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The Impact of Green Innovation and Digital Transformation on Firm Value with Enironmental Social Governance (ESG) as a Mediator

Pengaruh Inovasi Hijau dan Transformasi Digital terhadap Nilai Perusahaan dengan Environmental Social Governance (ESG) sebagai Variabel Mediasi

Authors

DOI:

https://doi.org/10.21070/ups.11025

Keywords:

Green Innovation, Digital Transformation, Environmental, Social, and Governance (ESG), Firm Value

Abstract

This study aims to analyze the effect of green innovation and digital transformation on firm value, with Environmental, Social, and Governance (ESG) serving as a mediating variable, among consumer-based companies listed on the Indonesia Stock Exchange during the 2020–2024 period. The study employs a quantitative method using secondary data and purposive sampling, resulting in 122 samples. Data analysis was conducted using multiple linear regression and the Sobel test. The results indicate that green innovation has a positive effect on firm value, whereas digital transformation has no effect. Green innovation and digital transformation influence ESG, but ESG does not influence firm value and is unable to mediate the relationship between green innovation or digital transformation and firm value. These findings suggest that increases in firm value are more directly influenced by green innovation than by ESG and digital transformation

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Posted

2026-05-19