The Effect of ESG Disclosure and Good Corporate Governance on Corporate Reputation with the Role of Gender Diversity as a Moderating Variable (An Empirical Study of Consumer Goods Sector Companies Listed on the Indonesia Stock Exchange (IDX) from 2020–202
Abstract
Businesses in the consumer goods industry rely heavily on public trust and have direct interactions with consumers, making corporate reputation a valuable intangible asset. The purpose of this research is to examine how gender diversity acts as a moderator between environmental, social, and governance (ESG) disclosure and corporate reputation. An associative quantitative method is employed in this investigation. Primary data used in this study came from primary sources, such as the 2020–2024 annual reports and sustainability reports of consumer products businesses traded on the Indonesia Stock Exchange. Using purposive sampling, 105 observations were chosen from among 21 companies for the sample. Data were examined using Stata's Random Effect Model and Moderated Regression Analysis for panel data. The findings indicate that ESG Disclosure positively impacts Corporate Reputation, however the effect is not statistically significant. Corporate Reputation is positively and significantly impacted by Good Corporate Governance. Corporate Reputation is positively impacted by gender diversity, however this effect is not statistically significant. Interestingly, neither ESG Disclosure nor Good Corporate Governance are moderated by gender diversity. These results show that good corporate governance is crucial to a company's good name, but that ESG disclosure and gender diversity need to be more seriously implemented before they can make a difference.
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