Published: 2026-01-01

Pengaruh Struktur Modal, Leverage dan Environmental Social Governance (ESG) terhadap Kinerja Perusahaan

DOI: 10.35870/emt.v10i1.5399

Silvia Sari, Elly Rahmalia Sunandi
  • Silvia Sari: Universitas Pamulang
  • Elly Rahmalia Sunandi: Universitas Pamulang
Cover Jurnal EMT KITA Vol 10 1 Januari 2026

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Abstract

One of the main objectives of a company is to improve performance in a sustainable manner. To achieve this, companies must be able to manage their financial structure and implement responsible business practices. This study aims to empirically examine the effect of capital structure, leverage, and Environmental Social Governance (ESG) on firm performance, both partially and simultaneously. This research was conducted by analyzing companies in the basic materials sector listed on the Indonesia Stock Exchange (IDX) during the 2019 to 2023 period. The sample consisted of 8 companies selected using a purposive sampling technique. The data used in this study are secondary data in the form of financial reports and ESG reports. This study employed a panel data regression method with analysis conducted using Eviews 12 software. The results of the study show that the best-fit model is the Common Effect Model (CEM). The findings reveal that capital structure, leverage, and ESG simultaneously influence firm performance. Partially, ESG does not have a significant effect on firm performance, leverage has no significant effect, and capital structure also does not have a significant effect on firm performance.

Keywords

Capital Structure ; Leverage ; ESG ; Firm Performance

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How to Cite

Sari, S., & Sunandi, E. R. (2026). Pengaruh Struktur Modal, Leverage dan Environmental Social Governance (ESG) terhadap Kinerja Perusahaan. Jurnal EMT KITA, 10(1), 253-261. https://doi.org/10.35870/emt.v10i1.5399
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This article has been peer-reviewed and published in the Jurnal EMT KITA. The content is available under the terms of the Creative Commons Attribution 4.0 International License.

  • Issue: Vol. 10 No. 1 (2026)

  • Section: Articles

  • Published: %750 %e, %2026

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Author Biographies
Silvia Sari
Google Scholar ResearchGate ORCID

Universitas Pamulang, Kota Tangerang Selatan, Provinsi Banten, Indonesia.

Elly Rahmalia Sunandi
Google Scholar ResearchGate ORCID

Universitas Pamulang, Kota Tangerang Selatan, Provinsi Banten, Indonesia.

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