JURNAL MANAJEMEN MOTIVASI
Vol 21 No 2 (2025): Jurnal Manajemen Motivasi

The Influence of CEO Education and Voluntary Carbon Disclosure on Capital Structure: Empirical Evidence from Indonesia

Setyaningrum, Lani Mara (Unknown)
Djuminah, Djuminah (Unknown)

Article Info

Publish Date
19 Sep 2025

Abstract

This study investigates the impact of CEO education on capital structure, with voluntary carbon disclosure (VCD) as a mediating variable. Data from 308 high-emission firms in Indonesia (2021–2023) were analyzed using path analysis. Results show CEO education level significantly influences VCD, while discipline does not. VCD improves capital structure by increasing investor trust and mediates the effect of education level on capital structure. Findings support Upper Echelon and Signaling theories, emphasizing the strategic role of CEO characteristics in promoting sustainability and optimizing funding decisions in environmentally sensitive sectors, particularly in the pursuit of sustainable development and carbon transparency goals.

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Journal Info
JURNAL MANAJEMEN MOTIVASI
Website

Abbrev

jm_motivasi

Publisher

Universitas Muhammadiyah Pontianak

Subject

Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

Description

Jurnal Manajemen Motivasi (JMM) adalah Jurnal Ilmiah Fakultas Ekonomi dan Bisnis Universitas Muhammadiyah Pontianak yang diterbitkan secara berkala 2 (dua) kali dalam satu tahun (Juni dan Oktober) sebagai sarana untuk menyebarluaskan hasil penelitian dan ilmu pengetahuan di bidang ilmu manajemen ...