Akuntansi Hijau dan Daya Saing Industri Sebagai Penentu Nilai Perusahaan: (Peran Moderasi Sentimen Investor dalam Era Ekonomi Berkelanjutan)

Muhammad Nur Miftakhul Ivanda

Jurnal Riset Manajemen dan Ekonomi
Vol. 4 No. 1 (2026): Januari : JURNAL RISET MANAJEMEN DAN EKONOMI

Fluctuations in company value in the non-cyclical consumer goods sector demonstrate the importance of sustainability strategies amidst increasingly fierce economic competition. This study aims to examine the influence of Green Accounting, Environmental Performance, and Industry Competition on Firm Value, and to assess whether Investor Sentiment strengthens this relationship. Using a positivistic quantitative approach, secondary data from the financial statements of companies listed on the Indonesia Stock Exchange (IDX) over the past three years were analyzed using PLS-SEM. The results show that all three independent variables significantly influence Firm Value, while Investor Sentiment only significantly moderates the relationship between Green Accounting and Firm Value. These findings broaden the scope of stakeholder theory by revealing the synergistic effect of market sentiment on green environmental disclosure. Consequently, management in the non-cyclical sector needs to strengthen environmental transparency and green performance, while being responsive to investor sentiment to maximize firm value.