This study aims to examine the moderating roles of firm size and
profitability on the maximization of firm value with corporate social responsibility
disclosure and good corporate governance in the energy sector companies. The
population of this study consists of energy sector companies listed on the Indonesia
Stock Exchange from 2019 to 2023. The sampling method used is purposive
sampling, by curating samples from the population that meet predetermined
criteria, which are energy sector companies that have published sustainability
reports consecutively during the research period, and the reports contain
information related to the research variables. The sample used in this study
amounts to 80, with details of 16 companies meeting the criteria over the 5-year
research period. The analysis technique in this study is descriptive analysis and
quantitative analysis (classical assumption test, moderation regression analysis,
and hypothesis testing) using STATA version 17. The results of this study indicate
that the implementation of good corporate governance has a positive and
significant effect on the creation of firm value, and firm size is able to moderate the
relationship between good corporate governance and firm value. Additionally, the
relationships between corporate social responsibility disclosure and firm value,
corporate social responsibility disclosure and firm value moderated by firm size
and profitability, and good corporate governance moderated by profitability do not
show significant relationships.
Keywords : Firm Value, Corporate Social Responsibility Disclosure, Good
Corporate Governance, Firm Size, Profitabilitas, ROA