Email this article 
Hide
Show all
The Determinants of Company Value: Green Accounting, CSR, and Profitability
Abstract
The purpose of this study is to investigate the relationship between green accounting, corporate social responsibility (CSR), profitability, and firm value. This is a quantitative by utilizing a sample of manufacturing companies listed on the Indonesia Stock Exchange. The findings indicate that the implementation of green accounting and CSR disclosure has a positive impact on both profitability and firm value. This study also revealed that profitability has a positive influence on firm value but it does not mediate the impact of green accounting and CSR on firm value. This study suggest that the green accounting and CSR can serve as reliable sources to assess a company's performance in fulfilling its environmental and social responsibilities while complying with relevant laws and regulations
Full Text:
PDFReferences
Alam, S. M. S., & Islam, K. M. Z. (2021). Examining the role of environmental corporate social responsibility in building green corporate image and green competitive advantage. International Journal of Corporate Social Responsibility, 6(1). https://doi.org/10.1186/s40991-021-00062-w
Ali, H. Y., Danish, R. Q., & Asrar-ul-Haq, M. (2019). How corporate social responsibility boosts firm financial performance: The mediating role of corporate image and customer satisfaction. Wiley: Corporate Social Responsibility and Environmental Management, 27(1), 166–177.
Andries, P., & Stephan, U. (2019). Environmental innovation and firm performance: How firm size and motives matter. Sustainability (Switzerland), 11(13), 1–17. https://doi.org/10.3390/su11133585
Angelia, D., & Suryaningsih, R. (2015). The Effect of Environmental Performance And Corporate Social Responsibility Disclosure Towards Financial Performance (Case Study to Manufacture, Infrastructure, And Service Companies That Listed At Indonesia Stock Exchange). Procedia - Social and Behavioral Sciences, 211(September), 348–355. https://doi.org/10.1016/j.sbspro.2015.11.045
Arief, M. (2020). Mediasi Profitabilitas Dalam Menilai Hubungan Antara Manajemen Modal Kerja dan Nilai Perusahaan. AFRE Accounting and Financial Review, 3(2), 126–135.
Ayem, S., & Nugroho, R. (2016). Pengaruh Profitabilitas, Struktur Modal, Kebijakan Deviden, dan Keputusan Investasi Terhadap Nilai Perusahaan (Studi Kasus Perusahaan Manufaktur Yang Go Publik di Bursa Efek Indonesia) PERIODE 2010 - 2014. Jurnal Akuntansi, 4(1), 31–39. https://doi.org/10.24964/ja.v4i1.125
Ayu, D. P., & Suarjaya, A. A. G. (2017). Pengaruh Profitabiltas Terhadap Nilai Perusahaan Dengan Corporate Social Responbility Sebagai Variabel Mediasi Pada Perusahaan Pertambangan Fakultas Ekonomi dan Bisnis Universitas Udayana Bali. E-Jurnal Manajemen Unud, 6(2), 1112–1138.
Bakhtiar, H. A., Nurlaela, S., & Hendra, K. (2020). Kepemilikan Manajerial, Kepemilikan Institusional, Komisaris Independen, Komite Audit dan Nilai Perusahaan. AFRE Accounting and Financial Review, 3(2), 136–142.
Brigham, E. F., & Houston, J. F. (2018). Dasar-dasar manajemen keuangan (Edisi 14). Salemba Empat.
Buric, M. N., Stojanovic, A. J., Filipovic, A. L., & Kascelan, L. (2022). Research of Attitudes toward Implementation of Green Accounting in Tourism Industry in Montenegro-Practices, and Challenges. Sustainability (Switzerland), 14(3). https://doi.org/10.3390/su14031725
Chen, R. C. Y., & Lee, C. H. (2017). The influence of CSR on firm value: an application of panel smooth transition regression on Taiwan. Applied Economics, 49(34), 3422–3434. https://doi.org/10.1080/00036846.2016.1262516
Cho, C. H., & Patten, D. M. (2013). Green accounting: Reflections from a CSR and environmental disclosure perspective. Critical Perspectives on Accounting, 24(6), 443–447. https://doi.org/10.1016/j.cpa.2013.04.003
Dewi, P. P., & Narayana, I. P. E. (2020). Implementasi Green Accounting, Profitabilitas dan Corporate Social Responsibility pada Nilai Perusahaan. E-Jurnal Akuntansi, 30(12), 3252. https://doi.org/10.24843/eja.2020.v30.i12.p20
Dianawati, C. P., & Fuadati, S. R. (2016). Pengaruh CSR Dan GCG Terhadap Nilai Perusahaan: Profitabilitas Sebagai Variabel Intervening. Jurnal Ilmu Dan Riset Manajemen, 5(1), 1–20.
