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All Journal Signifikan : Jurnal Ilmu Ekonomi ETIKONOMI Journal of Accounting and Investment Jurnal Kajian Akuntansi ACCRUALS (Accounting Research Journal of Sutaatmadja) Proceeding of National Conference on Accounting & Finance Jurnal Pasar Modal dan Bisnis TSARWATICA (Islamic Economic, Accounting, and Management Journal) Business Review and Case Studies Amal: Jurnal Ekonomi Syariah JABI (Journal of Accounting and Business Issues) DIMENSIA (Diskursus Ilmu Manajemen STIESA) Seminar Nasional Pariwisata dan Kewirausahaan (SNPK) Gapura (Garba Pembangunan Masyarakat)
Nunik Nurmalasari
Sekolah Tinggi Ilmu Ekonomi Sutaatmadja
Religion Agriculture, Biological Sciences & Forestry Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice Social Sciences Other

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THE IMPACT OF GREEN BANKING IMPLEMENTATION ON COMPANY VALUE WITH FINANCIAL PERFORMANCE AS A MEDIATOR (A Study on Islamic Commercial Banks Registered with the Financial Services Authority for the Period 2022-2024) Nunik Nurmalasari; Erika Dahlia; Tigin Lugiani; Jojo Jojo
TSARWATICA (Islamic Economic, Accounting, and Management Journal) Vol. 8 No. 01 (2026): Juli
Publisher : STIESA Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35310/tsarwatica.v8i01.1749

Abstract

This study examines the effect of green banking on firm value in Islamic Commercial Banks in Indonesia during the 2022–2024 period, with financial performance as a mediating variable. Guided by legitimacy, stakeholder, and signaling theories, the study employs a quantitative approach using panel data regression. Green Banking is measured by the Green Banking Disclosure Index (GBDI), Firm Value by Tobin’s Q, Financial Performance by Return on Assets (ROA), and Company Size by the natural logarithm of total assets as a control variable. The findings indicate that green banking has a negative effect on financial performance but a positive effect on firm value. Financial performance does not significantly influence firm value and is not proven to mediate the relationship. These results suggest that green banking enhances firm value primarily through improved reputation and social legitimacy rather than financial performance.
THE ROLE OF PROFITABILITY IN MEDIATING THE RELATIONSHIP BETWEEN GREEN INVESTMENT AND COMPANY VALUE Nunik Nurmalasari
ACCRUALS (Accounting Research Journal of Sutaatmadja) Vol. 10 No. 02 (2026): Accruals Edisi September 2026
Publisher : Sekolah Tinggi Ilmu Ekonomi Sutaatmadja

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35310/accruals.v10i02.1729

Abstract

This research is based on the application of green investment in a company. This study aims to analyze the role of profitability as a mediator in the relationship between green investment and firm value. This study proxies green investment with the ratio of green-firm investment divided by asset value, firm value with Tobin's Q, and profitability with return on assets (ROA). The research population includes PROPER awardee companies on the IDX during the 2019-2023 period. The sample was selected using purposive sampling technique, resulting in 32 companies from various sectors, namely basic materials, consumer non cyclicals, industrials, healthcare, energy, consumer cyclicals, and infrastructure. Data analysis was carried out with panel data regression as well as classical assumption tests, t tests, Sobel tests, and difference tests using Eviews 9 software. This study found that green investment has a positive effect on profitability, but both have a negative impact on firm value. Profitability is proven to mediate the relationship between green investment and firm value. There is no significant difference in green investment between the pandemic and post-pandemic periods. The unique findings suggest that high profitability and assets do not always increase firm value, as they may be accompanied by high debt or suboptimal cash management. The implications of this finding emphasize the importance of green investment as a long-term strategy to support competitive advantage and improve overall firm performance.
Co-Authors Afifah Zahrol Hayat Ahmad Arif Zulfikar Ai Nurhasanah Apriandi, Devy Widya Arizal Hamizar Asep Solihin Audina, Revina Nita Beby Aryanti Berto Berto Bismantara Bismantara Bismantara E Wityasminigsih E Wityasminingsih E. Wityasminingsih, E. Wityasminingsih Erika Dahlia Erny Wityasminingsih Estu Widarwati Estu Widarwati Estu Widarwati Estu Widarwati Gugyh Susandy Hana Afifah Fauziah Holle, Mohammad. H Indra Maulana Inggrit Rahma Vinezha Intan Maharrani Ivan Yusriful Fajar Jashinta Efril Jojo Jojo Jojo Jojo Kuncorosidi, Kuncorosidi Lulu Noviawati Melia Santi Moeljono Mutqi Sopiawadi Nabila Nur Rohmah Nabilla Nur Rohmah Nanda Arif Wicaksana Nugraha, Muhamad Mugi Nurul Hamidah Pindy Kurnia Virda Pipit Rengganis Pupung Purnamasari Rahmah, Nur Fika Aulia Rd.Syeiren Christalia Nata Rahmat Regina Zahra Kirana Rizki Fadilah Rohmah, Nabila Nur Shinta Qurrota Aini Soni Karmila Sri Dwi Kania Sri Mulyani Tigin Lugiani Tigin Lugiani Wiwin Maysaroh Zorafiyan, Devran Firmansyah