Pengaruh ESG Disclosure, Retention Ratio, dan Likuiditas pada Nilai Perusahaan: Peran Moderasi Ukuran Perusahaan di Sektor Infrastruktur (2021–2023)

Authors

  • Ade julia asyifa Universitas Pancasakti Tegal
  • Niken Wahyu Cahyaningtyas Universitas Pancasakti Tegal
  • Yuni Utami Universitas Pancasakti Tegal

DOI:

https://doi.org/10.30631/0ad98e98

Keywords:

ESG Disclosure, Retention Ratio, Liquidity, Firm Value, Firm Size, Infrastructure Sector, Moderated Regression Analysis(MRA)

Abstract

This study analyzes the efect of ESG Disclosure, Retention Ratio, and Liquidity on Firm Value, with Firm Size as a moderator, in Indonesian infrastructure companies (2021-2023). Using 109 observations. Results show ESG Disclosure and Liquidity negatively affect firm value, while Retention Ratio has no significant effect. Firm Size moderates the ESG Disclosure on firm value link but not the others. These findings highlight the importance of ESG and liquidity management, with firm size influencing only ESG’s effect, contributing to stakeholder and signaling theories in firm valuation

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Published

2025-06-04

Issue

Vol. 9 No. 1 (2025): Iltizam Journal of Shariah Economic Research

Section

Articles

License

Copyright (c) 2025 ILTIZAM Journal of Shariah Economics Research

Creative Commons License

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Creative Commons License
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

How to Cite

asyifa, A. julia, Wahyu Cahyaningtyas, N. ., & Utami, Y. . (2025). Pengaruh ESG Disclosure, Retention Ratio, dan Likuiditas pada Nilai Perusahaan: Peran Moderasi Ukuran Perusahaan di Sektor Infrastruktur (2021–2023). ILTIZAM Journal of Shariah Economics Research, 9(1), 118-134. https://doi.org/10.30631/0ad98e98