<![CDATA[This study investigates how ESG (Environmental, Social, and Governance) disclosure influences firm value, with financial performance serving as an intervening variable, among mining companies listed on the Indonesia Stock Exchange (IDX). Growing global attention toward corporate sustainability alongside inconclusive findings in prior research, particularly across developing economies, underpins the motivation for this inquiry. A quantitative design was employed using Partial Least Square–Structural Equation Modeling (PLS-SEM). Sample selection followed purposive sampling criteria. ESG disclosure was operationalized through an ESG disclosure index, firm value was proxied by Tobin’s Q, and financial performance was measured using Return on Assets (ROA). Empirical results indicate that ESG disclosure does not exert a statistically significant influence on either firm value or financial performance. In addition, financial performance fails to function as a bridge linking ESG disclosure to firm value. These findings imply that ESG-related disclosures from Indonesian mining firms have yet to rank as a primary criterion for investors when assessing corporate worth]]>
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