PENGARUH PENGUNGKAPAN SUSTAINABILITY REPORT TERHADAP NILAI PERUSAHAAN

Abstract

This research examines the effect of the disclosure of sustainable reports in the social, economy, and environment categories on the firm value of the pharmaceutical sector listed on The Indonesia Stock Exchange (IDX) during 2020-2023. Sustainability becomes a strategic aspect which is increasingly being considered by stakeholders, since transparency in the aspects of economy, social, and environment are able to contribute to the increase of firm value and also the longterm reputation. The research applies quantitatively with the correlational approach to test the correlation between the independent and dependent variables. Furthermore, the data collection technique used purposive sampling, with a total population of 33 companies. In line with that, there were 23 companies which fulfilled the research criteria. as a sample. Moreover, the data analysis technique used multiple linear regression. The result shows that disclosure of economic performance (ECDI) has a positive effect on the firm value (Tobin’s Q). Meanwhile, the disclosure of social performance (SODI) and environment (ENDI) do not have a positive effect on the firm value. In brief, the economic transparency contributes more to develop the positive perception at the capital market compared with the social aspect and environment.