Sustainability report disclosure effect on market performance of the companies in The SRI-KEHATI Index Group / Luthpiyah Juliandara and Budi Purwanto

Many companies have not issued sustainability reports. If we look at market performance in the SRI-KEHATI Index whose members are companies that issue Sustainability Report, their market performance tends to increase compared to the market performance of the LQ45 Index, which not all members issue sustainability reports. However, the market performance that tends to rise is not reflected in financial performance. The financial performance of companies in the SRI-KEHATI Index group is lower than the financial performance of companies in the LQ45 Index group. The purpose of the study was to analyze the fundamental performance of the SRI-KEHATI Index group that performed no better than the LQ45 Index group and analyzed the effect of economic performance disclosure, social performance, environmental performance, and fundamental performance on market performance in the SRI-KEHATI Index group and group LQ45 Index. The sampling technique with purposive sampling resulted in a sample of 48 companies. The method in this study uses multiple linear regression analysis. Based on the results of the study of independent variables that have a significant effect on long-term debt (DER), activities of total asset turnover (TATO), environmental performance disclosure (EnDI) have a significant positive effect on changes in the company's market performance indicated by price to book value (PBV). While disclosure of social performance has a negative and significant influence on the dependent variable.