Pengaruh Corporate Governance dan Public Ownership terhadap Sustainability Performance pada Perusahaan Barang Konsumsi Primer di Indonesia

Husnul Khotimah; Muhammad Ikhsan Febriyanto; Euis Nessia Fitri

doi:10.37481/jko.v4i2.212

Authors

Husnul Khotimah Universitas Pamulang
Muhammad Ikhsan Febriyanto Universitas Pamulang
Euis Nessia Fitri Universitas Pamulang

DOI:

https://doi.org/10.37481/jko.v4i2.212

Keywords:

Good Corporate Governance, Public Ownership, Sustainability Performance, Accountability, Indonesia

Abstract

The growing global awareness of sustainability issues has driven companies to integrate environmental, social, and governance (ESG) aspects into their operational and strategic decisions. In Indonesia, particularly in the primary consumer goods sector, the implementation of Good Corporate Governance (GCG) and the role of public ownership are considered crucial in achieving sustainable business performance. This study aims to examine the effect of GCG and public ownership on sustainability performance in primary consumer goods sector companies listed on the Indonesia Stock Exchange during the 2020–2024 period. A quantitative approach with a causal-associative method was employed. The sample consisted of 11 companies selected using purposive sampling, resulting in 55 observations. Data were analyzed using panel data regression, including descriptive analysis, model testing, classical assumption testing, and hypothesis testing. The results indicate that both GCG and public ownership have a significant positive effect on sustainability performance. Companies with stronger governance mechanisms and higher public shareholding tend to demonstrate greater accountability and transparency in implementing sustainability initiatives. These findings highlight the importance of enhancing corporate governance practices and encouraging shareholder participation to improve long-term sustainability. Furthermore, policymakers and regulators are encouraged to strengthen governance frameworks and disclosure requirements to promote responsible and sustainable business behavior across industries.

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