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SUSTAINABILITY PERFORMANCE, GREEN FINANCE AND FIRM VALUE: THE MODERATING EFFECT OF TAX PLANNING Melisa Fitrie; Ira Geraldina; Irawati
International Journal of Economic, Business, Accounting, Agriculture Management and Sharia Administration (IJEBAS) Vol. 6 No. 1 (2026): February
Publisher : CV. Radja Publika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.5281/zenodo.19347180

Abstract

This study examines whether tax planning moderates the effect of sustainability performance on firm value in companies listed on the Indonesia Stock Exchange during 2020–2024. Using panel data from 58 companies selected through purposive sampling, this research applies a quantitative approach with Moderated Regression Analysis (MRA). The findings show that sustainability performance has a significant negative effect on firm value, while green finance has no significant effect. In addition, tax planning does not moderate the relationship between sustainability performance and firm value, nor does it strengthen the effect of green finance on firm value. These results indicate that investors may not immediately perceive sustainability and green finance initiatives as value-enhancing, particularly when their short-term economic benefits remain unclear. The study contributes to the literature on corporate sustainability, tax planning, and firm value in emerging markets.
Co-Authors Abdul Kadir Jaelani Jaelani Abdul Mirad Abdurahman Abdus Salam, Abdus Adwa Syifa Aulia AFRIANDI Aguswan Aldi Alfat, Sayahdin Alia Khairah Dwi Ananda Alvinto, Bintang Alwi Alya Amelia Amir, Asnidar Amrianti Nur An'nisa Pratama Putri Ananda, Rima Andi Fauziah Astrid Andi Hilal Miftah Fauzan Andi Nurfadilla Andi Primafira B. Eka Andri Rusta Andriani, Rita Anggraini Anggraini ani, Inriani ANISAH Anjar Budi Astoro Ardiansyah Arlistria Muthmainnah Arman Artiasari, A. Atika Pratiwi Aulia Ayu Levia Tryana Baharuddin Baharuddin Bahdat Baso Amri Cahyono, Tomy Dwi Chahyani, Rani Chatarina Umbul Wahyuni Chikmah Dona Sunita Christianto, Leonardus Dahlan Lamabawa Dasa Ismaimuza Dea Fitri Rahmadani Desniati Dessy Mita Mariana Malau Devi Delawati Dewiyanti Dian Rahmayanti Rivai Dwi Herlinda Edy Purnomo Elfirza Rosiana Engel Hukunala Enny Radjab Erinaldi Erni Lubis Erwanda, Alifianisa Erwin Erwin Mardinata Fabanyo, Rizqi Alvian Faisalrahmat, Muh. Fajarwaty Kusumawardhani Fathurrahmad Fatma, Fatmawati Ferinaldi Fidella Irtza Nathania Fikri, Yudistia Teguh Ali Futri Ayu Wulandari Gaffar, Andi Widya Mufila Galih Maulana Azkiya Handoko, Tito Haruddin Hasan, Erzam S Hasri, Diah Anggeraini Hasri Hayyul Herdianti Darwis Herman Herry Imran Hilmi Nur Azizah Ihwana As’ad Ikhwan Ahmad Fiqqih Imam Ma’arif Imanuela Indah Pertiwi Intan Liana Iqbal, Firdaus Muhamad Ira Geraldina Irfan Suliansyah Irfan Yusuf Irfandi Rahman Ismail Saleh, Muhammad Jannatun Aliyah Junaidi Junaidi Jusman Jusman Kartikaningtias, Chinthia Katherine Kho Kelpin Mendonga Khairun Nisa Khix Natu Saleha Khusni Albar, Mawi Kistan Kistan La Ode Marhini Lembah Andriani Lilis Karlina Lilis Nur Hayati M. Oscar Magfirah, Magfirah Maliki, Budi Ilham Mardiana MARDIANA Mas'ud, Alfian Mas’ud, Alfian Maulid Adha, Wahyu Megat Norulazmi Megat Mohamed Noor Melisa Fitrie Mhd Fajri Mia Audina Moh rizal asry Yusuf Muammar Khaddafi Muh Asrul Muh. Aliyazid Mude Muh. Ashdaq Muh. Nur Muh. Rusdin Muh.Ilman Muhammad Fauzan Muhammad Nawab Alawi Muhammad Shaleh Murniati, Sarly Musni Nabilla Saputri Nadia Nabila Nasyilla Aulia Natsir Sandiah Ni Nyoman Wulan P. I Nidia Yulianda Nirwana Wulandari Novi Damayanti, Novi Novia Sandra Dewi Nur Alia Nur Ariyandani Nur Fitriayu Mandasari Nur Hafsah Nur Indriyani, Siwi Nur Qamariah Nurazizah nurpeni Nursyam Anwar NURUL HIKMAH Nurvia Dewi Pusvita Nurwandayani Olivia Putri Chairunnisa Puput Juliarna Syarif Puspitafuri, Cindy Rahma Rahayu Rahmad Zaki Rahmat Ghazali Rahmat Hidayat Rahmat Sewa Suraya Ramadhan, Muhammad Aryo Rani Sania Raudhotul Jannah Ravi Joentera Rayessandi Retnaningtyas, Erma Retno Palupi Yonni Siwi Reza Muhammad Rizqi Ria Febriana Riana Anggraeny Ridwan Rifda Ningsi Rifma Rika Arfiana Rikar Parenden Rinda Luftia Kaysa Rini Setyaningsih Riskiadi Riswandi Ritonga, Elda Nurmawan Rivai, Dian Rahmayanti Rival Ramadhan Rizal Zaki Ramadhan Rosalina Rosliana Eso Rosmiati Daya Rusli Ruslihardy Ryan Suarantalla Sabrifha, Eli Samsul Samsul Salam sari, sari susanti Saskia Wanda Audiya Satria Nugraha Septi Repiani Sibulo, Megawati Siti Fatimah Siti Helmyati Siwi Nur Indriyani Siwi Nur Indriyani Sri Rahcamawati Askar Sri Utami Permata Sri Yeni St. Malka sthefany idris Suci Lestari Sukur Sulkifli Sampeata Sulton, Aan Syam Rahadi Syamsudin Syamzaimar Taufiq Mathar Titin Wahyuni Batamba Trio Saputra Trio Saputra Ulhaq, Muhammad Dhiya Ulhaq Wahdaniah Wahyu Maulid Adha Widia Astuti Widya Khoirun Nisa Widyawati, Dewi Wigati Yektiningtyas Wilia Ismiyarti Wulan Ayuandiani Wulandari, Futri Ayu Yahya Yosita Sipapa’ Yudi Agusman Yumriani YUNUS Yusuf Y.S, Muhammad yusuf, Febrianti Zahra Nabila Sukmana Zaskia Adella Ramadhani Zulaika, Amanda