Exploring the Impacts of Green Accounting, Sustainability Report Disclosure, and Environmental Investment on Financial Performance
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Aug 26, 2024
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Abstract
The operational activities of companies produce hazardous waste, frequently leading to environmental pollution. In fact, companies also have an obligation to maintain and protect the environment. This primary objective of this study is to examine the effect of green accounting, disclosure of sustainability reporting, and environmental investment on company’s financial performance. This study uses a quantitative approach with a population of companies in the mining and medical sectors listed on the Indonesia Stock Exchange (IDX) during 2021-2022. The analysis technique used is multiple linear regression analysis. The sample of this study consisted of 64 energy and healthcare companies that met certain criteria, using purposive sampling techniques, so that the total sample analyzed was 64 companies with 128 observations. The results showed that sustainability reporting and environmental investment affects the company's financial performance, while green accounting has no effect on the company's financial performance. The implication of this study shows the importance of companies in improving the company's image which will indirectly impact on improving the company's financial performance through environmental investment and sustainability reporting.
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References
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Bell, F., & Lehman, G. (1999). Recent trends in environment accounting: how green are your accounts? Accounting Forum, 23(2), 175–192. https://doi.org/10.1111/1467-6303.00010
CNN Indonesia. (2019). 10 Perusahaan Migas Hasilkan 30 Ribu Ton Limbah Beracun. CNN Indonesia.
Dura, J., & Suharsono, R. S. (2022). Application Green Accounting To Sustainable Development Improve Financial Performance Study In Green Industry. JURNAL AKUNTANSI, XXVI(02), 192–212.
Faizah, B. S. Q. (2020). PENERAPAN GREEN ACCOUNTING TERHADAP KINERJA KEUANGAN. JURNAL RISET AKUNTANSI KONTEMPORER, 12(2), 94–99.
FM, S. M. S., & Yuhertiana, I. (2023). Green Economy and Green Accounting: A Bibliometric Analysis. International Journal of Innovative Science and Research Technology, 8(5), 3055–3060. www.ijisrt.com
Freeman, R. E. (1984). Strategic Management: A Stakeholder Approach. Pitman Publishing. https://books.google.co.id/books?id=4PUJAQAAMAAJ
Fuadah, L. L., Safitri, R. H., & Yuliani, Y. (2019). Factors Influencing Financial Performance Through Sustainability Reporting in Indonesia. Sriwijaya International Journal of Dynamic Economics and Business, 3(1), 53–72. https://doi.org/10.29259/sijdeb.v3i1.53-72
Gray, R., & Bebbington, J. (2001). Accounting for the Environment. SAGE Publications Ltd. https://doi.org/10.4135/9781446220849
Hardi, E., & Chairina, C. (2019). The Effect of Sustainibility Reporting Disclosure and Its Impact on Companies Financial Performance. Journal of Wetlands Environmental Management, 7(1), 67. https://doi.org/10.20527/jwem.v7i1.188
Lako, A. (2018). Akuntansi Hijau: Isu, Teori, dan Aplikasi. Salemba Empat.
Meiyana, A., & Aisyah, M. N. (2019). Pengaruh Kinerja Lingkungan, Biaya Lingkungan, Dan Ukuran Perusahaan Terhadap Kinerja Keuangan Dengan Corporate Social Responsibility Sebagai Variabel Intervening (Studi Empiris Pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Tahun 2014-. Nominal: Barometer Riset Akuntansi Dan Manajemen, 8(1), 1–18.
