Factor Affecting Manufacturing Company Value on Indonesia Stock Exchange: an Environmental Disclosure View Point

  • Negina Kencono Putri Universitas Jenderal Soedirman
  • Aziz Shabri Nahdi Utomo Universitas Jenderal Soedirman
  • Triani Arofah Universitas Jenderal Soedirman
Keywords: Environmental performance disclosure, Economic performance disclosure, Environmental performance, Company value

Abstract

PROPER has become a mandatory instrument for companies as a form of government oversight to those responsible for a business in the framework of compliance with laws and regulations in the field of environmental management as written in Article 10 Letter e of Law 23/1997 concerning Environmental Management (UUPLH) in Law 32/2009 concerning Environmental Protection and Management (UUPPLH) in Indonesia. According to a report from the Ministry of Environment published in the PROPER report during 2010-2017, there was an imbalance due to the number of companies that received blue ratings. Companies that get blue ratings tend to be only formalities in carrying out PROPER as an obligation that must be done. That is, corporate awareness of environmental awareness is still low. This study aims to examine the effect environmental performance disclosure, economic performance disclosure, and environmental performance toward company value.
The type of research is quantitative research that uses secondary data with the objects of research are environmental performance disclosure, economic performance disclosure, environmental performance, and company value. The population in this study are 155 manufacturing companies listed on the Indonesia Stock Exchange in 2015-2017. The sample of this study is 22 manufacturing companies using purposive sampling. The data analysis technique is Multiple Linear Regression Analysis using SPSS.
The results of this study indicate that environmental performance disclosure has a negative and significant effect, economic performance disclosure has a positive and significant effect, and environmental performance has a negative and no significant effect toward company value.

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Published
2020-09-17
Section
Financial Economics