International Journal of Scientific & Technology Research

Home About Us Scope Editorial Board Blog/Latest News Contact Us
10th percentile
Powered by  Scopus
Scopus coverage:
Nov 2018 to May 2020


IJSTR >> Volume 9 - Issue 2, February 2020 Edition

International Journal of Scientific & Technology Research  
International Journal of Scientific & Technology Research

Website: http://www.ijstr.org

ISSN 2277-8616

Analysis Of Carbon Emissions Disclosure And Firm Value: Type Of Industry As A Moderating Model

[Full Text]



Mohammad Hardiyansah, Aisa Tri Agustini



Carbon Emissions Disclosure, Climate Change, Environment, Firm Value, PROPER, Type of Industry.



The aims of this study is to analyze the effect of carbon emissions disclosure on firm value and industry type as moderating variables. Carbon emissions disclosure is measured using the content analysis method adopted from a questionnaire issued by the CDP (Carbon Disclosure Project). Firm value is measured by Tobin's Q, while industry types are assessed based on company classifications namely high profile industry and low profile industry. This study uses multiple linear regression analysis, and uses 43 companies listed on the Indonesia Stock Exchange and follows the 2014-2018 company's performance rating assessment program in environmental management (PROPER). The first analysis shows that carbon emissions disclosure has a positive and significant effect on firm value. This is because carbon emissions disclosure is a form of corporate responsibility in reducing the impact of environmental damage from company activities, so this can be an attraction for investors. The second research result shows that the type of industry can increase the effect of carbon emissions disclosure on firm value. This is because companies in the high profile industry category that have a high level of sensitivity to the environment are under pressure from the public, so the company responds by conducting carbon emissions disclosure so that it can be a guarantee of the company's sustainability.



(1) Campbell, N.A., Reece, J.N., Urry, L.A., Cain, M.L., Wasserman, S.A., Minorsky, P.V., Jackson R.B. (2012). Biology Eighth Edition Volume 3 (Translation by Damaring Tyas Wulanday). Jakarta: Erlangga.
(2) Choi, B. B., Lee, D., dan Psaros, J. (2013). An analysis of Australian Company Carbon Emission Disclosures. Pacific Accounting Review. Vol. 25. No. 1. Pp. 58-79.
(3) Chung K. H. and Pruitt S. 1994. A Simple approximation of Tobin's Q, Financial Management. Vol. 23-3. Pp. 70-74.
(4) Deegan, & Unerman. (2006). Financial Accounting Theory. McGraw-Hill.
(5) Delmas, M. A. dan Nairn-Birch, N. S. (2011). Is the Tail Wagging the Dog? An Empirical Analysis of Corporate Carbon Footprints and Financial Performance. Working Paper Series. UC Los Angeles: UCLA Institute of the Environment and Sustainability.
(6) Elkington, J. (1997). Cannibals with Forks The Triple Bottom Line of 21st Century Business. Oxford: Capstone Publishing Limited.
(7) Gray, R., Kouhy, R., and Lavers, S. (1995). Corporate Social and Environmental Reporting. Accounting, Auditing & Accountability Journal. Vol.8. No.2. Pp. 47-77.
(8) Hendriksen, Eldon S. 2001. Accounting Theory. Edition 5. Translation of Nugroho W of Accounting Theory. Jakarta: Penerbit Erlangga.
(9) Hobart, L. L. (2006). Modeling the Relationship Between Financial Indicators and Company Performance - An empirical study for US listed companies. Dissertation. France: Vienna University of Economics And Business Adminis tration.
(10) Irwanhantoko. (2016). Carbon Emission Disclosure: Studi Kasus Pada Perusahaan Manufaktur Indonesia. Surabaya: Univesitas Airlangga.
(11) Juniarti dan Sentosa, A. A. (2009). Pengaruh Good Corporate Governance, Voluntary Disclosure terhadap Biaya Hutang (Costs of Debt). Jurnal Akuntansi Dan Keuangan. Vol. 11. No. 2. Pp. 88-100.
(12) Kelvin, C., Fransiskus E.D., dan Suwandi N.G. (2017), Pengungkapan Emisi Karbon Sebagai Mekanisme Peningkatan Kinerja Untuk Menciptakan Nilai Perusahaan. Jurnal Keuangan dan Perbankan. Vol. 6. No. 1. Pp. 1-18.
(13) Luo, Le, Qingliang Tang, Yi-Chen Lan. (2013). Comparison of Prospensity for Carbon Disclosure between Developing and Developed Countries. Accounting Research Journal. Vol. 26. No. 1. Pp. 6-34.
(14) Presidential Regulation of the Republic of Indonesia Number 71 Year 2011: Regarding the Implementation of the National Greenhouse Gas Inventory.PSAK Number 01 (Revision 2009).
(15) Roberts, R.W. (1992). Determinants Of Corporate Social Responsibility Disclosure: An Application Of Stakeholder Theory. Accounting Organisations and Society. Vol. 17. No. 6. Pp. 595-612.