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ESG Disclosure and Firm Value Dynamics through Financial Performance Amelia, Rizky; Puspitasari, Diana; Nur Chasanah, Amalia; Prawitasari, Dian
Journal Economic Business Innovation Vol. 3 No. 1 (2026): April
Publisher : Inovasi Analisis Data

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69725/jebi.v3i1.343

Abstract

Purpose—This study examines how environmental, social, and governance (ESG) disclosure affects firm value. It also assesses the moderating roles of profitability and leverage in the relationship between ESG disclosure and firm value. Design/methodology/approach—This study adopts a quantitative explanatory approach. The sample comprises 61 manufacturing firms listed on the Indonesia Stock Exchange from 2021 to 2023, yielding 183 firm-year observations selected through purposive sampling. ESG disclosure is measured using Bloomberg ESG scores. Firm value is proxied by price-to-book value, profitability by return on assets, and leverage by the debt-to-equity ratio. Data are analyzed using Partial Least Squares Structural Equation Modeling in SmartPLS. Findings—ESG disclosure has a positive and significant effect on firm value. Profitability strengthens the relationship between ESG disclosure and firm value, suggesting that financially stronger firms provide more credible ESG signals to investors. Leverage also moderates the ESG disclosure–firm value relationship, though its effect is weaker than that of profitability. Originality/value—This research contributes to ESG and corporate finance literature by examining how profitability and leverage serve as moderating factors in the relationship between ESG disclosure and firm value. It emphasizes that the significance of ESG disclosure for firm value is influenced by financial performance and capital structure. Implications—The results indicate that companies should boost their ESG transparency, ensure robust profitability, and optimize leverage to increase market valuation.  
Conservation as Foundation, Destination as the Future: Transforming Mangrove Ecotourism in Tapak Semarang through Community Empowerment and Innovation Haziroh, Awanis Linati; Prawitasari, Dian; Putra, Febrianur Ibnu Fitroh Sukono; Ulfa, Adilla Kustya; Maharani, Qonita; Aisy, Nadira Rohadatul; Vizano, Nico Alexander
Jurnal Pengabdian UNDIKMA Vol. 7 No. 2 (2026): May
Publisher : LPPM Universitas Pendidikan Mandalika (UNDIKMA)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33394/jpu.v7i2.19601

Abstract

This community service program aims to transform a mangrove conservation area into an attractive and sustainable ecotourism destination through a community empowerment approach. The main partner of this program is the Tourism Awareness Group (POKDARWIS) of Tapak Village, Semarang City, which serves as a key actor in the management, development, and promotion of community-based mangrove ecotourism. The implementation methods consisted of field observations, focus group discussions (FGDs), training and counseling sessions, mentoring and hands-on practice, as well as evaluation and reflection. The assistance focused on developing structured ecotourism packages, strengthening digital marketing strategies, and improving service quality through the development of Standard Operating Procedures (SOPs). Data were analyzed using descriptive and comparative approaches to assess changes before and after program implementation. The results indicate increased community knowledge and skills in managing and promoting mangrove ecotourism, the establishment of structured tourism packages, the creation of digital promotional content, and the initial implementation of tourism service SOPs. The program significantly enhanced the readiness of local managers to receive visitors and created opportunities to improve the economic prospects of the local community. Therefore, this initiative contributes to the development of a community-based mangrove ecotourism model that emphasizes environmental conservation and local economic empowerment.
PENGARUH STRUKTUR MODAL DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA Nur Chasanah, Amalia; Prawitasari, Dian; Hasanatina, Foza Hadyu
JAMBURA: Jurnal Ilmiah Manajemen dan Bisnis Vol 9, No 1 (2026): JIMB - VOLUME 9 NOMOR 1 MEI 2026
Publisher : Universitas Negeri Gorontalo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37479/jimb.v9i1.38793

Abstract

Penelitian ini bertujuan untuk menganalisis pengaruh struktur modal dan profitabilitas terhadap nilai perusahaan pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia. Struktur modal diukur dengan Debt to Equity Ratio (DER) dan profitabilitas diukur dengan Return on Assets (ROA), sementara nilai perusahaan diukur dengan Price to Book Value (PBV). Penelitian ini menggunakan metode regresi linier berganda untuk menguji hubungan antar variabel tersebut. Hasil penelitian menunjukkan bahwa struktur modal, yang diproksikan dengan DER, tidak memiliki pengaruh signifikan terhadap nilai perusahaan. Sebaliknya, profitabilitas yang diukur dengan ROA memiliki pengaruh signifikan terhadap nilai perusahaan, meskipun arah hubungan yang ditemukan bersifat negatif. Secara simultan, baik struktur modal maupun profitabilitas berpengaruh signifikan terhadap nilai perusahaan, dengan kemampuan penjelasan model yang sangat tinggi. Penelitian ini menyimpulkan bahwa, dalam konteks perusahaan manufaktur di Indonesia, faktor profitabilitas lebih dominan dalam memengaruhi nilai perusahaan dibandingkan dengan struktur modal. Temuan ini memberikan kontribusi teoretis terhadap pengembangan corporate finance dan praktis bagi manajemen perusahaan dalam merancang strategi untuk meningkatkan kinerja keuangan dan nilai perusahaan.
Co-Authors Adilla Kustya Ulfa Agus Prayitno AGUSTINA, SINTA Ahmad, Mubashir Aisy, Nadira Rohadatul Amalia Nur Chasanah Amalia, Rifdah Aminah Rizkia Puspita Sari, Raden Ayu Andika, Arditya Dian Ardya Pandhega, Brian Ariati Anomsari Arta, Insyika Ananda Awanis Linati Haziroh Badiani, Farah Dina Budi Widjajanto Chalisa, Risky Nor Dian Andika , Arditya Dian Andika, Arditya Diana Puspitasari Duri, Galih Sephiani Rafika Dwi Eko Waluyo Dwi Handayani, Monica Febrianur Ibnu Fitroh Sukono Putra Foza Hadyu Hasanatina, Foza Hadyu Gagas Gayuh Aji, Gagas Gayuh Hallang Lewa, Andi Hariyadi, Guruh Taufan Herry Subagyo Ichwan Setiarso, Ichwan Ida Farida Imam Nuryanto Jaka Prasetya Juli Ratnawati Karis Widyatmoko Karmila karmila karmila Kasmanto, Ade Early Raka Putra Kusuma, Pradana Jati Kusumaningrum, Lely Kusumaningrum, Lely Kusumaningrum Lewa, Andi Hallang Linati Haziroh, Awanis Made Gede Wirakusuma Maharani, Intan Putri Dwi Maharani, Qonita Masduki, Charis Mertha Agung Durya, Ngurah Pandji Mufidah, Nabila Lutfi Mustikasari, Julia Arum Nabilla, Habibah Yuhrotun Nico Alexander Vizano Ningrum, Febyana Puspita Ningrum, Shintia Nabila Oktavia, Erni Oktavia, Vicky Oktoriza, Linda Ayu Pandji Mertha Agung Durya, Ngurah Permatasari, Noviana Putri Puspita Sari, Raden Ayu Aminah Rizkia Rachmawati, Syafalia Dewi Rizky Amelia Rudi Kurniawan Safitri, Maria Salsabila, Denaya Bethary Samasta, Almira Santi Setiarso, Ichwan Setiawan, Aries Setyani, Putri Desti Sjamsul Hidajat, Moch Suharnawi Suharnawi Suhita Whini Setyahuni Suryanti v, Amalia Nur Virgiawan, Mahendra Prima Wibowo, Mochammad Eric Suryakencana Yenny Ernitawati Yovita, Lenni Yulita Setiawanta Zakaria, Fakhmi