ECO-EFFICIENCY, CARBON EMISSION DISCLOSURE, AND FIRM VALUE: DOES ENVIRONMENTAL PERFORMANCE MATTER?

Abstract

This study aims to analyze the effect of eco-efficiency and carbon emission disclosure on firm value, with environmental performance as a moderating variable and firm size as a control variable. The research object consists of energy sector companies listed on the Indonesia Stock Exchange (IDX) during the 2021-2024 period. A quantitative method was employed using panel data regression with a fixed effect model, and a purposive sampling technique yielded a sample of 12 companies. Secondary data were obtained from financial statements, annual reports, and sustainability reports. The results indicate that eco-efficiency has no significant effect on firm value, carbon emission disclosure has a significant positive effect on firm value, environmental performance is unable to moderate the effect of eco-efficiency on firm value, environmental performance weakens the effect of carbon emission disclosure on firm value, and firm size has a significant negative effect on firm value.