Citation:

Jason Christoffer, Juniati Gunawan. "The Effect of Green Accounting, Product Innovation and Green Human Capital on Firm Value with Profitability as A Moderation Variable" International Research Journal of Economics and Management Studies, Vol. 4, No. 2, pp. 64-72, 2025.

Abstract:

With profitability serving as a moderating variable, this study attempts to examine the impact of green accounting, product innovation, and green human capital on firm value in the Indonesian banking industry. Panel data regression analysis utilizing the Fixed Effect Model (FEM) was used to study banking companies listed on the Indonesia Stock Exchange (IDX) during 2018 - 2023. The findings reveal that green accounting and product innovation have a significant positive effect on firm value. Conversely, green human capital significantly negatively affects firm value, indicating that implementing this policy requires further evaluation to address negative market perceptions. Profitability strengthens the influence of green accounting on firm value, although the effect is not statistically significant. Meanwhile, profitability significantly weakens the effect of product innovation on firm value, highlighting the need for more effective innovation strategies. Additionally, profitability significantly strengthens the influence of green human capital on firm value, emphasizing the role of financial performance in supporting sustainability initiative.

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Keywords:

Banking Sector; Firm Value; Green Accounting; Green Human Capital; Product Innovation; Profitability.