Pengaruh Environmental, Social, Governance (ESG) Disclosure dan Green Innovation terhadap Nilai Perusahaan dengan Board Gender Diversity sebagai Moderasi
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Abstract
Meningkatnya tekanan pemangku kepentingan mendorong perusahaan mengintegrasikan pengungkapan Environmental, Social, and Governance (ESG) dan green innovation dalam strategi keberlanjutan. Penelitian ini bertujuan menganalisis pengaruh ESG disclosure dan green innovation terhadap nilai perusahaan dengan board gender diversity sebagai variabel moderasi pada perusahaan manufaktur yang terdaftar di Indonesia Stock Exchange periode 2021–2024. Penelitian menggunakan pendekatan kuantitatif dengan sampel 52 perusahaan yang dipilih melalui purposive sampling. Analisis data dilakukan menggunakan regresi data panel dan Moderated Regression Analysis (MRA) dengan bantuan EViews. Hasil penelitian menunjukkan bahwa environmental disclosure berpengaruh positif terhadap nilai perusahaan, sedangkan social disclosure tidak berpengaruh signifikan. Sebaliknya, governance disclosure dan green innovation berpengaruh negatif terhadap nilai perusahaan. Board gender diversity memperkuat pengaruh environmental disclosure, memoderasi negatif governance disclosure, namun tidak memoderasi social disclosure dan green innovation. Temuan ini menegaskan pentingnya kualitas pengungkapan keberlanjutan dan tata kelola yang inklusif dalam meningkatkan nilai perusahaan.
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