<![CDATA[This research is based on the application of green investment in a company. This study aims to analyze the role of profitability as a mediator in the relationship between green investment and firm value. This study proxies green investment with the ratio of green-firm investment divided by asset value, firm value with Tobin's Q, and profitability with return on assets (ROA). The research population includes PROPER awardee companies on the IDX during the 2019-2023 period. The sample was selected using purposive sampling technique, resulting in 32 companies from various sectors, namely basic materials, consumer non cyclicals, industrials, healthcare, energy, consumer cyclicals, and infrastructure. Data analysis was carried out with panel data regression as well as classical assumption tests, t tests, Sobel tests, and difference tests using Eviews 9 software. This study found that green investment has a positive effect on profitability, but both have a negative impact on firm value. Profitability is proven to mediate the relationship between green investment and firm value. There is no significant difference in green investment between the pandemic and post-pandemic periods. The unique findings suggest that high profitability and assets do not always increase firm value, as they may be accompanied by high debt or suboptimal cash management. The implications of this finding emphasize the importance of green investment as a long-term strategy to support competitive advantage and improve overall firm performance.]]>
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