Endiana, I. D. M., Dicriyani, N. L. G. M., Adiyadnya, M. S. P., & Putra, I. P. M. J. S. (2020). The Effect of Green Accounting on Corporate Sustainability and Financial Performance. Journal of Asian Finance, Economics and Business, 7(12), 731–738. https://doi.org/10.13106/jafeb.2020.vol7.no12.731
Ezeagba, C. E., Rachael, J.-A. C., & Chiamaka, U. (2017). Environmental Accounting Disclosures and Financial Performance: A Study of selected Food and Beverage Companies in Nigeria (2006-2015). International Journal of Academic Research in Business and Social Sciences, 7(9), 162–174. https://doi.org/10.6007/ijarbss/v7-i9/3315
Hafez, H. (2016). Corporate social responsibility and firm value: an empirical study of an emerging economy. Journal of Governance and Regulation, 5(4), 40–53. https://doi.org/10.22495/jgr_v5_i4_p3
Hamdani. (2016). Good Corporate governance: tinjauan etika dalam praktik bisnis. Mitra Wacana Media.
Harmono. (2014). Manajemen Keuangan Berbasis Balanced Scorecard (Pendekatan Teori, Kasus, dan Riset Bisnis) (Ketiga). Bumi Aksara.
Harmono, H., Haryanto, S., Chandrarin, G., & Assih, P. (2023). Financial Performance and Ownership Structure: Influence on Firm Value Through Leverage. 33, 63–85. https://doi.org/10.1108/s1571-03862023000033b005
Haryanto, S., Rahadian, N., Mbapa, M. F. I., Rahayu, E. N., & Febriyanti, K. V. (2018). Kebijakan Hutang, Ukuran Perusahaan dan Kinerja Keuangan Terhadap Nilai Perusahaan: Industri Perbankan di Indonesia. AFRE (Accounting and Financial Review), 1(2), 62–70. https://doi.org/10.26905/afr.v1i2.2279
Ikhsan, A. (2008). Akuntansi Lingkungan dan Pengungkapannya (Duabelas). Graha Ilmu.
Kasmir. (2018). Analisa Laporan Keuangan. Raja Grafindo Persada.
Katadata. (2019). Biaya Penambangan Naik, Laba Bersih Indo Tambangraya Anjlok 31%.
Khairiyani, K., Mubyarto, N., Mutia, A., Zahara, A. E., & Habibah, G. W. I. A. (2019). Kinerja Lingkungan Terhadap Kinerja Keuangan Serta Implikasinya Terhadap Nilai Perusahaan. Iltizam Journal of Shariah Economic Research, 3(1), 41.
Kusumaningtias, R. (2013). Green Accounting, Mengapa dan Bagaimana? Akuntansi Dan Keuangan, 7(2), 978–979.
Liberty, & Nor, H. (2011). Corporate Social Responsibility. Graha Ilmu.
Mardikanto, T. (2014). CSR Corporate Social Responsibility tanggung jawab. Alfabeta.
Masitoh, D., Suprijanto, P. D. P., & A. (2018). Pengaruh Corporate Social Responsibility, Debt To Equity Ratio Terhadap Nilai Perusahaan Dengan Profitabilitas Sebagai Variabel Intervening (Studi Empiris pada Perusahaan Manufaktur Sektor Pertambangan di Bursa Efek Indonesia Periode Tahun 2011-2017). Journal Of Accounting, 4(4), 1–13.
