Pengaruh ESG Disclosure, Gender Diversity dan Board Size terhadap Nilai Perusahaan Dimoderasi Profitabilitas

This study aims to examine and analyze the impact of ESG disclosure, gender diversity, and board size on firm value, while simultaneously testing profitability as a moderating variable across infrastructure companies listed on the Indonesia Stock Exchange for the 2021-2024 period. Employing a purposive sampling approach, the research sample comprises 30 companies, yielding a total of 120 firm-year observations. The analytical framework utilizes panel data regression integrated with Moderated Regression Analysis (MRA) under the Random Effect Model (REM). Empirical findings reveal that gender diversity has a positive and statistically significant effect on firm value. In contrast, ESG disclosure and board size show no significant influence on firm value. Furthermore, the moderation assessment confirms that profitability moderates and weakens the positive link between gender diversity and firm value. Nevertheless, profitability fails to moderate the effects of ESG disclosure or board size on firm value. Conclusively, these results imply that capital market investors in the infrastructure sector value gender diversity more heavily than ESG disclosure or board size