Pengaruh ESG terhadap Nilai Perusahaan dengan Profitabilitas sebagai Variabel Moderasi pada Perusahaan Subsektor Batubara

Vivi Febrianti; Nina Febriana Dosinta; Helisa Noviarty

doi:10.61132/anggaran.v4i3.2571

Authors

Vivi Febrianti Universitas Tanjungpura
Nina Febriana Dosinta Universitas Tanjungpura
Helisa Noviarty Universitas Tanjungpura

DOI:

https://doi.org/10.61132/anggaran.v4i3.2571

Keywords:

Coal Subsector, ESG, Firm Value, Profitability, Tobin’s Q

Abstract

This research looks at how Environmental, Social, and Governance (ESG) factors affect the value of companies in the coal industry that are listed on the Indonesia Stock Exchange, and it considers profitability as a factor that can influence this relationship during the years 2021 to 2025. This study is driven by the growing interest from investors in how companies handle sustainability, especially because Environmental problems and climate change are strongly connected to the coal industry. This study uses a quantitative method and selects participants based on specific purposes. The sample includes companies that release sustainability reports and annual reports, offer full information on ESG, Return on Assets (ROA), and Tobin’s Q, and report their financial data in USD. Data were analyzed using Moderated Regression Analysis. The findings show that ESG has a positive impact on the value of a company, and profitability can influence how strong this relationship is between ESG and the company's value. These results suggest that when companies follow ESG practices, investors are more likely to trust them, and the company's value tends to grow over time.

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