When Environmental Transparency Meets Profitability: The Impact of Carbon Emission Disclosure and Green Investment on Firm Value in Mining Companies
環境透明性と収益性の交差：鉱業企業における炭素排出開示とグリーン投資が企業価値に与える影響 (AI 翻訳)
null Jihan Putri Syabila, Veronika Santi Paramita
🤖 gxceed AI 要約
日本語
本研究は、インドネシア鉱業企業（2020-2024年）を対象に、炭素排出開示とグリーン投資が企業価値に与える影響を分析。結果、グリーン投資は有意な影響を与えず、炭素排出開示は企業価値に負の影響を与えるが、収益性がその負の影響を緩和することを発見。透明性のある開示には収益性の裏付けが重要であることを示唆。
English
This study examines the impact of carbon emission disclosure and green investment on firm value for Indonesian mining companies (2020-2024). It finds that green investment has no significant effect, while carbon emission disclosure negatively affects firm value. However, profitability moderates this relationship, reducing the negative impact. The findings imply that transparent disclosure should be accompanied by strong profitability.
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の鉱業セクターを対象としており、日本のGX文脈に直接適用できるわけではないが、収益性が開示の負の評価を緩和するという知見は、日本の企業が投資家対応を行う上で参考になる可能性がある。
In the global GX context
This paper contributes to global literature on the valuation effects of carbon disclosure, particularly in an emerging market context. It highlights the moderating role of profitability, a nuance that enforces the importance of financial performance alongside transparency in disclosure scholarship.
👥 読者別の含意
🔬研究者:The study provides empirical evidence on the moderating effect of profitability on the relationship between carbon disclosure and firm value, relevant for researchers in environmental accounting and sustainability.
🏢実務担当者:Corporate sustainability teams can learn that transparent carbon reporting may initially lower firm value unless accompanied by strong profitability, guiding communication strategies.
🏛政策担当者:Policymakers should consider that mandating carbon disclosure may have unintended negative market reactions, and complementary policies to support profitability could be beneficial.
📄 Abstract（原文）
This study examines the valuation of publicly listed mining companies in a specific sub-sector on the Indonesia Stock Exchange during 2020–2024, a period marked by increasing global attention to climate change and ESG transparency. The mining sector faces growing scrutiny due to its carbon emissions and role in the transition toward a sustainable economy. This research analyses the impact of carbon emission disclosure and green investment on firm value, with profitability as a moderating variable. A quantitative descriptive-causal approach was employed using secondary panel data from financial and sustainability reports. Eight mining sub-sector companies were selected through purposive sampling, and the data were analysed using panel data regression and moderated regression analysis (MRA). The results show that green investment does not significantly affect firm value. In contrast, carbon emission disclosure has a negative effect on firm value, indicating that increased transparency may heighten investor concerns regarding environmental risks and compliance costs. However, profitability significantly moderates this relationship by reducing the negative impact of carbon emission disclosure and strengthening the effect of sustainability practices on firm value. These findings imply that transparent carbon emission reporting should be accompanied by strong profitability to enhance firm value. This study extends prior sustainability and firm value research by providing empirical evidence on the moderating role of profitability in Indonesia’s mining sub-sector.
🔗 Provenance — このレコードを発見したソース
- openaire https://doi.org/10.61978/moneta.v4i1.1310first seen 2026-05-14 22:31:05
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