THE EFFECT OF ENVIRONMENTAL SOCIAL GOVERNANCE (ESG), MANAGERIAL OWNERSHIP, AND CAPITAL STRUCTURE ON COMPANY VALUE WITH AUDIT QUALITY AS A MODERATING VARIABLE IN COMPANIES LISTED IN THE SRI-KEHATI INDEX FOR THE PERIOD 2021-2024

Abstract

This study aims to examine the effect of Environmental, Social, and Governance (ESG), managerial ownership, and capital structure on firm value, with audit quality as a moderating variable in companies listed on the SRI-KEHATI Index during the 2021–2024 period. The sample consists of 12 companies with a total of 48 observations, selected using purposive sampling. Data analysis is conducted using the Random Effect Model (REM) and Moderated Regression Analysis (MRA). The results show that ESG and managerial ownership do not have a significant effect on firm value, while capital structure has a significant effect. In addition, audit quality does not moderate the relationship between ESG, managerial ownership, capital structure, and firm value.