Hubungan Kinerja ESG dengan Harga Saham melalui Firm Value dan Ukuran Perusahaan: Bukti Empiris pada Perusahaan Sektor Energi dan Basic Materials di Indonesia

Bagas Salman Sabian, Liana Mangifera

Abstract


Penelitian ini bertujuan menganalisis pengaruh Kinerja Environmental, Social, and Governance (ESG) dan Firm Value terhadap Harga Saham dengan Ukuran Perusahaan sebagai variabel mediasi pada perusahaan sektor Energi dan Basic Materials yang terdaftar di Bursa Efek Indonesia periode 2022–2024. Penelitian ini menggunakan pendekatan kuantitatif dengan metode asosiatif. Sampel dipilih melalui teknik purposive sampling dan diperoleh 57 perusahaan dengan 171 observasi. Data penelitian berupa data sekunder berbentuk data panel yang diperoleh dari laporan keuangan, laporan tahunan, dan laporan keberlanjutan perusahaan. Analisis data dilakukan menggunakan metode Partial Least Squares–Structural Equation Modeling (PLS-SEM) dengan bantuan SmartPLS versi 4. Hasil penelitian menunjukkan bahwa Kinerja ESG tidak berpengaruh terhadap Harga Saham, tetapi berpengaruh positif terhadap Ukuran Perusahaan. Firm Value berpengaruh positif terhadap Harga Saham, namun tidak terhadap Ukuran Perusahaan. Ukuran Perusahaan berpengaruh positif terhadap Harga Saham dan mampu memediasi pengaruh Kinerja ESG, tetapi tidak memediasi pengaruh Firm Value terhadap Harga Saham.

Keywords


ESG; Harga Saham; Firm Value; Ukuran Perusahaan; Basic Materials

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References


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DOI: https://doi.org/10.17509/ijdb.v6i1.104067

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