Assessing The Influence of ESG Disclosures, Gross Written Premium, and Firm Size on Corporate Value: Evidence From Indonesia General Insurance Industry
DOI:
https://doi.org/10.30872/miceb.v7i1.15540Keywords:
Corporate Value, ESG Disclosures, Firm Size, General Insurance, Gross Written Premium (GWP), IndonesiaAbstract
The firm valuations of Indonesia's general insurance companies fluctuated between 2020 and 2024 despite rising premium volumes, indicating potential shortcomings in underwriting quality and a lack of ESG transparency. This study aims to examine how corporate value in Indonesia's general insurance subsector is affected by firm size (SIZE), gross written premium (GWP), and environmental, social, and governance (ESG) disclosures. Using a quantitative panel-data technique, purposeful sampling was applied to 12 listed businesses on the Indonesia Stock Exchange (60 firm-year observations). To capture firm-specific features and manage unobserved heterogeneity, a Fixed-Effect panel regression model was utilized.The results show that ESG, GWP, and firm size all have distinct effects, and the model effectively explains differences in firm value across the chosen organizations. The study, which focuses on general insurance issuers between 2020 and 2024, does not include direct measurements of underwriting quality or claim trends. In practical terms, businesses might make risk management and ESG disclosure more transparent, and regulators might strengthen sectoral reporting requirements to improve comparability and investor confidence. Overall, this study provides sector-specific empirical evidence that links market valuation in Indonesia's general insurance industry to underwriting activity and ESG disclosure an area that has not gotten enough attention
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