<![CDATA[Purpose: This study aims to examine the effect of ESG disclosure and digital transformation on firm value, and to investigate whether firm size moderates that relationship in the context of energy sector companies listed on the Indonesia Stock Exchange. Methodology/approach: A quantitative approach was employed using secondary data from 108 energy companies observed over the period 2023–2024. Hypotheses were tested via multiple linear regression with interaction terms, and classical assumption tests were conducted to ensure model validity. Findings: Both ESG disclosure and digital transformation have a positive and significant impact on firm value. However, firm size negatively moderates these relationships, indicating that the positive effects of ESG disclosure and digitalization are weaker for larger firms. These results support the relevance of Stakeholder Theory and Contingency Theory in explaining the contextual nature of strategic value creation. Practical and Theoretical contribution/Originality: This research contributes to the growing literature on sustainability and digital strategy by offering a combined perspective of stakeholder accountability and organizational contingency. It highlights the pivotal role of firm size in shaping the effectiveness of ESG and digital transformation initiatives, especially within emerging market contexts. Research Limitation: ESG disclosure measurement relies on content analysis using a 33-item checklist, which depends heavily on the quality and completeness of information disclosed in corporate reports.]]>
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