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"Penelitian ini bertujuan untuk mengidentifikasi dan membuktikan secara empiris pengaruh pengungkapan environmental, social, dan governance (ESG) dan setiap pilarnya terhadap biaya ekuitas dan biaya utang yang ditanggung oleh perusahaan sektor non-keuangan yang tercatat di bursa efek negara ASEAN-5 selama periode 2017-2021. Metode penelitian yang digunakan dalam menguji hipotesis penelitian adalah metode regresi data panel fixed effect model dan random effect model. Hasil penelitian membuktikan pengungkapan ESG secara signifikan berpengaruh terhadap tingkat biaya ekuitas dan biaya utang yang dibebankan investor dan kreditur pada perusahaan. Namun, ditemukan bahwa pengungkapan ESG justru berpengaruh positif terhadap biaya ekuitas dan negatif terhadap biaya utang. Hasil penelitian turut menunjukkan pengaruh dari masing-masing pilar pengungkapan ESG terhadap biaya ekuitas dan utang menghasilkan kesimpulan yang beragam. Pertama, pengungkapan environmental dan social secara signifikan berpengaruh negatif terhadap biaya utang. Kedua, hanya pengungkapan social yang secara signifikan berpengaruh positif terhadap biaya ekuitas. Ketiga, pengungkapan environmental tidak berpengaruh signifikan terhadap biaya ekuitas. Terakhir, pengungkapan governance tidak berpengaruh secara signifikan terhadap biaya ekuitas maupun biaya utang.

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This study aims to identify and prove empirically the impact of environmental, social, and governance disclosure (ESG) and each of its pillars on the cost of equity and cost of debt of non-financial sector companies listed on ASEAN-5 countries' stock exchanges for the period 2017-2021. The research method used to test the research hypothesis are the panel data regression fixed effect model and the random effect model. The results of the study prove that ESG disclosure has a significant effect on the level of cost of equity and cost of debt demanded by investors and creditors to the company. However, it was found that ESG disclosure has a positive effect on the level of cost of equity and negative effect on cost of debt. The results of the study also show that the effect of each pillar of ESG disclosure on the cost of equity and debt results in various conclusions. First, environmental and social disclosures have a significant negative effect on the cost of debt. Second, only social disclosure has a significantly positive effect on the cost of equity. Third, environmental disclosure has no significant effect on the cost of equity. Lastly, governance disclosures have no significant effect on neither the cost of equity nor the cost of debt."

"Penelitian ini bertujuan untuk membuktikan secara empiris pengaruh pengungkapan environmental, social, dan governance (ESG) terhadap performa perusahaan. Penelitian ini mengambil 39 perusahaan yang terdaftar di Bursa Efek Indonesia selama tahun 2016-2020. Pengujian hipotesis pengaruh pengungkapan ESG terhadap performa perusahaan dilakukan masing-masing menggunakan observasi data panel dengan metode regresi fixed effect model dan random effect model. Hasil penelitian menunjukkan bahwa pengungkapan ESG secara keseluruhan tidak berpengaruh signifikan terhadap performa perusahaan, sedangkan secara individu setiap komponen memiliki hasil yang berbeda. Pengungkapan environmental dan social berpengaruh tidak signifikan terhadap keseluruhan performa perusahaan, sedangkan pengungkapan governance berpengaruh negatif dan signifikan terhadap performa operasional dan pasar saham, dan tidak signifikan terhadap performa keuangan serta performa pasar perusahaan.

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This study aims to empirically prove the effect of environmental, social, and governance (ESG) disclosure on firm performance. This study takes 39 firms listed in Indonesia Stock Exchange during 2016-2020. The hypothesis testing regarding the effect of ESG disclosure on company performance are carried out using panel data observation with the fixed effect model and random effect model regression methods, in each specific case. The empirical results demonstrate that the overall ESG disclosure had no significant effect on the firm’s performance, while each component individually had mix results. Environmental and social disclosures have no significant effect on the firm’s overall performance, while governance disclosures have a negative and significant effect on operational and stock market performance, and not significant on the firm's financial performance and market performance."

