PENGARUH NARSISME CEO, ENVIRONMENTAL SOCIAL AND GOVERNANCE DAN PROVITABILITAS TERHADAP NILAI PERUSAHAAN

Abstract

This study aims to examine the effect of CEO narcissism, Environmental, Social, and Governance (ESG) risk, and profitability on firm value. Firm value reflects a company’s performance and attractiveness to investors, measured using the Price to Book Value (PBV) ratio. CEO narcissism was measured through visual analysis in annual reports, ESG risk was assessed using Sustainalytics scores, and profitability was measured by Return on Equity (ROE). This quantitative study used multiple linear regression analysis, with a sample of companies listed in the SRI-KEHATI Index on the Indonesia Stock Exchange (IDX) during the 2022–2023 period. The results show that ESG risk has a negative effect on firm value, indicating that higher ESG risk leads to lower market perception of the firm. Meanwhile, profitability positively affects firm value, whereas CEO narcissism shows no significant effect. These findings contribute to investment and corporate strategy decisions, particularly in managing ESG risk and profitability as key factors influencing firm value in the capital market.
Keywords: CEO narcissism, ESG, profitability, firm value