E-Jurnal Akuntansi
Vol. 36 No. 8 (2026)

Green Innovation and Sustainable Growth: How Green Reputation Strengthens the Value Creation of Environmental Strategies

Rita Wijayanti (Faculty of Economics and Business Universitas Muhammadiyah Surakarta, Indonesia)
Nashirotun Nisa Nurharjanti (Faculty of Economics and Business Universitas Muhammadiyah Surakarta, Indonesia)
Diana Nur Apni (Faculty of Economics and Business Universitas Muhammadiyah Surakarta, Indonesia)
Lusi Nuraini (Faculty of Economics and Business Universitas Muhammadiyah Surakarta, Indonesia)



Article Info

Publish Date
31 Aug 2026

Abstract

The relationship between green innovation and corporate sustainable growth has produced mixed findings, suggesting that green reputation may help explain the effectiveness of green innovation implementation. This study examines the effect of green innovation on corporate sustainable growth and the moderating role of green reputation in basic materials companies listed on the Indonesia Stock Exchange during 2020–2024. Panel data regression was conducted using Stata 19.0 on an unbalanced panel of 106 firms (472 firm-year observations). Sustainable growth was measured using the Sustainable Growth Rate (SGR). Green innovation was represented by four indicators, while green reputation was measured using 15 environmental disclosure indicators. The results indicate that green innovation has a negative and significant effect on SGR, whereas green reputation positively and significantly moderates this relationship. These findings suggest that the benefits of green innovation for sustainable growth are enhanced when firms possess a strong green reputation, thereby strengthening stakeholder trust.

Copyrights © 2026






Journal Info

Abbrev

akuntansi

Publisher

Subject

Economics, Econometrics & Finance

Description

E-JURNAL AKUNTANSI (EJA) E-Jurnal Akuntansi [e-ISSN 2302-8556] is an electronic scientific journal published online once a month. E-journal aims to improve the quality of science and channel the interest of sharing and dissemination of knowledge for scholars, students, practitioners, and the ...