This present study aimed at providing empirical evidence of whether sustainability report has value relevance for investors in buying or selling shares and affects firm value. This study used two research models. The first research model was used to examine the effect of book value and earnings on firm value. The second research model was used to examine the effect of sustainability report on firm value and define the value relevance of sustainability report. The samples of this study were 306 companies listed on the Indonesia Stock Exchange in 2017-2020. As a result, this study found that sustainability report is very useful information in making investment decisions. Investors do not only use short-term profits as a reference but also take sustainability report and long-term profits as a reference in making investment decisions.

Bahasa Abstract

Penelitian ini bertujuan untuk membuktikan apakah sustainability reporting memiliki relevansi nilai bagi investor dalam mengambil keputusan untuk membeli atau melepas saham dan mempengaruhi nilai perusahaan. Penelitian ini menggunakan dua model penelitian. Model penelitian pertama digunakan untuk menguji pengaruh nilai buku dan pendapatan pada nilai perusahaan. Model penelitian kedua dimaksudkan untuk menguji pengaruh laporan keberlanjutan terhadap nilai perusahaan dan menentukan relevansi nilai laporan keberlanjutan. Sampel yang digunakan yaitu perusahaan yang terdaftar di Bursa Efek Indonesia periode 2017-2020 dengan jumlah sampel sebanyak 306. Hasil penelitian ini menemukan bahwa laporan keberlanjutan merupakan informasi yang sangat bermanfaat dan digunakan dalam mengambil keputusan investasi. Investor tidak hanya menggunakan laba jangka pendek sebagai acuan tetapi juga menggunakan laporan keberlanjutan dan keuntungan jangka panjang sebagai acuan dalam mengambil keputusan investasi.


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