Pengungkapan Environmental, Social, dan Governance (ESG) dan Risiko Perusahaan di Industri Perbankan Indonesia

Authors

DOI:

https://doi.org/10.30595/jmbt.v4i2.24277

Keywords:

Pengungkapan ESG, Risiko Perusahaan, Manajemen Risiko

Abstract

Akademisi telah mengkaji hubungan pengungkapan ESG terhadap performa perusahaan, salah satunya performa dari aspek risiko. Penelusuran terhadap penelitian terdahulu mengidentifikasi bahwa terdapat gap yang menarik untuk diteliti terkait bagaimana efek pengungkapan ESG yang terintegrasi terhadap risiko perusahaan. Penelitian ini mengkaji risiko perusahaan sebagai variabel terikat dengan pengungkapan ESG sebagai variabel bebas. Objek studi pada penelitian ini adalah perusahaan perbankan yang terdaftar di Bursa Efek Indonesia. Pengungkapan ESG diukur dengan Standar GRI G4 pada laporan keberlanjutan. Risiko perusahaan diukur melalui tiga aspek, yaitu aspek total risiko, risiko sistematik, dan risiko spesifik perusahaan. Analisis dilakukan terhadap data panel dari perusahaan perbankan Indonesia di kurun waktu 2020 hingga 2022 dengan menggunakan regresi data panel. Hasil penelitian menemukan adanya hubungan negatif yang signifikan antara pengungkapan ESG dengan risiko perusahaan yang diukur dari tingkat volatilitas harga saham, risiko sistematik, dan risiko spesifik perusahaan. Temuan penelitian ini memperkuat hasil penelitian sebelumnya bahwa pengungkapan ESG yang dilakukan dengan ekstensif, artinya melibatkan keseluruhan komponen lingkungan, sosial, dan tata kelola, akan berdampak pada penurunan tingkat risiko perusahaan. Hasil penelitian ini dapat dikembangkan lebih lanjut dengan mengkaji implikasi ESG, yang diukur dari pengungkapan dan kinerjanya, terhadap risiko perusahaan.

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Published

2024-12-30

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Vol. 4 No. 2 (2024): Desember

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