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All Journal Jurnal Ilmiah Accusi
Panjaitan, Frengky Samuel
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Economics, Econometrics & Finance

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Green Accounting, Intellectual Capital, and Dividend Policy On Firm Value in Energy Companies Panjaitan, Frengky Samuel; Simanjuntak, Arthur; Mesakh, Januardi; Napitupulu, Merry Anna
Jurnal Ilmiah Accusi Vol. 8 No. 1 (2026): Forthcoming issue
Publisher : Program Studi Akuntansi Universitas Simalungun

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36985/fk84sb10

Abstract

This study examines green accounting, intellectual capital, and dividend policy effects on firm value in Indonesian energy companies during 2021-2024. Using multiple linear regression on 48 observations from 12 companies, results show green accounting significantly negatively affects firm value (β = -0.168, p = 0.006), as environmental disclosure signals cost burdens to investors. Intellectual capital demonstrates positive but insignificant influence (β = 0.057, p = 0.230). Dividend policy exhibits significant positive effects (β = 0.324, p = 0.041), signaling financial strength. Simultaneous testing confirms significant collective effects (F = 3.759, p = 0.017), explaining 15.0% of firm value variance. Findings suggest integrated approaches balancing environmental practices, intellectual assets, and shareholder returns optimize value creation in energy sector contexts
Co-Authors Arthur Simanjuntak Merry Anna Napitupulu, Merry Anna Mesakh, Januardi