Pengaruh Environmental, Social, and Governance (ESG) Score dan Energi Terbarukan Terhadap Return Saham dengan Variabel Kontrol GDP Pada Perusahaan Sub Sektor Logam dan Mineral di ASEAN-3

Puspa, Andila Dwi (2026) Pengaruh Environmental, Social, and Governance (ESG) Score dan Energi Terbarukan Terhadap Return Saham dengan Variabel Kontrol GDP Pada Perusahaan Sub Sektor Logam dan Mineral di ASEAN-3. Sarjana (S1) thesis, Univesitas Islam 45.

	Text PENDAHULUAN.pdf Download (913kB)
	Text BAB I.pdf Download (340kB)
	Text BAB II.pdf Restricted to Repository staff only Download (385kB) | Request a copy
	Text BAB III.pdf Restricted to Repository staff only Download (356kB) | Request a copy
	Text BAB IV.pdf Restricted to Repository staff only Download (553kB) | Request a copy
	Text BAB V.pdf Download (195kB)
	Text DAFTAR PUSTAKA.pdf Download (194kB)

Abstract

This study analyzes the effect of Environmental, Social, and Governance (ESG) Scores and Renewable Energy Consumption (REC) on stock returns in metal and mineral industry sub-sector companies in the ASEAN-3 countries, namely Indonesia, Malaysia, and Thailand, during the 2020–2023 period. The independent variables in this study are ESG Score and REC, while the dependent variable is stock return, with Gross Domestic Product (GDP) serving as the control variable. The research method used is a quantitative approach with panel data regression analysis. The research sample consists of metal and mineral sub-sector companies that met the data availability criteria during the 2019–2023 period, with a population of metal and mineral sector companies in Indonesia, Malaysia, and Thailand from 2019 to 2023. A total of 6 companies were used in this study. The results of the multiple linear regression analysis based on panel data processed using EViews 12 are as follows: RETURN = -0.911 + 0.803 (ESG) + 1.412 (REC) + 0.040 (GDP) – 0.338 D1 + 0.292 D2 + 0.397 D3 + e Meanwhile, the results of the t-test show that the ESG Score variable does not have a significant effect on stock returns, with a probability value of 0.2449 > 0.05. In contrast, the REC variable has a significant effect on stock returns, with a probability value of 0.0476 < 0.05. Furthermore, the GDP variable does not have a significant effect on stock returns, with a probability value of 0.2653 > 0.05. In addition, the results of the R² test indicate that the adjusted R-square value is 0.038948, or 3.89%, meaning that the independent variables are able to explain 3.89% of the variation in the dependent variable, while the remaining percentage is influenced by other factors outside the scope of this study.

Actions (login required)

View Item