Fitria, Nurul (2025) ANALISIS RETURN SAHAM DALAM MENDUKUNG SDGS 3 DI BURSA ASEAN TAHUN 2024 DIMODERASI UKURAN PERUSAHAAN. Masters thesis, UPN Veteran Jawa Timur.
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Abstract
This study aims to analyze the influence of Return on Asset (ROA), Sales Growth, Debt to Equity Ratio (DER), and Environmental, Social, and Governance (ESG) Disclosure on stock returns, as well as examine the role of firm size as a moderating variable in health sub-sector companies listed on ASEAN stock exchanges in 2024. The selection of the health sector is based on its contribution to achieving Sustainable Development Goals (SDGs) 3, namely Good Health and Well-Being. This research uses secondary data obtained from financial reports and sustainability reports that comply with GRI Standards 2, 300, and 400. Out of a total population of 147 companies, 75 companies met the purposive sampling criteria. Data were analyzed using Moderated Regression Analysis (MRA). The results show that all variables influence stock returns except Return on Asset (ROA). The moderation results indicate that firm size does not moderate the effects of ROA, sales growth, and DER on stock returns. However, firm size is proven to strengthen the effect of ESG Disclosure on stock returns. This study provides an important contribution by demonstrating that sustainability disclosure not only builds a positive corporate image but can also enhance stock returns. The increase in stock returns further supports the achievement of SDGs 3 through rising investor interest, which encourages greater investment funds for sustainable health business practices. Keywords: Stock Return, Financial Ratios, ESG Disclosure, SDGs 3
| Item Type: | Thesis (Masters) | ||||||||||||
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| Subjects: | H Social Sciences > HG Finance > HG4001-4285 Finance management. Business finance. Corporation finance | ||||||||||||
| Divisions: | Faculty of Economic and Business > Magister Accounting | ||||||||||||
| Depositing User: | M.Ak Nurul Fitria | ||||||||||||
| Date Deposited: | 08 Dec 2025 03:00 | ||||||||||||
| Last Modified: | 08 Dec 2025 03:44 | ||||||||||||
| URI: | https://repository.upnjatim.ac.id/id/eprint/48217 |
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