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Proceedings of the 1st Public Sector International Conference, PSIC 2024, 11-12 September 2024, Lombok Island, West Nusa Tenggara, Indonesia

Research Article

ESG Disclosure And Investment Decisions Of State-Owned Enterprises (SOEs) Listed In Indonesia Stock Exchange

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  • @INPROCEEDINGS{10.4108/eai.11-9-2024.2354420,
        author={Sila Ninin Wisnantiasri and Yeni  Widiastuti and Dwirini  Dwirini and Yudhi  Prasetiyo},
        title={ESG Disclosure And Investment Decisions Of State-Owned Enterprises (SOEs) Listed In Indonesia Stock Exchange},
        proceedings={Proceedings of the 1st Public Sector International Conference, PSIC 2024, 11-12 September 2024, Lombok Island, West Nusa Tenggara, Indonesia},
        publisher={EAI},
        proceedings_a={PSIC},
        year={2025},
        month={2},
        keywords={esg disclosure; financial reporting quality; investment decisions; state-owned enterprise},
        doi={10.4108/eai.11-9-2024.2354420}
    }
    
  • Sila Ninin Wisnantiasri
    Yeni Widiastuti
    Dwirini Dwirini
    Yudhi Prasetiyo
    Year: 2025
    ESG Disclosure And Investment Decisions Of State-Owned Enterprises (SOEs) Listed In Indonesia Stock Exchange
    PSIC
    EAI
    DOI: 10.4108/eai.11-9-2024.2354420
Sila Ninin Wisnantiasri1,*, Yeni Widiastuti2, Dwirini Dwirini1, Yudhi Prasetiyo1
  • 1: Accounting Study Program, Open University, Indonesia
  • 2: Accounting Study Program, Open University, Indonesia.
*Contact email: sila.wisnantiasri@ecampus.ut.ac.id

Abstract

This study aimed to investigate the influence of Environmental, Social, and Governance (ESG) disclosure on investment in state-owned enterprises (SOEs) listed on the Indonesia Stock Exchange (IDX). The study was conducted using quantitative methods. Furthermore, the population included state-owned enterprises that were listed on the IDX. The data collection technique employed purposive sampling, with a total of 104 firm years of the sample meeting the specified criteria. The sample was selected for a duration of 7 years. Moreover, the data included corporations' annual and sustainability reports from 2016 to 2022, mostly retrieved from the ESGI dataset. In addition, the data analysis technique employed was panel regression using Eviews 12. The data analysis involved doing conventional assumption tests, including normality and multicollinearity. The findings indicated that neither FRQ nor ESG Disclosure significantly influences investment. We suspect that state-owned enterprise business strategy, including investment, depends on government assignment and national policy.

Keywords
esg disclosure; financial reporting quality; investment decisions; state-owned enterprise
Published
2025-02-18
Publisher
EAI
http://dx.doi.org/10.4108/eai.11-9-2024.2354420
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