Pengaruh Environmental, Social, Governance (ESG) Disclosure, Profitabilitas, dan Leverage terhadap Nilai Perusahaan Perbankan di Indonesia
Keywords:
ESG Disclosure, ROA, DERAbstract
Penelitian ini bertujuan untuk menganalisis pengaruh Environmental, Social, and Governance (ESG) Disclosure, Return on Assets (ROA), dan Debt to Equity Ratio (DER) terhadap nilai perusahaan yang diproksikan dengan Price to Book Value (PBV) pada perusahaan perbankan yang terdaftar di Bursa Efek Indonesia periode 2020–2024. Penelitian ini menggunakan pendekatan kuantitatif dengan data sekunder yang diperoleh dari laporan tahunan dan laporan keberlanjutan perusahaan. Sampel penelitian terdiri atas 45 perusahaan dengan total 225 observasi selama periode pengamatan. Analisis data dilakukan menggunakan regresi data panel dengan Fixed Effect Model (FEM) dan estimasi cross-section weights. Hasil penelitian menunjukkan bahwa ESG Disclosure berpengaruh negatif dan signifikan terhadap nilai perusahaan. ROA berpengaruh negatif dan signifikan terhadap nilai perusahaan, sedangkan DER berpengaruh positif dan signifikan terhadap nilai perusahaan. Hasil uji simultan menunjukkan bahwa ESG Disclosure, ROA, dan DER secara bersama-sama berpengaruh signifikan terhadap nilai perusahaan. Nilai R-squared sebesar 0,7651 menunjukkan bahwa 76,51% variasi nilai perusahaan dapat dijelaskan oleh variabel dalam model penelitian, sedangkan 23,49% sisanya dijelaskan oleh faktor lain di luar model.
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