THE EFFECT OF GREEN ACCOUNTING, CAPITAL STRUCTURE, AND FIRM SIZE ON FIRM VALUE WITH PROFITABILITY AS A MODERATOR

Binti Lailatul Mahfiroh, Anggita Langgeng Wijaya, M. Agus Sudrajat

Abstract


The importance of corporate value as a representation of investor viewpoints and businesses' attempts to strike a balance between managerial effectiveness and environmental responsibility is what motivates this study.  Corporate value is said to be influenced by a number of factors, including firm size, finance structure, and environmental consciousness.  Using a quantitative methodology and purposive sampling, the study uses a sample of 49 energy sector businesses that fit the requirements, yielding 245 yearly observations.  With the aid of SPSS version 24, the data were examined using multiple linear regression and moderated regression analysis (MRA).  The findings reveal that while business size and green accounting have negative effects on firm value, capital structure has a beneficial influence.  Furthermore, the associations between company value and the variables of capital structure, business size, and green accounting are not substantially moderated by profitability.  In light of these results, the study suggests that businesses proactively manage their environmental expenses to prevent a decline in firm value. Investors are also urged to consider the long-term advantages of green accounting alongside other non-financial and financial considerations.  Deeper and more thorough insights may be obtained for future studies by broadening the sample beyond the energy industry and adding other variables, such corporate governance.

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References


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