Pengaruh Sustainability Reporting Disclosure dan Board Characteristic terhadap Firm Value dengan Moderasi Profitabilitas

Sustainability Reporting Disclosure (SRD) and board characteristics have become important aspects of corporate governance and corporate valuation, particularly in industrial sector companies. This research analyzes the effects of SRD, board of director size, gender diversity, and the proportion of independent commissioners on firm value, while considering profitability as a moderating variable. Secondary data were obtained from annual reports and sustainability reports of industrial sector companies listed on the Indonesia Stock Exchange during 2022–2024. Purposive sampling resulted in 48 companies and 144 firm-year observations. SRD was measured using 117 disclosure items based on the GRI Standards 2021, while firm value was proxied by Price to Book Value (PBV) and profitability by Return on Assets (ROA). Panel data regression and Moderated Regression Analysis were performed using EViews 12, with the Random Effect Model selected based on the model specification tests. The empirical results show that SRD, board of director size, gender diversity, and the proportion of independent commissioners do not have a statistically significant effect on firm value. Profitability also fails to significantly moderate the relationships between these variables and firm value. The model produces an Adjusted R-squared of 0.0795, indicating that the variables included in the model explain 7.95% of the variation in firm value. The findings indicate that firm valuation in the observed industrial sector may be influenced by factors beyond sustainability disclosure, board characteristics, and profitability.