Main Content
Lembaga Kita Journal Portal
Open Access Articles

The Effects of Profitability and Environmental Performance on Firm Value: The Mediating Role of Green Accounting Disclosure in Energy Sector Companies Listed on the Indonesia Stock Exchange

  • Salis Ragil Wilujeng1*
  • Dyarini2
1,2 Universitas Muhammadiyah Jakarta image/svg+xml
* Corresponding Author: Salis Ragil Wilujeng

Abstract

This study is motivated by inconsistent findings regarding the effects of profitability, environmental performance, and green accounting disclosure on firm value, particularly in the energy sector, which faces substantial environmental risks. The study examines the direct effects of profitability and environmental performance on firm value and the mediating role of green accounting disclosure. Using a quantitative causal research design, this study analyzes 34 energy sector companies listed on the Indonesia Stock Exchange during 2020–2024, selected through purposive sampling. Secondary data were collected from annual reports, sustainability reports, and PROPER reports. Profitability was measured by Return on Equity (ROE), environmental performance by PROPER ratings, firm value by Tobin’s Q, and green accounting disclosure by the GRI 300 Index. Data were analyzed using panel data regression and Sobel mediation tests. The results indicate that profitability has no significant effect on firm value or green accounting disclosure. In contrast, environmental performance positively affects both firm value and green accounting disclosure. Green accounting disclosure negatively affects firm value and mediates the relationship between environmental performance and firm value, but not the relationship between profitability and firm value. These findings highlight the importance of environmental performance and sustainability disclosure in shaping firm value within the energy sector.

Keywords

Energy Sector Environmental Performance Firm Value Green Accounting Disclosure Profitability

How to Cite

Citation Format
Wilujeng, S. R., & Dyarini, D. (2026). The Effects of Profitability and Environmental Performance on Firm Value: The Mediating Role of Green Accounting Disclosure in Energy Sector Companies Listed on the Indonesia Stock Exchange. International Journal of Management Science and Information Technology, 6(1), 964-977. https://doi.org/10.35870/ijmsit.v6i1.7454

