Peranan Moderasi Corporate Governance atas Hubungan ESG dan Kinerja Perusahaan: Kajian terhadap Perusahaan Pertambangan dan Energi di Indonesia

Meidiana Mulya Ningsih; Dessy Yulianingrum; Razita Najih Relyza

doi:10.51510/jakp.v8i2.2492

Authors

Meidiana Mulya Ningsih Politeknik Akamigas Palembang
Dessy Yulianingrum Politeknik Akamigas Palembang
Razita Najih Relyza Politeknik Akamigas Palembang

DOI:

https://doi.org/10.51510/jakp.v8i2.2492

Keywords:

ESG, Profitability, Corporate Governance, Institutional Ownership, Profitabilitas, Tata Kelola Perusahaan, Kepemilikan Institusional

Abstract

This research aims to determine the moderating role of corporate governance mechanism on the effect of ESG and company performance. The study was conducted on mining and energy companies listed on the IDX for the period 2023 – 2024. The research population consists of all mining and energy companies listed on the IDX during the 2023-2024 period. Using a saturated sampling technique, 48 companies were selected that met the established criteria. This research uses a quantitative method with secondary data sourced from the company's financial history obtained thru the official IDX website and Katadata ESG Index. The independent variable of the study is ESG performance measured by the ESG index, the dependent variable is company performance measured by ROE, while the moderating variable is the corporate governance mechanism measured by institutional ownership. The multiple regression method using the SPSS statistical tool was employed as the analysis technique for the obtained data. Empirical evidence shows that ESG has a positive and significant impact on company performance, accompanied by the moderating role of institutional ownership to strengthen the influence of both variables.

Abstrak

Penelitian ini bertujuan untuk mengetahui peranan moderasi dari mekanisme tata kelola perusahaan atas pengaruh dari ESG dan kinerja perusahaan. Studi dilakukan pada perusahaan pertambangan dan energi yang terdaftar di BEI periode 2023 – 2024. Populasi penelitian merupakan seluruh perusahaan pertambangan dan energi yang terdaftar di BEI periode 2023 – 2024. Dengan menggunakan teknik sampling berupa sampling jenuh, diperoleh 48 perusahaan yang memenuhi kriteria yang telah ditetapkan. Penelitian ini menggunakan metode kuantitatif dengan jenis data sekunder yang bersumber data histori keuangan perusahaan yang diperoleh melalui laman resmi IDX dan Katadata ESG Index. Variabel independen penelitian adalah kinerja ESG yang diukur dari indeks ESG, variabel dependen adalah kinerja perusahaan yang diukur dari ROE sedangkan variabel moderasi adalah mekanisme corporate governance yang diukur dari kepemilikan institusional. Metode regresi berganda dengan alat statistik SPSS dipergunakan sebagai teknik analisis atas data yang telah diperoleh. Bukti empiris menunjukkan ESG berpengaruh positif dan signifikan terhadap kinerja perusahaan, disertai dengan adanya peranan moderasi dari kepemilikan institusional untuk memperkuat pengaruh kedua variabel tersebut.

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