Sustainable Financial Performance And Esg Disclosure Of Five Tourism-Based Companies In Indonesia: A Quantitative Study From The IDX

Abstract

This study aims to analyze the influence of ESG (Environmental, Social, Governance) disclosure on the financial performance of tourism-based companies listed on the Indonesia Stock Exchange from 2020 to 2023. Using a quantitative approach and multiple regression analysis, ESG disclosure was measured through content analysis of 30 GRI-based indicators. The main findings reveal that ESG disclosure has a significant positive effect on profitability ratios (ROA, ROE, NPM), but does not significantly affect liquidity (CR) and capital structure (DER). The novelty of this study lies in providing empirical evidence on the impact of ESG disclosure in the Indonesian tourism sector, highlighting the importance of sustainability practices in enhancing company profitability.