10.22437/jar.v6i2.50057

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THE EFFECT OF ENVIRONMENTAL, SOCIAL, AND GOVERNANCE (ESG) PERFORMANCE ON COMPANY FINANCIAL PERFORMANCE WITH THE POWER OF THE CHIEF EXECUTIVE OFFICER (CEO) AS A MODERATING VARIABLE ON THE INDONESIAN STOCK EXCHANGE

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