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Journal : BAKI (Berkala Akuntansi dan Keuangan Indonesia)

MEDIA EXPOSURE AS A GAME CHANGER: PANEL DATA ANALYSIS OF SUSTAINABILITY IMPACT ON FIRM VALUATION Vanisa Ratna Sari; Hanifah, Umi; Suhatmi, Erna Chotidjah
Berkala Akuntansi dan Keuangan Indonesia Vol. 10 No. 2 (2025): Berkala Akuntansi dan Keuangan Indonesia
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/baki.v10i2.74142

Abstract

This study analyzes the impact of Carbon Emission Disclosure (CED), Carbon Performance (CP), and Green Intellectual Capital (GIC) on firm value, with Media Exposure (ME) acting as a moderating variable. The research focuses on energy companies listed on the Indonesia Stock Exchange (IDX) during the 2021-2024 period. Using panel data analysis, the Random Effect Model (REM) was identified as the most appropriate model after conducting Chow, Hausman, and Lagrange Multiplier tests, as well as classical assumption tests (normality, multicollinearity, heteroscedasticity, and autocorrelation). The findings indicate that CED, CP, and GIC significantly influence firm value. However, Moderated Regression Analysis (MRA) revealed that ME only moderates the relationship between GIC and firm value, failing to moderate the effects of CED and CP. This suggests that media coverage concerning a company's green innovations and sustainability practices effectively enhances investor visibility and understanding of intangible assets, thereby contributing to positive perception and increased confidence.
Co-Authors A'imah, Syarifatul Ab. Aziz Bin Sulaiman Abd. Azis, Abd. Abdul Wahab Naf'an Abdullah, Moh Abdurrahman, Zahron Affandi, Johan  Agus Suyatno Ahmad Zeid Ardiansyah Al Fayyadh, Moh. Alallah, Ikhlasul Amal Ali Mudlofir Amelia Putri, Friska Amelia Putri Andi Taufan Anggie Maulidia Aprilianti Pratiwi Ardiansyah, Ahmad Zeid Arifah, Tri Hanum Arsiva Alifia Gati Asyiqin, Nor' Aulia Agustin Barid, Bintan Nuruzzakiyah Bayu Tri Cahya Bintan Nuruzzakiyah Barid Binti Adam, Zalika Chusna, Ufiq Ashfiyatul Devi Sulistyaningrum Dhea , Ayu Resky Dian Nurkholiza Putri Doddy A. Darmajana Eka Kurnia Patmasari Erimson Siregar Ety Meikhati Faiqoh Fajar Juliantono fauziyah, luqi Feriansyah Sesunan Firdaus, Ahmad Yanif Firdaus, Nida Anisah Friska Amelia Putri Gita Diah Prasasti Habibah, Muzayyidatul Hairani Hairani Haji Abdullah, Hajah Rafidah binti Hamid, Alif Alvian Mawaddi Hidayah Almubarokah, Nurul Hidayah, Muhfidatul Winda Winda Hisbullah Huda HUSNUL ABDI I Ketut Budayasa Ida Miftakhul Jannah Ilzam, Ahmadur Inayah, Ine Inayah Intan Safitri, Intan Jannah, Ulfiyatul Jauharoh, Titin Joharman Joharman Kamal Yusuf KHOIRUL ANAM Khoirun Nisa Alwachidah Lestari, Retna Dewi Luddin, Jalal Maharani, Nadila Putri mahmudi, imam Maisyanah Maisyanah, Maisyanah Makarima, Naeli Mar'atus Sholikah Masturi Masturi Mawaddah, Abdilah Lina Afifah Meila Weeke Alfulana Mhd Zakiul Fikri Miranti, Liana Mohammad Thoha Mufidah, Nur Muflihah Muflihah Muflihah Muhammad Khafid Muhammad Thohir Mukaromah, Ning Mukhoiyaroh, Mukhoiyaroh Nadiroh, Umi Natasia, Bella Nerra Nur Elvandari Niesa Hanum Mistoro Ningsih, Ayu Widya Nok Afifah Novemy Triyandari Nugroho Novrinaldi Novrinaldi Nurul Islamiyah Nurul Safitri Nurvianti, Nurvianti Pranawa, Rahmat Dandan Puji Alawiyah Putri Intan Prastiwi Putri, Retno Karunia RADEN SULAIMAN Rahajeng Risma Rahmat Dandan Pranawa Rangga Firdaus Ratih Paramitasari, Ratih Ratna Hidayah Restuti, Dwi Putri Retna Dewi Lestari Ria Yunitasari Rifki Baskara Kuncorojati Risma Kartika Rohmawati, Anis Nur Diah Safitri, Zuliyah Salsabilla, Nurhanifah Sari, Dita Apriliana SEPTIAN DWI CAHYO Siti Julaikha Siwi, Puput Ranu Suhartono Suhartono Suhatmi, Erna Chotidjah Sujanah, Inu Sulfiatin, Sulfiatin Syafi’I Syafi’i Syafi’i Syafi’i, Syafi’i Taufikur Rohman Thohir, Mohamad Ulfida Aisya Laishela Utomo Hadibroto, Joko Vanisa Ratna Sari Wahyuningsih, Rita Wayan Suana Widiyani, Tri Purna Windi Shilvia Puspitasari Wulandari, Inayah Yuyun - Widyawati Zainal Abidin Hajib Zam Ani, Ahmad Faisal Zelania In Haryanto