<![CDATA[This study aims to examine the influence of ownership and company size on ESG and firm value. The research was motivated by a 2022 report by the Mandiri Institute, which revealed that investment in companies implementing ESG principles shows a strong upward trend. Although the trend continues to strengthen globally, ESG implementation in Indonesia is not yet widely implemented and still poses various challenges, particularly related to company operations that do not fully address ESG aspects. The quantitative research approach is based on statistical data generated through secondary data processing from companies' public annual reports. The subjects of this study were manufacturing companies listed on the Indonesia Stock Exchange (IDX) between 2022 and 2023. The findings indicate that institutional ownership and company size do not have a significant influence on ESG. Regarding firm value, foreign ownership is shown to have a positive and significant effect on firm value. Conversely, institutional ownership and company size do not show a significant effect on firm value. ESG does not have a significant effect on firm value. The results of the Sobel mediation test indicate that ESG is unable to mediate the effects of foreign ownership, institutional ownership, or company size on firm value.]]>
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