ENVIRONMENTAL SOCIAL GOVERNANCE AND FIRM CHARACTERISTICS: RETURN IN ASEAN COUNTRIES
Anton Indra Budiman1, Mohammad Adam2, Isnurhadi3, Tertiarto Wahyudi4

1Accounting Departement, Economic Faculty, Sriwijaya University, Palembang, Indonesia
2Manajement Department, Economic Faculty, Sriwijaya University, Palembang, Indonesia
3 Manajement Department, Economic Faculty, Sriwijaya University, Palembang, Indonesia
4 Accounting Departement, EconomicFaculty, Sriwijaya University, Palembang, Indonesia

Abstract

The level of return on investment is the main target of investors^ portfolios. In order to achieve the target return, investors actively choose markets that are believed to provide the most optimal returns. Post-Covid-19, in ASEAN countries, especially the mining sector, is one of the sectors targeted by investors. This study aims to examine the effect of Environmental Social Government (ESG) and company characteristics in the mining sector in ASEAN countries in increasing stock returns. The method used in this study is Robust Least Squares. This study used 16 mining companies as research samples with an observation period of 10 years, the results of the study prove that Environmental Social Government (ESG), and company characteristics represented by Earning Per Share (EPS), cash flow-to-price (CF2P), and Book-to-Market (BTM) have a significant positive effect on stock returns and the Covid pandemic (DCOV) has a significant negative effect on stock returns.

Keywords: Stock Return, Environmental Social Government, Earning Per Share, cash flow-to-price, Book-to-Market, and the Covid pandemic (DCOV)

Topic: Sustainability accounting