Pengaruh Audit Delay dan Sustainability Reporting Terhadap Harga Saham di Perusahaan Sektor Energi yang Terdaftar di Bursa Efek Indonesia Tahun 2021-2024

Abstract

This study aims to analyze the influence of audit delay and sustainability reporting on the stock prices of energy sector companies listed on the Indonesia Stock Exchange during the 2021–2024 period, examining both partial and simultaneous effects. A quantitative approach with an explanatory design was employed, utilizing secondary data obtained from annual reports, audited financial statements, sustainability reports, and stock price data. The sample was selected using a purposive sampling technique based on established criteria, resulting in a sample of 39 companies and a total of 156 observations over the four-year period. Data analysis utilized panel data multiple linear regression, encompassing descriptive statistics, panel data regression model selection, classical assumption testing, and hypothesis testing. The results indicate that audit delay does not have a significant effect on stock prices. Sustainability reporting, however, significantly affects stock prices, albeit with a negative regression coefficient. Meanwhile, audit delay and sustainability reporting do not have a significant simultaneous effect on stock prices. These findings suggest that investors in the energy sector do not yet prioritize audit delay when making investment decisions, whereas sustainability information has garnered market attention, even if the market response has not always been positive. Stock price movements in the energy sector during the study period appear to have been driven primarily by company fundamentals, energy commodity prices, macroeconomic conditions, and market sentiment.