Green Innovation, ESG Disclosure, and Firm Value: The Mediating Role of Carbon Emission Disclosure
Published:
2026-11-03Downloads
Abstract
This research examines how environmental, social, and governance (ESG) reporting and green innovation affect firm value, assessing carbon emission disclosure as a potential mediator. The quantitative study targets the Indonesian energy sector, analyzing secondary data from the annual and sustainability reports of 27 companies listed on the Indonesia Stock Exchange (IDX) between 2022 and 2024. Based on 81 observations selected via purposive sampling, a Partial Least Squares (PLS) analysis was conducted. The findings indicate that ESG disclosure significantly impacts both carbon emission reporting and firm value, whereas green innovation has no substantial effect on either. Additionally, carbon emission disclosure does not successfully mediate the relationship between the main independent variables and corporate value. Ultimately, the study concludes that when assessing a firm's worth, investors in Indonesia's energy market place a higher premium on broad ESG transparency than on isolated carbon metrics.
Keywords:
Firm Value Green Innovation ESG Disclosure Carbon Emission DisclosureReferences
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