CARBON EMISSION DISCLOSURE AND GREEN INVESTMENT IMPACT ON FIRM VALUE WITH FIRM SIZE MODERATION

Rahma Zaujatul Hafiqah, Nik Amah, Moh. Ubaidillah

Abstract


The purpose of this study is to examine how carbon emission disclosure and green investment affect firm value in the energy sector companies listed on the Indonesia Stock Exchange from 2021 to 2024. In addition, this research investigates the role of firm size as a moderating variable in this relationship. A total of 26 companies were selected as the sample out of 76 companies in the research population. This study employs a quantitative approach using moderation regression analysis with SPSS software. The results show that carbon emission disclosure has a positive effect on firm value, while green investment has a negative effect. Furthermore, firm size does not function as a moderator in the relationship between carbon emission disclosure, green investment, and firm value.

Keywords: firm value, carbon emission disclosure, green investment, firm size


Full Text:

PDF

References


Amah, N. (2024). Peran Tax Planning, Green Accounting dan Pertumbuhan terhadap Nilai Perusahaan. Akuntabilitas, 17(2), 139–150. https://doi.org/10.15408/akt.v17i2.43933

Amaliyah, F., & Herwiyanti, E. (2020). Pengaruh Keputusan Investasi, Ukuran Perusahaan, Keputusan Pendanaan dan Kebijakan Deviden terhadap Nilai Perusahaan Sektor Pertambangan. Jurnal Penelitan Ekonomi dan Bisnis, 5(1), 39–51. https://doi.org/10.33633/JPEB.V5I1.2783

Bahriansyah, R. I., & Ginting, Y. L. (2022). Pengungkapan Emisi Karbon terhadap Nilai Perusahan dengan Media Exposure sebagai Variabel Moderasi. JRAP (Jurnal Riset Akuntansi dan Perpajakan), 9(2), 226–237. https://doi.org/10.35838/JRAP.2022.009.02.21

Chen, Y., & Ma, Y. (2021). Does Green Investment Improve Energy Firm Performance? Energy Policy, 153, 112252. https://doi.org/10.1016/J.ENPOL.2021.112252

Damas, D., Maghviroh, R., Indreswari, M., Akuntansi, M., & Trisakti, U. (2021). Pengaruh Eco-Efficiency, Green Inovation dan Carbon Emission Disclosure terhadap Nilai Perusahaan dengan Kinerja Lingkungan sebagai Moderasi. Jurnal Magister Akuntansi Trisakti, 8(2), 85–108. https://doi.org/10.25105/JMAT.V8I2.9742

Dila, R., & Aryati, T. (2023). Analisis Intellectual Capital, Carbon Emission Disclosure dan Managerial Ownership terhadap Nilai Perusahaan. Jurnal Ekonomi Trisakti, 3(1), 1309–1318. https://doi.org/10.25105/JET.V3nisaI1.16040

Fitriana, A., Maharani, D. A., Amelia, S. R., & Pangestika, L. W. (2024). Pengungkapan Emisi Karbon untuk Meningkatkan Nilai Perusahaan: Apakah Kinerja Keuangan Mampu Memoderasi? Akurasi : Jurnal Studi Akuntansi dan Keuangan, 7(2), 407-420. https://doi.org/10.29303/akurasi.v7i2.587

Hadiwibowo, I., Limarty, D., & Azis, M. T. (2023). Pengungkapan Emisi Karbon, Penerapan Green Accounting dan Kinerja Lingkungan pada Nilai Perusahaan. Jurnal Riset Akuntansi Mercu Buana, 9(2), 142–152. https://doi.org/https://doi.org/10.26486/jramb.v9i2.3458

Indriani, M., & Purwasih, D. (2025). Pengaruh Green Investment, Kinerja Keuangan dan Ukuran Perusahaan terhadap Nilai Perusahaan. Jurnal Revenue : Jurnal Ilmiah Akuntansi, 5(2), 2451–2457. https://doi.org/10.46306/REV.V5I2.887

Kementerian Lingkungan Hidup dan Kehutanan. (2021). Indonesia Long-Term Strategy for Low Carbon and Climate Resilience 2050 United Nations Climate Change. Jakarta Pusat.

Kurnia, P., Emrinaldi Nur, D. P., & Putra, A. A. (2021). Carbon Emission Disclosure and Firm Value: A Study of Manufacturing Firms in Indonesia and Australia. International Journal of Energy Economics and Policy, 11(2), 83–87. https://doi.org/10.32479/IJEEP.10730

Kusumawardani, D., & Riduwan, A. (2017). Pengaruh Independensi, Audit Fee, dan Objektivitas terhadap Kualitas Audit. Jurnal Ilmu dan Riset Akuntansi (JIRA), 6(1), 388-402. https://jurnalmahasiswa.stiesia.ac.id/index.php/jira/article/view/776

Larasati, A. R., Arimuljarto, N., & Azhar, Z. (2024). Pengaruh Green Investment dan Kinerja Keuangan terhadap Nilai Perusahaan Pada Perusahaan Industri Pertambangan Yang Terdaftar di Bursa Efek Indonesia Tahun 2017-2022. Jurnal Manajemen Pratama. https://namara-feb.unpak.ac.id/index.php/namara/article/view/101

