PENGARUH GROWTH OPPORTUNITY DAN ESG DISCLOSURE TERHADAP EARNING RESPONSE COEFFICIENT

Earning Response Coefficient (ERC) reflects market responses to earnings information that vary across companies. This study examines the effects of Growth Opportunity and ESG Disclosure on ERC, with firm size and leverage as control variables, in post-pandemic manufacturing firms. Using a quantitative approach, 350 observations from 70 companies were analysed using multiple linear regression. The results show that Growth Opportunity has a significant negative effect on ERC, while ESG Disclosure, firm size, and leverage have no significant effect. Simultaneously, the variables do not significantly affect ERC. The adjusted R² of 1.1% indicates low explanatory power.