PUTRI, Namira Amanda (2026) Peran Environmental, Social, and Governance (ESG) dalam Memoderasi Pengaruh Kebijakan Pendanaan, Kebijakan Investasi, dan Volatilitas Laba terhadap Volatilitas Harga Saham. Skripsi thesis, Universitas Jenderal Soedirman.

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Abstract

This quantitative research analyzes the role of Environmental, Social, and Governance (ESG) in moderating the effects of leverage, asset growth, and earnings volatility on stock price volatility within the property and real estate sector. The study is motivated by the high risk in this sector, which accounts for 36.18% of issuers on the IDX Special Monitoring Board and shows significant price fluctuations from 2021 to 2024. Grounded in signaling and stakeholder theories, this study observes 40 companies listed on the Indonesia Stock Exchange (IDX) using a purposive sampling technique, totaling 160 observations. Data were analyzed using panel data regression via EViews 12 software. The results demonstrate that leverage and asset growth have positive effects on stock price volatility, whereas earnings volatility shows no effect. Conversely, ESG disclosure has a negative effect, indicating its role in stabilizing prices. Furthermore, ESG successfully functions as a moderating variable by weakening the impact of both leverage and asset growth on price fluctuations. However, ESG does not moderate the influence of earnings volatility. These findings provide critical implications for regulators and investors to consider non-financial ESG factors as a strategy to mitigate financial risk and maintain capital market stability.

Item Type:	Thesis (Skripsi)
Nomor Inventaris:	C26184
Uncontrolled Keywords:	volatilitas harga saham, leverage, pertumbuhan aset, volatilitas laba, Environmental, Social, and Governance (ESG)
Subjects:	S > S709 Stock price indexes
Divisions:	Fakultas Ekonomi dan Bisnis > S1 Manajemen
Depositing User:	Mrs. NAMIRA AMANDA PUTRI
Date Deposited:	06 May 2026 06:44
Last Modified:	06 May 2026 06:44
URI:	http://repository.unsoed.ac.id:443/id/eprint/40940

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