Corporate Financial Performance, Environmental, Social, And Governance (Esg Performance), Intellectual Capital, And Stock Return In Asean-5 Countries

Hartono, Wendra (2025) Corporate Financial Performance, Environmental, Social, And Governance (Esg Performance), Intellectual Capital, And Stock Return In Asean-5 Countries. PhD thesis, Perpustakaan Hamzah Sendut.

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Abstract

The covid-19 pandemic has significantly reduced the asean-5 stock market index's stock return. Factors such as environmental social governance (esg) performance and intellectual capital (ic) have been studied in developed countries but are rarely used as indicators for purchasing stocks in developing countries. The purpose of this study is to investigate the effect of non-financial (esg performance and ic components) and financial performance on stock return from 2017 to 2021 in asean-5 countries. This study uses signalling theory as an underpinning theory, legitimacy theory, and rbv theories as supporting theories to investigate the effect of non-financial and financial performance on stock return in asean-5 countries. This study is categorized as a quantitative research approach, using unbalanced panel data analysis obtained from the annual financial reports and accounts of selected enterprises from asean-5 nations, both before and during the covid-19 pandemic. The total data observation is 984 companies gathered from purposive sampling method and has two models covering data from 2017 to 2021. Model 1 uses data sample from the year 2017 to 2021 (overall condition). Model 2 uses data sample from the year 2017 to 2019 (before covid-19 pandemic). Model 3 uses data sample from the year 2020 to 2021 (during covid-19 pandemic). In this study, there are five diagnostic or assumption tests. There are multicollinearity, heteroskedasticity,

Item Type: Thesis (PhD)
Subjects: H Social Sciences > H Social Sciences (General) > H1-99 Social sciences (General)
Divisions: Pusat Pengajian Siswazah Perniagaan (Graduate School of Business) > Thesis
Depositing User: Mr Hasmizar Mansor
Date Deposited: 25 Jun 2026 06:37
Last Modified: 25 Jun 2026 06:37
URI: http://eprints.usm.my/id/eprint/64460

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