PENGARUH SUSTAINABILITY REPORTING TERHADAP NILAI PERUSAHAAN DENGAN PROFITABILITAS SEBAGAI VARIABEL MEDIASI PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI 2021-2024
DOI:
https://doi.org/10.62007/joumi.v4i2.807Keywords:
Firm Value; Manufacturing Companies; Profitability; Return on Assets; Sustainability ReportingAbstract
Growing attention to sustainability issues has changed the way investors evaluate companies in Indonesia. Besides financial performance, investors increasingly consider the transparency of Environmental, Social, and Governance (ESG) disclosures. However, sustainability reporting practices among manufacturing companies remain uneven, resulting in inconsistent findings regarding firm value. This study examines the effect of sustainability reporting on profitability and firm value, as well as the mediating role of profitability. Using an explanatory quantitative approach, secondary data from the annual and sustainability reports of manufacturing companies listed on the Indonesia Stock Exchange were analyzed through descriptive statistics, classical assumption tests, regression analysis, and the Sobel test. The results show that sustainability reporting positively and significantly affects profitability and firm value. In addition, profitability significantly mediates the relationship between sustainability reporting and firm value. These findings support stakeholder, legitimacy, and signaling theories in explaining the economic benefits of sustainability reporting.
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