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Abstract
This study aims to examine the influence of Enterprise Risk Management (ERM) and Environmental Disclosure on firm value, and the moderating effect of Good Corporate Governance (GCG). The research adopts a quantitative approach using panel data regression. The sample consists of 20 mining companies listed on the Indonesia Stock Exchange (IDX) during 2019–2024. Variables were measured using COSO for ERM, GRI 300 for Environmental Disclosure, and independent board proportion for GCG. Environmental Disclosure has a significant positive effect on firm value, whereas ERM does not show a significant effect. GCG significantly moderates the effect of ERM on firm value, but not the effect of Environmental Disclosure This study integrates ERM, environmental disclosure, and corporate governance in the mining sector context with a moderating variable approach. It contributes empirically by exploring the role of GCG in enhancing the value impact of ERM and environmental transparency. Firms should enhance environmental transparency and apply structured risk management supported by effective governance to improve firm value.
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References
- Wibisono, B., & Prabowo, T. J. W. (2024). Pengungkapan Enterprise Risk Management terhadap nilai perusahaan yang dimoderasi Good Corporate Governance. Riset Akuntansi dan Bisnis Indonesia, 8(2), 149–160. https://doi.org/10.18196/rabin.v8i2.20673
- Emar, A. E. S., & Ayem, S. (2020). Pengaruh pengungkapan Enterprise Risk Management dan Intellectual Capital terhadap nilai perusahaan dengan Good Corporate Governance sebagai variabel moderasi. Wacana Ekonomi, 19(2), 79–90. https://doi.org/10.22225/we.19.2.2020.79-90
- Sari, P. I., & Ginito, R. (2023). Intellectual Capital, Enterprise Risk Management, dan Good Corporate Governance terhadap nilai perusahaan. Jurnal E-Bis, 7(2), 727–742. https://doi.org/10.37339/e-bis.v7i2.1404
- Cristofel, K., & Kusumawati, I. (2021). Pengaruh Enterprise Risk Management, Corporate Social Responsibility, dan Kepemilikan Institusional terhadap nilai perusahaan. Jurnal Akuntansi Bisnis, 14(1), 12–24. https://doi.org/10.30813/jab.v14i1.468
- Anggraini, N. A., & Afriya, E. N. (2022). Pengaruh Enterprise Risk Management terhadap nilai perusahaan dengan kepemilikan manajerial sebagai variabel moderasi. Diponegoro Journal of Accounting, 11(4),
- Qalbi Amaliyah, N. (2022). Pengaruh pengungkapan Enterprise Risk Management dan Intellectual Capital terhadap nilai perusahaan. Proceeding Simposium Nasional Akuntansi Vokasi, 1(1), 123–132.
- Mathilda, A., & Sufian, V. (2021). Pengaruh Enterprise Risk Management dan Sustainability Report terhadap nilai perusahaan. Jurnal Trisakti, 3(1), 45–58. https://doi.org/10.25105/jts.v3i1.17062
- Arena, M., Arnaboldi, M., & Azzone, G. (2010). The organizational dynamics of Enterprise Risk Management. Accounting, Organizations and Society, 35(7), 659–675. https://doi.org/10.1016/j.aos.2010.07.003
- Hoyt, R. E., & Liebenberg, A. P. (2011). The value of Enterprise Risk Management. Journal of Risk and Insurance, 78(4), 795–822. https://doi.org/10.1111/j.1539-6975.2011.01413.x
References
Wibisono, B., & Prabowo, T. J. W. (2024). Pengungkapan Enterprise Risk Management terhadap nilai perusahaan yang dimoderasi Good Corporate Governance. Riset Akuntansi dan Bisnis Indonesia, 8(2), 149–160. https://doi.org/10.18196/rabin.v8i2.20673
Emar, A. E. S., & Ayem, S. (2020). Pengaruh pengungkapan Enterprise Risk Management dan Intellectual Capital terhadap nilai perusahaan dengan Good Corporate Governance sebagai variabel moderasi. Wacana Ekonomi, 19(2), 79–90. https://doi.org/10.22225/we.19.2.2020.79-90
Sari, P. I., & Ginito, R. (2023). Intellectual Capital, Enterprise Risk Management, dan Good Corporate Governance terhadap nilai perusahaan. Jurnal E-Bis, 7(2), 727–742. https://doi.org/10.37339/e-bis.v7i2.1404
Cristofel, K., & Kusumawati, I. (2021). Pengaruh Enterprise Risk Management, Corporate Social Responsibility, dan Kepemilikan Institusional terhadap nilai perusahaan. Jurnal Akuntansi Bisnis, 14(1), 12–24. https://doi.org/10.30813/jab.v14i1.468
Anggraini, N. A., & Afriya, E. N. (2022). Pengaruh Enterprise Risk Management terhadap nilai perusahaan dengan kepemilikan manajerial sebagai variabel moderasi. Diponegoro Journal of Accounting, 11(4),
Qalbi Amaliyah, N. (2022). Pengaruh pengungkapan Enterprise Risk Management dan Intellectual Capital terhadap nilai perusahaan. Proceeding Simposium Nasional Akuntansi Vokasi, 1(1), 123–132.
Mathilda, A., & Sufian, V. (2021). Pengaruh Enterprise Risk Management dan Sustainability Report terhadap nilai perusahaan. Jurnal Trisakti, 3(1), 45–58. https://doi.org/10.25105/jts.v3i1.17062
Arena, M., Arnaboldi, M., & Azzone, G. (2010). The organizational dynamics of Enterprise Risk Management. Accounting, Organizations and Society, 35(7), 659–675. https://doi.org/10.1016/j.aos.2010.07.003
Hoyt, R. E., & Liebenberg, A. P. (2011). The value of Enterprise Risk Management. Journal of Risk and Insurance, 78(4), 795–822. https://doi.org/10.1111/j.1539-6975.2011.01413.x