PENGARUH PENGUNGKAPAN ESG TERHADAP NILAI PERUSAHAAN DENGAN KOMISARIS INDEPENDEN, KOMITE AUDIT DAN KEPEMILIKAN INSTITUSIONAL SEBAGAI VARIABEL MODERASI (Studi Empiris Perusahaan Sektor Energi yang Terdaftar di Bursa Efek Indonesia Periode 2021-2024)

In the face of global dynamics and challenges in the business world, the implementation of Environmental, Social, and Governance (ESG) has become a strategy increasingly being considered by companies to increase company value. In addition, independent commissioners, audit committees, and institutional ownership play an important role in improving the quality of corporate supervision and minimising potential agency conflicts. This study aims to analyse the effect of ESG disclosure on corporate value and examine the role of independent commissioners, audit committees, and institutional ownership as moderating variables. The study population consists of energy sector companies listed on the Indonesia Stock Exchange during the period 2021-2024. Samples were selected using purposive sampling, resulting in 31 companies that met the research criteria. Data analysis was performed using panel data regression methods in Stata 17. The results show that ESG disclosure affects company value. However, independent commissioners, audit committees, and institutional ownership individually are unable to moderate the effect of ESG disclosure on company value. This study is expected to provide empirical contributions to the development of literature related to ESG disclosure and corporate governance mechanisms, as well as serve as a consideration for management and investors in decision-making.