Determinants of Firm Value: Carbon Accounting Disclosure and Environmental Performance
Abstract
Environmental issues and carbon emission disclosure have gained attention as stakeholders increasingly demand sustainable business practices. This study investigates the effect of carbon accounting disclosure and environmental performance on firm value using CEO education and firm size as control variables. This study adopts a quantitative approach using panel data from PROPER-listed companies for the 2022–2024 period. The sample comprises 52 companies with 156 observations analyzed using panel data regression through EViews 14. The findings indicate that carbon accounting disclosure does not significantly contribute to firm value, whereas environmental performance plays a significant role in enhancing firm value. In addition, CEO education and firm size do not significantly affect firm value. These findings indicate that market participants may place greater emphasis on environmental performance, as reflected in PROPER ratings, than on voluntarily disclosed carbon emission information. Therefore, companies should strengthen environmental management to enhance firm value and reinforce stakeholder confidence.
Keywords
References
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