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All Journal Majapahit Journal of Islamic Finance dan Management Majapahit Journal of Islamic Finance dan Management
Wati, Afifah Rachma
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Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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Leverage, Profitability, Environmental Performance, ISO 14001 Certification, and Public Ownership of Environmental Disclosure Wati, Afifah Rachma; Kusumawati, Eny
Majapahit Journal of Islamic Finance and Management Vol. 5 No. 1 (2025): Islamic Finance and Management
Publisher : Department of Sharia Economics Institut Pesantren KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v5i1.379

Abstract

This study analyzes the influence of leverage, profitability, ISO 14001 certification, environmental performance, and public ownership on environmental disclosure among non-financial companies listed on the Indonesia Stock Exchange from 2021 to 2023. Using purposive sampling, 177 companies were selected, and the data were analyzed through multiple linear regression after passing classical assumption tests. The results show that environmental performance and public ownership significantly affect environmental disclosure, suggesting that firms with stronger environmental practices and wider public ownership are more inclined to disclose environmental information, possibly due to higher transparency demands and accountability pressures. However, leverage, profitability, and ISO 14001 certification do not significantly influence disclosure, indicating that internal financial metrics and formal certifications may not directly drive transparency in this context. This raises the need for further exploration of why these variables lack significance, potentially involving the nature of ISO implementation or varying stakeholder expectations. The study is limited by its focus on firm-level factors and does not incorporate external drivers such as regulatory requirements or industry pressures, which may also shape disclosure practices. Future research should integrate these broader contextual elements to gain a more comprehensive understanding of environmental disclosure determinants in emerging economies like Indonesia.
Leverage, Profitability, Environmental Performance, ISO 14001 Certification, and Public Ownership of Environmental Disclosure Wati, Afifah Rachma; Kusumawati, Eny
Majapahit Journal of Islamic Finance and Management Vol. 5 No. 1 (2025): Islamic Finance and Management
Publisher : Department of Sharia Economics Institut Pesantren KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v5i1.379

Abstract

This study analyzes the influence of leverage, profitability, ISO 14001 certification, environmental performance, and public ownership on environmental disclosure among non-financial companies listed on the Indonesia Stock Exchange from 2021 to 2023. Using purposive sampling, 177 companies were selected, and the data were analyzed through multiple linear regression after passing classical assumption tests. The results show that environmental performance and public ownership significantly affect environmental disclosure, suggesting that firms with stronger environmental practices and wider public ownership are more inclined to disclose environmental information, possibly due to higher transparency demands and accountability pressures. However, leverage, profitability, and ISO 14001 certification do not significantly influence disclosure, indicating that internal financial metrics and formal certifications may not directly drive transparency in this context. This raises the need for further exploration of why these variables lack significance, potentially involving the nature of ISO implementation or varying stakeholder expectations. The study is limited by its focus on firm-level factors and does not incorporate external drivers such as regulatory requirements or industry pressures, which may also shape disclosure practices. Future research should integrate these broader contextual elements to gain a more comprehensive understanding of environmental disclosure determinants in emerging economies like Indonesia.
Co-Authors Eny Kusumawati