CORPORATE GOVERNANCE MODERATING GREEN INTELLECTUAL CAPITAL AND BLUE ACCOUNTING DISCLOSURE EFFECTS ON SUSTAINABILITY PERFORMANCE

This study aimed to examine and analyze the role of corporate governance in moderating the influence of green intellectual capital and blue accounting disclosure on corporate sustainability performance. The study employed an associative quantitative approach. The population consisted of 91 energy sector companies listed on the Indonesia Stock Exchange during the 2020–2024 period, and a sample of 21 companies was selected through purposive sampling, resulting in 105 firm-year observations. Secondary data were obtained from annual reports, sustainability reports, and corporate governance reports. The data were analyzed using panel data regression and Moderated Regression Analysis with the assistance of EViews 13 software after descriptive statistics, model selection tests, and classical assumption tests were conducted. The results showed that green intellectual capital had no significant effect on sustainability performance, with a t-statistic of -1.855511 and a significance value of 0.0664. Blue accounting disclosure had a positive and significant effect on sustainability performance, with a t-statistic of 2.685552 and a significance value of 0.0085. Corporate governance significantly moderated the influence of green intellectual capital on sustainability performance, with a t-statistic of 2.044847 and a significance value of 0.0442. However, corporate governance did not moderate the influence of blue accounting disclosure on sustainability performance, with a t-statistic of -1.407638 and a significance value of 0.1632. These findings implied that environmentally oriented intangible resources alone were insufficient to enhance sustainability performance, while greater transparency in water and marine resource management improved sustainability performance, and effective governance enabled firms to better utilize green intellectual resources to achieve sustainability objectives.