Influence of Enterprise Risk Management Disclosure and Corporate Social Responsibility Disclosure to Firm Value: Independent Commissioner as Moderation

This study aims to examine the influence of Enterprise Risk Management Disclosure and Corporate Social Responsibility Disclosure on firms value, US well US to evaluate the moderating role of independent commissioners in non-cyclical sector companies listed on the Indonesia Stock Exchange (IDX) during the 2018–2022 period. The research method employed is moderated regression analysis (MRA) using Eviews software. The results reveal that both Enterprise Risk Management Disclosure commissioners do not moderate the relationship between Enterprise Risk Management Disclosure and firm value. Conversely, independent commissioners strengthen the relationship between Corporate Social Responsibility Disclosure and firm value. These findings support agency theory, suggest that transparent disclosure and effective governance contribute to higher firm value by reducing information asymmetry and enhancing managerial oversight.