PERAN KINERJA KEUANGAN DALAM MEMEDIASI HUBUNGAN ANTARA GREEN ACCOUNTING, KARAKTERISTIK PERUSAHAAN, DAN NILAI PERUSAHAAN PADA PERUSAHAAN PERTAMBANGAN YANG TERDAFTAR DI BEI

Abstrak

The purpose of this study is to investigate how financial performance in mining sector businesses listed on the Indonesia Stock Exchange between 2022 and 2024 mediates the link between green accounting and company characteristics on firm value. Using secondary data from yearly financial reports and sustainability reports, this study uses a quantitative approach with an associative strategy. Purposive sampling was used to choose twelve mining companies for the sample. Environmental performance and environmental disclosure are used to measure green accounting; firm size, leverage, and age are used to measure company characteristics; Financial performance is measured by Return on Equity (ROE) and Return on Assets (ROA); business value is measured by Price to Book Value (PBV), Price Earnings Ratio (PER), and Tobin's Q. Data analysis is done using SmartPLS software and Partial Least Square–Structural Equation Modeling (PLS-SEM). The findings show that business value is not significantly impacted by green accounting or company attributes, either directly or indirectly through financial performance. Green accounting, however, has a substantial negative impact on financial performance, suggesting that short-term profitability is still under pressure from environmental expenses. Additionally, firm value is not greatly impacted by business attributes or financial performance, and the link between the independent factors and firm value is not mediated by financial performance. These results imply that while the economic advantages of green accounting are often long-term and have not yet been completely acknowledged by the capital market, company value in the mining industry is more impacted by external variables like changes in commodity prices and regulatory constraints.