The Influence of Green Accounting, Environmental Performance and Profitability to Company Value: A Study on Companies Energy Sectors Listed on the Indonesia Stock Exchange in 2020–2024

Abstract

This study aims to analyze the influence of green accounting, economic performance, and profitability on the value of energy sector companies listed on the Indonesia Stock Exchange for the 2020–2024 period. The sample was selected through purposive sampling and included 17 companies with 85 observations. Data analysis was performed using panel data regression with the help of EVIEWS 12 software. Green accounting is measured through the ratio of environmental costs to net profit, environmental performance using proper scores, profitability using return on assets and company value using Tobin's Q. Data is analyzed by regression of the Random Effect Model panel and cluster-robust standard errors by company. The results showed that profitability had a positive and significant effect, while green accounting and environmental performance had an effect but not significantly.