The Influence of Intellectual Capital and Sustainability Report Disclosure on Firm Value of Companies Listed in The Sri-Kehati Index 2020-2024 with Investment Opportunity Set as a Moderating Variable

Companies are now required to enhance long-term value through the management of knowledge-based resources and transparency regarding sustainability practices. Intellectual capital is viewed as a means to create a competitive advantage, while sustainability reporting plays a role in building stakeholder trust. This study aims to analyze the influence of intellectual capital and sustainability reporting on firm value, with investment opportunity set as a moderating variable, in companies listed on the SRI-KEHATI Index for the 2020–2024 period. This research employs a quantitative approach, involving 9 companies consistently listed in the SRI-KEHATI Index over five consecutive years from 2020 to 2024. The results indicate that intellectual capital and sustainability report disclosure do not influence firm value, and the investment opportunity set does not moderate this relationship. However, the investment opportunity set has a direct effect on firm value. The study's findings are expected to provide an understanding of the conditions under which intellectual capital and sustainability disclosure can be genuinely recognized and valued by the market.