Do Efforts Guarantee Value? Evidence from Mining Firm
DOI:
https://doi.org/10.31004/joecy.v6i1.7106Keywords:
Firm Value, Carbon Accounting, Financial Performance, Return on Assets (ROA), Return on Equity (ROE), Audit Quality, Mining Companies, Indonesia Stock Exchange (IDX).Abstract
This study examines the impact of carbon accounting, financial performance, and audit quality on firm value in mining companies listed on the Indonesia Stock Exchange (IDX) from 2018 to 2022. A purposive sampling approach was used, selecting 12 mining companies, resulting in 60 observations. Data was analyzed using multiple linear regression. The results show that carbon accounting does not significantly affect firm value, while financial performance (measured by Return on Assets (ROA) and Return on Equity (ROE)) and audit quality (especially from Big Four public accounting firms) have a significant positive impact on firm value. The study highlights that environmental efforts, reflected in PROPER rankings, do not lead to a higher firm value. However, effective financial management and high-quality audits can enhance firm value. The study's limitations include a small sample size and the lack of consideration for the impact of the COVID-19 pandemic. Further research is recommended with a larger sample and external factors.
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