KEUNIS
Vol. 14 No. 2 (2026): JULY 2026

Do Green Finance and Green Innovation Enhance Sustainable Investment Decisions? Identifying The Pivotal Role of Artificial Intelligence

Maya Novitasari ((Scopus ID: 57222748173) Universitas PGRI Madiun)
Syaiful Bahri (Universitas Islam Majapahit Mojokerto)
Dwi Sulistiani (Universitas Islam Negeri Maulana Malik Ibrahim Malang)
Yona Octiani Lestari (Universitas Islam Negeri Maulana Malik Ibrahim Malang)
Moawiah Alghizzawi (Managerial & Financial Sciences Department, Al Zahra College for Women)



Article Info

Publish Date
31 Jul 2026

Abstract

This quantitative study aims to empirically examine the effects of green finance and green innovation on sustainable investment decisions, as well as the role of artificial intelligence in moderating these relationships. The population consisted of non-cyclical consumer sector companies listed on the Indonesia Stock Exchange (IDX) from 2021 to 2024. Purposive sampling was employed to select 427 companies for observation. Data were analysed using CEM panel data regression. The results reveal that both green finance and green innovation positively affect sustainable investment decisions, and artificial intelligence can moderate these impacts. The study findings offer valuable insights for companies operating in Indonesia’s non-cyclical consumer sector. Green innovation can be applied as a green finance policy to improve sustainable investment decisions. Furthermore, artificial intelligence can be used to strengthen the influence of green finance on sustainable investment decisions. This study, therefore, supports the triple bottom line and the Sustainable Development Goals, encouraging companies in Indonesia not only to focus on profits but also to increase their environmental awareness.

Copyrights © 2026






Journal Info

Abbrev

keunis

Publisher

Subject

Economics, Econometrics & Finance

Description

Pemahaman tentang keuangan dan atau yang bersinggungan atau berkaitan dengan arus dana dan kegiatan yang berhubungan dengan ...