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INDONESIA
Moneta : Journal of Economics and Finance
ISSN : -     EISSN : 30308666     DOI : https://doi.org/10.61978/moneta
Core Subject : Economy,
Moneta : Journal of Economics and Finance with ISSN Number 3030-8666 (Online) published by Indonesian Scientific Publication, published original scholarly papers across the whole spectrum of economics and finance. The journal attempts to assist in the understanding of the present and potential ability of accounting to aid in the recording and interpretation of international economic transactions and taxation practices.
Articles 52 Documents
Determinants of Financial Performance in Indonesia’s Renewable Energy Sector: The Interplay of Green Financing, Capital Expenditure, and Leverage Alwani; Ramli, Rosmini
Moneta : Journal of Economics and Finance Vol. 4 No. 2 (2026): April 2026
Publisher : Indonesian Scientific Publication

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61978/moneta.v4i2.1251

Abstract

This research investigates how green bonds, green investment, capital expenditure, and leverage influence the financial performance of renewable energy firms listed on the Indonesia Stock Exchange between 2022 and 2024. The study is driven by the escalating challenge of global climate change, where the energy sector remains the largest source of greenhouse gas emissions. This situation has accelerated the transition toward renewable energy, accompanied by a consistent decline in return on assets among renewable energy companies. The novelty of this work lies in its simultaneous examination of four financial and sustainability variables within a single empirical framework applied to Indonesia’s renewable energy industry. The sample comprises 21 renewable energy firms selected through purposive sampling based on continuous listing status, availability of complete financial data, and sustainability disclosure during the observation period, observed over a three-year period. A quantitative method was employed, with panel data regression analysis conducted using EViews 13. The results of partial testing reveal that both green bonds and leverage exert a negative impact on financial performance, while green investment and capital expenditure show no significant effect. These findings underscore the short-term financial considerations associated with green financing and capital structure decisions during the energy transition, and offer empirical insights into the short-term financial implications of green financing and capital structure decisions in Indonesia’s renewable energy sector.
The Influence of Good Corporate Governance, Corporate Social Responsibility and Firm Size on Firm Value Moderated by Financial Performance (Study on Sri-Kehati Index Companies in 2020 - 2024 Irdipani, Angelia; Sembiring, Ferikawita Magdalena
Moneta : Journal of Economics and Finance Vol. 4 No. 2 (2026): April 2026
Publisher : Indonesian Scientific Publication

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61978/moneta.v4i2.1316

Abstract

This study aims to analyse the influence of Good Corporate Governance, Corporate Social Responsibility, and firm size on firm value, with financial performance as a moderating variable. The research focuses on 10 companies that are members of the SRI-KEHATI index during the 2020–2024 period. The data used is secondary data obtained from annual reports, sustainability reports, and financial statements published by companies and the Indonesia Stock Exchange. The analysis method used was panel data regression with a moderation approach The results indicate that institutional ownership (KI) does not have a significant direct effect on firm value. In contrast, managerial ownership (KM), corporate social responsibility (CSR), and firm size have significant effects on firm value. Furthermore, the moderation analysis shows that financial performance, proxied by ROA, moderates the relationships between all independent variables (KI, KM, CSR, and firm size) and firm value, resulting in significant effects after moderation. These findings show that the firm's value is more influenced by its characteristics and capacity, as reflected in its size, with optimal financial performance supporting this. This research is expected to contribute to investors, management, and the development of the literature on sustainability-based firm values. This study extends prior research by examining firm value in sustainability-oriented firms listed in the SRI-KEHATI Index, which is important because these firms integrate environmental, social, and governance principles that may influence financial performance differently from conventional firms.