References

84 References
  • Al Gamar, M. F., & Widoretno, A. A. (2024). The Effect of Profitability, Carbon Emissions Disclosure, Sustainability Reporting, and Green Accounting on the Firm Value of Indonesia Energy Companies. Keberlanjutan: Jurnal Manajemen Dan Jurnal Akuntansi, 9(1), 1–12. https://doi.org/10.32493/keberlanjutan.v9i1.y2024.p1-12
  • Alaika, A. A., & Firmansyah, A. (2024). Unveiling The Impact of Green Accounting and Sustainability Disclosure on The Firm Value. Journal of Governance Risk Management Compliance and Sustainability, 4(2), 64–78. https://doi.org/10.31098/jgrcs.v4i2.2436
  • Aldi, A., & Afa, S. (2024). Pengaruh Keaungan pada Return on Asset, Return on Equity dan Net Profit Margin terhadap Harga Saham pada Sektor Energi pada Periode (2018-2022). EMABI: Ekonomi dan Manajemen Bisnis, (2), 1–7.
  • Alexander, N. (2023). Green Accounting and Firm Value. GATR Accounting and Finance Review, 7(4), 12–18. https://doi.org/10.35609/afr.2023.7.4(2)
  • Amelia, I. Y. (2024). The Influence of Good Corporate Governance and Green Accounting Disclosure on Firm Value with Profitability as a Mediating Variable. Indonesian Journal of Business Analytics (IJBA), 4(6), 2122–2141. https://doi.org/10.55927/ijba.v4i6.12318
  • Andriani, S. D., Kusumastuti, R. D., & Hernando, R. (2023). Pengaruh Return on Equity (ROE), Earning Per Share (EPS) Dan Debt to Equity Ratio (DER) Terhadap Harga Saham (Studi Empiris Pada Perusahaan Industri Makanan Olahan Yang Terdaftar Di Bursa Efek Indonesia Tahun 2018 – 2020). Owner, 7(1), 333–345. https://doi.org/10.33395/owner.v7i1.1268
  • Anggita, W., Nugroho, A. A., & Suhaidar. (2022). Carbon Emission Disclosure and Green Accounting Practices on The Firm Value. Jurnal Akuntansi, 26(3), 464–481. https://doi.org/10.24912/ja.v26i3.1052
  • Astari, T. A., Laurens, S., Wicaksono, A., & Sujarminto, A. (2023). Green Accounting and Disclosure of Sustainability Report on Firm Values in Indonesia. E3s Web of Conferences, 426, 02024. https://doi.org/10.1051/e3sconf/202342602024
  • Astuti, Sembiring, L. D., Supitriyani, S., Azwar, K., & Susanti, E. (2021). Analisis Laporan Keuangan. In H. F. Ningrum (Ed.), Analisis Laporan Keuangan (pp. 1–177). CV. Media Sains Indonesia.
  • Astuti, T., & Ahmar, N. (2025). Effects of green intellectual capital, green accounting, and green innovation on firm value: The moderating role of return on assets. Environmental Economics, 16(1), 1–12. https://doi.org/10.21511/ee.16(1).2025.01
  • Azzahra, L. D., & Ekowati, W. H. (2021). Pengaruh Profitabilitas, Leverage, Kepemilikan Manajerial dan Dewan Komisaris Independen terhadap Tingkat Pengungkapan Corporate Social Responsibility (Studi pada Perusahaan Agrikultur, Pertambangan, dan Manufaktur yang Terdaftar di BEI Tahun 2018-2019). Jurusan Akuntansi, Fakultas Ekonomi Dan Bisnis, Universitas Brawijaya Malang.
  • Benget, J. L., & Siahaan, B. T. (2023). Pengaruh Ukuran Perusahaan, Return on Asset, Return on Equity Dan Debt to Equity Ratio Terhadap Nilai Perusahaan Pada Idx Growth30. Akuntansi Prima, 5(2), 100–106. https://doi.org/10.34012/japri.v5i2.4227
  • Brigham, E. F., & Daves, P. R. (2018). Intermediate Financial Management (13th ed.). Cengage Learning.
  • Brigham, E. F., & Houston, J. F. (2019). Fundamentals of Financial Management (15th ed.). Cengage Learning.
  • Delmas, M. A., & Burbano, V. C. (2011). The Drivers of Greenwashing. California Management Review, 54(1), 64–87. https://doi.org/10.1525/cmr.2011.54.1.64
  • Dewi, G. A. K. R. S. (2025). Carbon Emission Disclosure, Environmental Performance, and Firm Value: The Role of Financial Performance Declaration of conflict of interest: non declared. Jurnal Ilmiah Akuntansi (JIA), 10(1), 70–86. https://doi.org/10.23887/jia.v10i1.55564
