Pengaruh Environmental, Social, and Governance (ESG) Disclosure dan Volatilitas Harga Energi Terhadap Return Saham Pada Perusahaan Sektor Energi di BEI

Suhendri ; Suhendri ; Apriadi ; Deri
Jurnal Ekonomi, Bisnis dan Manajemen (EBISMEN) 📅 2025 Vol 4, No 4 🔗 DOI: 10.58192/ebismen.v4i4.3771
Abstract
This study aims to examine the effect of Environmental, Social, and Governance (ESG) disclosure and energy price volatility on stock returns of energy sector companies listed on the Indonesia Stock Exchange (IDX) during the 2022–2024 period. A quantitative approach was employed using multiple linear regression as the analytical method. The sample consisted of 10 energy companies selected through purposive sampling, based on the availability of sustainability reports, stock price data, and research completeness. The results indicate that ESG disclosure has a positive and significant effect on stock returns, suggesting that companies with higher sustainability transparency tend to gain stronger investor confidence. Energy price volatility also shows a positive and significant effect on stock returns, reflecting the sector’s sensitivity to global energy price dynamics. Simultaneously, both variables significantly influence stock returns, although the relatively low coefficient of determination implies that other factors should also be considered. This study highlights the importance of integrating internal factors (ESG) and external factors (energy price volatility) for investors when making investment decisions in the energy sector.
Keywords
ESG disclosure; energy price volatility; stock returns; energy sector; Indonesia Stock Exchange
How to Cite

Suhendri, et al. (2025). Pengaruh Environmental, Social, and Governance (ESG) Disclosure dan Volatilitas Harga Energi Terhadap Return Saham Pada Perusahaan Sektor Energi di BEI. Jurnal Ekonomi, Bisnis dan Manajemen (EBISMEN), 4(4). https://doi.org/10.58192/ebismen.v4i4.3771

Suhendri, Suhendri; Apriadi, Deri, "Pengaruh Environmental, Social, and Governance (ESG) Disclosure dan Volatilitas Harga Energi Terhadap Return Saham Pada Perusahaan Sektor Energi di BEI," Jurnal Ekonomi, Bisnis dan Manajemen (EBISMEN), vol. 4, no. 4, 2025.

Suhendri, Suhendri; Apriadi, Deri. "Pengaruh Environmental, Social, and Governance (ESG) Disclosure dan Volatilitas Harga Energi Terhadap Return Saham Pada Perusahaan Sektor Energi di BEI." Jurnal Ekonomi, Bisnis dan Manajemen (EBISMEN), vol. 4, no. 4, 2025.

Suhendri, Suhendri; Apriadi, Deri. "Pengaruh Environmental, Social, and Governance (ESG) Disclosure dan Volatilitas Harga Energi Terhadap Return Saham Pada Perusahaan Sektor Energi di BEI." Jurnal Ekonomi, Bisnis dan Manajemen (EBISMEN) 4, no. 4 (2025).

Suhendri, et al. (2025) 'Pengaruh Environmental, Social, and Governance (ESG) Disclosure dan Volatilitas Harga Energi Terhadap Return Saham Pada Perusahaan Sektor Energi di BEI', Jurnal Ekonomi, Bisnis dan Manajemen (EBISMEN), 4(4). doi: 10.58192/ebismen.v4i4.3771.

Suhendri, Suhendri; Apriadi, Deri. Pengaruh Environmental, Social, and Governance (ESG) Disclosure dan Volatilitas Harga Energi Terhadap Return Saham Pada Perusahaan Sektor Energi di BEI. Jurnal Ekonomi, Bisnis dan Manajemen (EBISMEN). 2025;4(4).

Artikel Terkait

Pengaruh Tingkat Pendidikan Terhadap Kualitas Laporan Keuangan Berbasis SAK EMKM Dengan Sistem Informasi Akuntansi Sebagai Variabel Moderasi : Studi Kasus Pada Coffee Shop Kota Kediri

Sinky, Sita Prasti; Luayyi, Sri; Fauziyah, Fauziyah

Pengaruh Rasio Keuangan Terhadap Earning Per Share: Studi Sektor Makanan dan Minuman di Indonesia

Hidayat, Famelia Widya; Zaman, Badrus; Kurniawan, Andy

Strategi Pengelolaan Keuangan Pada Online Shop di Pare-Pare

Ar, Andi; Adhiwijaya, Adhiwijaya; Anisafitri, Anisafitri; Mukriani, Mukriani

Implementasi E-Commerce dan QRIS Dalam Peningkatan Pendapatan Pada UMKM Cemilan Sultan di Kota Parepare

Damis, Sariana; Nuryadin, Rusmin; Masnawati, Masnawati; Intan, Nur

Strategi Manajemen Operasional, Pemasaran, dan Evaluasi Keuangan UMKM Bolu Kambu Daeng Rosi Dalam Meningkatkan Daya Saing Produk Tradisional di Kabupaten Barru

Arfianty, Arfianty; Tarawiru, Yasri; Yusuf, Nur Hidaya; Khaima, Husnul

Strategi Pemulihan UMKM di Kelurahan Lapadde, Kota Parepare Pasca Pandemi Covid-19 Sejak 2022-2025

Yusuf, Syarifuddin; Parman, Parman; natasia, Dita; Andini, Andini
Tren Sitasi Jurnal