Mentari, N. M. I., & Dewi, K. I. K. (2023). Moderasi CSR Disclosure terhadap Pengaruh Green Investment Pada Nilai Perusahaan. Jurnal Ilmiah Akuntansi dan Bisnis, 8(1), 60–71. https://doi.org/10.38043/JIAB.V8I1.4663

Nisa, A. K. (2023). Effect of Carbon Emission Disclosure on Company Value with Environmental Performance as Moderating Variable in Non–Financial Companies Listed on the Indonesian Stock Exchange. JEKAMI Journal of Accounting, 3(1), 28–40. https://www.pusdig.web.id/akuntansi/article/view/126

Oktavia, R., & Murtanto. (2024). Carbon Emission Disclosure dan Green Investment terhadap Firm Value. Jurnal Inovasi Akuntansi dan Keuangan, 6(4). https://journalpedia.com/1/index.php/jiak/article/view/3647

Pradnyawati, I. A. K. & Werastuti, D. N. S. (2024). Pengaruh Pengungkapan Emisi Karbon, Biaya Lingkungan, dan Good Corporate Governance terhadap Nilai Perusahaan. Vokasi : Jurnal Riset Akuntansi, 13(1), 15–26. https://doi.org/10.23887/VJRA.V13I1.74430

Prasetyo, E. (2024). BEI Keluarkan RMK Energy (RMKE) dari Indeks Quality30, Imbas Harga Saham Anjlok Pasca Sanksi Lingkungan?. RMOLSUMSEL.ID. https://www.rmolsumsel.id/bei-keluarkan-rmk-energy-rmke-dari-indeks-quality30-imbas-harga-saham-anjlok-pasca-sanksi-lingkungan?

Rachmawati, S. (2021). Green Strategy Moderate The Effect of Carbon Emission Disclosure and Environmental Performance on Firm Value. International Journal of Contemporary Accounting, 3(2), 133–152. https://doi.org/10.25105/IJCA.V3I2.12439

Soetardjo, M. N., & Nurmawati, S. (2024). Pengaruh Tax Planning and Carbon Emission Disclosure terhadap Nilai Perusahaan Dengan Komisaris Independen sebagai Pemoderasi. Media Riset Akuntansi, Auditing & Informasi, 24(1), 131–150. https://doi.org/10.25105/V24I1.19749

Sun, Z. Y., Wang, S. N., & Li, D. (2022). The Impacts of Carbon Emissions and Voluntary Carbon Disclosure on Firm Value. Environmental Science and Pollution Research, 29(40), 60189–60197. https://doi.org/10.1007/S11356-022-20006-6

Ticoalu, R. A. R., & Agoes, S. (2023). Nilai Perusahaan dan Pengaruh Moderasi Kebijakan Dividen: Pengungkapan dari Emisi Karbon, Manajemen Risiko dan Tata Kelola. Jurnal Aplikasi Akuntansi, 7(2), 370–393. https://doi.org/10.29303/jaa.v7i2.213

Triyani, T., & Rusmanto, T. (2022). The Effect of Social Responsibility Disclosure, Carbon Emission Disclosure, Green Investment, and Financial Performance Toward Firm Value: The Case of Indonesia. Proceedings of the 2nd Indian International Conference on Industrial Engineering and Operations Management, 12(8), 1672–1681. https://doi.org/10.46254/IN02.20220457

Ubaidillah, M., Murwani, J., & Novitasari, M. (2024). The Role of Sustainability Report in Increasing Firm Value. Jesya (Jurnal Ekonomi dan Ekonomi Syariah), 7(2), 1897–1910. https://doi.org/10.36778/JESYA.V7I2.1721

Widarwati, E., Rohmah, N. N., Wityasminingsih, E., Nurmalasari, N., Apriandi, D. W., & Sopiawadi, M. (2024). Green Investment and Firm Value: Does Corporate Governance Matter? Journal of Accounting and Investment, 25(3), 1156–1174. https://doi.org/10.18196/JAI.V25I3.22159

Yusnia, W., Hidayah, N., & Siska Utami, P. (2024). Effectiveness of Implementing Green Finance, Green Investment, and Environmental Costs in Increasing Company Value in the Mining Sector. Distribusi - Journal of Management and Business, 12(2), 323–338. https://doi.org/10.29303/distribusi.v12i2.549

Zhang, Y., & Berhe, H. M. (2022). The Impact of Green Investment and Green Marketing on Business Performance: The Mediation Role of Corporate Social Responsibility in Ethiopia’s Chinese Textile Companies. Sustainability 2022, Vol. 14, Page 3883, 14(7), 3883. https://doi.org/10.3390/SU14073883


Refbacks

  • There are currently no refbacks.


 

 

 

 

 

 

 

Editorial Office:

Universitas PGRI Madiun

Kampus 3 Lantai 2

Fakultas Ekonomi dan Bisnis

Jl. Auri no. 14-16 Madiun