The THE EFFECT OF ENVIRONMENTAL, SOCIAL AND GOVERNANCE DISCLOSURE ON COMPANY VALUE: THE ROLE OF COMPANY REPUTATION AS A INTERVENING VARIABLE (A Comparative Case Study of Energy Companies Listed on the Indonesia and Malaysia Stock Exchanges for the Period 2022
Abstract
Investors are now paying more attention to non-financial aspects, one of which is ESG. ESG-related research has become a trending topic in research, especially in the field of accounting. This study aims to analyze the mediating effect of corporate reputation on the relationship between ESG disclosure and company value in energy companies listed on the Indonesia Stock Exchange and Malaysia Stock Exchange for the period 2022-2024. A sample of 77 companies was used. This study used path analysis. The results showed that ESG disclosure had no effect on company value, ESG disclosure had a significant effect on company reputation mediation, company reputation mediation had no effect on company value, and the relationship between ESG disclosure and company value through company reputation showed significant test results.
Based on the research results, it can be concluded that corporate reputation acts as a full mediation variable in the relationship between ESG disclosure and company value. Although ESG disclosure does not directly affect company value, good ESG practices significantly build corporate reputation. Ultimately, it is this reputation that contributes positively to an increase in company value. These findings imply that for energy companies in Indonesia and Malaysia, building reputation through comprehensive ESG disclosure is a crucial indirect strategy for increasing value in the eyes of investors
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Program Studi Akuntansi