  • Eccles, R. G., Ioannou, I., & Serafeim, G. (2014). The Impact of Corporate Sustainability on Organizational Processes and Performance. Management Science, (11), 2835–2857. https://doi.org/10.1287/mnsc.2014.1984
  • Endiana, I. D. M., & Suryandari, N. N. A. (2021). Perspektif Akuntansi Manajemen Lingkungan Dan Pengungkapannya Pada Nilai Perusahaan. Jurnal Akuntansi Dan Auditing, 17(1), 80–89. https://doi.org/10.14710/jaa.17.1.80-89
  • Erlangga, C. M., Fauzi, A., & Sumiati, A. (2021). Penerapan Green Accounting Dan Corporate Social Responsibility Disclosure Terhadap Nilai Perusahaan Melalui Profitabilitas. Akuntabilitas, 14(1), 61–78. https://doi.org/10.15408/akt.v14i1.20749
  • Fairus Yumna, U., & Kartika, I. (2025). Peningkatan Nilai Perusahaan Melalui Green Accounting dan Good Corporate Governance: Kinerja Keuangan sebagai Variabel Mediasi. Jurnal Sosial Dan Sains, 5(2), 176–193. https://doi.org/10.59188/jurnalsosains.v5i2.32047
  • Faizah, B. S. Q. (2020). Penerapan Green Accounting terhadap Kinerja Keuangan. Jurnal Riset Akuntansi Kontemporer, 12(2), 94–99. https://doi.org/10.23969/jrak.v12i2.2779
  • Fauzi, T. H. (2022). The Effect of Environmental Performance on Firm Value with Mediating Role of Financial Performance in Manufacturing Companies in Indonesia. Academic Journal of Interdisciplinary Studies, 11(3), 256. https://doi.org/10.36941/ajis-2022-0081
  • Febriana, H., Rismanty, V. A., Bertuah, E., Permata, S. U., Anismadiyah, V., Sembiring, L. D., Dewi, N. S., Jamaludin, Jatmiko, N. S., Inrawan, A., Astuti, W., & Dewi, I. K. (2021). Dasar-Dasar Analisis Laporan Keuangan. In J. Irnawati (Ed.), Dasar-Dasasr Analisis Laporan Keuangan (1st ed., pp. 1–232). CV. Media Sains Indonesia.
  • Fernando, K., Jocelyn, H., Frista, F., & Kurniawan, B. (2024). The Effect of Green Accounting Disclosure on the Firm Value of Listed Mining and Agriculture Companies in Southeast Asia Countries. International Journal of Energy Economics and Policy, 14(1), 377–382. https://doi.org/10.32479/ijeep.15151
  • Firdaus, T., & Ma’arif, S. (2025, June 12). Pengaruh Return on Assets (ROA), Return on Equity (ROE), dan Debt to Equity Ratio (DER) terhadap Harga Saham Perusahaan Sektor Energi yang Terdaftar di Bursa Efek Indonesia Tahun 2022-2023. Senakota-Seminar Nasional Ekonomi Dan Akuntansi.
  • Fitria, A., & Murtanto. (2024). The Effect of Environmental, Social, And Governance (Esg) Disclosure, And Green Accounting on Stock Return: Moderated by Independent Board of Commissioners. International Journal of Accounting, Management, Economics and Social Sciences (IJAMESC), 2(5), 1774–1788. https://doi.org/10.61990/ijamesc.v2i5.290
  • Friede, G., Busch, T., & Bassen, A. (2015). ESG and Financial Performance: Aggregated Evidence from More Than 2000 Empirical Studies. Journal of Sustainable Finance and Investment, 5(4), 210–233. https://doi.org/10.1080/20430795.2015.1118917
  • Gray, R. (2002). The Social Accounting Project and Accounting Organizations and Society Privileging Engagement, Imaginings, New Accountings and Pragmatism Over Critique? Accounting, Organizations and Society, 27, 687–708. https://doi.org/10.1016/S0361-3682(00)00003-9
  • Gunardi, E. J., Widianingsih, L. P., & Ismawati, A. F. (2021). The Value Relevance of Environmental Performance, Corporate Social Responsibility Disclosure, And Return on Equity. Research In Management and Accounting, 4(1), 37–49. https://doi.org/10.33508/rima.v4i1.3130
  • Hafidz, S. A., & Deviyanti, D. R. (2022). Pengaruh Kinerja Lingkungan Terhadap Nilai Perusahaan Dengan Pengungkapan CSR Sebagai Variabel Intervening. Akuntabel, 19(2), 366–374. https://doi.org/10.30872/jakt.v19i2.11123