Mustofa, U. A., Edy, R. N. A. P., Kurniawan, M., & Kholid, M. F. N. (2020). Green Accounting Terhadap CSR pada Bus di Indonesia dengan Kinerja Keuangan Sebagai Variabel Intervening. Jurnal Ilmiah Ekonomi Islam, 6(3), 508. https://doi.org/10.29040/jiei.v6i3.1372
Novia, J., & Candy, C. (2023). Pengaruh Green Investment Dalam Financial Performance: Efek Moderasi dari Environmental Policy. Widya Cipta: Jurnal Sekretari Dan Manajemen, 7(2), 65–73. https://doi.org/10.31294/widyacipta.v7i2.15567
Putri, A. Y., Wibowo, A. S., & Rosel, R. (2023). Pengaruh Penerapan Green Accounting Terhadap Kinerja Keuangan dengan Good Corporate Governance Sebagai Pemoderasi (Studi Empiris Pada Perusahaan Sektor Manufaktur yang Terdaftar di Bursa Efek Indonesia Periode 2016-2020. Jurnal Manajemen Sains Dan Organisasi, 3(3), 221–231. https://doi.org/10.52300/jmso.v3i3.7543
Putri, R. F., Tiara, S., & Putri, R. F. (2023). Pengaruh Pengungkapan Sustainability Reporting Terhadap Kinerja Keuangan Perusahaan Pertambangan. Bisnis-Net Jurnal Ekonomi Dan Bisnis, 6(1), 349–356. https://doi.org/10.46576/bn.v6i1.3279
Riyadh, H. A., Al-Shmam, M. A., Huang, H. H., Gunawan, B., & Alfaiza, S. A. (2020). The analysis of green accounting cost impact on corporations financial performance. International Journal of Energy Economics and Policy, 10(6), 421–426. https://doi.org/10.32479/ijeep.9238
Rosaline, V. D., & Wuryani, E. (2020). Pengaruh Penerapan Green Accounting dan Environmental Performance Terhadap Economic Performance. Jurnal Riset Akuntansi Dan Keuangan, 8(3), 569–578. https://doi.org/10.17509/jrak.v8i3.26158
Sabrina, & Hendi. (2019). Pengaruh Sustainability Report Terhadap Kinerja Keuangan Perusahaan Perbankan. Jurnal Paradigma Akuntansi, 1(2), 477. https://doi.org/10.24912/jpa.v1i2.5018
Setiawan, D., Hapsari, R. T., & Wibawa, A. (2018). Dampak Karakteristik Dewan Direksi Terhadap Pengungkapan Corporate Social Responsibility Pada Perusahaan Pertambangan Di Indonesia. Mix: Jurnal Ilmiah Manajemen, 8(1), 1. https://doi.org/10.22441/mix.2018.v8i1.001
Shabbir, M. S., & Wisdom, O. (2020). The relationship between corporate social responsibility, environmental investments and financial performance: evidence from manufacturing companies. Environmental Science and Pollution Research, 27(32), 39946–39957. https://doi.org/10.1007/s11356-020-10217-0
Sugiyono. (2019). Metode Penelitian Kuantitatif Kualitatif dan R&D. Alfabeta.
Suryani, S. M. (2023). ANALISIS IMPLEMENTASI GREEN ACCOUNTING DALAM UPAYA PEMBANGUNAN BERKELANJUTAN UNTUK MENINGKATKAN KINERJA KEUANGAN PERUSAAHAN (STUDI KASUS GREEN INDUSTRY DI BURSA EFEK INDONESIA). UPN Veteran Jawa Timur.
Sutopo, B., Kot, S., Adiati, A., & Ardila, L. (2018). Sustainability Reporting and Value Relevance of Financial Statements. Sustainability, 10(3), 678. https://doi.org/10.3390/su10030678
Tanasya, A., & Handayani, S. (2020). Green Investment Dan Corporate Governance Terhadap Nilai Perusahaan: Profitabilitas Sebagai Pemediasi. Jurnal Bisnis Dan Akuntansi, 22(2), 225–238. https://doi.org/10.34208/jba.v22i2.727
Undang-Undang Republik Indonesia. (1997). Undang-Undang Republik Indonesia Nomor 23 Tahun 1997 Tentang Pengelolaan Lingkungan Hidup, Lembaran Negara Republik Indonesia Tahun 1997 Nomor 68,Tambahan Lembaran Negara RI. 1997 No. 3699. 1–59.
Undang-Undang Republik Indonesia. (2007). Undang-Undang (UU) Nomor 25 Tahun 2007 Pasal 3 Ayat (1) Tentang Green Investment.
Zhang, Y., & Berhe, H. M. (2022). The Impact of Green Investment and Green Marketing on Business Performance: The Mediation Role of Corporate Social Responsibility in Ethiopia’s Chinese Textile Companies. Sustainability (Switzerland), 14(7). https://doi.org/10.3390/su14073883