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Journal of Applied Accounting and Sustainable Finance
Published by Yayasan Az Zukhruf Cendikia
ISSN : -     EISSN : 30906326     DOI : https://ojs.azzukhrufcendikia.or.id/index.php/aasf
Core Subject : Economy, Humanities, Science, Social,
Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences
Journal of Applied Accounting and Sustainable Finance is a peer-reviewed academic journal that publishes high-quality research in the fields of accounting, finance, and sustainability. The journal focuses on the application of accounting and financial principles to support sustainable business practices, corporate responsibility, environmental, social, and governance (ESG) reporting, as well as ethical financial decision-making. It welcomes original research articles, conceptual papers, case studies, and literature reviews that contribute to the development of applied accounting and sustainable finance, particularly in emerging and developing markets. The journal is published three times a year—in April, August, and December. Topics covered include but are not limited to: Sustainable financial reporting and assurance, Integrated reporting and ESG disclosure, Green finance and responsible investment, Corporate governance and accountability, Management accounting for sustainability, Financial performance and sustainability alignment, Ethical accounting practices and regulatory frameworks
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)
Articles 15 Documents
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Determinants of Firm Value: Evidence from Carbon Emission Disclosure, Green Innovation, and Cash Holding Mutiara Ilmiana Nur Isfani; Ahmad Zakia Garda Pratama
Journal of Applied Accounting and Sustainable Finance Vol. 1 No. 3 (2025): December 2025
Publisher : Yayasan Az Zukhruf Cendikia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65440/aasf.v1i3.126

Abstract

Purpose – This study aims to obtain empirical evidence on the influence of carbon Emission Disclosure, Green Innovation, and Cash Holding on Firm Value. Design/methodology/approach – This study uses quantitative research. The sample in this study consist of 40 companies in the transportation and logistics, and infrastructure sectors listed on Indonesian Stock Exchange from 2021-2024. The analysis technique used to the hypothesis is multiple regression analysis using Eviews 9 software. Findings – The results of this study found carbon emission disclosure had a negative and statictically insignificant effect on firm value, while green innovation had a negative and statistically significant effect on firm value, and cash holding had a positive and statistically significant effect on firm value. Research limitations/implications – This study discusses firm value and other such as carbon emission disclosure, green innovation, and cash holding focusing on transportation and logistics, and infrastructure sectros.
Emission Transparency and Funding Strategy: Implications for Firm Value Jihan Maharani; Nandita Ayuni Safitri
Journal of Applied Accounting and Sustainable Finance Vol. 1 No. 3 (2025): December 2025
Publisher : Yayasan Az Zukhruf Cendikia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65440/aasf.v1i3.129

Abstract

Purpose – This study aims to analyze the effect of Greenhouse Gas Emissions Disclosure and Debt Policy on Firm Value in companies listed on the Indonesia Stock Exchange for the period 2021-2024. This study is relevant given the increasing global attention to environmental issues and corporate funding strategies as important factors in creating company value.  Design/methodology/approach – The research uses a quantitative approach with panel data regression method through Random Effect Model (REM). Data was obtained from annual reports and corporate sustainability reports during the study period. The independent variables used are Greenhouse Gas Emissions Disclosure and Debt Policy, while the dependent variable is Firm Value proxied by Tobin's Q. Findings – The results showed that Greenhouse Gas Emissions Disclosure has a positive but insignificant effect on Firm Value, indicating that the market has not fully considered emissions disclosure in valuation. In contrast, Debt Policy has a positive and significant effect, in line with signaling theory, which suggests that funding decisions through debt are perceived as a signal of confidence in the company's prospects. Research limitations/implications – The research is limited to the 2021-2024 observation period and only uses two independent variables, so it does not include other factors such as profitability, company size, and governance. The practical implication is that management needs to strengthen emission disclosure transparency and manage debt policy sustainably in order to increase investor confidence. JEL : G32, M41, Q56    
The Influence Of Sustainability Report Disclosure, Firm Size, And Green Accounting On Return on Assets Of Companies In Basic Materials Sector In 2020-2024 Muhammad Yudhistira; Soegiharto Soegiharto
Journal of Applied Accounting and Sustainable Finance Vol. 1 No. 3 (2025): December 2025
Publisher : Yayasan Az Zukhruf Cendikia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65440/aasf.v1i3.131

