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All Journal Asia-Pacific Management and Business Application
Devi Cheilsa Sumarno
Faculty of Economics and Business Brawijaya University Malang
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences

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Journal : Asia-Pacific Management and Business Application

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The Effect of Environmental, Social and Governance (ESG) Assessment on Firm Value with Profitability as a Mediating Variable Devi Cheilsa Sumarno; Wuryan Andayani; Yeney Widya Prihatiningtias
APMBA (Asia Pacific Management and Business Application) Vol 12, No 1 (2023)
Publisher : Department of Management, Faculty of Economics and Business, Brawijaya University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/ub.apmba.2023.012.01.4

Abstract

The development of recent issues regarding the climate change crisis, the impact of environmental damage, social welfare and good governance has forced several companies to adopt new assessment metrics Therefore, this study aims to analyze and examine the effect of ESG valuation on firm value, which is mediated by profitability. This quantitative research used secondary data, and the test used path analysis. The study's results prove that profitability (ROA) can mediate the relationship between ESG assessment and firm value (Tobin's Q). This study concludes that investors still see the value of profitability in considering the company's value in the future due to making investment decisions. This leads to capitalism, which means that investors still have difficulty exploiting the ESG aspect, so they must be assisted by looking at financial performance improvement in selecting companies for making investment decisions in the capital market.
Co-Authors Wuryan Andayani Yeney Widya Prihatiningtias