Green Strategy and Green Investment on Carbon Emission Disclosure: Environmental Performance as Mediation Variable
グリーン戦略とグリーン投資が炭素排出開示に与える影響：環境パフォーマンスの媒介変数として (AI 翻訳)
Luh Anggie Deasy Praptayani, Ni Wayan Rustiarini, Putu Wenny Saitri
🤖 gxceed AI 要約
日本語
本研究は、インドネシア証券取引所に上場する企業を対象に、グリーン戦略とグリーン投資が炭素排出開示に及ぼす影響を、環境パフォーマンスの媒介効果を検証しながら分析した。パネルデータ回帰とSobel検定の結果、グリーン戦略は環境パフォーマンスを高め、間接的に炭素開示を促進することが示された。一方、グリーン投資は環境パフォーマンス向上には寄与せず、媒介効果は確認されなかった。
English
This study examines the effects of green strategy and green investment on carbon emission disclosure, with environmental performance as a mediator, using Indonesian listed firms (2022–2024). Panel data regression and Sobel tests show green strategy positively affects disclosure directly and indirectly via environmental performance, but green investment has no indirect effect. The findings suggest integrated green strategies are more effective than standalone investments for enhancing carbon transparency.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
本論文はインドネシア証券取引所（IDX）のPROPERデータに基づいており、日本のSSBJ開示や有報への直接的な示唆は限定的。ただし、グリーン戦略の統合的実施が炭素開示を促進する点は、日本企業の統合報告書やTCFD対応にも応用可能。グリーン投資単体では環境パフォーマンス向上に直結しない可能性に留意すべき。
In the global GX context
This paper contributes to the global carbon disclosure literature by providing evidence from an emerging market (Indonesia) using the PROPER environmental rating program. The finding that green strategy (not just investment) drives disclosure through enhanced environmental performance is relevant for firms and regulators in developing countries. However, the lack of a mediation effect for green investment suggests that capital expenditure alone may not improve environmental performance without strategic integration.
👥 読者別の含意
🔬研究者:Methodological approach using Sobel test for mediation in carbon disclosure context offers a template for similar studies in other emerging markets.
🏢実務担当者:Corporate sustainability teams should prioritize embedding green strategy into operations over isolated green investments to boost carbon disclosure credibility.
🏛政策担当者:Regulators can design PROPER-like programs to incentivize not only investment but also strategic integration for effective carbon transparency.
📄 Abstract（原文）
Global climate change triggered by increased greenhouse gas emissions is encouraging companies to increase environmental transparency through carbon emission disclosure. This study aims to analyze the effect of green strategy and green investment on carbon emission disclosure, with environmental performance as a mediating variable in publicly traded companies listed on the Indonesia Stock Exchange (IDX) for the 2022–2024 period. The research sample was determined using a purposive sampling method, with the criteria being that the company received PROPER for three consecutive years, resulting in a total sample of 120 observations during the 2022–2024 period. Data analysis was performed using panel data regression with the Random Effects Model (REM) and the Sobel test to examine the mediation effect. The results show that green strategy, green investment, and environmental performance have a positive effect on carbon emission disclosure. In addition, green strategy has a positive effect on environmental performance. However, green investment has no effect on environmental performance. The results of the mediation test indicate that environmental performance is able to mediate the effect of green strategy on carbon emission disclosure, but is unable to mediate the effect of green investment on carbon emission disclosure. These findings indicate that the implementation of an integrated green strategy in a company's operational activities can improve environmental performance and encourage broader carbon emission disclosure. On the other hand, green investments made by companies are not necessarily able to improve environmental performance and therefore cannot strengthen their influence on carbon emission disclosure through environmental performance.
🔗 Provenance — このレコードを発見したソース
- crossref https://doi.org/10.47191/jefms/v9-i7-10first seen 2026-07-16 07:23:46
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