THE EFFECT OF GREEN FINANCE AND CAPITAL STRUCTURE ON FIRM VALUE WITH PROFITABILITY AS A MODERATING VARIABLE

Katrin Sugma Agustin, Anggita Langgeng Wijaya, Erma Wulan Sari

Abstract


Abstract

Tujuan penelitian ini adalah untuk menentukan apakah penerapan prinsip-prinsip keberlanjutan oleh perusahaan perbankan yang terdaftar di BEI memiliki dampak terhadap nilai perusahaan. Profitabilitas digunakan sebagai variabel moderator, sedangkan green finance dan struktur modal digunakan sebagai variabel independen. Dari tahun 2020 hingga 2024, total 215 observasi dari 43 perusahaan keuangan dimasukkan dalam analisis kuantitatif ini. Sampel dipilih menggunakan metode purposive sampling, dan data diperoleh dari laporan keberlanjutan dan laporan tahunan perusahaan. SPSS 25 digunakan untuk menganalisis data. Hasil penelitian menunjukkan bahwa struktur modal memiliki dampak yang signifikan terhadap nilai perusahaan, sedangkan Green finance tidak memiliki pengaruh yang dapat diidentifikasi. Selain itu, hubungan antara keuangan hijau dan struktur modal terhadap nilai perusahaan diperkuat oleh profitabilitas, yang berfungsi sebagai variabel moderator.

 

Kata Kunci: Nilai Perusahaan, Green Finance, Struktur Modal, Profitabilitas.

 

Abstract

The purpose of this study is to determine whether the application of sustainability principles by banking companies listed on the Indonesia Stock Exchange has an impact on company value. Profitability is used as a moderating variable, while green finance and capital structure are used as independent variables. From 2020 to 2024, a total of 215 observations from 43 financial companies were included in this quantitative analysis. The sample was selected using purposive sampling, and data were obtained from the companies' sustainability reports and annual reports. SPSS 25 was used to analyze the data. The results show that capital structure has a significant impact on company value, while green finance has no identifiable effect. Furthermore, the relationship between green finance and capital structure on company value is strengthened by profitability, which functions as a moderator variable.

Keywords: Green Finance, Capital Structure, Corporate Value, Profitability.

 


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References


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