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Efektivitas Manajemen Risiko Perusahaan Terhadap Kinerja Keuangan dan Nilai Perusahaan : Peran Moderasi Tanggung Jawab Lingkungan Perusahaan (TJL) Arinda Herliana; Rita Wijayanti
El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam Vol. 6 No. 2 (2025): El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/elmal.v6i2.6993

Abstract

This study aims to determine the effect or effectiveness of Corporate Risk Management on the financial performance and value of the company : Corporate Environmental Responsibility (CSR). The population of this study is manufacturing companies in Indonesia. This research sample uses data collection this research uses secondary data information obtained from 162 environmentally sensitive companies in Indonesia that publish financial reports and sustainability reports for the period 2022 and 2023. The results of this study showed that ERM / risk management has a positive influence on the value of the company, the company's Environmental Responsibility has a positive influence on the value of the company, environmental responsibility managed to moderate the positive influence of risk management on the value of the company. This study has a contribution in identifying the influence of risk management as an independent variable on the financial performance and value of the company which is assisted by the variable moderation of corporate environmental responsibility (TJL).
Environmental Responsibility, Innovation, and Firm Value: A Study of Environmentally Sensitive Industries Wijayanti, Rita; Lintang Kurniawati; Arinda Herliana; Nadilla Nur Azizah
E-Jurnal Akuntansi Vol. 35 No. 3 (2026)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Udayana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24843/EJA.2026.v36.i03.p03

Abstract

This study aims to analyze the effect of corporate environmental responsibility on firm value, with corporate innovation as a mediating variable, in environmentally sensitive industries in Indonesia. The study uses a sample of 205 companies listed on the Indonesia Stock Exchange during the 2021–2023 period, covering the mining, energy, chemical, and pulp and paper sectors, which are characterized by high environmental risk and strong regulatory pressure. Corporate environmental responsibility is measured using a multidimensional index that includes legal awareness, social evaluation, environmentally friendly production, low-carbon technology, and green management. The results show that corporate environmental responsibility has a positive and significant effect on firm value. In addition, corporate innovation is found to partially mediate this relationship, indicating its role as a mechanism that transforms environmental commitment into long-term economic value. These findings conclude that the integration of environmental responsibility and innovation is a key strategy for enhancing competitiveness and creating sustainable firm value.
Efektivitas Manajemen Risiko Perusahaan Terhadap Kinerja Keuangan dan Nilai Perusahaan : Peran Moderasi Tanggung Jawab Lingkungan Perusahaan (TJL) Arinda Herliana; Rita Wijayanti
El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam Vol. 6 No. 2 (2025): El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/elmal.v6i2.6993

Abstract

This study aims to determine the effect or effectiveness of Corporate Risk Management on the financial performance and value of the company : Corporate Environmental Responsibility (CSR). The population of this study is manufacturing companies in Indonesia. This research sample uses data collection this research uses secondary data information obtained from 162 environmentally sensitive companies in Indonesia that publish financial reports and sustainability reports for the period 2022 and 2023. The results of this study showed that ERM / risk management has a positive influence on the value of the company, the company's Environmental Responsibility has a positive influence on the value of the company, environmental responsibility managed to moderate the positive influence of risk management on the value of the company. This study has a contribution in identifying the influence of risk management as an independent variable on the financial performance and value of the company which is assisted by the variable moderation of corporate environmental responsibility (TJL).