Pengaruh environnmenal, social, and governance (ESG) terhadap company value dengan financial flexibility dan capital structure sebagai pemoderasi = The influence of environmental, social, governance (ESG) on company value with financial flexibility and capital structure as moderations

Nadira, Zalfa (2023) Pengaruh environnmenal, social, and governance (ESG) terhadap company value dengan financial flexibility dan capital structure sebagai pemoderasi = The influence of environmental, social, governance (ESG) on company value with financial flexibility and capital structure as moderations. Bachelor thesis, Universitas Pelita Harapan.

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Abstract

Tujuan dari penelitian ini yaitu menguji pengaruh Environmental, Social, and Governance (ESG) terhadap company value dengan financial flexibility dan capital structure sebagai pemoderasi. Nilai perusahaan dalam penelitian ini diukur menggunakan proksi Tobin’s Q, ESG dalam penelitian ini menggunakan proksi ESG score, financial flexibility dalam penelitian ini menggunakan proksi perhitungan financial flexibility, dan capital structure dalam penelitian ini menggunakan proksi Debt to Equity Ratio (DER). Penelitian dilakukan dengan menggunakan data sekunder dari 101 perusahaan yang berada di Kawasan ASEAN 5 yang memiliki ESG score dari database Thompson Reuters selama periode 2016-2022. Teknik pengumpulan sampel dalam penelitian ini menggunakan purposive sampling method. Penelitian ini menemukan hasil bahwa ESG berpengaruh positif terhadap company value. Dalam penelitian ini juga ditemukan bahwa financial flexibility dapat memperlemah pengaruh negatif ESG terhadap company value. Kemudian dalam penelitian ini ditemukan juga bahwa capital structure dapat memperlemah pengaruh negatif ESG terhadap company value. / The aim of this research is to examine the influence of Environmental, Social, and Governance (ESG) on company value, with financial flexibility and capital structure as moderators. Company value in this study is measured using Tobin’s Q as a proxy, ESG is measured using an ESG score proxy, financial flexibility is measured using a proxy for financial flexibility calculation, and capital structure is measured using a Debt-to-Equity Ratio (DER) proxy. The research is conducted using secondary data from 101 companies in the ASEAN 5 region with ESG scores from the Thompson Reuters database during the period 2016-2022. The sample collection technique in this study uses purposive sampling method. The research findings indicate that ESG has a positive influence on company value. It is also found in this study that financial flexibility can weaken the negative influence of ESG on company value. Additionally, the research reveals that capital structure can weaken the negative influence of ESG on company value.

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