ANALISIS PENGARUH ESG DISCLOSURE, PROFITABILITAS DAN LEVERAGE TERHADAP NILAI PERUSAHAAN: Studi Pada Emiten Syariah yang Terdaftar dalam Indeks ESG Sector Leaders IDX Kehati Periode 2021-2024

    Ninda Dinnulhaqul Wahidah, - and Hilda Monoarfa, - and Suci Aprilliani Utami, - (2025) ANALISIS PENGARUH ESG DISCLOSURE, PROFITABILITAS DAN LEVERAGE TERHADAP NILAI PERUSAHAAN: Studi Pada Emiten Syariah yang Terdaftar dalam Indeks ESG Sector Leaders IDX Kehati Periode 2021-2024. S1 thesis, Universitas Pendidikan Indonesia.

    Abstract

    Nilai perusahaan merupakan indikator penting yang diperhatikan investor karena mencerminkan kemampuan perusahaan dalam mengelola sumber daya. Dalam konteks keberlanjutan, Indeks ESG Sector Leaders IDX Kehati merepresentasikan emiten dengan kinerja environmental, social, dan governance (ESG) yang unggul di sektornya. Namun, kenyataannya terdapat emiten syariah yang justru mengalami penurunan nilai perusahaan, bahkan kinerja indeks ini juga menunjukkan tren menurun. Kondisi tersebut menimbulkan pertanyaan apakah ESG sebagai faktor non-keuangan benar-benar memengaruhi nilai perusahaan, ataukah faktor keuangan masih menjadi pertimbangan utama bagi investor. Penelitian ini bertujuan untuk menganalisis bagaimana pengaruh ESG disclosure, profitabilitas (ROA), dan leverage (DER) terhadap nilai perusahaan pada emiten syariah yang terdaftar dalam indeks ESG Sector Leaders IDX Kehati periode 2021–2024. Penelitian ini menggunakan pendekatan kuantitatif dengan metode regresi data panel. Data diperoleh dan diolah dari laporan keuangan tahunan serta laporan keberlanjutan 15 emiten syariah yang dipilih melalui teknik purposive sampling. Data tersebut kemudian dianalisis menggunakan perangkat lunak Eviews. Hasil analisis deskriptif menunjukkan bahwa rata-rata nilai perusahaan dan profitabilitas cenderung menurun selama periode 2021-2024, sementara ESG disclosure dan leverage (DER) meningkat. Penelitian ini memiliki kebaharuan yaitu berfokus pada emiten syariah dan penggunaan indeks ESG yang masih jarang diteliti dalam konteks pasar modal syariah di Indonesia. Uji hipotesis menunjukkan ESG disclosure berpengaruh negatif dan tidak signifikan terhadap nilai perusahaan, sedangkan profitabilitas (ROA) berpengaruh positif signifikan dan leverage (DER) berpengaruh negatif signifikan. The firm value is an important indicator for investors as it reflects a company’s ability to manage its resources effectively. In the context of sustainability, the ESG Sector Leaders IDX Kehati Index represents companies with superior environmental, social, and governance (ESG) performance in their respective sectors. However, some sharia company have experienced a decline in firm value, while the index itself has also shown a downward trend. This condition raises the question of whether ESG, as a non financial factor, truly influences firm value, or whether financial factors remain the primary consideration for investors. This study aims to analyze the effect of ESG disclosure, profitability (ROA), and leverage (DER) on firm value in sharia-compliant companies listed in the ESG Sector Leaders IDX Kehati Index during the 2021–2024 period. A quantitative approach with panel data regression was applied. The data were obtained from annual financial reports and sustainability reports of 15 companies selected through purposive sampling and processed using Eviews. Descriptive analysis shows that the average firm value and profitability tended to decline during the observation period, while ESG disclosure and leverage increased. The novelty of this research lies in its focus on sharia-compliant companies and the use of the ESG index, which remains rarely examined in the context of Indonesia’s Islamic capital market. Hypothesis testing reveals that ESG disclosure has a negative and insignificant effect on firm value, while profitability (ROA) has a positive significant effect, and leverage (DER) has a negative significant effect.

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    Official URL: https://repository.upi.edu/
    Item Type: Thesis (S1)
    Additional Information: https://scholar.google.com/citations?view_op=new_articles&hl=en&imq=NINDA+DINNULHAQUL# ID SINTA Dosen Pembimbing Hilda Monoarfa: 6150134 Suci Aprilliani Utami: 6006385
    Uncontrolled Keywords: Emiten Syariah, ESG Disclosure, Leverage, Nilai Perusahaan, Profitabilitas. ESG Disclosure, Firm Value, Leverage, Profitability, Sharia-compliant Companies
    Subjects: B Philosophy. Psychology. Religion > BP Islam. Bahaism. Theosophy, etc
    H Social Sciences > HD Industries. Land use. Labor
    H Social Sciences > HF Commerce
    Divisions: Fakultas Pendidikan Ekonomi dan Bisnis > Ilmu Ekonomi dan Keuangan Islam
    Depositing User: Ninda Dinnulhaqul Wahidah
    Date Deposited: 11 Sep 2025 14:34
    Last Modified: 11 Sep 2025 14:34
    URI: http://repository.upi.edu/id/eprint/137917

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