PENGARUH HUBUNGAN ANTARA ESG DISCLOSURE DAN KOMISARIS INDEPENDEN TERHADAP COST OF CAPITAL YANG DI MODERASI OLEH AUDIT FEE

Ayu Dwi Astuti, . (2025) PENGARUH HUBUNGAN ANTARA ESG DISCLOSURE DAN KOMISARIS INDEPENDEN TERHADAP COST OF CAPITAL YANG DI MODERASI OLEH AUDIT FEE. Skripsi thesis, Universitas Pembangunan Nasional Veteran Jakarta.

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Abstract

This study examines fluctuations in the cost of capital among Indonesian manufacturing firms, which remain unstable despite increasing ESG disclosure. The study aims to analyze the influence of ESG disclosure and independent commissioners on the cost of capital, as well as assess the moderating role of audit fee within the context of corporate financing. A quantitative method with panel data regression was employed. Data on ESG disclosure, the proportion of independent commissioners, audit fee, firm age, leverage, and profitability were obtained from annual and sustainability reports of manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the 2022 - 2024 period. The analysis tested both direct and moderating effects on the cost of capital. The results indicate that ESG disclosure and the proportion of independent commissioners do not significantly affect the cost of capital. Additionally, audit fee does not moderate the relationship between ESG disclosure or independent commissioners and the cost of capital. Thus, all hypotheses were rejected, and governance mechanisms were found to be ineffective in reducing capital costs within the manufacturing sector.

Item Type: Thesis (Skripsi)
Additional Information: [No.Panggil: 2210112028] [Pembimbing: Ranti Nugraheni] [Penguji 1: Lidya Primta Surbakti] [Penguji 2: Dewi Darmastuti]
Uncontrolled Keywords: Cost of Capital, ESG Disclosure, Independent Commissioners, Audit fee, Corporate Governance
Subjects: H Social Sciences > HF Commerce > HF5601 Accounting
Divisions: Fakultas Ekonomi dan Bisnis > Program Studi Akuntansi (S1)
Depositing User: AYU DWI ASTUTI
Date Deposited: 30 Mar 2026 03:18
Last Modified: 30 Mar 2026 03:18
URI: http://repository.upnvj.ac.id/id/eprint/41358

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