  • Hao, Y., & Kasahara, H. (2025). Estimating the Number of Components in Panel Data Finite Mixture Regression Models with an Application to Production Function Heterogeneity. Econometrics. https://doi.org/10.48550/arXiv.2506.09666
  • Harahap, F. A., & Yuyetta, E. N. A. (2025). Pengaruh Penerapan Green Accounting Terhadap Nilai Perusahaan (Studi Empiris pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Tahun 2022-2023). Diponegoro Journal of Accounting, 14(2). Retrieved from https://ejournal3.undip.ac.id/index.php/accounting/article/view/50826
  • Hendrani, A., Adhitia, M. A., & Septyanto, D. (2022). Pengaruh Strategi Bisnis Terhadap Tax Avoidance Dengan Sustainability Performance Sebagai Variabel Intervening. Fair Value: Jurnal Ilmiah Akuntansi Dan Keuangan, 4(Spesial Issue 3), 1486-1499. https://doi.org/10.32670/fairvalue.v4iSpesial Issue 3.846
  • Husda, A. P., Haldy, M., & Saputra, A. (2024). Green Accounting: Implementation In Indonesia, India & Yordania. JIM UPB (Jurnal Ilmiah Manajemen Universitas Putera Batam), 13(1), 713-719. https://doi.org/10.33884/jimupb.v13i1.9463
  • Indonesia Environment Energy Center. (2016). Program Penilaian Peringkat Kinerja Perusahaan (PROPER). https://environment-indonesia.com/program-penilaian-peringkat-kinerja-perusahaan-proper/.
  • Islam, Md. N., Uddin, Md. M., & Hossain, S. Z. (2024). Do Environmental Reporting Practices Impact Firm Performance in Bangladesh? An Empirical Perspective. Open Journal of Accounting, 13(02), 15–31. https://doi.org/10.4236/ojacct.2024.132002
  • Jufrizen, J., & Al Fatin, I. N. (2020). Pengaruh debt to equity ratio, return on equity, return on assets dan ukuran perusahaan terhadap nilai perusahaan pada perusahaan farmasi. Jurnal Humaniora: Jurnal ilmu sosial, ekonomi dan hukum, 4(1), 183-195. https://doi.org/10.30601/humaniora.v4i1.677
  • Kusniawati, A., Mujanah, S., & Fianto, A. Y. A. (2025). Research Trends on Green Accounting, CSR, and Financial Performance in the Context of Firm Value: A Bibliometric Analysis of Indonesian Energy Sector Literature. International Journal of Economics and Management Research, 4(2), 224–240. https://doi.org/10.55606/ijemr.v4i2.363
  • Lestari, A. D., & Khomsiyah. (2023). Pengaruh Kinerja Lingkungan, Penerapan Green Accounting, dan Pengungkapan Sustainability Report Terhadap Nilai Perusahaan. Jurnal Ekonomi Bisnis, Manajemen dan Akuntansi (Jebma), 3(3), 527–539. https://doi.org/doi.org/jebma.v3n3.2799
  • Lestari, H. D., & Restuningdiah, N. (2021, April). The effect of green accounting implementation on the value of mining and agricultural companies in Indonesia. In 7th Regional Accounting Conference (KRA 2020) (pp. 216-223). Atlantis Press. https://doi.org/10.2991/aebmr.k.210416.028
  • Lindawati, A. S. L., Geraldine, T. G., Handoko, B. L., Widuri, R., & Mustapha, M. (2023). Analysis Of Sustainability Performance, Green Accounting and Esg Disclosure on Firm Valuation. International Journal of Contemporary Accounting, 5(2), 183–198. https://doi.org/10.25105/ijca.v5i2.17745
  • Lita, A. N., Mursidi, M., & Fitriasari, F. (2022). The Effect of Financial Performance on Company Value Moderated by Dividend Policy. Jamanika (Jurnal Manajemen Bisnis Dan Kewirausahaan), 2(04), 324–331. https://doi.org/10.22219/jamanika.v2i04.22754
  • Marantika, A. (2012). Nilai Perusahaan (Firm Value): Konsep dan Implikasi (1st ed.). Anugrah Utama Raharja. www.aura-publishing.com
  • Melvani, G. P., & Arsjah, R. J. (2025). Pengaruh Green Accounting, Intellectual Capital dan Pengungkapan Lingkungan terhadap Nilai Perusahaan. JAFM: Journal of Accounting and Finance Management, 5(6), 1811–1821. https://doi.org/10.38035/jafm.v5i6
