%I UNIVERSITAS SULTA AGENG TIRTAYASA
%X Environmental, Social, and Governance (ESG) is increasingly becoming a focus in the business world, especially in the mining industry which has a significant impact on the environment and society. ESG is not only a benchmark for corporate sustainability, but also plays a role in attracting investors, improving corporate image, and ensuring regulatory compliance. In the context of the Indonesian Sharia Stock Index (ISSI), ESG reflects sharia compliance values that emphasize social responsibility and good governance. This study analyzes the effect of Cost of Capital, Profitability, Leverage, and Sharia Compliance on ESG. The study population was 36 mining companies listed on the ISSI for the 2019-2023 period, with a sample of 11 companies and a total of 55 observations. The results of the study show that simultaneously, the variables cost of capital, profitability, leverage, and sharia compliance have an effect on Environmental, Social, and Governance (ESG). Partially, Sharia Compliance has a positive and significant effect on Environmental, Social, and Governance (ESG), Leverage has a negative and significant effect on Environmental, Social, and Governance (ESG), while Cost of Capital and Profitability have no effect on Environmental, Social, and Governance (ESG). The implication of this study is the importance of implementing strong sharia compliance as a strategy to improve supervision of ESG disclosure. In addition, companies must pay attention to the level of assets financed by debt, because the greater the company's assets financed by debt, the lower the ESG disclosure because the company prioritizes its obligations to pay debts to other parties. These results also underline that ESG disclosure is not determined by the company's cost of capital ratio and profitability.
%L eprintuntirta49787
%K Environmental, Social, and Governance (ESG), Cost of Capital,
Profitability, Leverage, Sharia Compliance, Indonesian Sharia Stock Index (ISSI).
Environmental, Social, and Governance (ESG), Biaya Modal,
Profitabilitas, Leverage, Kepatuhan Syariah, Indeks Saham Syariah Indonesia
(ISSI).
%T DETERMINAN YANG MEMENGARUHI 
ENVIRONMENTAL, SOCIAL, AND GOVERNANCE (ESG)
(Studi Empiris Pada Perusahaan Pertambangan yang Terdaftar di Indeks Saham Syariah Indonesia (ISSI) Periode 2019-2023)
%A AYU KONITA
%D 2025
%O Environmental, Social, and Governance (ESG) semakin menjadi fokus dalam dunia bisnis, terutama di industri pertambangan yang berdampak signifikan terhadap lingkungan dan sosial. ESG tidak hanya menjadi tolak ukur keberlanjutan perusahaan, tetapi juga berperan dalam menarik investor, meningkatkan citra perusahaan, dan memastikan kepatuhan regulasi. Dalam konteks Indeks Saham Syariah Indonesia (ISSI), ESG mencerminkan nilai kepatuhan syariah yang menekankan tanggung jawab sosial dan tata kelola yang baik. Penelitian ini menganalisis pengaruh Biaya Modal, Profitabilitas, Leverage, dan Kepatuhan Syariah terhadap ESG. Populasi penelitian adalah 36 perusahaan pertambangan yang terdaftar di ISSI periode 2019-2023, dengan sampel 11 perusahaan dan total 55 observasi. Hasil penelitian menunjukkan bahwa secara simultan, variabel biaya modal, profitabilitas, leverage, dan kepatuhan syariah berpengaruh terhadap Environmental, Social, and Governance (ESG). Secara parsial, Kepatuhan Syariah berpengaruh positif dan signifikan terhadap Environmental, Social, and Governance (ESG), Leverage berpengaruh negatif dan signifikan terhadap Environmental, Social, and Governance (ESG), sedangkan Biaya Modal dan Profitabilitas tidak berpengaruh terhadap Environmental, Social, and Governance (ESG). Implikasi penelitian ini adalah pentingnya penerapan kepatuhan syariah yang kuat sebagai strategi untuk meningkatkan pengawasan terhadap pengungkapan ESG. Selain itu, perusahaan harus memperhatikan  banyaknya tingkat aset yang dibiayai oleh utang, karena semakin besar aset perusahaan yang dibiayai oleh utang maka pengungkapan ESG semakin menurun karena perusahaan lebih mengedepankan kewajibannya untuk membayar utang kepada pihak lain. Hasil ini juga menggaris bawahi pengungkapan ESG tidak ditentukan oleh rasio biaya modal dan profitabilitas perusahaan.