Jurnal Manajemen Bisnis
Vol. 16 No. 02 (2026): October

The Effect of Female Executives and Environmental Committee on Green Investment: Evidence from Energy Companies Listed on the Indonesia Stock Exchange

Kharisma Agnes Suciana (Unknown)
Shoimatul Fitria (Unknown)
Astiwi Indriani (Unknown)
Foza Hadyu Hasanatina (Unknown)



Article Info

Publish Date
22 Oct 2026

Abstract

This study examines the effect of female executives and environmental committees on green investment in energy companies listed on the Indonesia Stock Exchange for the 2019–2024 period. The study is motivated by the strategic role of green investment in supporting the transition to a green economy, while empirical evidence on the influence of governance mechanisms in Indonesia remains scarce. A quantitative approach was employed using secondary data collected from annual reports, sustainability reports, and Bloomberg. The sample was selected using purposive sampling, yielding 219 firm-year observations, and the hypotheses were tested using panel data regression with Random Effects Model (REM) and robust standard errors. The results indicate that female executives and environmental committees have insignificant effects on green investment. This study contributes to the corporate governance and green investment literature by providing empirical evidence from Indonesia's energy sector.

Copyrights © 2026






Journal Info

Abbrev

jmb

Publisher

Subject

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

Description

The Universitas Muhammadiyah Malang published Manajemen Bisnis (MB) journal in 2011. Start in December 2018, the MB journal has online ISSN 2655-2523 for articles that publish started from Volume 9 No. 1, April 2019. Then, start from Volume 9 No. 2. MB journal has been accredited for SINTA 4. MB ...