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All Journal Dinamika Akuntansi Keuangan dan Perbankan Jurnal Ilmiah Akuntansi dan Bisnis
Chen Kelvin
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Economics, Econometrics & Finance

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PENGUNGKAPAN EMISI KARBON SEBAGAI MEKANISME PENINGKATAN KINERJA UNTUK MENCIPTAKAN NILAI PERUSAHAAN Chen Kelvin; Fransiskus E. Daromes; Suwandi Ng
Dinamika Akuntansi Keuangan dan Perbankan Vol 6 No 1 (2017): VOL. 6 NO. 1 2017
Publisher : Faculty of Economic and Business Universitas STIKUBANK

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (230.353 KB)

Abstract

The purpose of this research was to investigate the effect of carbon emissions disclosure on financial performance, operational performance and cost of equity, the influence of financial performance, operational performance, and cost of equity on firm value, and to investigate the effect of carbon emissions disclosure on firm value mediated by financial performance, operational performance, and cost of equity. Population used is the whole company public listed in Indonesia Stock Exchange period 2013- 2015. Number of samples are 86 firms each year, was selected by purposive sampling method and using secondary data, i.e. the annual report. The analytical method used is path analysis and hypothesis mediation analysed by using Sobel test. The result of analysis show that carbon emissions disclosure have positive and significant effect on financial performance, operational performance and cost of equity. While financial performancebhave positive but not significant effect on firm value, operational performance have positive and significant effect onfirm value, and cost of equityhave negative and significant effect on firm value. This research also shows that the operational performance and cost of equity plays a role in mediating carbon emissions disclosure on firm value, while financial performance do not mediate the effect of carbon emissions disclosure on firm value. The implication is the firms should pay more attention to the company's relationship with the surrounding environment so that the company's image can be improved because the firm’s sustainability are not only determined by the level of profitability, but also they have to combine economic performance, the concentration of social justice, and responsibility towards environmental sustainability. Keywords: carbon emissions disclosure, financial performance, operational   performance, cost of equity and firm value
MEKANISME PENGUNGKAPAN EMISI KARBON DAN REAKSI INVESTOR Chen Kelvin; Oktavianus Pasoloran; Fransiskus Randa
Jurnal Ilmiah Akuntansi dan Bisnis Vol 14 No 2 (2019)
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Udayana bekerjasama dengan Ikatan Sarjana Ekonomi Cabang Bali

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (132.214 KB) | DOI: 10.24843/JIAB.2019.v14.i02.p02

Abstract

This research aims to investigate the role of carbon emission disclosure as a mechanism to improve investors' reaction to abnormal stock returns mediated by cost of equity. The samples used in this study were non-financial companies listed on the Indonesia Stock Exchange from 2013 to 2017. There were 122 companies with 610 observations. The samples were selected using the purposive sampling method. By using the path analysis method, the results show that carbon emission disclosure has a negative relationship with the cost of equity, carbon emission disclosure has a positive relationship with abnormal stock return, while the cost of equity has a negative and significant relationship with abnormal stock return. Additionally, the results obtained using the Sobel test show that the cost of equity plays a role in mediating the relationship between carbon emission disclosure and abnormal stock returns. Keywords: carbon emission disclosure; cost of equity; abnormal stock returns
Co-Authors Fransiskus Eduardus Daromes Fransiskus Randa OKTAVIANUS PASOLORAN Suwandi Ng