  • Muqorobin, M. M., & Simamora, A. J. (2025). Effect of Environmental Performance on Firm Value in Indonesian Stock Exchange: Intervening Role of Profitability. Journal of Trends Economics and Accounting Research, 5(4), 507–515. https://doi.org/10.47065/jtear.v5i4.1925
  • Oktadewi, A. M. A., & Diantini, N. N. A. (2025). ESG and firm value: The moderating role of environmental performance and profitability in Indonesia’s mining sector. International Research Journal of Management, IT and Social Sciences, 12(4), 217–229. https://doi.org/10.21744/irjmis.v12n4.2536
  • Patima, M. Helmi, S., & Rusmita, S. (2024). Effect of Environmental Accounting on Firm Value with Profitability as an Intervening Variable. International Journal of Economics, Business and Management Research, 08(09), 230–244. https://doi.org/10.51505/ijebmr.2024.8914
  • Peraturan Otoritas Jasa Keuangan Nomor 51/POJK.03/2017 tentang Penerapan Keuangan Berkelanjutan Bagi Lembaga Jasa Keuangan, Emiten, dan Perusahaan Publik, Pub. L. 51, Otoritas Jasa Keuangan 1 (2017).
  • Pramono, H., & Rohman, A. (2023). The Role of Environmental Performance to Strengthen Firm Values to Financial Performance. Kompartemen Jurnal Ilmiah Akuntansi, 21(2), 188. https://doi.org/10.30595/kompartemen.v21i2.17445
  • Priharta, A., Tantri, M., Gani, N. A., & Darto, D. (2023). Profitabilitas Dan Likuiditas: Pengaruhnya Terhadap Nilai Perusahaan. Jabe (Journal of Applied Business and Economic), 9(3), 257. https://doi.org/10.30998/jabe.v9i3.12923
  • Pucheta‐Martínez, M. C., Álvarez, I. G., & Bel‐Oms, I. (2021). Corporate Social and Environmental Disclosure as a Sustainable Development Tool Provided by Board Sub‐committees: Do Women Directors Play a Relevant Moderating Role? Business Strategy and the Environment, 30(8), 3485–3501. https://doi.org/10.1002/bse.2815
  • Pustika, T. H., Hariyanto, D., & Safitri, H. (2022). The Effect of DER, Firm Size, and CR on PBV With ROE as an Intervening Variable. Jurnal Manajemen Bisnis, 13(2), 289–305. https://doi.org/10.18196/mb.v13i2.13922
  • Qureshi, M. A., Akbar, M., Akbar, A., & Poulová, P. (2021). Do ESG Endeavors Assist Firms in Achieving Superior Financial Performance? A Case of 100 Best Corporate Citizens. Sage Open, 11(2). https://doi.org/10.1177/21582440211021598
  • Rangkuti, M. H. B. (2023). Green Accounting in Enhancing Sustainability Report Disclosure. International Journal of Research and Review, 10(11), 483–489. https://doi.org/10.52403/ijrr.20231156
  • Ratmono, D., Mail, R., Cahyonowati, N., & Janie, D. N. A. (2024). The Role of Environmental Performance in Mediating the Relationship Between Green Accounting and Corporate Social Responsibility. Environmental Economics, 15(1), 46–55. https://doi.org/10.21511/ee.15(1).2024.04
  • Rosada, A. M., Riyansyah, K., Wasini, M., Khodijah, S., & Sisdianto, E. (2024). Analisis Penerapan Kinerja Keuangan, Kinerja Lingkungan dan Grean Accounting Terhadap Laporan Keuangan Perusahaan Manufaktur. Jurnal Media Akademik (JMA), 2(4), 3031–5220. https://doi.org/10.62281
  • Saeed, M. M., Mohammed, S. S., Kumari, M., & Pandey, G. (2024). The Impact of Corporate Environmental Reporting on the Financial Performance of Listed Manufacturing Firms in Ghana (Csr‐24‐2036). Corporate Social Responsibility and Environmental Management, 32(1), 1230–1244. https://doi.org/10.1002/csr.3015
  • Safira, F., & Widajantie, T. D. (2021). Pengaruh Profitabilitas, Ukuran Perusahaan, Leverage, dan Pengungkapan CSR Terhadap Nilai Perusahaan (Studi Empiris Perusahaan Manufaktur yang Terdaftar di BEI Tahun 2015-2019). Jurnal Ilmiah Ekonomi dan Bisnis, 14(1), 103–112. http://journal.stekom.ac.id/index.php/E-Bisnis
