THE INFLUENCE OF ESG DISCLOSURE AND CAPITAL STRUCTURE ON FIRM VALUE
Abstract
This research seeks to ascertain empirically how ESG disclosure and capital structure relate to firm value. The research setting encompasses 85 companies operating within the property and real estate sector that were listed on the Indonesia Stock Exchange throughout 2021–2025. Through purposive sampling, 332 firm-year observations were retained for analysis. The empirical assessment was performed using multiple linear regression, supported by SPSS version 24. The findings reveal that greater ESG disclosure is associated with a decline in firm value, while capital structure demonstrates a positive association with firm value.
Keywords: ESG Disclosure, Capital Structure, Firm Value.
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