PENGARUH EKO EFISIENSI, GOOD CORPORATE GOVERNANCE DAN ENVIRONMENTAL DISCLOSURE TERHADAP KINERJA KEUANGAN
DOI:
https://doi.org/10.34127/jrlab.v15i1.2165Keywords:
Eco-Efficiency, Good Corporate Governance, Environmental Disclosure, Financial PerformanceAbstract
This research investigates how eco-efficiency, good corporate governance, and environmental disclosure influence the financial performance of personal care product manufacturing firms traded on Indonesia’s stock market throughout the 2020–2024 timeframe. A quantitative methodology was employed, utilizing secondary information extracted from annual corporate reports and sustainability publications. Eco-efficiency assessment relies on energy utilization ratios, good corporate governance is represented through independent commissioner percentages, while environmental disclosure is evaluated via a disclosure scoring system aligned with Global Reporting Initiative (GRI) frameworks. Financial performance is assessed through Return on Assets (ROA) metrics. Statistical analysis employed multiple linear regression techniques supported by jamovi analytical software. The results indicate that eco-efficiency has a negative and significant effect on financial performance, while corporate governance has a positive and significant effect. Meanwhile, environmental disclosure does not have a significant effect on financial performance. These observations suggest that enhanced energy utilization practices and strengthened good corporate governance mechanisms advance financial performance, while environmental disclosure practices have yet to demonstrate tangible financial advantages.
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