Pengaruh Environmental, Social, and Governance (ESG) Terhadap Nilai Perusahaan pada Perusahaan yang Terkait dan yang Tidak Terkait Industri Hijau

Elly Lutfiana, Nur Diana, Erfan Efendi

Abstract


This study analyzes the effect of ESG Disclosure on firm value and compares its impact between companies which are related and not related to the green industry. This study uses secondary data from annual reports of companies listed in the IDXINDUST Index for the 2021–2023 period. The analysis method applied is multiple linear regression using software IBM SPSS Statistics 27. The results show that ESG Disclosure significantly affects firm value, with a more dominant impact on companies related to the green industry. Environmental disclosure has a significant positive effect on green industry companies, while in non-green industry companies, it has a significant negative effect. However, social and governance variables do not significantly influence firm value in either green or non-green industry companies. These findings indicate that transparency and compliance with environmental practices enhance investor confidence in green industry companies, whereas in non-green industries, ESG compliance costs may be perceived as a financial burden that reduces firm value. The implications of this study provide insights for companies to improve ESG transparency and for investors to consider sustainability factors in investment decision-making.

Keywords: Environmental, social, governance, firm value


Full Text:

PDF

References


Badjuri, A., Jaeni, J., & Kartika, A. (2021). Peran Corporate Social Responsibility Sebagai Pemoderasi Dalam Memprediksi Profitabilitas Dan Ukuran Perusahaan Terhadap Agresivitas Pajak Di Indonesia: Kajian Teori Legitimasi. Jurnal Bisnis Dan Ekonomi, 28(1), 1–16. Https://Doi.Org/Https://Doi.Org/10.35315/Jbe.V28i1.8534

Dhani, I. P., & Utama, A. . G. S. (2017). Pengaruh Pertumbuhan Perusahaan, Struktur Modal, Dan Profitabilitas Terhadap Nilai Perusahaan. Jurnal Riset Akuntansi Dan Bisnis. Https://E-Journal.Unair.Ac.Id/Jraba/Article/Download/46013/24867

Global Carbon Atlas. (2024). Carbon Emissions. Https://Globalcarbonatlas.Org/Emissions/Carbon-Emissions/

Hutahuruk, M., Sudarno, S., Andi, A., Suhardjo, S., & Kudri, M. W. (2023). Etika Bisnis, Kenggulan Bersaing Hijau, Dan Kepemimpinan Lingkungan Terhadap Kinerja Bisnis Berkelanjutan. Procuratio : Jurnal Ilmiah Manajemen, 11(4), 412–423. Https://Doi.Org/10.35145/Procuratio.V11i4.4140

Kaplale, Y. S., Murni , Y., & Ani, S. M. (2023). Pengaruh Environmental Disclosure, Social Disclosure Dan Mekanisme Governance Terhadap Nilai Perusahaan (Studi Empiris Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia Tahun 2018-2020). Jurnal Ilmiah Akuntansi Pancasila (JIAP), 3(2), 163–167. Https://Doi.Org/Https://Doi.Org/10.35814/Jiap.V3i2.4033

Mudzakir, F. U., & Pangestuti, I. R. D. (2023). Pengaruh Environmenyal, Social, And Governance Disclosureterhadap Nilai Perusahaan Dengan ROA Dan DER Sebagai Variabel Kontrol (Studi Pada Perusahaan Listing Di BEI Periode 2017-2021). Diponegoro Journal Of Accounting, 12(5).

Nasution, M. I. S., Yulia, I. A., & Fitrianti, D. (2024). Pengaruh Pengungkapan Enviromental, Social Dan Governance (ESG) Terhadap Nilai Perusahaan (Studi Kasus Pada Perusahaan Perbankan Yang Terdaftar Di BEI Tahun 2023). Jurnal EMT KITA, 8(4), 1255–1264. Https://Doi.Org/10.35870/Emt.V8i4.2939

Putra, M. F. W. D., & Asfiah, N. (2024). Penerapan Environmental, Social, Dan Governance (ESG) Pada Program Insfrastruktur Di Indonesia: Menuju Sustainable Business. Jurnal Manuhara: Pusat Penelitian Ilmu Manajemen Dan Bisnis, 3(2). Https://Doi.Org/Ttps://Doi.Org/10.61132/Manuhara.V2i3.943

Siskawati, E. (2021). Compromising Strategy And Legitimacy Gap In Environmental Performance Reporting: A Case Study At The Rajawali Company. Rafgo, 1(1), 23–28.

Sugiarto, A., Puspani, N. N., & Fathia, F. (2023). ESG Leverage Towards Stock Performance In Indonesia Stock Exchange. International Journal Of Energy Economics And Policy, 13(5), 593–606. Https://Doi.Org/10.32479/Ijeep.14384

Twincond, J. (2023). Pengaruh Pertumbuhan Perusahaan, Solvabilitas, Dan Perencanaan Pajak Terhadap Nilai Perusahaan (Studi Empiris Pada Perusahaan Manufaktur Sub Sektor Makanan Dan Minuman Yang Terdaftar Di Bursa Efek Indonesia Tahun 2017-2021). GLOBAL ACCOUNTING :JURNAL AKUNTANSI, 2(2). Https://Jurnal.Ubd.Ac.Id/Index.Php/Ga/Article/View/2451


Refbacks

  • There are currently no refbacks.


e_Jurnal Ilmiah Riset Akuntansi is indexed by:

e_Jurnal Ilmiah Riset Akuntansi is licensed under a Creative Commons Attribution 4.0 International License