NILAI PERUSAHAAN DI ERA HIJAU: INOVASI HIJAU, PENGUNGKAPAN EMISI KARBON, BIAYA LINGKUNGAN, DAN TIPE INDUSTRI SEBAGAI VARIABEL MODERASI
DOI:
https://doi.org/10.35145/bilancia.v9i3.5231Keywords:
Green Innovation, Carbon Disclosure, Environmental Cost, Industry Type, Corporate Value, inovasi hijau, pengungkapan emisi karbon, biaya lingkungan, tipe industri, nilai perusahaanAbstract
Companies play a crucial role in communicating environmental accounting information to stakeholders. This study aims to examine the influence of green innovation, carbon emission disclosure, and environmental costs on firm value, as well as the role of industry type as a moderating variable. This study used 260 financial statements and sustainability reports from manufacturing, mining, and financial companies listed on the Indonesia Stock Exchange for the 2019–2023 period. Data analysis was performed using STATA statistical software. The results show that green innovation and carbon emission disclosure do not significantly influence firm value. Environmental costs also have no significant effect, and industry type does not moderate the relationship between green innovation, carbon emission disclosure, or environmental costs and firm value. These findings indicate that companies' sustainability practices have not been appreciated by the market as a factor that increases firm value.
Perusahaan memiliki peran penting dalam mengkomunikasikan informasi akuntansi lingkungan kepada para pemangku kepentingan. Penelitian ini bertujuan untuk menguji pengaruh green innovation, carbon emission disclosure, dan biaya lingkungan terhadap nilai perusahaan, serta peran tipe industri sebagai variabel moderasi. Penelitian ini menggunakan 260 data laporan keuangan dan laporan keberlanjutan dari perusahaan manufaktur, pertambangan, dan keuangan yang terdaftar di Bursa Efek Indonesia periode 2019–2023. Analisis data dilakukan dengan menggunakan software statistik STATA. Hasil penelitian menunjukkan bahwa green innovation dan carbon emission disclosure tidak berpengaruh signifikan terhadap nilai perusahaan. Biaya lingkungan juga tidak berpengaruh signifikan, dan tipe industri tidak memoderasi hubungan antara green innovation, carbon emission disclosure, maupun biaya lingkungan dengan nilai perusahaan. Temuan ini mengindikasikan bahwa praktik keberlanjutan yang dilakukan perusahaan belum diapresiasi oleh pasar sebagai faktor yang meningkatkan nilai perusahaan.
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