The Effect of Green Accounting, Carbon Emission Disclosure, and Environmental Performance on Company Value

ABSTRACT : This study investigates the impact of green accounting practices, carbon emissions disclosure, and environmental performance on company value in Indonesia. Drawing on legitimacy theory, the sample consists of manufacturing, agricultural, and energy companies listed on the Indonesia Stock Exchange from 2018 to 2022. Company value is measured using Tobin’s Q, green accounting is proxied by environmental cost disclosures based on the Global Reporting Initiative (GRI), carbon emissions disclosure follows a Carbon Disclosure Project (CDP) checklist, and environmental performance is measured using the PROPER rating. Using multiple regression analysis on 50 firm-year observations, the results show that green accounting and carbon emissions disclosure do not significantly affect company value, while environmental performance has a positive and significant effect. These findings indicate that investors place greater emphasis on tangible environmental performance than on voluntary environmental disclosures in emerging markets.