ESG Disclosure dan Nilai Perusahaan: Peran Moderasi Ukuran Perusahaan Sub Sektor Pertambangan
DOI:
https://doi.org/10.61132/jpbi.v4i4.1813Keywords:
ESG Disclosure, Firm Size, Firm Value, Mining Companies, SustainabilityAbstract
This study aims to analyze the effect of Environmental, Social, and Governance (ESG) disclosure on firm value and examine the moderating role of firm size in strengthening or weakening this relationship among mining subsector companies listed on the Indonesia Stock Exchange (IDX) during the 2020–2024 period. This study employs a quantitative approach using panel data regression analysis to examine the relationships among the variables. The research population consists of 63 mining companies, while the sample comprises 12 companies selected through purposive sampling based on predetermined research criteria. Data were collected from annual reports, sustainability reports, financial statements, and ESG data obtained from Bloomberg. These sources provide relevant information regarding ESG disclosure, firm value, and firm size throughout the observation period. The findings indicate that ESG disclosure has a positive effect on firm value, suggesting that greater ESG transparency is associated with higher company valuations. However, firm size is found to weaken the positive effect of ESG disclosure on firm value. Therefore, firm size represents an important moderating factor in understanding the relationship between ESG disclosure and firm value. This study highlights the importance of ESG information as a consideration for investors when evaluating corporate prospects, accountability, and long-term sustainability within the mining subsector.
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