Analisis Determinan Nilai Perusahaan pada Industri Pertambangan: Tinjauan Tata Kelola, Tanggung Jawab Sosial, dan Profitabilitas PT. Timah Tbk (2019–2023)
Keywords:
Good Corporate Governance, Corporate Social Responsibility, Profitabilitas, Nilai PerusahaanAbstract
Nilai perusahaan merupakan indikator krusial yang mencerminkan keberhasilan manajemen dalam mengelola sumber daya serta membangun kepercayaan investor. Penelitian ini bertujuan untuk menganalisis pengaruh Good Corporate Governance (GCG), Corporate Social Responsibility (CSR), dan Profitabilitas terhadap nilai perusahaan pada PT Timah Tbk selama periode 2019–2023.
Metode penelitian yang digunakan adalah deskriptif kuantitatif dengan analisis regresi linier berganda terhadap data sekunder yang diperoleh dari laporan tahunan perusahaan.
Hasil penelitian menunjukkan bahwa secara parsial, GCG, CSR, dan Profitabilitas tidak memiliki pengaruh signifikan terhadap nilai perusahaan (Price to Book Value) pada objek penelitian ini. Namun, pengujian secara simultan membuktikan bahwa ketiga variabel tersebut secara bersama-sama memengaruhi nilai perusahaan sebesar 80,9%, sedangkan sisanya sebesar 19,1% dipengaruhi oleh faktor eksternal di luar model penelitian. Implikasi penelitian ini menegaskan bahwa pada sektor pertambangan yang volatil, variabel internal perlu didukung oleh manajemen reputasi dan mitigasi risiko operasional yang lebih kuat guna mempertahankan nilai pasar perusahaan di tengah isu tata kelola dan fluktuasi komoditas.
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