PENGARUH ENVIRONMENTAL, SOCIAL, AND GOVERNANCE (ESG) SCORE, FAKTOR STABILITAS RASIO KEUANGAN, DAN ISLAMIC CORPORATE GOVERNANCE (ICG) TERHADAP KEPUTUSAN INVESTASI PADA PERBANKAN WILAYAH ASEAN

Eko, Sanjaya (2026) PENGARUH ENVIRONMENTAL, SOCIAL, AND GOVERNANCE (ESG) SCORE, FAKTOR STABILITAS RASIO KEUANGAN, DAN ISLAMIC CORPORATE GOVERNANCE (ICG) TERHADAP KEPUTUSAN INVESTASI PADA PERBANKAN WILAYAH ASEAN. Diploma thesis, UIN Raden Intan Lampung.

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Abstract

ABSTRAK Perkembangan perbankan syariah di kawasan ASEAN menunjukkan dinamika yang signifikan di tengah ketidakpastian ekonomi global, meningkatnya perhatian terhadap keberlanjutan, serta tuntutan penerapan tata kelola berbasis syariah. Kondisi tersebut mendorong investor untuk semakin selektif dalam mengambil keputusan investasi dengan mempertimbangkan faktor keuangan maupun non-keuangan. Penelitian ini bertujuan untuk menguji secara empiris pengaruh Environmental, Social, and Governance (ESG) Score, Rasio Profitabilitas (NPM), Rasio Likuiditas (FDR), Rasio Solvabilitas (DAR), dan Islamic Corporate Governance (ICG) secara parsial dan simultan terhadap Keputusan Investasi pada perbankan syariah di wilayah ASEAN. Penelitian ini dilakukan selama periode 2020-2024. Populasi dalam penelitian ini adalah seluruh Bank Umum Syariah di wilayah ASEAN, dan teknik pengambilan sampel menggunakan purposive sampling. Alat analisis data yang digunakan adalah Regresi Data Panel (Panel Least Squares) dengan perangkat lunak Eviews 13. Jumlah sampel yang diperoleh adalah 50. Hasil uji parsial menunjukkan bahwa hanya Rasio Likuiditas dan Rasio Solvabilitas yang berpengaruh positif dan signifikan terhadap Keputusan Investasi. Temuan ini mengindikasikan bahwa kemampuan bank syariah dalam menjaga likuiditas dan solvabilitas merupakan faktor dominan yang dipertimbangkan investor. Sebaliknya, ESG Score, Rasio Profitabilitas, dan Islamic Corporate Governance (ICG) ditemukan tidak berpengaruh signifikan terhadap Keputusan Investasi. Hal ini menyiratkan bahwa aspek keberlanjutan dan tingkat kepatuhan syariah (ICG) belum menjadi faktor penentu utama keputusan investasi di perbankan syariah wilayah ASEAN. Namun secara simultan variabel ESG Score, Profitabilitas, Likuiditas, Solvabilitas, dan Islamic Corporate Governance, berpengaruh signifikan terhadap Keputusan Investasi pada perbankan syariah di wilayah ASEAN. Kata Kunci: Environmental, Social, and Governance (ESG) Score, Profitabilitas, Likuiditas, Solvabilitas, Islamic Corporate Governance (ICG), Keputusan Investasi. ABSTRACT The development of Islamic banking in the ASEAN region has shown significant dynamics amid global economic uncertainty, increasing attention to sustainability, and growing demands for the implementation of Sharia-based governance. These conditions encourage investors to become more selective in making investment decisions by considering both financial and non-financial factors. This study aims to empirically examine the partial influence of the Environmental, Social, and Governance (ESG) Score, Profitability Ratio (NPM), Liquidity Ratio (FDR), Solvency Ratio (DAR), and Islamic Corporate Governance (ICG) on Investment Decisions in Islamic banking within the ASEAN region. The research was conducted for the period 2020-2024. The population of this study consisted of all Islamic Commercial Banks in the ASEAN region, and the sampling technique used was purposive sampling. The data analysis tool employed was Panel Data Regression (Panel Least Squares) using Eviews software. The final sample obtained was 50. The partial test results indicate that only the Liquidity Ratio and the Solvency Ratio have a positive and significant effect on Investment Decisions. This finding confirms that a bank's ability to maintain its liquidity and solvency is the dominant factor considered by investors. Conversely, the ESG Score, Profitability Ratio, and Islamic Corporate Governance (ICG) were found to have no significant effect on Investment Decisions. This implies that the aspects of ESG sustainability and the level of Sharia compliance (ICG) have not yet become the primary determinants for investment decisions in the ASEAN Islamic banking sector. However, the variables of ESG Score, profitability, liquidity, solvency, and Islamic corporate governance simultaneously have a significant effect on investment decisions in Sharia banks within the ASEAN region. Keywords: Environmental, Social, and Governance (ESG) Score, Profitability, Liquidity, Solvency, Islamic Corporate Governance (ICG), Investment Decisions.

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