Citation:

Stefani, Juniati Gunawan. "Sustainability in Business: How Green Accounting, Carbon Emission Disclosure, and Green Transformational Leadership Influence Firm Value with Eco-Efficiency as a Moderator" International Research Journal of Economics and Management Studies, Vol. 3, No. 12, pp. 185-195, 2024.

Abstract:

Firm value is a key focus for stakeholders in assessing company performance, reflecting its current condition and providing insight into its future prospects. This study examines the influence of Green Accounting, Carbon Emission Disclosure, and Green Transformational Leadership on Firm Value, with Eco-Efficiency as a moderating variable. The research focuses on energy sector companies in Indonesia listed on the Indonesia Stock Exchange (IDX) during the 2018–2023 period, as this sector significantly contributes to environmental impacts. The study employs panel data analysis using 208 observations after removing outliers. The findings reveal that Green Accounting positively affects Firm Value, while Carbon Emission Disclosure has a negative impact. Green Transformational Leadership shows no significant effect. Furthermore, Eco-Efficiency weakens the relationship between Green Accounting and Firm Value but strengthens the relationship between Carbon Emission Disclosure and Firm Value. However, Eco-Efficiency does not moderate the relationship between Green Transformational Leadership and Firm Value. This study provides new insights into how sustainability practices influence Firm Value in Indonesia’s energy sector. The findings highlight the importance of more integrated strategies to achieve sustainable competitive advantage in an industry with substantial environmental impacts.

References:

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Keywords:

Carbon Emission Disclosure, Eco-efficiency, Firm Value, Green Accounting, Green Transformational Leadership.