Jannah, Zuiyyinatul (2026) FINANCIAL SLACK DAN ESG DISCLOSURE DENGAN MODEL KURVILINEAR. Undergraduate thesis, UPN Veteran Jawa Timur.
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Abstract
This study examines the impact between financial slack and ESG Disclosure which serves as a proxy for ESG p perfoma erformance in Indonesia. Financial slack is proxied by the quick ratio, and ESG performance is measured using the Bloomberg ESG Disclosure Score. The study sample consists of 545 observations from non-financial companies listed on the Indonesia Stock Exchange (IDX) from 2020 to 2024. Hypothesis testing employs Ordinary Least Squares (OLS) regression analysis with a fixed-effects model and cluster-based robust standard errors, along with the Lind & Mehlum (2010) test to statistically confirm the curve’s shape. The findings reveal that financial slack significantly influences ESG performance in an inverted U-shaped pattern at the 1% significance level, with the turning point falling within the data range. This pattern is explained by integrating slack resource theory and stakeholder theory on the left side of the curve (the growth phase), and agency theory on the right side of the curve (the decline phase due to weakened financial discipline when slack becomes excessive). The results of this study enrich the literature on the relationship between financial slack and ESG performance, particularly in developing countries with mandatory ESG regulations, and are of practical benefit to management, investors, and regulators. Keywords : Financial Slack, ESG Disclosure, Inverted U-shape, Slack Resource Theory, Agency Theory
| Item Type: | Thesis (Undergraduate) | ||||||||
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| Subjects: | H Social Sciences > HC Economics H Social Sciences > HF Commerce > HF5601 Accounting H Social Sciences > HG Finance > HG1706-1708 Accounting. Bookkeeping H Social Sciences > HG Finance > HG4001-4285 Finance management. Business finance. Corporation finance |
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| Divisions: | Faculty of Economic and Business > Departement of Accounting | ||||||||
| Depositing User: | Zuiyyinatul Jannah | ||||||||
| Date Deposited: | 26 Aug 2026 03:14 | ||||||||
| Last Modified: | 10 Sep 2026 01:35 | ||||||||
| URI: | https://repository.upnjatim.ac.id/id/eprint/58835 |
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