PENGARUH SKOR ENVIRONMENTAL, SOCIAL, DAN GOVERNANCE TERHADAP NILAI PERUSAHAAN: STUDI EMPIRIS PADA PERUSAHAAN NON KEUANGAN YANG TERDAFTAR DI BURSA EFEK INDONESIA
DOI:
https://doi.org/10.35446/akuntansikompetif.v9i2.2787Abstract
Penelitian ini menganalisis pengaruh Environmental, Social, dan Governance (ESG) Pillar Score terhadap nilai perusahaan pada perusahaan non keuangan yang terdaftar di Bursa Efek Indonesia (BEI). Penelitian menggunakan pendekatan kuantitatif deduktif dengan data panel sekunder dari Refinitive, mencakup 68 perusahaan selama periode 2022–2024 (204 observasi). Nilai perusahaan diproksikan dengan Price to Book Value (PBV), sedangkan kinerja ESG diukur menggunakan Environmental, Social, dan Governance Score yang dinilai oleh Refinitiv. Analisis dilakukan dengan regresi data panel Fixed Effects dan cluster‑robust standard errors pada tingkat perusahaan. Hasil penelitian menunjukkan bahwa model signifikan secara simultan, namun secara parsial Environmental, Social, dan Governance Pillar Score tidak berpengaruh signifikan terhadap nilai perusahaan pada tingkat signifikansi 5%. Temuan ini mengindikasikan bahwa dampak ESG terhadap nilai perusahaan di Indonesia cenderung bersifat jangka panjang dan belum sepenuhnya tercermin dalam penilaian pasar jangka pendek
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