JOURNAL OF BUSINESS AND ECONOMICS RESEARCH (JBE)
Vol 7 No 2 (2026): June 2026

Green Accounting, Debt Default, and Market Capitalization: Multiple Linear Regression on Stock Prices

Thomas Averio (Universitas Widya Dharma Pontianak, Pontianak)



Article Info

Publish Date
25 Jun 2026

Abstract

This study purports to examine whether green accounting, debt default, and market capitalization affect stock prices in emerging markets, with a particular focus on Indonesia. The research uses consumer non-cyclicals sector companies in Indonesia as the sample. The observation period covers 2020 to 2024. The study implements multiple linear regression to analyze the data. The findings indicate that green accounting, debt default, and market capitalization each exert a significant and positive influence on stock prices, with a significance level of 0.000 for all independent variables. Furthermore, the coefficient of determination indicates that green accounting, debt default, and market capitalization explain 15.4% of the variation in stock prices. These results reinforce previous empirical studies and further confirm that investors strongly consider green accounting practices, debt levels, and market capitalization when making investment decisions.

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Journal Info

Abbrev

jbe

Publisher

Subject

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

Description

1. Human Resource Management, 2. Financial Management, 3. Marketing Management, 4. Strategic Management, 5. Organizational Behavior, 6. Operations Management, 7. Change Management, 8. Management of Sharia, 9. Knowledge Management 10.Entrepreneurship, 11.E-Business, 12.Business Management, 13.Capital ...