Muhammad Padhillah Phasa, . (2026) PENGARUH ESG DISCLOSURE DAN KEPEMILIKAN INSTITUSIONAL TERHADAP NILAI PERUSAHAAN DENGAN PROFITABILITAS SEBAGAI VARIABEL MODERASI. Skripsi thesis, Universitas Pembangunan Nasional Veteran Jakarta.
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Abstract
This research examines how ESG Disclosure and Institutional Ownership affect Firm Value, with Profitability tested as a moderating factor, focusing on energy sector firms listed on the Indonesia Stock Exchange (IDX) during 2022–2025. A quantitative method was applied using secondary data drawn from corporate annual reports and sustainability reports. Through purposive sampling, the final dataset consisted of 21 firms, producing 84 firm-year observations. The GRI Standards 2021 disclosure index was used to measure ESG Disclosure, while Institutional Ownership was represented by the proportion of shares held by institutional investors. Firm Value was captured through Tobin's Q, and Profitability was proxied by Return on Assets (ROA). Panel data regression was conducted using the Fixed Effect Model (FEM) with robust standard errors, a choice confirmed by the Chow and Hausman test results. Diagnostic testing revealed that the multicollinearity assumption was satisfied, though the residuals departed from a normal distribution a limitation that does not undermine the findings given the reliance on robust standard errors. Since FEM was the selected specification, both heteroscedasticity and autocorrelation had to be examined: heteroscedasticity was present and corrected through robust standard errors, whereas no autocorrelation issue emerged. The analysis reveals that ESG Disclosure exerts a negative and statistically significant influence on Firm Value—a direction opposite to what was hypothesized while Institutional Ownership shows a negative but statistically insignificant influence on Firm Value. In addition, Profitability fails to moderate either the ESG Disclosure Firm Value relationship or the Institutional Ownership–Firm Value relationship.
| Item Type: | Thesis (Skripsi) |
|---|---|
| Additional Information: | [No Panggil: 2210112222] [Pembimbing: Amdi Very Dharma] [Ketua Penguji: Amrie Firmansyah] [Penguji 1: Dewi Darmastuti] |
| Uncontrolled Keywords: | ESG Disclosure, Institutional Ownership, Firm Value, Profitability |
| Subjects: | H Social Sciences > HF Commerce > HF5601 Accounting |
| Divisions: | Fakultas Ekonomi dan Bisnis > Program Studi Akuntansi (S1) |
| Depositing User: | MUHAMMAD PADHILLAH PHASA |
| Date Deposited: | 07 Sep 2026 01:15 |
| Last Modified: | 07 Sep 2026 01:15 |
| URI: | http://repository.upnvj.ac.id/id/eprint/51348 |
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