Mengungkap Pengaruh IC, ESG, dan Leverage Terhadap Nilai Perusahaan Melalui Strategi Bisnis
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Abstract
Penelitian ini bertujuan untuk menguji pengaruh intellectual capital, ESG performance, leverage, dan business strategy terhadap nilai perusahaan, dengan business strategy sebagai variabel moderasi pada hubungan antara intellectual capital dan ESG performance terhadap nilai perusahaan. Penelitian menggunakan pendekatan kuantitatif eksplanatori dengan data sekunder yang diperoleh dari laporan tahunan dan laporan keberlanjutan perusahaan yang tergabung dalam Indeks ESG Quality 45 IDX KEHATI periode 2021–2023. Analisis dilakukan menggunakan regresi data panel dengan pendekatan Random Effect Model (REM). Hasil penelitian menunjukkan bahwa intellectual capital dan leverage berpengaruh positif signifikan terhadap nilai perusahaan. Namun, ESG performance tidak berpengaruh signifikan terhadap nilai perusahaan. Sementara itu, business strategy terbukti memoderasi hubungan antara ESG performance dan nilai perusahaan, tetapi tidak memoderasi hubungan antara intellectual capital dan nilai perusahaan. Kesimpulan penelitian ini menegaskan pentingnya pengelolaan intellectual capital serta peran investasi strategis dalam memperkuat kontribusi ESG terhadap peningkatan nilai perusahaan.
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