PENGARUH PENGUNGKAPAN ESG TERHADAP KINERJA KEUANGAN PERUSAHAAN DENGAN INNOVATION INVESTMENT SEBAGAI VARIABEL MODERASI (Studi Pada Sektor Consumer Non-Cyclicals Di BEI Periode 2021-2024)

This study aims to analyze the influence of ESG disclosure on the company's financial performance with innovation investment as a moderation variable. The method used is quantitative associative in companies in the Consumer Non-Cyclicals sector listed on the Indonesia Stock Exchange (IDX) for the 2021–2024 period. Data was obtained from annual financial statements and company sustainability reports through purposive sampling of 70 companies with 280 observations. The analysis in this study used panel data regression and Moderated Regression Analysis (MRA) with the help of EViews 12 software. The results of the study show that ESG does not have a significant effect on the company's financial performance, but after being moderated by innovation investment proxied through Research and Development (R&D), ESG has a significant effect on the company's financial performance.