PENGARUH LAPORAN KEBERLANJUTAN (SUSTAINABILITY REPORT) TERHADAP NILAI PERUSAHAAN (Studi pada Perusahaan Terdaftar dalam Bursa Efek Indonesia (IHSG) periode Tahun 2018 – 2022)

Abstract

ABSTRACT There is plethora of research published on the theme of sustainability reporting and its impact on firm value, whether it is in developed or developing countries. Nonetheless, the findings are still inconclusive, since the results are often contradictory against one another. This study aims to determine the impact of sustainability reporting measured with the ESG (Environmental, Social, Governance) Score as the proxy), on firm value (with PBV as the proxy) of Indonesia listed corporations. The author also does incorporate Financial Leverage, Assets Turnover, and Return On Assets as control variables. The research object involves all companies listed on the Indonesia Stock Exchange (IDX) from 2018 to 2022. This quantitative research utilizes data sourced from annual reports and Bloomberg data, with purposive sampling as the sample selection technique, resulting in 62 companies as the sample. The data analysis technique used is panel data regression analysis with the Fixed Effect Model (FEM) estimation, tested using Eviews v.10. The results show that sustainability reporting has a significant positive effect on firm value. Meanwhile, Financial Leverage and Assets Turnover are shown to be capable of controlling the magnitude of firm value. Conversely, Return On Assets does not perform correspondingly as a control variable.