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Journal : Jurnal Keuangan dan Bisnis

CARBON EMISSION DISCLOSURE, GREEN INNOVATION, STAKEHOLDER PRESSURE, ISO 14001, DAN GCG TERHADAP NILAI PERUSAHAAN Sari, Nur Mala; Indriasih, Dewi; Firmansyah, Fahmi
Jurnal Keuangan dan Bisnis Vol. 23 No. 2 (2025): Jurnal Keuangan Dan Bisnis Volume 23, Number 2, Oktober 2025
Publisher : Catholic University Musi Charitas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32524/jkb.v23i2.1545

Abstract

Purpose: This study examines the effects of carbon emission disclosure, green innovation, stakeholder pressure, and ISO 14001 certification on firm value, with good corporate governance as a moderating variable in energy companies listed on the Indonesia Stock Exchange (IDX) from 2020 to 2024. Design/Methodology/Approach: A quantitative approach was applied using secondary data from 45 purposively selected firms, totaling 225 firm-year observations. Data were analyzed using multiple linear regression and moderated regression analysis (MRA) with IBM SPSS 22. Findings: Carbon emission disclosure and ISO 14001 certification positively affect firm value, while green innovation and stakeholder pressure show no significant impact. Good corporate governance weakens the effects of all four variables on firm value. Practical Implications: Companies should strengthen governance and environmental transparency to enhance corporate value and credibility. Originality/Value: This study contributes to sustainability and governance research by evidencing the weakening moderating role of good corporate governance in Indonesia’s energy sector.