The Role of Institutional Ownership in Moderating ESG Disclosure’s Impact on Firm Value
Autor: | Fara Fauziah, Novita Novita, Imam Nurcahyo Fambudi |
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Jazyk: | English<br />Indonesian |
Rok vydání: | 2024 |
Předmět: | |
Zdroj: | Jurnal Reksa, Vol 11, Iss 2, Pp 108-121 (2024) |
Druh dokumentu: | article |
ISSN: | 2089-6581 2614-3720 |
DOI: | 10.12928/jreksa.v11i2.10534 |
Popis: | This study investigates the role of institutional ownership as a moderating variable that amplifies the effect of ESG disclosure on firm value within the Consumer Cyclical industry subsector over the period 2019-2021. Employing a quantitative approach, the study examines the relationship between ESG disclosure and firm value, with institutional ownership as the moderating variable. Leverage, measured by the debt-to-equity ratio (DER), is utilized as a control variable. The research focuses on companies in the Consumer Cyclical subsector listed on the Indonesia Stock Exchange during the specified period, with a sample comprising 38 companies selected through purposive sampling. Secondary data are used in the analysis. The findings reveal a positive effect of ESG disclosure on firm value. Furthermore, the study demonstrates that institutional ownership strengthens the association between ESG disclosure and firm value. This research contributes to the literature by emphasizing the critical role of institutional ownership in moderating the relationship between ESG disclosure and firm value. |
Databáze: | Directory of Open Access Journals |
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