"Penelitian ini mengkaji penerapan dari corporate governance terhadap biaya modal dan nilai perusahaan. Corporate governance merupakan seperangkat aturan yang mengatur relasi antara staekholders, pemerintah, pihak internal maupun eksternal, karyawan, dan manajemen yang memiliki keterkaitan dengan hak dan kewajiban mereka. Proksi yang digunakan untuk variabel corporate governance adalah komisaris independen, board size, kepemilikan manajerial, kepemilikan institusional dan kepemilikan non-institusional Tujuan dari penelitian ini adalah untuk menganalisis pengaruh corporate governance terhadap biaya modal dan nilai perusahaan. Metode penelitian yang digunakan adalah regresi data panel. Sampel yang digunakan dalam penelitian ini adalah non-keuangan yang tercatat di BEI pada periode tahun 2006-2016.Hasil penelitian ini menunjukkan bahwa variabel dari corporate governance seperti, komisaris independen, boardsize, managerial ownership dan institusional ownership memiliki pengaruh secara signifikan terhadap biaya modal. Selain itu, hasil penelitian ini juga menemukan bahwa variabel dari corporate governance seperti, boardsize, institusional ownership, dan non- institusional ownership berpengaruh secara signifikan terhadap nilai perusahaan Tobins Q.

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This study examines the use of corporate governance to the cost of capital and corporate value. Corporate governance is a set of rules which manages the relationships between stakeholders, government, internal and external parties, employees, and management that are related to their rights and obligations. The proxies used for corporate governance variables are independent commissioners, board size, managerial ownership, institutional ownership and non institutional ownership. The purpose of this study is to analyze the influence of corporate governance on the cost of capital and firm value. The research method used is panel data regression. The sample used in this study is non financial listed on the IDX in the period 2006 2016.The results of this study indicate that variables of corporate governance such as, independent commissioner, boardsize, managerial ownership and institutional ownership have a significant influence on capital costs. In addition, the results of this study also found that variables of corporate governance such as boardsize, institutional ownership, and non institutional ownership significantly influence the firm 39s value Tobin 39s Q."

"Penelitian ini bertujuan untuk mengetahui pengaruh research and development expenditure terhadap kinerja dan nilai perusahaan yang terdaftar pada Bursa Efek Indonesia periode 2017-2021. Research and development expenditure diproksikan dengan logaritma natural dari research and development expenditure masing-masing perusahaan. Sedangkan kinerja perusahaan dilihat dari kinerja keuangan yang diproksikan dengan ROA dan ROE serta kinerja pasar yang diproksikan dengan Tobins’q. Selanjutnya nilai perusahaan diukur dari logaritma natural dari market capitalization atau total kapitalisaasi pasar. Dengan menggunakan analisis data panel, hasil penelitian ini menunjukan bahwa research and development expenditure berpengaruh positif terhadap kinerja dan nilai perusahaan.

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This study aims to examine the impact of research and development expenditure on the performance and firm value of companies listed on the Indonesia Stock Exchange during the period 2017-2021. Research and development expenditure is proxied by the natural logarithm of each company's research and development expenditure. The performance of the companies is measured by financial performance indicators, namely Return on Assets (ROA) and Return on Equity (ROE), as well as market performance measured by Tobin's Q. Furthermore, firm value is assessed by the natural logarithm of market capitalization, representing the total market capitalization. Using panel data analysis, the findings indicate that research and development expenditure has a positive impact on both the performance and firm value."

"Penelitian ini bertujuan untuk mengetahui pengaruh corporate governance terhadap earnings management pada perusahaan sektor manufaktur yang terdaftar di BEI tahun 2017 – 2021. Pada triwulan II 2021, meskipun di tengah pandemi Covid 19, industri manufaktur telah menjadi kontributor terbesar atas kenaikan pertumbuhan ekonomi Indonesia mencapai 7,07%. Di akhir tahun 2021 juga, jumlah investor Pasar Modal Indonesia tercatat mengalami pertumbuhan signifikan mencapai 92,9% jika dibandingkan dengan tahun 2020. Hal ini menjadikan kebutuhan akan laporan keuangan yang andal khususnya pada perusahaan sektor manufaktur menjadi semakin besar. Untuk menguji hipotesis penelitian dilakukan regresi data panel pada model Fixed Effect menggunakan EViews 10. Hasil penelitian ini menunjukkan bahwa mekanisme corporate governance yang diteliti yaitu size of board commisioners, internal ownership, dan quality of audit tidak berpengaruh terhadap earnings management. Sedangkan independence of board commisioners berpengaruh negatif signifikan terhadap earnings management.

