The Influence of Women on Board, Institutional Ownership, and ESG Disclosure on Financial Distress and Financial Performance
Pengaruh Women on Board, Kepemilikan Institusional, dan ESG Disclosure terhadap Financial Distress dan Kinerja Keuangan
DOI:
https://doi.org/10.21070/ups.11126Keywords:
Women on Board, Institutional Ownership, ESG Disclosure, Financial Distress, Financial PerformanceAbstract
This study aims to analyze the effects of women on the board, institutional ownership, and ESG disclosure on financial distress and financial performance in companies in the energy and basic materials sectors listed on the Indonesia Stock Exchange during the 2021–2024 period. The study employed a quantitative method using multiple linear regression analysis with SPSS and a sample of 102 data points. The results indicate that the presence of women on the board has no effect on financial distress and financial performance. Institutional ownership has a negative effect on financial distress and a positive effect on financial performance, while ESG disclosure has a negative effect on financial distress but no effect on financial performance. These findings suggest that corporate governance mechanisms play a crucial role in mitigating financial risk but do not directly and fully contribute to improved financial performance.
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