PENGARUH ESG DISCLOSURE TERHADAP NILAI PERUSAHAAN DENGAN PROFITABILITAS SEBAGAI VARIABEL MODERASI (Studi Kasus pada Perusahaan Manufaktur Subsektor Basic Materials yang Terdaftar di Bursa Efek Indonesia Periode 2021-2024)

This study aims to analtyze the effect of ESG disclosure on firm value with probability as a moderating variable (case study of basic materials manufacturing companies listed on the Indonesia Stock Exchange for the period 2021-2024). ESG is measured using Global Reporting Initiative (GRI) Standards, company value is measured using Tobin’s Q, while probability is measured using ROA. The sampling technique employed purposive sampling, resulting in 30 samples. The type of data in this study is secondary data, with documentation techniques in the form of annual report and sustainability report accessed through the Indonesia stock exchange (IDX) website and the official website of each company. This study used a panel data regression model with EViews 12. The result showed that ESG had a significant negative effect on firm value. However, ESG had a significant positive effect on firm value after being moderated by probability.