Pengaruh Skor Environmental, Social, Governance (ESG) terhadap Nilai dan Profitabilitas Perusahaan di Indonesia
DOI:
https://doi.org/10.25047/asersi.v6i1.6858Keywords:
ESG, Firm value, ProfitabilityAbstract
This study aims to analyze the contribution of environmental, social, and governance (ESG) on firm performance. This quantitative research used companies listed on the IDX (Indonesia Stock Exchange) from 2019 to 2023 as subjects. The research sample consists of 223 companies determined using a purposive sampling method. ESG performance is proxied using the ESG score, while firm performance is measured using Tobin's Q as an indicator of firm value and Return on Assets (ROA) as an indicator of profitability. The hypothesis testing method used is multiple linear regression. The results show that ESG performance contributes positively on firm value and profitability. Environmental aspects do not show a positive influence on firm value, but contributes positively on profitability. Social aspects are proven to have a significant negative effect on company value and profitability. Governance aspects show a significant negative contribution on firm value, but an insignificant positive contribution on profitability.
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