<![CDATA[Purpose – This study aims to analyze the effects of Environmental, Social, and Governance (ESG) disclosure, green innovation, and profitability, measured by Return on Assets (ROA), on firm value in energy sector companies listed on the Indonesia Stock Exchange during the 2019–2023 period. The study seeks to understand how sustainability-related factors and financial performance influence investor valuation amid increasing global attention toward sustainable business practices. Design/Methodology/Approach – This study employs a quantitative research approach using multiple linear regression analysis. The population consists of 90 energy sector companies listed on the Indonesia Stock Exchange during the observation period. Using a saturated sampling technique, six companies were selected as research samples. Data were collected from annual reports and sustainability reports obtained through Bloomberg and analyzed using SPSS version 30.0. Findings – The results indicate that ESG disclosure and profitability have a significant effect on firm value, while green innovation does not have a significant effect. The findings suggest that ESG disclosure strengthens investor confidence and contributes to higher firm value, while strong profitability reflects favorable financial performance that supports positive market valuation. Conversely, green innovation has not yet become a primary factor considered by investors in assessing company value. Originality/Value – This study contributes to sustainability and corporate finance literature by examining the simultaneous effects of ESG disclosure, green innovation, and profitability on firm value within the Indonesian energy sector. The findings provide insights for companies and investors regarding the relative importance of sustainability practices and financial performance in shaping market valuation.]]>
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