The Role of Financial Performance in Mediating the Relationship Between Green Innovation and Eco-Efficiency on Company Value
DOI:
https://doi.org/10.37385/msej.v5i2.4621Keywords:
Green Innovation, Eco-Efficiency, Financial Performance, Firm ValueAbstract
Environmental pollution resulting from increasingly advanced industrial development has become one of the basic assessments for investors in making investment decisions. Environmental pollution that occurs can be prevented by implementing green innovation and eco-efficiency strategies so that companies are able to innovate in an environmentally friendly manner and minimize costs incurred for production. A company is expected to have good financial performance so that it can increase company value and convince investors in making decisions. This research is quantitative research with a research sample of manufacturing companies listed on the Indonesia Stock Exchange (BEI) in the 2019-2022 period using purposive sampling research techniques. The research results show that the application of green innovation has an effect on company value, while eco-efficiency and financial performance have no effect on company value. Financial performance is unable to mediate the relationship between green innovation and eco-efficiency on company value.
References
Aviyanti, s. (2019). Pengaruh Eco-Efficiency, Corporate Social Responsibility, Ownership Concentration, Dan Cash Holding Terhadap Nilai Perusahaan Sektor Consumer Goods Di Bei Periode 2011-2016. Www.Idx.Com
Damas, d., Maghviroh, r. El, & Meidiyah, m. (2021). Pengaruh Eco-Efficiency, Green Inovation Dan Carbon Emission Disclosure Terhadap Nilai Perusahaan Dengan Kinerja Lingkungan Sebagai Moderasi. Jurnal Magister Akuntansi Trisakti, 8(2), 85–108. Https://Doi.Org/10.25105/Jmat.v8i2.9742
Dewi, r., & Rahmianingsih, a. (2020). Meningkatkan Nilai Perusahaan Melalui Green Innovation Dan Eco-Effisiensi. Ekspansi: Jurnal Ekonomi, Keuangan, Perbankan Dan Akuntansi, 12(2), 225–243. Https://Doi.Org/10.35313/Ekspansi.v12i2.2241
Irnawati, j. (2021). Nilai Perusahaan Dan Kebijakan Deviden Pada Perusahaan Contruction And Engineering Pada Bursa Efek Singapura (t. Seto, Ed.). Pena Persada.
Rais, a. h., & Usman, a. (2020). Effect Of Eco-Efficiency And Corporate Social Performance On Firm Value With Financial Performance As Intervening Variables (Study On Mining And Manufacturing Companies Listed On The Indonesia Stock Exchange). In International Journal Of Innovative Science And Research Technology (Vol. 5). Www.Ijisrt.Com510
Silaban, d., & Dewi, r. r. (2023). The Effects Of Green Innovation, Eco-Efficiency, Business Strategy, Technology Information Investment, And Profitability On Firm Value. Ilomata International Journal Of Tax And Accounting, 4(3), 470–490. Https://Doi.Org/10.52728/Ijtc.v4i3.791
Supramono, s., & Saputri, i. (2021). Pengaruh Kinerja Keuangan Terhadap Nilai Perusahaan Dengan Profitabilitas Sebagai Variabel Intervening. Http://Journals.Usm.Ac.Id/Index.Php/Jreb
Tonay, c., & Murwaningsari, e. (2022). Pengaruh Green Innovation Dan Green Intellectual Capital Terhadap Nilai Perusahaan Dengan Ukuran Perusahaan Sebagai Moderasi (Vol. 24, Issue 2). Http://Jurnaltsm.Id/Index.Php/Jba
Yuniarti, r., Soewarno, n., & Isnalita. (2022). Green Innovation On Firm Value With Financial Performance As Mediating Variable: Evidence Of The Mining Industry. Asian Academy Of Management Journal, 27(2), 41–58. Https://Doi.Org/10.21315/Aamj2022.27.2.3