Denny Maulana Subagio, . (2025) PENGARUH PENGUNGKAPAN ESG DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN: STUDI PERBANDINGAN PERUSAHAAN ESG LEADERS DI NEGARA BERKEMBANG DAN NEGARA MAJU (INDONESIA DAN PRANCIS). Skripsi thesis, Universitas Pembangunan Nasional Veteran Jakarta.
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Abstract
This study examines whether Environmental, Social, and Governance (ESG) disclosure and profitability affect firm value, and whether these effects differ between an emerging market (Indonesia) and a developed market (France). The sample consists of 83 ESG leaders listed in Indonesia and France with Refinitiv ESG Combined Scores, observed over 2022–2024 (249 firm-year observations). Firm value is proxied by Tobin’s Q, while profitability is measured by return on assets (ROA); firm size, stock return, and Leverage are included as control variables. The data are analysed using panel data regression with a fixed-effect model and clustered robust standard errors. The results show that ESG disclosure and profitability do not have a statistically significant effect on firm value, and that there is no significant difference in their impact between Indonesian and French firms. In contrast, stock return has a positive and significant effect on firm value, indicating that, in the short run, market-based performance is more strongly priced by investors than ESG disclosure or accounting profitability in the ESG leaders sample. Keywords: ESG disclosure; profitability; firm value; Tobin’s Q; stock return; Indonesia; France.
| Item Type: | Thesis (Skripsi) |
|---|---|
| Additional Information: | [No.Panggil: 2210112175] [Pembimbing: Dianwicaksih Arieftiara] [Penguji 1: Erna Hernawati] [Penguji 2: Amdi Very Dharma] |
| Uncontrolled Keywords: | ESG disclosure; profitability; firm value; Tobin’s Q; stock return; Indonesia; France. |
| Subjects: | H Social Sciences > HB Economic Theory H Social Sciences > HF Commerce > HF5601 Accounting H Social Sciences > HG Finance |
| Divisions: | Fakultas Ekonomi dan Bisnis > Program Studi Akuntansi (S1) |
| Depositing User: | DENNY MAULANA SUBAGIO |
| Date Deposited: | 01 Apr 2026 03:02 |
| Last Modified: | 01 Apr 2026 03:02 |
| URI: | http://repository.upnvj.ac.id/id/eprint/41353 |
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