Mayer, C. (2023). Reflections on corporate purpose and performance. European Management Review, 719–724. https://doi.org/10.1111/emre.12626
Mendra, N. P. Y., Saitri, P. W., & Mariyatni, N. P. . (2021). Good Corporate Governance, Corporate Social Responsibility, And Sustainability Report To Firm Value. InternationalJournal of Environmental, Sustainability, and Social Science, 2(1), 17–21.
Mowen, T. J., & Visher, C. A. (2016). Changing the ties that bind: How incarceration impacts family relationships mowen and visher incarceration and family relationships. Criminology and Public Policy, 15(2), 503–528. https://doi.org/10.1111/1745-9133.12207
Munawir. (2014). Analisa laporan keuangan / S. Munawir. Liberty Yogyakarta.
Nahda, K., & Harjito, D. A. (2011). Pengaruh corporate social responsibility (csr) terhadap nilai perusahaan dengan corporate governance sebagai variabel mediasi. Fair Value: Jurnal Ilmiah Akuntansi Dan Keuangan, 4(11), 5124–5131. https://doi.org/10.32670/fairvalue.v4i11.1797
Nurkhin, A. (2009). Corporate Governance Dan Profitabilitas ; Pengaruhnya Terhadap Pengungkapan Tanggung Jawab Sosial Perusahaan ( Studi Empiris Pada Perusahaan Yang Tercatat Di Bursa Efek Indonesia ) Program Pascasarjana Universitas Diponegoro Tahun 2009 Lembar Pengesahan. January.
Omran, M. A., & Ramdhony, D. (2015). Theoretical Perspectives on Corporate Social Responsibility Disclosure: A Critical Review. International Journal of Accounting and Financial Reporting, 5(2), 38. https://doi.org/10.5296/ijafr.v5i2.8035
Pantamee, A. A. (2019). Impact of Green Accounting on Company Value: Evidence from the Nigerian Companies. Arthatama Journal of Business Management and Accounting, 3(1), 16–26.
Pratiwi, N., & Rahayu, Y. (2018). Pengaruh Penerapan Green Accounting Terhadap Pertumbuhan Harga Saham Dengan Profitabilitas Sebagai Variabel Moderating. Jurnal Ilmu Dan Riset Akuntansi, 7(8), 1–15.
Prihatiningtias, Y. W., & Damayanti, N. (2014). Corporate Social Responsibility Disclosure and Firm Financial Performance in. Paper Knowledge . Toward a Media History of Documents, 5(2), 40–51.
Rahayu, M. B. (2020). Pengaruh Profitabilitas Terhadap Struktur Keuangan. Jurnal Studi Manajemen Dan Bisnis, 5(2), 75–79. https://doi.org/10.21107/jsmb.v5i2.6656
Raja, K. (2021). Raja , K ., R . Anandham and K . Sivasubramaniam . 2019 . Seed and seedling vigour improvement through seed infusion with liquid microbial consortia in sorghum ( Sorghum bicolor ( L .) Moen ... Seed and seedling vigour improvement through seed infusion wi. May.
Risal, T., Lubis, N., & Argatha, V. (2020). Implementasi Green Accounting Terhadap Profitabilitas Perusahaan. Accumulated Journal, 2(1), 73–85.
Riyadh, H. A., Al-Shmam, M. A., Huang, H. H., Gunawan, B., & Alfaiza, S. A. (2020). The analysis of green accounting cost impact on corporations financial performance. International Journal of Energy Economics and Policy, 10(6), 421–426. https://doi.org/10.32479/ijeep.9238
Rosdwianti, M. K., & Dzulkirom AR, M. (2016). Pengaruh Corporate Social Responsibility (CSR) Terhadap Profitabilitas Perusahaan. Jurnal Administrasi Bisnis S1 Universitas Brawijaya, 38(2), 16–22.
Sabrin, Sarita, B., Syaifuddin, D. T. D., & Sujono. (2016). The Effect of Profitability on Firm Value in Manufacturing Company at Indonesia Stock Exchange. The International Journal Of Engineering And Science (IJES), 5(10), 81–89.
Sari, I. A. G. D. M. (2020). Profitability and liquidity on firm value and capital structure as intervening variable. International Research Journal of Management, IT and Social Sciences, 7(1), 116–127. https://doi.org/10.21744/irjmis.v7n1.828
Soliha, E., & Taswan. (2002). Pengaruh Kebijakan Hutang Terhadap Nilai Perusahaan Serta Beberapa Faktor Yang Mempengaruhinya. Jurnal Bisnis Dan Ekonomi, 2(9), 149–163.
