Several studies primarily investigate the influence of environmental, social, and governance on firm performance in a developed country where markets have matured, and investors are aware of corporate social responsibility activities. Therefore, studies in developing countries are still rare and mixed. This study examines the effect of Environmental, Social, and Governance (ESG) information on firm performance in ASEAN developing countries. We observed companies in ASEAN developing countries (Indonesia, Malaysia, Philippines, Thailand, and Vietnam) during 2010-2020. The information on ESG score and ROA as a proxy for firm performance measures ESG. Regression test results showed that ESG has a positive effect on firm performance. We also found that three components of ESG, environmental, Social, and Governance, positively affect firm performance. Robustness test results showed that overall ESG information, environmental information, and social initiatives affect the firm’s market performance (Tobin’s Q). Research originality in this study proves that developing countries have a positive effect between ESG disclosure and company performance. ESG, in the long term, would build effective governance and increase shareholder value. The research implication is to suggest a company has ESG information due to empirical testing that ESG information enhances a firm operational and market performance.JEL Classification: G30, Q56, Q50How to Cite:Makhdalena., Zulvina, D., Zulvina, Y., Amelia, R. W., & Wicaksono, A. P. (2023). Environmental, Social, Governance, and Firm Performance in Developing Countries: Evidence from Southeast Asian. Etikonomi, 22(1), 65–78. https://doi.org/10.15408/etk.v22i1.25271.

This study aimed to examine the existence of female directors and their impact on the company's financial performance of Mining sector companies listed on Indonesian Stock Exchange which had information about Female Directors, ROA and control variables such as size, leverage and age during 2017-2019. The type of data from this research was secondary data. Data source for women directors was obtained from idx.co.id and data on ROA, size, leverage and age was obtained from Thomson & Reuters. The data analysis technique in this study used path analysis with SPSS. The results showed that the presence of female directors had no effect on the performance of the mining sector financial companies listed on the IDX as well as the control variables except size.

<p><em>This study aimed to examine the effect of Anti-Bribery Disclosure on Financial Performance and</em><em> also</em><em> to examine the role of the Women </em><em>Board</em><em> on Anti-Bribery Disclosure and Financial Performance where the Women</em><em> Board</em><em> </em><em>i</em><em>s a moderating variable. This research </em><em>was</em><em> a quantitative research using 101 observation units from Mining Sector Companies listed on the Indonesia Stock Exchange during 2017-2019. This study use</em><em>d </em><em>regression analysis techniques that </em><em>were</em><em> processed using the STATA </em><em>version 14 </em><em>application. The results showed that the Anti-Bribery Disclosure had no significant effect on financial performance as measured by ROA. The results also show</em><em>ed</em><em> that the Women</em><em> Board </em><em>does not significantly moderate the relationship between Anti-Bribery Disclosure and Financial Performance. This research contributes to an increase in the assessment of company management that focuses on the gender of the company board and its role in achieving integrity and transparency of corporate activities in order to improve corporate sustainability.</em><em></em></p>

Pekanbaru City, as a city that has a high business climate, also has a fairly good MSME business development. However, the Covid-19 pandemic that has plagued the last few months has had a negative impact on the economy, including the Micro, Small and Medium Enterprise (MSME) sector. Therefore, MSME needs to regulate its financial and marketing strategies by taking advantage of the digital-based EMKM product marketing and financial reporting system so that MSME's business can continue during this corona pandemic. The implementation of service activities is carried out by providing direct counseling and conducting questions and answers as well as discussions with MSME actors regarding the Socialization of Financial Reporting and MSME Product Marketing through Social Media and Marketplace. After providing counseling on MSME financial reporting and digital-based marketing, the people of Kota Tinggi Pekanbaru District have knowledge and can apply SAK EMKM-based bookkeeping and digital product marketing.

This study aims to analyze the developing trend of anti-bribery disclosure among mining companies listed on the Indonesia Stock Exchange. The sample data of research is an 81 -observation firm-year period during 2017–2019. The results of the study revealed that there is increasing information about anti-bribery disclosure from year to year. The most frequently disclosed information relates to corporate whistle-blowing system policies. The results indicated that the size of the board of directors, whether the entity is a state-owned company, and the type of auditor employed by the firm are positively significant influences on a corporation’s anti-bribery disclosure. Meanwhile, profitability has a negatively significant influence on anti-bribery disclosure, and there appears to be no effect at all from either firm size or firm leverage on a company’s anti-bribery disclosure. The authors recommended that regulators consider more anti-bribery activity and require disclosure of a company’s policies as evidence of its commitment to stakeholders and to demonstrate transparency, policies, and efforts to eradicate corruption and comply with ethical standards. This proposal can be supported by governmental regulations and ISO 37001 standards to permit companies to relatively easily implement an anti-bribery management system that would be highly useful to counter the risks of corruption cases.