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Abstract

This study aims to examine the effect the financial performance of banks in six ASEAN countries (Indonesia, Malaysia, Singapore, Thailand, the Philippines, and Vietnam) during the period 2020–2023. The Environmental Score measures a company's environmental performance through three main sub-pillars: Emissions, Resource Use, and Innovation. Panel data from 31 banks were analysed using panel regression with robust standard errors, and endogeneity was tested using Two-Stage Least Squares (2SLS). The results show that the Environmental Score has a positive and significant effect on ROA, ROE, Tobin’s Q, and Market Capitalization, but no significant effect on NIM. The Resource Use Score sub-pillar is only significantly associated with Tobin’s Q and Market Capitalization, while the Emissions Score sub-pillar shows no significant effect on any indicators. Meanwhile, the Innovation Score sub-pillar has a significant effect on ROA, ROE, Tobin’s Q, and Market Capitalization but not on NIM.

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Bahasa Abstract

Penelitian ini bertujuan mengkaji pengaruh Environmental Score terhadap kinerja keuangan bank di enam negara ASEAN (Indonesia, Malaysia, Singapura, Thailand, Filipina, dan Vietnam) selama periode 2020–2023. Environmental Score mengukur kinerja lingkungan perusahaan melalui tiga sub-pilar utama: Emissions, Resource Use, dan Innovation. Data panel dari 31 bank dianalisis menggunakan regresi data panel dengan robust standard errors dan diuji endogenitasnya melalui Two-Stage Least Squares (2SLS). Hasil penelitian menunjukkan bahwa Environmental Score berpengaruh positif dan signifikan terhadap indikator ROA, ROE, Tobin’s Q, dan Market Capitalization, tetapi tidak berpengaruh signifikan terhadap NIM. Sub-pilar Resource Use Score hanya berpengaruh signifikan terhadap Tobin’s Q dan Market Capitalization, sedangkan sub-pilar Emissions Score tidak menunjukkan pengaruh signifikan pada semua indikator. Sementara itu, sub-pilar Innovation Score berpengaruh signifikan terhadap ROA, ROE, Tobin’s Q, dan Market Capitalization, tetapi tidak terhadap NIM. 

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