PENGARUH PROFITABILITAS, LIKUIDITAS, DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN SUBSEKTOR MINYAK, GAS, BATU BARA

Abstract

Globalization drives business competition and pushes companies, including the mining, oil, and gas subsectors, to create advantages in the eyes of investors and the public. Operations in there subsectors have significant environmental impacts, making them a key consideration for investors amidst current ESG issues. Before investing, investors evaluate risk and return by analyzing company performance. This study aims to determine the effect of profitability, liquidity, and company size on the value of ESG and non ESG companies in the oil, gas, and coal subsectors. Hypothesis testing was conducted on company samples. Using SPSS, the analysis revealed that profitability affects the value of ESG companies but not non ESG companies. Liquidity does not influence the value of either ESG or non ESG companies. However, company size impacts the value of both ESG and non ESG companies. Simultaneously, profitability, liquidity, and company size collectively influence the value of ESG and non ESG companies. Investors are advised to define their investment preferences and analyze the risk and return of available investment products. Companies are encouraged to maintain their reputation to sustain their value. Future researchers are recommended to include different financial ratios and sampling years not convered in this study.