The Effect of Green Accounting Implementation, Carbon Emission Disclosure and Environmental Performance on Company Value in Basic and Chemical Industry - Cement Sub-Sector Companies Listed on The IDX In The 2021-2024 Period

Autor(s): Nurul Afifah Maulidiyah, Lana Sularto
DOI: 10.35760/ugefic.v8i1.98

Abstract

This research explores the impact of green accounting, carbon emission disclosure, and environmental performance on the firm value of Basic and Chemical Industry—Cement sub-sector companies listed on the Indonesia Stock Exchange during the 2021–2024 period. A quantitative methodology was applied, relying on secondary data collected from financial statements, sustainability reports, IDX publications, and PROPER ratings. Six companies were selected purposively, with variables measured as follows: Green Accounting (environmental cost/net income), Carbon Emission Disclosure (checklist score), Environmental Performance (PROPER index), and Firm Value (price-to-book value). Data analysis utilized descriptive statistics, classical assumption testing, and multiple linear regression processed through SPSS. The results show that green accounting significantly and positively influences firm value, while both carbon emission disclosure and environmental performance do not exhibit significant individual effects. However, when considered simultaneously, the three variables contribute significantly to explaining firm value. The findings suggest that embedding environmental costs into accounting systems has a greater impact on market valuation than relying solely on disclosure or environmental ratings. The study therefore recommends that companies strengthen the application of green accounting supported by standardized approaches to carbon disclosure.

Keywords

green accounting, carbon emission disclosure, environmental performance, firm value

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DOI: http://dx.doi.org/10.35760/ugefic.v8i1.98

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