The Influence of Environmental Social Governance (ESG) and Gender Diversity on Company Performance with Firm Size as a Moderating Variable
Pengaruh Environmental Social Governance (ESG) dan Gender Diversity terhadap Kinerja Perusahaan dengan Ukuran Perusahaan sebagai Variabel Moderasi
DOI:
https://doi.org/10.21070/ups.10956Keywords:
ESG, Gender Diversity, Ukuran Perusahaan, Company PerformanceAbstract
This study aims to analyze the effect of Environmental, Social, and Governance (ESG) and gender diversity on company performance with firm size as a moderating variable. This study uses a quantitative approach with secondary data obtained from annual reports and Bloomberg ESG Scores of consumer based sector companies listed on the Indonesia Stock Exchange during 2020–2024. The sample was selected using purposive sampling and analyzed using Moderated Regression Analysis (MRA). The results show that ESG has a positive effect on company performance, while gender diversity has a negative effect on company performance. Furthermore, firm size is able to moderate the effect of ESG on company performance in a negative direction and moderate the effect of gender diversity on company performance in a positive direction. These findings indicate that sustainability practices and board characteristics play an important role in influencing company performance.
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