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The aim of this study is to determine the effect of corporate governance on earnings management manufacturing companies listed at the Indonesia Stock Exchange in 2017 – 2021. In the second quarter of 2021, even though amid the Covid-19 pandemic, the manufacturing industry has become the largest contributor to the increase of Indonesia's economic growth reaching 7,07%. Also at the end of 2021, the number of Indonesian Capital Market investors recorded a significant growth reaching 92.9% compared to 2020. This makes the need for reliable financial reports, especially for companies in the manufacturing sector, even greater. To test the hypothesis, panel data regression was performed on the Fixed Effect Model using EViews 10. The results find that the corporate governance mechanisms studied, namely the size of board commissioners, internal ownership, and quality of audit do not affect earnings management. Meanwhile, the independence of board commissioners has a significant negative effect on earnings management.

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"Tujuan penelitian ini adalah untuk menganalisis pengaruh pengungkapan Corporate Social Responsibility (CSR) terhadap kinerja keuangan perusahaan. Variabel yang digunakan adalah pengungkapan Corporate Social Responsibility (CSR) dan kinerja keuangan perusahaan, serta menggunakan variabel kontrol yaitu Ukuran Perusahaan, Leverage dan Likuiditas dari 195 perusahaan non keuangan yang terdaftar di Bursa Efek Indonesia tahun 2014-2018. Tambahkan tentang pengukuran q Tobin di sini (alasan dan ukuran apa). Hasil penelitian ini menunjukkan bahwa tidak terdapat pengaruh antara Corporate Social Responsibility (CSR) dengan kinerja keuangan perusahaan yang diukur dengan nilai pasar.The purpose of this study was to analyze the effect of Corporate Social Responsibility (CSR) disclosure on the company's financial performance. The variables used are the disclosure of Corporate Social Responsibility (CSR) and the company's financial performance, and use control variables, namely Company Size, Leverage and Liquidity of 195 non-financial companies listed on the Indonesia Stock Exchange in 2014-2018. Add about Tobin's q measurement here (reason and what size). The results of this study indicate that there is no influence between Corporate Social Responsibility (CSR) and the company's financial performance as measured by market value."

"The purpose of this paper is to determine the direct influence of the mechanism of good corporate governance (GCG) and corporate social responsibility (CSR) on financial performance as well as through earnings management as a mediating variable. The data used in this research are secondary data involving 115 companies listed on the Indonesian Stock Exchange for the period of 2014. The data used in this study are analyzed using partial least square and carried out with the help of SmartPLS 2.0 software. The results show that the mechanism of GCG doesnt has effect on earnings management, CSR has a negative effect on earnings management, mechanism of GCG has a positive effect on financial performance, but CSR and earnings management dont have effect on financial performance. The results also show earnings management cannot be a mediation between GCG mechanisms and financial performance or CSR and financial performance."

"Penelitian ini dilakukan untuk menganalisis pengaruh pengungkapan corporate social responsibility (CSR) terhadap biaya utang yang diukur melalui yield spread. Penelitian ini menggunakan sampel perusahaan publik di Indonesia yang menerbitkan obligasi dalam rentang tahun 2011-2015. Hasil penelitian menunjukkan bahwa pengungkapan CSR berpengaruh negatif terhadap yield spread sebagai proksi biaya utang. Hal ini disebabkan karena informasi mengenai aktivitas CSR dapat mengurangi adanya informasi asimetri, terutama bagi investor publik. Pengungkapan CSR memungkinkan investor untuk dapat menilai perusahaan dengan lebih baik sehingga imbal hasil yang diminta oleh investor dapat menjadi semakin rendah.

