Effect Of Environmental Social Governance Disclosure (Esg), Operating Cash Flow, And Intangible Assets On Firm Value Empirical Study In The Financial Sector In Indonesia

Dian Jernih Waruwu; Sri Putri Winingrum

doi:10.63922/ijebir.v5i05.6536

Dian Jernih Waruwu Pamulang University, Indonesia
Sri Putri Winingrum Pamulang University, Indonesia

DOI: https://doi.org/10.63922/ijebir.v5i05.6536

Keywords: Environmental, Social, and Governance (ESG), operating cash flow, intangible assets, firm value

Abstract

This study aims to analyze the impact of Environmental, Social, and Governance (ESG) factors, operating cash flow, and intangible assets on firm value. A quantitative research approach was employed, utilizing regression analysis via EViews. The study relies on secondary data obtained from corporate annual and financial reports spanning the years 2020 to 2024. The results indicate that ESG, operating cash flow, and intangible assets collectively exert a significant influence on firm value. However, when analyzed individually, ESG does not significantly affect firm value, suggesting that ESG disclosure is not yet a primary consideration for investors when valuing a company. Operating cash flow also shows no significant impact on firm value, implying that a company's ability to generate cash from operations does not directly influence market perceptions of its value. Similarly, intangible assets do not significantly affect firm value, indicating that the presence of such assets has not yet exerted a sufficiently strong influence to enhance the company's value.

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