Rama, Pandri Hanandya (2025) DETERMINAN NILAI PERUSAHAAN SEKTOR ENERGI DENGAN BOARD GENDER DIVERSITY DAN LEVERAGE SEBAGAI VARIABEL MODERASI. S2 thesis, Universitas Mercu Buana Jakarta - Menteng.
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Abstract
Penelitian bertujuan untuk mengetahui bagaimana variabel Environmental, Social and Governance, Modal Intelektual, dan Kinerja Keuangan dapat mempengaruhi Nilai Perusahaan, dengan menambahkan variabel Board Gender Diversity dan Leverage sebagai variabel moderasi yang diperkirakan dapat memperkuat atau melemahkan pengaruh faktor- faktor tersebut. Penelitian ini menggunakan Teori Agensi, Teori Sinyal, dan Teori Legitimasi untuk menjelaskan mekanisme dari pengaruh variabel-variabel tersebut. Penelitian menggunakan model data panel dengan 10 sampel perusahaan di sektor energi yang memenuhi kriteria memperoleh skor ESG dari Bloomberg periode 2016-2023. Hasil penelitian menunjukkan bahwa Environmental, Social and Governance berpengaruh negatif signifikan terhadap Nilai Perusahaan, Modal Intelektual berpengaruh positif signifikan terhadap Nilai Perusahaan, dan Kinerja Keuangan tidak berpengaruh terhadap Nilai Perusahaan. Environmental, Social and Governance berpengaruh positif signifikan ketika dimoderasi oleh Leverage, namun sebaliknya, Modal Intelektual menjadi berpengaruh negatif signifikan ketika dimoderasi oleh Leverage Kinerja Keuangan memiliki pengaruh positif terhadap Nilai Perusahaan, dan pengaruh ini diperkuat secara signifikan oleh Leverage, menunjukkan bahwa profitabilitas yang tinggi dalam kondisi Leverage tinggi menjadi sinyal kuat bagi investor. Board Gender Diversity tidak memberikan peran moderasi yang signifikan dalam hubungan Environmental, Social and Governance, Modal Intelektual, maupun Kinerja Keuangan terhadap Nilai Perusahaan. The study aims to determine how Environmental, Social and Governance (ESG), Intellectual Capital, and Financial Performance variables can affect Firm Value, by adding Board Gender Diversity and Leverage variables as moderating variables that are estimated to strengthen or weaken the impact of these factors. This study uses Agency Theory, Signaling Theory, and Legitimacy Theory to explain the mechanisms behind the influence of these variables. The study uses a panel data model with a sample of 10 companies in the energy sector that meet the criteria for obtaining an ESG score from Bloomberg for the period 2016-2023. The results of the study indicate that ESG have a significant negative effect on Firm Value, Intellectual Capital has a significant positive effect on Company Value, and Financial Performance has no effect on Firm Value. ESG have a significant positive effect when moderated by Leverage, but conversely, Intellectual Capital becomes a significant negative effect when moderated by Leverage. Financial Performance has a positive effect on Company Value, and this effect is significantly strengthened by Leverage, indicating that high profitability under high Leverage conditions is a strong signal for investors. Board Gender Diversity does not provide a significant moderating role in the relationship between Environmental, Social and Governance, Intellectual Capital, and Financial Performance on Firm Value.
| Item Type: | Thesis (S2) |
|---|---|
| NIM/NIDN Creators: | 55123110015 |
| Uncontrolled Keywords: | ESG, Intellectual Capital, return on assets, board gender diversity, leverage ESG, Intellectual Capital, return on assets, board gender diversity, leverage |
| Subjects: | 600 Technology/Teknologi > 650 Management, Public Relations, Business and Auxiliary Service/Manajemen, Hubungan Masyarakat, Bisnis dan Ilmu yang Berkaitan > 651 Office Services/Layanan Kantor > 651.3 Office Management/Manajemen Kantor, Manajemen Perkantoran |
| Divisions: | Pascasarjana > Magister Manajemen |
| Depositing User: | ZAIRA ELVISIA |
| Date Deposited: | 07 Oct 2025 01:41 |
| Last Modified: | 07 Oct 2025 02:48 |
| URI: | http://repository.mercubuana.ac.id/id/eprint/98850 |
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