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The aim of this research is to analyze the impact of corporate social responsibility (CSR) disclosure on cost of debt as measured by bond yield spread. Sample of this research are firms that issued bonds during the year of 2011-2015. The result of this study indicates that CSR disclosure has negative impact on yield spread. Informations regarding the firms’ CSR activities are believed to reduce asymmetric information, mainly for public investors. Such CSR disclosure could enhance investors’ assessment of the firms and therefore they may require lower yield."

"Penelitian ini bertujuan untuk menganalisis pengaruh corporate governance struktur kepemilikan dan struktur modal terhadap agency cost pada perusahaan sektor non keuangan yang terdaftar di Bursa Efek Indonesia periode 2008 2012 Corporate governance diproksikan dengan board of commissioner size dan proporsi dewan komisaris Struktur kepemilikan diproksikan dengan kepemilikan manajerial dan kepemilikan institusional Sedangkan struktur modal diproksikan dengan debt to asset ratio Agency cost pada penelitian ini diproksikan dengan asset utilisation ratio Penelitian ini merupakan penelitian kuantitatif dengan menggunakan regresi data panel dengan uji analisis Random Effect Model REMHasil penelitian ini menunjukan bahwa secara simultan corporate governance struktur kepemilikan dan struktur modal berpengaruh secara signifikan terhadap agency cost Selanjutnya secara parsial hasil penelitian ini menunjukan bahwa board of commissioner size kepemilikan manajerial kepemilikan institusional dan debt to asset ratio memiliki pengaruh yang negatif signifikan terhadap agency cost Kata Kunci Agency cost corporate governance struktur kepemilikan dan struktur modal.

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This study aims to analyze the effect of corporate governance, ownership structure, and capital structure on agency cost of non-financial companies listed on the Indonesia Stock Exchange in 2008-2012. Corporate governance is proxied by board of commissioner size and proportion of independent commissioners. Ownership structure is proxied by managerial ownership and institutional ownership. Whereas, capital structure is proxied by debt-to-asset ratio. In this study, agency cost is measured by asset utilisation ratio. This research is a quantitative research by using panel data regression. This research is analyzed with Random Effect Model (REM).

The result shows that corporate governance, ownership structure, and capital structure simultaneously have significant effect on agency cost. Furthermore, board of commissioner size, managerial ownership, institutional ownership, and debt-to-asset ratio significantly affect agency cost and have negative correlation with agency cost."

"Penelitian ini menganalisis pengaruh hutang terhadap market power perusahaan non keuangan yang terdaftar di Bursa Efek Indonesia pada periode 2007-2010. Variabel bebas dalam penelitian ini adalah hutang, dimana hutang dibagi menjadi hutang pada tahun sekarang (hutang tahun t) dan hutang tahun sebelumnya (hutang tahun t-1). Selain variabel independen, dalam penelitian ini digunakan juga variabel kontrol berupa ukuran perusahaan, struktur aset, dan pertumbuhan perusahaan. Market power dengan menggunakan proksi markup dan Lerner Indeks menjadi variabel dependen dalam penelitian ini. Untuk analisis selanjutnya, hutang juga dibagi menjadi hutang tinggi dengan ketentuan rasio utang di atas 50%, yang disebut sub-sampel.Hasil yang diperoleh adalah terdapat pengaruh yang positif dan signifikan antara hutang dan market power dengan proksi Lerner Indeks pada sampel keseluruhan, sedangkan pada sub sampel pengaruh hutang terhadap market power adalah positif tetapi tidak signifikan.

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This study analyses the impact of debt to market power of non-financial companies listed in Indonesia Stock Exchange for the year 2007 to 2010. Independent variable in this study is debt, which is divided into current debt and prior year debt. In addition to the independent variable, this study also uses control variables such as firm size, tangibility, and growth. Dependent variable in this study is market power using markup proxy and Lerner Index proxy. In further analysis, debt is divided into high debt with the debt ratio above 50% called sub-sample.

The result for the whole sample shows that there is a positive and significant relationship between debt and market power using Lerner Index proxy for the entire sample. Nevertheless, the effect of debt to market power is positive albeit insignificant in the sub sample."