Green Accounting To The Value Of The Company With State Ownership As The Moderator Deasy Ratokoni Ndaparoka- Clara Margilina Reinamah- Risky Zadrak Maufa
Politeknik Negeri Kupang
Abstract
The research is aimed to know and analyse the effect of environment performance and environmental cost upon the value of the company which state ownership as the moderating variable listed under the program of PROPER MENLHK and BEI 2023. Sustainability has become one main concern to the investor in choosing a company to invest. Investor, nowadays, tend to invest to companies whose orientation is not only on the profit, but also being responsible to the environment. Though in Indonesia, the responsibility upon environment is still a voluntarily working by the company, but the government is currently indicating and putting commitment to become green industrial environment. Besides, more industries in Indonesia agree to keep this commitment. This research is a quantitative-research applying secondary data. The population of the research are companies listed in Program Penilaian Peringkat Kinerja Perusahaan (PROPER) which is listed in BEI, with sample taken using purposive sampling in order to get the most appropriate sample to the criteria of the research. There are 33 companies in 2023 utilized in this research. Analysis technique used in this research are Multiple Regression Linear Analysis and Regression Analysis (MRA). According to the result of the testing, it shows that environment performance affecting the value of the company while the environmental cost affect nothing to the value of the company. Analysis on the moderated variable of state/ ownership can moderate relation between environment performance to the value of the company but cannot moderate the relation on environmental cost to the value of the company.
Keywords: Green Accounting- Value of the Company- State of Ownership
