Nilai Perusahaan di Sektor Ekstraktif: Peran Profitabilitas, ESG, dan Moderasi Corporate Governance di Indonesia Periode 2020-2024
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Abstract
Penelitian ini menganalisis pengaruh profitabilitas dan Environmental, Social, and Governance (ESG) terhadap nilai perusahaan dengan komite audit sebagai variabel moderasi pada perusahaan sektor pertambangan dan energi ekstraktif periode 2020-2024. Penelitian ini bertujuan mengisi kesenjangan literatur terkait peran komite audit dalam memperkuat hubungan profitabilitas dan ESG terhadap nilai perusahaan pada kondisi pascapandemi dan volatilitas harga komoditas energi global. Penelitian menggunakan pendekatan kuantitatif dengan teknik purposive sampling pada 16 perusahaan sektor pertambangan dan energi ekstraktif yang terdaftar di Bursa Efek Indonesia (BEI). Analisis data dilakukan menggunakan SPSS melalui uji asumsi klasik, uji t, Moderated Regression Analysis (MRA), dan koefisien determinasi (R²). Hasil penelitian menunjukkan bahwa profitabilitas berpengaruh positif terhadap nilai perusahaan, sedangkan ESG tidak berpengaruh terhadap nilai perusahaan. Selain itu, komite audit mampu memoderasi pengaruh profitabilitas terhadap nilai perusahaan, namun tidak mampu memoderasi pengaruh ESG terhadap nilai perusahaan. Temuan ini menunjukkan bahwa investor pada sektor pertambangan dan energi ekstraktif masih lebih mempertimbangkan kinerja laba dan kualitas pengawasan perusahaan dibandingkan aspek keberlanjutan perusahaan dalam menentukan nilai perusahaan.
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