Pengaruh ESG Risk Rating Terhadap Financial Performance, Firm’s Value, Dan Corporate Reputation (Studi pada Industri Sektor Energi yang Tercatat Di Bei Periode 2022-2023) 

The Influence of ESG Risk Rating on Financial Performance, Firm’s Value and Corporate Reputation (Study on the Energy Sector Industry listed on the IDX for the period 2022-2023) 

Penelitian ini bertujuan untuk menganalisis pengaruh Environmental, Social, and Governance (ESG) Risk Rating terhadap financial performance, firm’s value, dan corporate reputation pada perusahaan sektor energi yang tercatat di Bursa Efek Indonesia (BEI) periode 2022–2023. Penelitian ini menggunakan pendekatan kuantitatif dengan metode Structural Equation Modeling–Partial Least Squares (SEM-PLS) melalui perangkat lunak SmartPLS versi 3.7 (2018). Sampel terdiri dari 40 data perusahaan yang diperoleh berdasarkan indikator ESG Risk Rating, Return on Investment (ROI), Return on Equity (ROE), Price to Book Value (PBV), dan Tobin’s Q. Hasil penelitian menunjukkan bahwa ESG Risk Rating tidak berpengaruh terhadap financial performance. Namun, ESG Risk Rating berpengaruh negatif terhadap firm’s value dan corporate reputation. Temuan ini mengindikasikan bahwa semakin tinggi risiko ESG, semakin rendah nilai perusahaan dan reputasinya di mata pemangku kepentingan.

Kata Kunci: ESG Risk Rating, Kinerja Keuangan, Saham 

This study aims to analyze the effect of Environmental, Social, and Governance (ESG) Risk Rating on financial performance, firm’s value, and corporate reputation in energy sector companies listed on the Indonesia Stock Exchange (IDX) for the period 2022–2023. A quantitative approach was employed using Structural Equation Modeling–Partial Least Squares (SEM-PLS) with SmartPLS software version 3.7 (2018). The sample consists of 40 company data points based on ESG Risk Rating, Return on Investment (ROI), Return on Equity (ROE), Price to Book Value (PBV), and Tobin’s Q. The results indicate that ESG Risk Rating does not affect financial performance. However, ESG Risk Rating has a negative effect on both firm’s value and corporate reputation. These findings suggest that higher ESG risks are associated with lower firm value and diminished stakeholder perception of corporate reputation.

Keywords: ESG Risk Rating, Financial Performance, Stocks