Leverage, Kepemilikan Manajerial, Kinerja Lingkungan dan Nilai Perusahaan: Studi Empiris pada Perusahaan Manufaktur di Indonesia

Abstract

A good company value is more than just a high level of profit achievement. The use of debt, some of the shares owned by management, and the company's performance in relation to its environment all have the potential to increase firm value. The purpose of this study is to empirically test the effect of leverage, managerial ownership, and environmental performance on firm value. The research population for this study is PROPER participating manufacturing companies that are listed on the Indonesia Stock Exchange between 2017 and 2019. Purposive sampling is a method of determining the sample. Multiple regression analysis was used as the analysis technique. According to the findings of this study, leverage, managerial ownership, and environmental performance can all increase firm value.
 Keywords: Leverage; Managerial Ownership; Environmental Performance; Firm Value.

Transformative Leadership, Locus Of Control On Fraud Detection And Environmental Performance

“…This research is in line with research (Rismayanti and Putri, 2021) that environmental performance has a good influence on increasing firm value. Companies dealing with environmental issues tend to improve their long-term financial performance by enhancing the company's image to stakeholders.…”

“…The organizational value will increase if the organization does not have fraud. Environmental performance has a good influence on increasing company value (Rismayanti and Putri, 2021). Companies dealing with environmental issues tend to improve their long-term financial performance by enhancing the company's image to stakeholders.…”

The Effect of Environmental Performance, Eco-Efficiency, and Cash Holding on Firm Value

“…Research conducted by Abrahams, et al, (2020) shows that there is a positive effect on environmental disclosure with company valuation using an assessment of carbon emission productivity. It happens because the company can fulfil contracts or legitimize the community, so its existence will be responded to positively by the community or investors (Rismayanti, et al, 2021). It is supported by the results of research conducted by Hafidz and Deviyanti (2022) and Valdera, et al, (2022) which show a significant relationship between environmental performance and firm value.…”

“…A significance value of 0.005 <0.05 proves that environmental performance which is assessed by a PROPER rating based on a decree issued by the Ministry of Environment and Forestry, has a positive effect on firm value. Environmental management activities can be used as an act of corporate responsibility for environmental sustainability with the hope of gaining legitimacy from the community and a positive response from stakeholders (Rismayanti et al, 2021). It happens because environmental strategy can bridge the economy and the environment.…”

“…Environmental performance from an economic perspective can be defined as a company's ability to obtain financial benefits by considering or paying attention to its impact on the environment. Research conducted by Kusuma & Dewi (2019) and Rismayanti et al, (2021) states that good environmental performance will improve the company's image in the eyes of the public and increase public buying interest which has an impact on increasing the profits earned by the company. Increased profits give a positive signal to investors, so they invest their funds in the company and make the stock prices go up.…”