Pengaruh Greenwashing terhadap Nilai Perusahaan yang Diukur Melalui Pengungkapan ESG pada Perusahaan Sektor Perbankan

Itsnaini, Rachmaputri Nur (2026) Pengaruh Greenwashing terhadap Nilai Perusahaan yang Diukur Melalui Pengungkapan ESG pada Perusahaan Sektor Perbankan. Undergraduate thesis, UPN Veteran Jawa Timur.

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Abstract

This study is motivated by the increasing prevalence of greenwashing practices in the banking sector amid the growing importance of Environmental, Social, and Governance (ESG) disclosure as a means of enhancing corporate transparency. The objective of this study is to examine the effect of greenwashing on firm value, with ESG disclosure serving as a moderating variable, among banking companies listed on the Indonesia Stock Exchange during the 2022–2024 period. This research employs a quantitative explanatory approach. The sample consists of 37 banking companies, resulting in 111 firm-year observations selected through purposive sampling. Data were analyzed using Partial Least Squares–Structural Equation Modeling (PLS-SEM). The findings reveal that greenwashing has a positive and significant effect on firm value. In contrast, greenwashing does not have a significant effect on ESG disclosure, ESG disclosure does not significantly influence firm value, and ESG disclosure is unable to moderate the relationship between greenwashing and firm value. These findings suggest that investors continue to respond more strongly to sustainability signals communicated by companies than to the actual quality of ESG implementation. Therefore, improving the quality, credibility, and transparency of ESG disclosure is essential to support informed investment decisions and foster sustainable firm value.

Item Type:

Thesis (Undergraduate)

Contributors: