Artikel Ilmiah : C1B022061 a.n. AMELIA NUR ANJANI
| NIM | C1B022061 |
|---|---|
| Namamhs | AMELIA NUR ANJANI |
| Judul Artikel | PENGARUH PRAKTIK ESG, ECO-EFFICIENCY, CASH HOLDING, DAN DIVIDEND POLICY TERHADAP NILAI PERUSAHAAN DENGAN PERIODE COVID-19 SEBAGAI MODERASI |
| Abstrak (Bhs. Indonesia) | Penelitian ini bertujuan untuk menganalisis pengaruh Environmental, Social, and Governance (ESG), Eco-efficiency, Cash Holding, dan Dividend Policy terhadap nilai perusahaan, dengan Periode Covid-19 sebagai variabel moderasi. Objek penelitian ini adalah perusahaan sektor energi yang terdaftar di Bursa Efek Indonesia (BEI) periode 2020-2025. Jumlah sampel yang didapat dalam penelitian ini sejumlah 39 perusahaan. Purposive sampling method digunakan untuk menentukan sampel dalam penelitian ini. Metode analisis yang digunakan adalah regresi data panel dengan pendekatan Random Effect Model (REM) dan Moderated Regression Analysis (MRA). Hasil penelitian menunjukkan bahwa ESG berpengaruh positif terhadap nilai perusahaan. Eco-efficiency tidak berpengaruh terhadap nilai perusahaan. Cash Holding berpengaruh negatif terhadap nilai perusahaan. Dividend Policy berpengaruh positif terhadap nilai perusahaan. Dari sisi moderasi, Periode Covid-19 tidak mampu memoderasi pengaruh ESG terhadap nilai perusahaan. Periode Covid-19 memperlemah pengaruh eco-efficiency terhadap nilai perusahaan. Periode Covid-19 tidak mampu memoderasi pengaruh cash holding terhadap nilai perusahaan. Periode Covid-19 memperlemah pengaruh dividend policy terhadap nilai perusahaan. Implikasi dari penelitian ini menunjukkan bahwa manajemen perusahaan, khususnya di sektor energi, perlu memprioritaskan praktik ESG dan kebijakan dividen karena terbukti berdampak positif terhadap nilai perusahaan. Kebijakan kepemilikan kas lebih diperhatikan karena berdampak negatif terhadap nilai perusahaan. Kepemilikan ISO 14001 yang tidak berpengaruh serta peran moderasi Periode Covid-19 yang memperlemah pengaruh eco-efficiency dan dividend policy terhadap nilai perusahaan menunjukkan perlunya penguatan kebijakan sesuai kondisi dan pemahaman tentang kepemilikan ISO 14001. Oleh karena itu, perusahaan perlu meningkatkan praktik ESG, mengkomunikasikan manfaat ISO 14001 kepada pasar, mengurangi kas berlebih, dan membuat kebijakan dividen yang stabil. |
| Abtrak (Bhs. Inggris) | This study aims to analyze the effect of Environmental, Social, and Governance (ESG), Eco-efficiency, Cash Holding, and Dividend Policy on company value, with the Covid-19 period as a moderating variable. The object of this study is energy sector companies listed on the Indonesia Stock Exchange (IDX) for the period 2020-2025. The number of samples obtained in this study was 39 companies. The purposive sampling method was used to determine the sample in this study. The analysis method used was panel data regression with the Random Effect Model (REM) and Moderated Regression Analysis (MRA) approaches. The results of the study indicate that ESG has a positive effect on company value. Eco-efficiency has no effect on company value. Cash Holding has a negative effect on company value. Dividend Policy has a positive effect on company value. In terms of moderation, the Covid-19 period was unable to moderate the effect of ESG on company value. The Covid-19 period weakened the effect of eco-efficiency on company value. The Covid-19 period was unable to moderate the effect of cash holding on company value. The Covid-19 period weakened the effect of dividend policy on company value. The implications of this study indicate that corporate management, particularly in the energy sector, needs to prioritize ESG practices and dividend policies as they have been proven to have a positive impact on company value. Cash ownership policies deserve greater attention as they have a negative impact on company value. The lack of impact of ISO 14001 ownership and the moderating role of the Covid-19 period, which weakened the influence of eco-efficiency and dividend policy on company value, indicate the need to strengthen policies in line with conditions and understanding of ISO 14001 ownership. Therefore, companies need to improve ESG practices, communicate the benefits of ISO 14001 to the market, reduce excess cash, and establish stable dividend policies. |
| Kata kunci | Nilai Perusahaan, Environmental, Social, and Governance (ESG), Eco-efficiency, Cash Holding, Dividend Policy, Periode Covid-19 |
| Pembimbing 1 | Dr. Dian Purnomo Jati, S.E., M.Sc. |
| Pembimbing 2 | |
| Pembimbing 3 | |
| Tahun | 2026 |
| Jumlah Halaman | 149 |
| Tgl. Entri | 2026-01-19 14:08:35.319164 |