eprintid: 49795
rev_number: 55
eprint_status: archive
userid: 9375
dir: disk0/00/04/97/95
datestamp: 2025-06-23 01:32:48
lastmod: 2025-06-23 01:32:48
status_changed: 2025-06-23 01:32:48
type: thesis
metadata_visibility: show
contact_email: 7776230004@untirta.ac.id
creators_name: Saputro, Tri Hijrah
creators_id: 7776230004
contributors_type: http://www.loc.gov/loc.terms/relators/THS
contributors_type: http://www.loc.gov/loc.terms/relators/THS
contributors_name: Ichwanudin, Wawan
contributors_name: Hanifah, Imam Abu
contributors_id: 197510232005011003
contributors_id: 197305262005011002
corp_creators: UNIVERSITAS SULTAN AGENG TIRTAYASA
corp_creators: FAKULTAS EKONOMI DAN BISNIS
corp_creators: MAGISTER MANAJEMEN
title: PERINGKAT RISIKO ESG (ESG RISK RATING) DAN NILAI PERUSAHAAN: ANALISIS MEDIASI PEMANFAATAN ASET DAN MODERASI PROFITABILITAS
(Studi Empiris pada Perusahaan yang Terdaftar di IDXESGL periode 2020-2023)
ispublished: pub
subjects: HG
divisions: FEB
divisions: MM
full_text_status: restricted
keywords: Asset Efficiency, ESG Risk Rating, Firm Value, IDXESGL, Profitability
Efisiensi Aset, ESG Risk Rating, IDXESGL, Nilai Perusahaan,
Profitabilitas
note: Penelitian ini menguji pengaruh ESG Risk Rating terhadap nilai perusahaan
dengan efisiensi pemanfaatan aset sebagai mediator dan profitabilitas sebagai
moderator. Sampel terdiri dari 13 perusahaan non-keuangan yang secara konsisten
terdaftar di IDXESGL selama 2020–2023. Pendekatan hierarchical modeling
digunakan melalui gabungan model baseline (regresi linier sederhana) dan Hayes
PROCESS Model 4, 7, 14, dan 58. Hasil menunjukkan bahwa ESG tidak
berpengaruh langsung terhadap nilai perusahaan, tetapi memiliki efek tidak
langsung melalui efisiensi operasional, tergantung tingkat profitabilitas.
Profitabilitas secara signifikan memperkuat hubungan efisiensi terhadap nilai
perusahaan, namun tidak memoderasi hubungan ESG terhadap efisiensi. Model 58
sebagai model paling komprehensif menunjukkan bahwa hubungan ESG dan nilai
tidak linier dan bersifat kontekstual. Hasil tetap konsisten pada uji ketahanan dan
analisis tambahan. Penelitian ini mendukung teori Stakeholder dan RBV dengan
menegaskan bahwa ESG memberikan nilai tambah hanya ketika dikombinasikan
dengan efisiensi internal dan kemampuan perusahaan dalam menghasilkan laba.
abstract: This study examines the impact of ESG Risk Rating on firm value, with asset utilization efficiency as a mediator and profitability as a moderator. The sample includes 13 non-financial companies consistently listed in IDXESGL during 2020–2023. A hierarchical modeling approach is applied using a combination of the baseline model (simple linear regression) and Hayes PROCESS Models 4, 7, 14, and 58. Results show that ESG does not directly affect firm value but has an indirect effect through efficiency, depending on profitability levels. Profitability significantly strengthens the efficiency–value relationship but does not moderate the ESG–efficiency path. Model 58, as the most comprehensive, indicates that the ESG–value relationship is nonlinear and context-specific. Results remain robust under sensitivity tests and additional analyses. This study supports Stakeholder and RBV theory, showing that ESG contributes to firm value only when aligned with internal efficiency and the firm’s ability to generate profits.
date: 2025
date_type: published
pages: 245
institution: UNIVERSITAS SULTAN AGENG TIRTAYASA
department: MAGISTER MANAJEMEN
thesis_type: masters
thesis_name: mphil
official_url: http://dx.doi.org/10.69693/ijim.v2i2.144
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citation:   Saputro, Tri Hijrah  (2025) PERINGKAT RISIKO ESG (ESG RISK RATING) DAN NILAI PERUSAHAAN: ANALISIS MEDIASI PEMANFAATAN ASET DAN MODERASI PROFITABILITAS (Studi Empiris pada Perusahaan yang Terdaftar di IDXESGL periode 2020-2023).  Master thesis, UNIVERSITAS SULTAN AGENG TIRTAYASA.   
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