GREEN INTELLECTUAL CAPITAL, ESG, CARBON EMISSION DISCLOSURE, AND FIRM VALUE IN ENERGY FIRMS
グリーン知的資本、ESG、炭素排出開示、およびエネルギー企業の企業価値 (AI 翻訳)
Syamsul Bahri, Windu Mulyasari, Ina Indriana
🤖 gxceed AI 要約
日本語
本研究は、インドネシア証券取引所上場のエネルギー企業（2020-2023年）を対象に、グリーン知的資本開示、ESG開示、炭素排出開示が企業価値に与える影響を分析した。結果、炭素排出開示のみが企業価値に正の有意な影響を与え、グリーン知的資本開示とESG開示は直接的な影響を持たなかった。また、炭素排出開示はグリーン知的資本と企業価値の関係を有意に媒介することが確認された。
English
This study examines the effects of Green Intellectual Capital Disclosure, ESG Disclosure, and Carbon Emission Disclosure on firm value for Indonesian energy firms (2020-2023). The results show that only Carbon Emission Disclosure positively and significantly affects firm value, while Green Intellectual Capital and ESG disclosure have no direct effects. Further, Carbon Emission Disclosure significantly mediates the relationship between Green Intellectual Capital and firm value.
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、新興国インドネシアのエネルギー企業において炭素開示が企業価値向上に寄与することを実証。日本の企業にとっても、SSBJやTCFDに基づく炭素開示が市場評価に影響する可能性を示唆しており、日本の投資家・実務者にとって示唆に富む。
In the global GX context
This study adds empirical evidence from an emerging market (Indonesia) to the literature on the value relevance of carbon disclosure. It aligns with global frameworks like TCFD and ISSB, emphasizing that carbon transparency can enhance firm value, particularly in high-emitting sectors. The findings are relevant for global investors and regulators considering carbon disclosure mandates.
👥 読者別の含意
🔬研究者:This paper provides empirical evidence on the mediating role of carbon emission disclosure between green intellectual capital and firm value in the energy sector, contributing to signaling theory and the broader carbon disclosure literature.
🏢実務担当者:For corporate sustainability teams, the findings suggest that investing in carbon disclosure quality can directly impact firm valuation, especially in energy-intensive industries.
🏛政策担当者:Regulators may consider that mandatory carbon disclosure could improve market efficiency and incentivize firms to reduce emissions, as carbon transparency is positively valued by investors.
📄 Abstract（原文）
Purpose: This study examines the effect of Green Intellectual Capital Disclosure on firm value and tests whether ESG Disclosure and Carbon Emission Disclosure mediate this relationship. Research Methodology: The study uses a quantitative explanatory design with secondary data from annual reports and sustainability reports of energy sector companies listed on the Indonesia Stock Exchange during 2020-2023. The final sample consists of 189 firm-year observations. Panel regression with random effects and Sobel tests were processed using Stata 17. Results: Carbon Emission Disclosure has a positive and significant effect on firm value, whereas Green Intellectual Capital Disclosure and ESG Disclosure do not have direct significant effects. Green Intellectual Capital Disclosure significantly increases ESG Disclosure and Carbon Emission Disclosure. The mediation test confirms Carbon Emission Disclosure as a significant mediator, while ESG Disclosure is not significant. Conclusions: Carbon transparency is the most effective signaling channel through which green knowledge resources are translated into higher firm value in the Indonesian energy sector. Limitations: The study is limited by the availability of complete sustainability data and by content-analysis measures that primarily capture disclosure quantity. Contributions: The study contributes to signaling theory and provides practical insight for managers, investors, and regulators concerning the market relevance of carbon disclosure.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.32767/interprof.v12i1.3173first seen 2026-07-13 06:48:17
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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。