PENGARUH GOOD CORPORATE GOVERNANCE DAN ENVIRONMENTAL SOCIAL GOVERNANCE TERHADAP NILAI PERUSAHAAN DENGAN KINERJA KEUANGAN SEBAGAI VARIABEL MODERATING (Studi Empiris Pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Periode 2020-2023).                          

THE INFLUENCE OF GOOD CORPORATE GOVERNANCE AND ENVIRONMENTAL SOCIAL GOVERNANCE ON FIRM VALUE WITH FINANCIAL PERFORMANCE AS A MODERATING VARIABLE (An Empirical Study On Manufacturing Companies Listed On The Indonesia Stock Exchange For The Period 2020-2023)

Penelitian ini mengkaji pengaruh GCG dan ESG terhadap nilai perusahaan dengan mempertimbangkan moderasi kinerja keuangan. GCG diukur melalui komite audit, dewan direksi, komisaris independen, kepemilikan institusional, dan kepemilikan manajerial, sementara ESG diproksikan melalui kinerja lingkungan, kinerja sosial, dan kinerja tata kelola. Data berasal dari laporan keuangan 324 perusahaan di Bursa Efek Indonesia periode 2020-2023. Analisis regresi linier berganda menggunakan SPSS menunjukkan bahwa komite audit dan kepemilikan manajerial berpengaruh signifikan terhadap nilai perusahaan, sedangkan variabel lainnya tidak berpengaruh. Kinerja keuangan memoderasi hubungan komite audit, komisaris independen, dan kinerja tata kelola pada nilai perusahaan. Hasil ini menegaskan pentingnya komite audit, kepemilikan manajerial, dan kinerja tata kelola dalam meningkatkan nilai perusahaan.

This study examines the influence of Good Corporate Governance and Environmental, Social, and Governance on firm value, considering the moderating effect of financial performance. GCG is measured through the audit committee, board of directors, independent commissioners, institutional ownership, and managerial ownership, while ESG is proxied by environmental, social, and governance performance. Data were obtained from the financial reports of 324 companies listed on the Indonesia Stock Exchange for the period 2020-2023. Multiple linear regression analysis using SPSS reveals that the audit committee and managerial ownership significantly influence firm value, whereas other variables have no significant effect. Financial performance moderates the relationships between the audit committee, independent commissioners, and governance performance on firm value. These findings highlight the importance of the audit committee, managerial ownership, and governance performance in enhancing firm value.