Peran Environmental, Social, dan Governance dalam Memediasi Hubungan antara Profitabilitas, Ukuran Perusahaan, dan Komite Audit terhadap Nilai Perusahaan pada Sektor Industri Consumer Non-Cyclicals yang Terdaftar di Bursa Efek Indonesia (BEI)
DOI:
https://doi.org/10.37385/ceej.v7i3.10372Keywords:
ESG, Komite Audit, Profitabilitas, Ukuran Perusahaan, Nilai PerusahaanAbstract
Penelitian ini bertujuan untuk menganalisis peran Environmental, Social, dan Governance (ESG) dalam memediasi hubungan antara Profitabilitas, Ukuran Perusahaan, dan Komite Audit terhadap Nilai Perusahaan pada sektor industri Consumer Non-Cyclicals yang terdaftar di Bursa Efek Indonesia (BEI) periode 2021–2023. Penelitian ini menggunakan pendekatan kuantitatif dengan metode kausal-komparatif (explanatory research) dan data sekunder yang diperoleh dari laporan keuangan serta laporan ESG perusahaan. Analisis data dilakukan menggunakan regresi data panel dan uji mediasi terhadap 42 perusahaan dengan total 126 unit observasi. Hasil penelitian menunjukkan bahwa Profitabilitas, Ukuran Perusahaan, dan Komite Audit berpengaruh positif signifikan terhadap Nilai Perusahaan, sementara hanya Komite Audit yang berpengaruh signifikan terhadap ESG. ESG terbukti berpengaruh positif langsung terhadap Nilai Perusahaan, namun tidak mampu memediasi hubungan antara Profitabilitas, Ukuran Perusahaan, dan Komite Audit dengan Nilai Perusahaan. Selain itu, Profitabilitas dan Ukuran Perusahaan tidak berpengaruh signifikan terhadap ESG, mengindikasikan bahwa tingkat laba dan skala perusahaan tidak secara otomatis mendorong penerapan ESG di sektor consumer non-cyclicals. Temuan ini menunjukkan bahwa pasar masih lebih responsif terhadap indikator finansial dibandingkan praktik keberlanjutan, serta menegaskan pentingnya peran tata kelola perusahaan dalam mendorong implementasi ESG.
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