Pengaruh carbon emission disclosure, environmental performance, green innovation, green investment, board independence commissioners, dan financial performance terhadap nilai perusahaan sektor basic materials periode 2021-2024
DOI:
https://doi.org/10.26740/jim.v14n3.p647-665Keywords:
financial performance, firm value, good corporate governance, sustainabilityAbstract
Firm value represents the market value that investors are willing to pay as a form of capital investment and reflects external stakeholders’ perceptions of a company’s success in managing and operating its business activities. This study examines the effects of carbon emission disclosure, environmental performance, green innovation, green investment, board independence, commissioners, and financial performance on firm value in the basic materials sector during the 2021–2024 period. This research employs a causal research design with a quantitative approach. The sample was selected through purposive sampling, yielding 27 basic materials companies. By taking a research time span of 4 years, the final observation data amount to 108. Data were analyzed using panel data regression with STATA 17 as the analytical tool. The results indicate that carbon emission disclosure, environmental performance, green innovation, green investment, board independence, commissioners, and financial performance do not have a significant effect on firm value. These findings suggest that the market has not yet fully appreciated environmental aspects, governance mechanisms, and financial performance when they are considered separately and are not accompanied by high-quality implementation and clear economic benefits. Therefore, companies are encouraged to integrate sustainability disclosures and practices into their business strategies, operational efficiency, and measurable performance targets. In addition, the assessment of firm value should not rely solely on indicators such as return on assets (ROA) or the formal structure of board independence commissioners, but should also take into account future prospects, growth potential, and long-term impacts.
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