  • Sahyu, A., & Maharani, N. K. (2023). Pengaruh Profitabilitas, Solvabilitas, dan Aktivitas Terhadap Nilai Perusahaan. KOMITMEN: Jurnal Ilmiah Manajemen, 4(1), 260–271. https://doi.org/10.15575/jim.v4i1.24479
  • Saifun, M. S. (2019). Pengaruh NPL, LDR, ROA, NIM, dan CAR Terhadap Nilai Perusahaan (Studi Pada Bank Umum Konvensional yang Terdaftar di BEI Periode 2015-2017). Sarjana thesis, Universitas Brawijaya.
  • Santoso, V., & Handoko, J. (2023). Pengaruh Akuntansi Hijau dan Kinerja Lingkungan terhadap Kinerja Keuangan dengan Tanggung Jawab Sosial sebagai Pemediasi. Nominal Barometer Riset Akuntansi Dan Manajemen, 12(1), 84–101. https://doi.org/10.21831/nominal.v12i1.56571
  • Schaltegger, S., & Burritt, R. L. (2010). Sustainability Accounting for Companies: Catchphrase or Decision Support for Business Leaders? Journal of World Business, 45(4), 375–384. https://doi.org/10.1016/j.jwb.2009.08.002
  • Siregar, I. F., Rasyad, R., Onasis, D., & Hardi, H. (2025). Peran Profitabilitas Dalam Memediasi Hubungan Antara Green Accounting, Esg Dan Nilai Perusahaan Pada Perusahaan Pertambangan di Indonesia. Jurnal Akuntansi Kompetif, 8(1), 178-191. https://doi.org/10.35446/akuntansikompetif.v8i1.2038
  • Sitorus, R., Syahrizal, Winaktu, H., Febriyanti, R., & Mikkael, R. H. (2023). Analisa Performasi Terhadap Implementasi Pengelolaan Pelanggan Bisnis (Korporasi) Melalui Metode Balance Scorecard Pada Divisi Enterprise PT. Telkom Indonesia (Persero), Tbk. Journal of Economic, Business and Accounting (COSTING), 7(1), 13171323. https://doi.org/https://doi.org/10.31539/costing.v7i1.6388
  • SK Menteri Lingkungan Hidup/Kepala Badan Pengendalian Lingkungan Hidup RI Nomor 129 Tahun 2025 tentang Hasil Penilaian Peringkat Kinerja Perusahaan dalam Pengelolan Lingkungan Hidup Tahun 2023-2024, Pub. L. 129, Kementerian Lingkungan Hidup/Kepala Badan Pengendalian Lingkungan Hidup Republik Indonesia 1 (2025).
  • Spence, M. (1973). Job Market Signaling. The Quarterly Journal of Economics, 87(3), 355–374. https://doi.org/10.2307/1882010
  • Sreepriya, J., Suprabha, K. R., & Prasad, K. (2022). Does GRI Compliance Moderate the Impact of Sustainability Disclosure on Firm Value? Society and Business Review, 18(1), 152–174. https://doi.org/10.1108/sbr-06-2022-0172
  • Suchman, M. C. (1995). Managing Legitimacy: Strategic and Institutional Approaches. Academy of Management Review, 20(3), 571–610. https://doi.org/10.5465/amr.1995.9508080331
  • Surya, S. A., Yuniarti, R., & Pedi, R. (2023). Kinerja Lingkungan Terhadap Nilai Perusahaan Dimediasi Kinerja Keuangan. Jurnal Riset Akuntansi Dan Auditing, 10(2), 35–46. https://doi.org/10.55963/jraa.v10i2.536
  • Suryaningrum, R., & Ratnawati, J. (2024). Pengaruh Kinerja Lingkungan, Biaya Lingkungan, Kepemilikan Saham Publik, Green Accounting, dan Struktur Modal Terhadap Kinerja Keuangan. Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA), 8(1), 1270-1292. https://doi.org/10.31955/mea.v8i1.3848
  • Suryanti, Y. (2025, September 15). 5.476 Perusahaan dinilai Kinerja ketaatan lingkungan oleh KLH/BPLH Melalui PROPER. https://kemenlh.go.id/news/detail/5476-perusahaan-dinilai-kinerja-ketaatan-lingkungan-oleh-klhbplh-melalui-proper.
  • Tjoa, E. V., & Widianingsih, L. P. (2022). Green Accounting, Environmental Performance, and Profitability: Empirical Evidence on High Profile Industry in Indonesia. Research In Management and Accounting, 5(2), 93–105. https://doi.org/10.33508/rima.v5i2.4158
  • Triwacananingrum, W., & ’Alim, N. (2024). Green Accounting and Different Perspective of Financial Performance. El Muhasaba Jurnal Akuntansi (E-Journal), 15(2), 187–203. https://doi.org/10.18860/em.v15i2.26775
