Pengaruh Pengungkapan Environmental, Social, and Governance (ESG) dan Struktur Modal terhadap Nilai Perusahaan Dimoderasi Strategi Bisnis

Setyarini, Arum Indah (2026) Pengaruh Pengungkapan Environmental, Social, and Governance (ESG) dan Struktur Modal terhadap Nilai Perusahaan Dimoderasi Strategi Bisnis. Undergraduate thesis, UPN Veteran Jawa Timur.

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Abstract

Corporate value is one of the indicators that reflects investors’ assessment of a company’s condition and prospects. This study aims to examine the effects of environmental, social, and governance (ESG) disclosures and capital structure on corporate value, as well as to examine the moderating role of business strategy in these relationships among energy sector companies listed on the Indonesia Stock Exchange. This study employs a quantitative approach using secondary data in the form of annual reports and sustainability reports. The sampling technique used is purposive sampling, resulting in a sample of 48 companies with a total of 192 observations over the 2021–2024 period. Data analysis was conducted using panel data regression and Moderated Regression Analysis (MRA) with the assistance of EViews 13 software. The results indicate that ESG disclosure has a negative effect on firm value, while capital structure has a positive effect on firm value. Furthermore, business strategy moderates the effect of ESG disclosure on firm value and moderates the effect of capital structure on firm value. The findings of this study are expected to provide insights for companies in integrating ESG practices, capital structure management, and business strategies as part of efforts to enhance firm value. Keywords: Firm Value, ESG Disclosure, Capital Structure, Business Strategy.

Item Type:

Thesis (Undergraduate)

Contributors: