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Journal : the manager reveiew

The Effect of Enterprise Risk Management and Environmental Disclosure on Firm Value with Good Corporate Governance as a Moderating Variable Kristiyanto, Kristiyanto; Rosini, Iin; Kusumaningsih, Ani
The Manager Review Vol. 7 No. 2 (2025)
Publisher : UNIB Press

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Abstract

This study aims to examine the influence of Enterprise Risk Management (ERM) and Environmental Disclosure on firm value, and the moderating effect of Good Corporate Governance (GCG). The research adopts a quantitative approach using panel data regression. The sample consists of 20 mining companies listed on the Indonesia Stock Exchange (IDX) during 2019–2024. Variables were measured using COSO for ERM, GRI 300 for Environmental Disclosure, and independent board proportion for GCG. Environmental Disclosure has a significant positive effect on firm value, whereas ERM does not show a significant effect. GCG significantly moderates the effect of ERM on firm value, but not the effect of Environmental Disclosure This study integrates ERM, environmental disclosure, and corporate governance in the mining sector context with a moderating variable approach. It contributes empirically by exploring the role of GCG in enhancing the value impact of ERM and environmental transparency. Firms should enhance environmental transparency and apply structured risk management supported by effective governance to improve firm value.
Co-Authors A. Asrorudin Abdul Aziz ACHEAMPONG, KENNEDY Ade Firmansyah Adira, Demilga Maghfirah Aldy Friyansyah Ambarita, Parlindungan Anggrainy, Faza Wahyu Ani Kusumaningsih Ani Kusumaningsih Ani Suryani Anthoni, LUkman Aprizal, Muhamad Dicky Ardini, Ririn Arifin Billah Arifin Billah Arini Nurul Pujiani Asrorudin, Ahmad Atha Farras Bagas Arya Agustyo Budi Santoso Kurniawan Budi, Saksono Cahayasari, Rizki Dani Rahman Hakim, Dani Rahman David Parningotan Gultom Dede Satia Wijaya Dede Yati Rosmiati Dian Widiyati Didik Setiawan Didik Setiawan Ditha Putria Dwi Purwanto Edi Muhamad Hidayat Fadhil Muntazar Fahmi, Tubagus Ahmad Alfi Fahmi Febriyanti, Eny Finatariani, Endah Firman Tatariyanto Fitria Herlina Hayati, Hikmatul Hidayatul Mu `Arifin Hikmahtul Hayati Holiawati, Holiawati Immami Immami Indah Ikhwaniyah Ismanto, Juli Juli Ismanto Kristiyanto, Kristiyanto Kurniasih , Diah Kusumaningsih, Ani Lativa Nurunnisa Lindawati Lindawati Luvito, Andi Mahwiyah, Mahwiyah Melly Andini Mohamad Ghofur Muhamad Dicky Aprizal Muhammad Ikhsan Febriyanto Nabilah, Dwi Uthari Neni Nuryati NGATIMIN, NGATIMIN Nita Laila Asyifa Nita Oktaviani Ginting Nofriyanti Nofriyanti Nofryanti Nofryanti Nofryanti Nofryanti Nofryanti Nofryanti Nofryanti Nofryanti Nofryanti Nofryanti Nofryanti Nofryanti Nofryanti, Nofryanti Novita Risnasari Nurul Hasanah Nurunnisa, Lativa Nuryati, Neni Pangaribuan, Laspita Parlindungan Ambarita Purwatiningsih Purwatiningsih Puspita Sari Widiyanti Putra, Wiandy Pratama Raden Mohamad Herdian Bhakti Rahman Hakim, Dani Rahmat Fauzi Ridwan Fauzi Ari Hamzah Rizqillah, Fahmi Roby Awaludin Rosita Wulandari Rupianna Tambunan Silvia Silvia Siti Nurul Fathimah Siti Ratna Sari Dewi Sitti Khadija Sofyan Supriyanto, Dafit Suripto Suripto Suripto Suripto Suripto Tabita Novikurniasari Harijanto Topan Pamungkas Tubagus Ahmad Alfi Fahmi Alfi Vicky Cesar Mardjuki Vinka Yuliana Weldhaningsih, Nurlaela Wiandy Pratama Putra Widiyati, Dian Widodo, Yulfian Ibnu Cahyo Widya Ningsih Wiji Astuti Winursito, Winursito Wulan Nurdiana Sari Yayah Syahriyah Yuliana, Prapti