THE EFFECT OF CARBON EMISSIONS DISCLOSURE, GOOD CORPORATE GOVERNANCE AND TAX PLANNING ON FIRM VALUE IN CONSUMER NON-CYCLICALS SECTOR

Abstract

Firm value reflects market perception of a company and becomes a key indicator for investors in assessing future business prospects. This study was conducted to examine the effect of carbon emissions disclosure, Good Corporate Governance, and tax planning on firm value as measured by Tobin's Q. The population used is Consumer Non-Cyclicals companies listed on the Indonesia Stock Exchange (IDX) in 2022-2024 with an initial sample of 210 observations. After outlier treatment, the final sample consisted of 189 observations. Panel data regression analysis was carried out using the Fixed Effect Model (FEM) and utilizing the EViews 13 software. The study's results demonstrate that carbon emissions disclosure and Good Corporate Governance do not have a significant effect on firm value. Meanwhile, tax planning has a positive and significant effect on firm value. This result indicates that investors in the Consumer Non-Cyclicals sector pay closer attention to financial information that directly affects after-tax earnings than non-financial information such as carbon emissions disclosure and corporate governance disclosure.