Peran Mediasi Kinerja Keuangan dalam ESG dan Hubungan Nilai

Bela Nabila, Titi Dewi Warninda

Abstract


This research aims to examine the influence of ESG performance on firm value, with financial performance as a mediating variable. In this study, the independent variable used is ESG performance, the dependent variable used is firm value proxied by Tobins`q, and the mediating variable used is financial performance wich a profitability ratios (ROA and ROE). This research employed a sample of 49 companies included in the IDX ESG Leaders Index during the 2020-2023 period. This study employed panel data regression analysis to examine the connection between variables and the mediating effect and Sobel test to strengthen the mediating effect assess the mediating variable. The findings obtained from this study are ESG performance has no effects on firm value, ESG performance has no effects on ROA, ROA affects firm value, ESG performance has no effects on ROE, ROE affects firm value, and financial performance cannot mediate the correlation between ESG performance and firm value.


Keywords


ESG Performance; Financial Performance; Firm Value

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References


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DOI: https://doi.org/10.15408/jmeb.v1i1.48147

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