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VOL. 11, ISSUE 2 (2025)
The effect of Environmental, Social, Governance (ESG) disclosure on Company Value with Audit Quality as A moderating variable
Authors
Agatha Angelina Permana, Adi Firman Ramadhan
Abstract
This study examines the effect each aspect of Environmental, Social,
Governance (ESG) disclosure on firm value and how the role of audit quality in
moderating the relationship. This study was conducted using panel data
regression from 22 companies in the energy and basic materials sector that
listed on the Indonesia Stock Exchange (IDX) in the period 2021-2023, with a
total of 66 samples. The moderating role was tested using Moderated Regression
Analysis (MRA). The results of this study indicate that only Governance
disclosure has a significant positive effect on firm value (Tobin's Q).
Meanwhile, Environmental disclosure has a negative insignificant effect and
Social disclosure has a positive insignificant effect. In this study, the role
of audit quality doesn’t strengthen the relationship of each ESG aspect to firm
value. This result indicates that good governance is more concerned by
investors, while audit quality is not a determining factor in the relationship.
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Pages:42-48
How to cite this article:
Agatha Angelina Permana, Adi Firman Ramadhan "The effect of Environmental, Social, Governance (ESG) disclosure on Company Value with Audit Quality as A moderating variable". National Journal of Advanced Research, Vol 11, Issue 2, 2025, Pages 42-48
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