Pengaruh Environmental, Social, Governance(ESG) Dan Firm Size Terhadap Kinerja Keuangan Dan Nilai Perusahaan
DOI:
https://doi.org/10.31102/equilibrium.13.02.114-131Keywords:
Environmental, Social, and Governance (ESG), kinerja keuangan, nilai perusahaan, Return on Assets (ROA), Return on Equity (ROE), Price to Book Value (PBV), Tobin’s Q, sektor energiAbstract
Environmental, Social, and Governance (ESG) is a framework that encourages companies to operate responsibly by considering environmental, social, and governance aspects. ESG is increasingly important as an indicator of sustainability and long-term performance, particularly in the high-risk energy sector. The study employs a quantitative approach using Structural Equation Modeling–Partial Least Squares (SEM-PLS), which allows simultaneous analysis of direct and indirect effects, including the mediating role of financial performance. The study uses a quantitative approach with a panel data regression method on energy sector companies listed on the Indonesia Stock Exchange for the 2022–2024 period. The sample was selected purposively based on the availability of ESG reports. The results show that ESG has a positive and significant effect on financial performance and firm value, supporting the legitimacy theory that adherence to social values improves corporate sustainability.
