PENGARUH PENGUNGKAPAN SUSTAINABILITY REPORT DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN DENGAN INVESTMENT OPPORTUNITY SET SEBAGAI VARIABEL MODERATING

Novalia Afsari, Budi Artinah, Mujennah .

Abstract


This study aims to explain the effect of sustainability report which referred to Sustainability Report Disclosure Index (SRDI) and profitability which referred to Return On Assets (ROA), on firm value (Tobin's Q) with investment opportunity set as moderating variable which referred to Market Value to Book Value of Equity (MVE/BVE). The objects of this study were banking companies listed on Indonesia Stock Exchange (IDX) and had published sustainability report during 2016-2019. This research used secondary data in the form of annual reports and sustainability reports of the companies. The population in this research was obtained by using purposive sampling method on banking companies listed on Indonesia Stock Exchange (IDX) and had published sustainability report during 2016-2019. Based on the predetermined criteria, there were 10 companies that met the criteria and obtained 40 data during the period from 2016 to 2019. The technique of data analysis in this research was multiple regression analysis by using the SPSS (Statistical Product and Service Solutions). The result of this research showed that sustainability report had no significant effect on firm value. Profitability had a negative and significant effect on firm value, with the investment opportunity set had not been able to moderate the effect of the sustainability report on firm value. Moreover, the investment opportunity set had been able to moderate the effect of profitability on firm value.


Keywords


sustainability report, profitability, investment opportunity set,firm value.

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