Abstract

Purpose – This study aims to analyze the effect of Sustainability Report Disclosure, Firm Size, and Green Accounting on Return on Assets (ROA) of basic materials sector companies listed on the Indonesia Stock Exchange for the period 2020-2024. Design/methodology/approach – This research employs a quantitative approach with causal-explanatory design using secondary data obtained from annual reports and sustainability reports. The sample consists of 16 basic materials sector companies selected using purposive sampling technique, resulting in 80 observations during 2020-2024. Data analysis was conducted using panel data regression with Random Effect Model (REM) approach, supported by EViews9 software. Variable measurement uses disclosure index based on GRI Standards 2021 for Sustainability Report, natural logarithm of total assets for Firm Size, and dummy variable for Green Accounting based on environmental cost disclosure. Findings – The results showed that the overall model was significant (F-statistic = 2.245; p-value = 0.090), explaining 8.14% of the variation in ROA (R² = 0.814). Individually, the Sustainability Report Disclosure variable had no effect on ROA (coefficient = 0.0034; p-value = 0.4998), indicating that corporate sustainability transparency has not been able to improve asset profitability. Firm size did not affect ROA (coefficient = 0.0008; p-value = 0.6878). The results showed that firm size does not directly reflect a company's ability to generate profits from its assets. On the other hand, Green Accounting shows a negative effect on ROA (coefficient = -0.0608; p-value = 0.0163), this can be interpreted that the costs arising from the implementation of Green Accounting in the short term have the potential to reduce the company's profitability, although in the long term it can provide non-financial benefits such as reputation and business sustainability. Practically, companies that implement Green Accounting (disclose environmental costs in sustainability reports) have a lower ROA of 6.1 points compared to companies that do not implement it, assuming other variables are constant. Research limitations/implications – This research was obtained from financial reports and sustainability reports. The data obtained only covers a five-year period and may not fully capture the quality or substance of the disclosures, but only the quantity. JEL: G3, Q5
The Effect Of Green Accounting, Corporate Social Responsibility, Profitability And Investment Decisions On Firm Value Siska Alawiyah
Journal of Applied Accounting and Sustainable Finance Vol. 1 No. 3 (2025): December 2025
Publisher : Yayasan Az Zukhruf Cendikia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65440/aasf.v1i3.133

Abstract

Purpose – This study aims to obtion emprical evidence on the Effect of Green Accounting, Corporate Social Responsibility, Profitability, and Invesment Decisions on Firm Value. Design/methodology/approach – This study uses a type of quantitative research, the sample in this study is a raw materials sector company listed on the Indonesia Stock Exchange in 2021-2024 as many as 20 companies. The analytical technique used to test the lupotests is multiple regression analysis using e-views 9 software. Findings – The results of this study found that green accounting has a negative and statistically insignificant effect on firm value, as well as corporate social responsibility has a negative and statistically significant effect on firm value. while profitability has a positive and statistically significant effect on firm value. then investment decisions have a positive and statistically significant effect on firm value. Originality/value: This study discusses Firm Value and other factors such as Green Accounting. Corporate Social Responsibility, Profitability, and Investment Decisions that focus on raw materials sector companies.
Effectiveness of Managerial Ownership in Moderating the Impact of Green Accounting and Green Intellectual Capital on Financial Performance Sri Nuraini Rahmawati
Journal of Applied Accounting and Sustainable Finance Vol. 1 No. 3 (2025): December 2025
Publisher : Yayasan Az Zukhruf Cendikia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65440/aasf.v1i3.137

Abstract

Purpose – This study aims to obtain empirical evidence regarding the effect of green accounting and green intellectual capital on financial performance with managerial ownership as a moderating variable. Design/methodology/approach – This research uses quantitative research. The sample in this study were industrials sector companies listed on the Indonesia Stock Exchange in 2021-2024, totaling 41 companies. The analysis technique used to test the hypothesis is multiple regression analysis and moderation interaction regression using EViews 9 software.  Findings – The results of this study indicate that green accounting has a negative and statistically insignificant effect on financial performance. In contrast, green intellectual capital has a positive and statistically significant effect on financial performance, and managerial ownership has a positive and statistically significant effect on financial performance. However, managerial ownership does not strengthen the effect of green accounting on financial performance, while managerial ownership strengthens the effect of green intellectual capital on financial performance.  Research limitations/implications – This study discusses corporate financial performance as well as other factors such as green accounting, green intellectual capital, and managerial ownership, focusing on industrials sector companies. This study makes a novel contribution by placing managerial ownership as a moderating variable that strengthens the relationship to explain variations in corporate financial performance amidst increasing demands for sustainable business practices.  Originality/value – This study is a new contribution to Indonesian literature because it integrates green accounting, green intellectual capital, and managerial ownership into a single research framework. The evidence produced can be used as a reference for academics, practitioners, and regulators to understand the role of managerial ownership in strengthening sustainability practices that impact corporate financial performance.

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