Suhartini, D., & Megasyara, I. (2019). Pengaruh Corporate Social Responsibility Disclosure Terhadap Nilai Perusahaan Dengan Profitabilitas Sebagai Variabel Intervening Pada Perusahaan Sektor Pertambangan Yang Terdaftar Di Bursa Efek Indonesia Tahun 2012-2016. Equity: Jurnal EKonomi, Manajemen, Akuntansi, 21(2), 129.
Susila, M. P., & Prena, G. Das. (2019). Pengaruh Keputusan Pendanaan, Kebijakan Deviden, Profitabilitas Dan Corporate Social Responsibility Terhadap Nilai Perusahaan. Jurnal Akuntansi : Kajian Ilmiah Akuntansi (JAK), 6(1), 80. https://doi.org/10.30656/jak.v6i1.941
Tu, J. C., & Huang, H. S. (2015). Analysis on the relationship between green accounting and green design for enterprises. Sustainability (Switzerland), 7(5), 6264–6277. https://doi.org/10.3390/su7056264
Tunpornchai, W., & Hensawang, S. (2018). Effects of Corporate Social Responsibility and Corporate Governance on Firm Value: Empirical Evidences of the Listed Companies on the Stock Exchange of Thailand in the SET100. PSAKU International Journal of Interdisciplinary Research, 7(1), 161–170. https://doi.org/10.12778/235108618x15452373745956
Wangi, W. R., & Lestari, R. (2020). Pengaruh Penerapan Green Accounting terhadap Tingkat Profitabilitas Perusahaan. Prosiding Akuntansi, 6(1), 489–493.
Watto, W. A., Manurung, D. T. H., Saputra, K. A. K., & Mustafa, S. G. (2020). Corporate Social Responsibility and Firm Financial Performance: A Case of SME’s Sector in Pakistan. International Journal of Environmental, Sustainability, and Social Science, 1(2), 62–74. https://doi.org/10.38142/ijesss.v1i2.30
Westerfield, R. W., Ross, S. A., Jaffe, J., & Jordan, B. D. (2008). Modern Financial Management (8th ed.). McGraw-Hill/Irwin.
Wijaya, bayu I., & Sedana, I. B. panji. (2015). Pengaruh Profitabilitas Terhadap Nilai Perusahaan (Kebijakan Dividen Dan Kesempatan Investasi Sebagai Variabel Mediasi). E-Jurnal Manajemen Universitas Udayana, 4(12), 253308.
Wulandari, S. (2020). Pengaruh Corporate Social Responsibility (CSR) Disclosure terhadap Profitabilitas Perusahaan (Studi Empiris Pada Perusahaan Subsektorperkebunan Di Bursa Efekindonesia). Journal of Economic and Management, 19(37), 1–14.
Yulianty, R., & Nugrahanti, T. P. (2020). Pengaruh Sustainability Reporting Terhadap Nilai Perusahaan denga Kinerja Keuangan Sebagai Variabel Intervening. Jurnal Riset Perbankan Manajemen Dan Akuntansi, 4(1), 12–23.
Zuhroh, I. (2019). The Effects of Liquidity, Firm Size, and Profitability on the Firm Value with Mediating Leverage. KnE Social Sciences, 3(13), 203. https://doi.org/10.18502/kss.v3i13.4206
Zulhaimi, H. (2015). Pengaruh Penerapan Green Accounting Terhadap Kinerja Perusahaan. Jurnal Riset Akuntansi Dan Keuangan, 3, 603. https://doi.org/10.17509/jrak.v3i1.6607
DOI: https://doi.org/10.26905/afr.v6i1.9740
Refbacks
- There are currently no refbacks.
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
AFRE (Accounting and Financial Review) Postgraduate - University of Merdeka Malang Postgraduate Building, Terusan Dieng Street 62-64 | Other Link | Follow Us | |||||
| Site Home Journal Unmer Malang Postgraduate LPPM Library Repository |
|
AFRE (Accounting and Financial Review) |
