Tinjauan Literatur Tentang Peran Chief Executive Officer (CEO) dan Dewan Direksi Dalam Keputusan Investasi ESG Serta Dampaknya Pada Kinerja Perusahaan

Juanda Surya, Fitriani Prastiawati

Abstract


This study examines the role of CEOs and board composition in ESG-based investment decisions and their impact on firm performance through a systematic literature review (SLR) using PRISMA guidelines on 35 SCOPUS-indexed articles from 2013–2023. The results show that the majority of studies (61%) found a significant relationship between ESG investment and firm performance, although there is some inconsistency in the short-term perspective. CEO characteristics influence ESG commitment and implementation effectiveness, while board diversity supports transparency, accountability, and concern for sustainability issues. These findings confirm the relevance of Upper Echelons, Agency, and Stakeholder theories and provide input for policymakers, practitioners, and academics in formulating more optimal governance strategies and sustainability policies.


Keywords


CEO, Dewan Direksi, ESG, Kinerja Perusahanaan, Tata Kelola Perusahaan

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References


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DOI: https://doi.org/10.24167/jemap.v8i2.14227

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