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<b>Integrating Islamic Business Ethics and Environmental Sustainability: Evidence of Green Accounting, Carbon Emission Disclosure, and Islamic Social Reporting Impacts on Firm Value</b>

イスラムビジネス倫理と環境持続可能性の統合：グリーン会計、炭素排出開示、イスラム社会報告が企業価値に与える影響の証拠 (AI 翻訳)

Taufiq Andre Setiyono, Grace Tianna Solovida, Dessy Noor Farida

International Journal of Islamic Economics📚 査読済 / ジャーナル2026-08-05#ESG対象セクター: cross_sector
DOI: 10.32332/ijie.v8i2.13483
原典: https://doi.org/10.32332/ijie.v8i2.13483

🤖 gxceed AI 要約

日本語

本研究は、ジャカルタ・イスラム指数70（JII70）上場企業を対象に、グリーン会計、炭素排出開示、イスラム社会報告（ISR）が企業価値（Tobin's Q）に与える影響を分析した。2023～2024年のデータを用いた回帰分析の結果、グリーン会計は企業価値に有意な負の影響を与え、炭素排出開示とISRは有意な影響を示さなかった。環境コストが投資家に負担と見なされていることを示唆する。

English

This study examines the impact of green accounting, carbon emission disclosure, and Islamic Social Reporting (ISR) on firm value for companies listed on the Jakarta Islamic Index 70 (JII70). Using regression analysis on 2023-2024 data, it finds that green accounting has a significant negative effect on firm value, while carbon disclosure and ISR have no significant effect, suggesting investors perceive environmental costs as burdens.

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

日本ではSSBJ開示が進む中、環境コストが短期的に企業価値を下げる可能性を示す本結果は、開示戦略と投資家コミュニケーションの重要性を示唆する。イスラム金融特有の枠組みは日本には直接適用されないが、非財務情報の価値関連性の議論に示唆を与える。

In the global GX context

This study contributes to the global discourse on sustainability disclosure by providing evidence from an Islamic market context, showing that environmental cost transparency may be perceived negatively by investors. It highlights the need for effective communication of sustainability practices to create long-term value, relevant to ISSB and other disclosure frameworks.

👥 読者別の含意

🔬研究者:Provides empirical evidence on the value relevance of green accounting and carbon disclosure in an Islamic market context, contributing to the literature on sustainability disclosure and firm valuation.

🏢実務担当者:Highlights the need for companies to strategically communicate environmental and social disclosures to avoid negative market perceptions and enhance long-term value.

🏛政策担当者:Suggests that regulators should strengthen sustainability reporting standards to improve the relevance of non-financial information for investment decisions.

📄 Abstract（原文）

Objective: This study aims to examine the influence of environmental and Islamic ethical disclosure dimensions, namely Green Accounting, Carbon Emission Disclosure, and Islamic Social Reporting (ISR), on firm value among companies listed on the Jakarta Islamic Index 70 (JII70). This research seeks to provide empirical evidence regarding whether environmental cost transparency, carbon emission accountability, and sharia-based social responsibility disclosures contribute to investor valuation. Method: This study applies a quantitative approach using secondary data from annual reports, sustainability reports, and financial statements of JII70 companies during 2023–2024. The sample was selected using purposive sampling, resulting in 32 companies with 64 observations. Data were analyzed using multiple linear regression with SPSS 25, while firm value was measured using Tobin’s Q. Results: The results show that Green Accounting has a significant negative effect on firm value, indicating that environmental costs are still perceived as financial burdens by investors. Meanwhile, Carbon Emission Disclosure and Islamic Social Reporting have no significant effect on firm value. The research model explains 59.2% of the variation in firm value. Implications: Companies need to optimize environmental and social disclosure strategies to transform sustainability practices into long-term value creation. Regulators should also strengthen sustainability reporting standards to improve the relevance of non-financial information in investment decisions. Originality or Novelty: This study contributes by integrating financial-environmental, physical-environmental, and Islamic ethical dimensions into a single framework. It focuses on the highly liquid JII70 index during the early implementation phase of the Indonesia Carbon Exchange, providing new evidence on sharia investor responses toward sustainability practices.

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gxceed は公開メタデータに基づく研究支援データセットです。要約・翻訳・解説は AI 支援で生成されています。 最終的な解釈・検証は利用者が原典資料に基づいて行うことを前提とします。