<![CDATA[This study examines the effect of ESG Score, Debt-to-Equity Ratio (DER), and Return on Equity (ROE) on firm value as measured by Price to Book Value (PBV) using data from publicly listed companies in Indonesia for the 2024 period. After removing 30 outliers, the final sample consisted of 78 observations. The results of the regression analysis show that ESG Score, DER, and ROE do not have a significant influence on PBV. The low R-squared value indicates that the model explains only a small portion of the variation in firm value, suggesting that PBV is predominantly shaped by other factors such as industry characteristics, market sentiment, and macroeconomic conditions. Although the classical assumption tests confirm that the model meets statistical requirements, the predictors still fail to produce significant effects, reflecting the empirical conditions of the observed period. This study is limited to a single-year observation, which restricts the ability to capture dynamic changes in sustainability performance, capital structure, and profitability. Future research is recommended to use multi-year panel data to provide a more comprehensive understanding of how these variables influence firm value over time.]]>
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