  • Utami, R. N. (2021). Analisis Pengaruh Rasio Bopo, Loan To Deposit Ratio, Dan Profitabilitas Terhadap Nilai Perusahaan (Studi Empiris Pada Perusahaan Perbankan Yang Terdaftar Di Bursa Efek Indonesia). Journal Competency of Business, 5(1), 106–117. https://doi.org/10.47200/jcob.v5i1.878
  • Wardhana, P. K. (2017). Pengaruh Biaya Lingkungan dan Kinerja Lingkungan Dalam Moderasi Pengaruh Profitabilitas Terhadap Nilai Perusahaan. Jurnal Akuntansi AKUNESA, 6(1). https://ejournal.unesa.ac.id/index.php/jurnal-akuntansi/article/view/24002
  • Widarjono, A. (2013). Ekonometrika: Pengantar dan Aplikasinya Disertai Panduan EViews (4th ed.). UPP STIM YKPN.
  • Widiatami, A. K., Jati, K. W., Astuti, D. P., & Nurkhin, A. (2023). The impact of green innovation and environmental reporting on corporate performance. IOP Conference Series: Earth and Environmental Science, 1248(1). https://doi.org/10.1088/1755-1315/1248/1/012014
  • Wijаyаnti, А., & Dondoan, G. A. (2022). Pengaruh Penerapan Green Accounting Dan Corporate Social Responsibility Terhadap Firm Value Dengan Kinerja Perusahaan Sebagai Variabel Intervening. Jurnal Akuntansi Manajerial (Managerial Accounting Journal), 7(1), 62–85. https://doi.org/10.52447/jam.v7i1.5977
  • Wooldridge, J. M. (2013). Introductory Econometrics A Modern Approach (J. Sabatino, Ed.; 15th ed.). South-Wsstern Cengage Learning.
  • Younis, N. M. M. (2023). Sustainability Reports and Their Impact on Firm Value: Evidence From Saudi Arabia. International Journal of Management and Sustainability, 12(2), 70–83. https://doi.org/10.18488/11.v12i2.3275
  • Yuvia, W., & Wijaya, H. (2023). Pengaruh Profitabilitas, Likuiditas, Dan Struktur Modal Terhadap Nilai Perusahaan. Jurnal Paradigma Akuntansi, 5(1), 491–501. https://doi.org/10.24912/jpa.v5i1.22435
  • Zelmiyanti, R., & Maula, A. (2023, December 20). Impact of Green Accounting Implementation on the Financial Performance of Consumer Goods Industry Company. https://doi.org/10.4108/eai.7-11-2023.2342292
  • Zuhri, S. (2022). Green accounting in Indonesia pathways to sustainable economic development. Journal of Economics and Business Letters, 2(1), 10–12. https://doi.org/10.55942/jebl.v2i1.282
  • Zulfiqar, N., Javid, S., Islam, M., Azhar, A., & Naveed, S. (2021). Value Relevance of Financial Reporting: In Pre IFRS, Post IFRS and Transition Regime. Journal of Independent Studies and Research Management Social Science and Economics, 19(2), 206–230. https://doi.org/10.31384/jisrmsse/2021.19.2.12

Author Biographies

Salis Ragil Wilujeng, Universitas Muhammadiyah Jakarta

Master of Accounting Program, Faculty of Economics and Business, Universitas Muhammadiyah Jakarta, Central Jakarta City, Special Capital Region of Jakarta, Indonesia

Dyarini, Universitas Muhammadiyah Jakarta

Master of Accounting Program, Faculty of Economics and Business, Universitas Muhammadiyah Jakarta, Central Jakarta City, Special Capital Region of Jakarta, Indonesia

License

Copyright (c) 2026 Salis Ragil Wilujeng, Dyarini

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

This is an open-access journal distributed under the Creative Commons Attribution 4.0 International License (CC BY 4.0), which permits unrestricted use, distribution, reproduction, and adaptation in any medium (even commercially), provided appropriate credit is given to the original author(s), a link to the license is provided, and any changes made are indicated. Authors retain copyright without restrictions and grant the journal the right of first publication as well as non-exclusive publishing rights for archiving, indexing, and scholarly dissemination.

Downloads

OJS UsageStats Plugin
Download data is not yet available.
Contrimetric

Recommended Articles