The Impact of sustainability reporting and environmental performance in the Firm’s value-intensive sector Industry in Indonesia
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Tremendous studies have recently characterized the impact of sustainability reporting and the firm's value. Using the implication of legitimacy theory, signalling theory and efficiency market hypothesis theory, we investigate the association between sustainability reporting disclosures, environmental performance and firm value in the intensive sector industry in Indonesia. This research data was gathered from Indonesia Stock Exchange (IDX) in 2018-2020; 45 data observations were collected. The data was analyzed using fixed-effect regression. This study presents that environmental performance disclosure has a positive coefficient. But, the disclosure of sustainability reporting has a negative coefficient. However, it should be noted that the disclosure of sustainability reports does not have an impact on the value of the firm, and similarly, the firm's value is not influenced by environmental performance These results contribute to the growing literature examining the influence of sustainability reporting disclosure and environmental performance on company value.
Sejumlah besar penelitian baru-baru ini telah mengkaji dampak pelaporan keberlanjutan terhadap nilai perusahaan. Dengan menggunakan implikasi dari teori legitimasi, teori sinyal, dan teori hipotesis pasar efisien, kami meneliti hubungan antara pengungkapan laporan keberlanjutan, kinerja lingkungan, dan nilai perusahaan pada industri sektor padat di Indonesia. Data penelitian ini dikumpulkan dari Bursa Efek Indonesia (BEI) pada tahun 2018–2020; sebanyak 45 observasi data berhasil dihimpun. Data dianalisis menggunakan regresi efek tetap. Penelitian ini menunjukkan bahwa pengungkapan kinerja lingkungan memiliki koefisien positif. Namun, pengungkapan laporan keberlanjutan memiliki koefisien negatif. Meskipun demikian, perlu dicatat bahwa pengungkapan laporan keberlanjutan tidak berpengaruh terhadap nilai perusahaan, demikian pula nilai perusahaan tidak dipengaruhi oleh kinerja lingkungan. Hasil ini memberikan kontribusi terhadap literatur yang terus berkembang mengenai pengaruh pengungkapan laporan keberlanjutan dan kinerja lingkungan terhadap nilai perusahaan.
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