ABSTRACT: This study aims to test and analyze the influence of corporate sustainability, board capital on company value with cost of funds as the mediation variable and CEO power as the moderation variable, in the context of the capital market in Indonesia. This research is motivated by the difference in the results of previous research related to the relationship  between corporate sustainability and company values and economic phenomena that show increased awareness and stakeholder demands  for sustainable business practices. This study uses a quantitative approach with a panel data regression method. The research sample consisted of companies listed on the Indonesia Stock Exchange from 2014-2022, with a total of 459 firm-years of observation. The results of the study show that in this study there is a positive and significant effect on company value (H_1a) and corporate sustainability has a positive and significant effect on company value in the financial, energy, raw materials and primary consumer goods sectors (H_1b). However, the results of the study showed different results from the hypothesis. This study found that corporate sustainability actually has a negative and significant effect on the overall value of the company (rejecting H_1a) Another research hypothesis is that there is a positive and significant relationship between board capital and company value (H_2a) and there is a positive and significant relationship between board capital and the value of companies in the financial, energy, raw materials and primary consumer goods sectors (H_2b). The results of the study as a whole support the H_2a hypothesis, where board capital which includes the network, education, and experience of board members of the board of directors has a positive and significant effect on the Company’s value. The theoretical implications of these findings bring a deep understanding from several different perspectives. First, in the conflict between trade-off theory and stakeholder theory, the finding that ESG scores have a negative impact on a company’s value in the short term, but a positive impact in the long term, is in line with the different views of each theory. The trade-off theory highlights that ESG investments are considered an additional cost that can reduce a company’s value in a short period of time

Keywords:Corporate Sustainability, Board Capital, CEO Power, CEO Celebrity, Company Performance, Cost of Fund, Company Value.