SARI, MELINDA PURNAMA (2026) PENGARUH KINERJA ESG DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN DENGAN STRUKTUR MODAL SEBAGAI MEDIATOR PADA PERUSAHAAN SUBSEKTOR MAKANAN DAN MINUMAN YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2020-2024. Undergraduate thesis, Universitas Satya Negara Indonesia.

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Abstract

This study aims to analyze the effect of Environmental, Social, and Governance (ESG) performance and profitability on firm value, with capital structure as a mediating variable, in food and beverage subsector companies listed on the Indonesia Stock Exchange (IDX) during 2020–2024. The study is motivated by differences in financial performance and firm value among companies within the same subsector and by inconsistent findings in prior studies regarding the effects of ESG and profitability on firm value. This research employs a quantitative approach using secondary data obtained from corporate financial statements and sustainability reports. ESG performance and profitability are the independent variables, capital structure is the mediating variable, and firm value is the dependent variable. Data were analyzed using path analysis to examine both direct and indirect effects. The results indicate that ESG performance and profitability affect capital structure, capital structure affects firm value, and ESG performance and profitability influence firm value both directly and indirectly through capital structure, confirming the mediating role of capital structure.

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