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Shalihuddin
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cvproaksara@gmail.com
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Jalan Kolonel Sugiono 3C/438 , Kelurahan Mergosono, Kecamatan Kedungkandang, Kota Malang, Jawa Timur 65134, Malang, Provinsi Jawa Timur
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INDONESIA
Review of Ethics in Sustainable Finance and Accounting
ISSN : -     EISSN : 31238505     DOI : https://doi.org/10.70865/resfa
Core Subject : Economy,
Review of Ethics in Sustainable Finance and Accounting (RESFA) is an interdisciplinary publication dedicated to original research and scholarly work in the fields of ethical practices, sustainable finance, and accounting. This journal aims to facilitate and promote the dissemination of knowledge and innovative findings to a global audience of researchers, practitioners, and policymakers. The RESFA provides a platform for critical discussions and advancements in understanding ethical considerations in finance and accounting, aligning with the pressing global needs for sustainable and responsible financial practices. By serving as a forum for research and discourse, the journal plays an essential role in advancing scholarly understanding of strategies that enhance ethical financial practices while ensuring sustainability and accountability. The scope of our journal includes: 1. Ethics in Sustainable Finance 2. Sustainable Accounting and Environmental Reporting 3. Sustainable Investment and ESG 4. Corporate Social Responsibility and Accountability 5. Business Ethics and Corporate Governance 6. Transparency and Accountability in Financial Reporting 7. Financial Impact of Climate Change and Environmental Risks 8. Green Finance and Sustainable Financial Instruments 9. Role of Accounting in Achieving SDGs 10. Ethics in Investment and Portfolio Management 11. Environmental and Sustainability Auditing 12. Public Policy and Regulations related to Sustainable Finance 13. Organizational Behavior and Ethics in Financial Decision Making 14. Ethical Issues in Public and Private Sector Accounting All manuscripts submitted to RESFA should be written in English. Submissions undergo a rigorous double-blind peer review process and are published twice a year (March and September).
Articles 1 Documents
Search results for , issue "Vol. 1 No. 2 (2025): September" : 1 Documents clear
The Effect of Corporate Social Responsibility Disclosure on Firm Value with Environmental Performance as a Moderating Variable I Putu Bayu Suda; I Made Karya Utama
Review of Ethics in Sustainable Finance and Accounting Vol. 1 No. 2 (2025): September
Publisher : CV. Proaksara Global Transeduka

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70865/resfa.v1i2.168

Abstract

As industrial rivalry intensifies, companies face mounting pressure to boost their performance and market valuation. Nevertheless, prioritizing profits above all else tends to result in the disregard of social and environmental responsibilities which a tendency particularly pronounced in manufacturing, where operations involving waste disposal directly affect ecological systems. Consequently, firms must not only implement but also publicly disclose their Corporate Social Responsibility (CSR) commitments, thereby demonstrating accountability to stakeholders while simultaneously cultivating investor confidence and enhancing corporate value. This study examines the relationship between Corporate Social Responsibility (CSR) disclosure and firm value, with environmental performance as a moderator, focusing on manufacturing companies listed on the Indonesia Stock Exchange (IDX) during 2020-2022. Using a sample of 58 companies (174 firm-year observations), CSR disclosure was measured using the Global Reporting Initiative (GRI) G4 index, firm value using Tobin’s Q, and environmental performance using PROPER ratings from the Ministry of Environment. Moderated regression analysis reveals that CSR disclosure has a significant positive effect on firm value (β = 8.426, p < 0.05). Furthermore, environmental performance significantly strengthens this relationship (interaction β = 2.791, p < 0.05), indicating that the CSR-firm value linkage is amplified for companies with superior environmental ratings. The model explains 7.9% of firm value variation. These findings support stakeholder, legitimacy, and signaling theories, demonstrating that environmental performance enhances investor confidence in CSR activities. The study provides implications for corporate sustainability strategy, investor decision-making, and environmental policy design in emerging markets.

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