THE EFFECT OF FINANCIAL PERFORMANCE AND FIRM SIZE ON FIRM VALUE WITH GREEN ACCOUNTING AS A MEDIATOR

Riskha Amelya Putri Latifah, Liliek Nur Sulistyowati, Rollis Ayu Ditasari

Abstract


This study is conducted to investigate the impact of financial performance and firm size on firm value, with green accounting serving as a mediating variable, in energy sector companies listed on the Indonesia Stock Exchange (IDX) during the 2020–2024 period. Financial performance is represented by ROA, firm size is measured using the natural logarithm of total assets, firm value is assessed through PBV, and green accounting is indicated using a dummy variable based on the disclosure of environmental costs in the companies’ annual reports. The study utilizes secondary data from 32 energy sector companies over the 2020–2024 period, resulting in a total of 160 observations. The analysis was performed using multiple linear regression and the Sobel mediation test through SPSS version 26. The results reveal that both financial performance and firm size have a significant positive effect on firm value. Additionally, financial performance positively influences green accounting, whereas firm size does not show a significant impact on green accounting. Moreover, green accounting does not have a significant effect on firm value and is unable to mediate the relationship between financial performance, firm size, and firm value.


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