The Impact Of Environment, Social, Governance (ESG) Disclosure, And Financial Performance On Stock Returns (Study On The ESG Quality 45 IDX Kehati Index 2018-2022)

Abstract

This research aims to examine the Impact of Environmental, Social, and Governance (ESG) Disclosure, and Financial Performance on Stock Returns on the ESG Quality 45 Kehati Index. This study uses a population of companies that are consistently included in the ESG Quality 45 Kehati index in 2018-2022 with a sample size of 80. This study uses multiple linear regression analysis on SPSS 26 software. The results of this study indicate that the environment has a positive effect on stock returns, social has a positive effect on stock returns, governance has a negative effect on stock returns, ESG disclosure has no effect on stock returns, Return Of Equity (ROE) has a negative effect on stock returns and Earning Per Share (EPS) has a negative effect on stock returns