APAKAH GREEN INNOVATION DAN ECO-EFFICIENCY MERUPAKAN FAKTOR PENENTU NILAI PERUSAHAAN?

Abstract

Industry, globalization, and environmental issues play an important role in the development of a country. The decline in stock prices in the energy sector, especially mining companies, is influenced by government policies, such as plans to retire power plants. Companies are required to pay attention to environmental impacts by implementing green innovation and eco-efficiency to increase firm value. Literature studies show mixed results on the effect of Green Innovation on firm value, highlighting the need for further research. This study analyzes the impact of green Innovation and eco-efficiency on the value of mining companies on the Indonesia Stock Exchange (IDX) from 2018 to 2022. Green Innovation is measured through green process innovation, while eco-efficiency is proxied by an ISO 14001 certificate. The research method uses secondary data, which is obtained through the financial statements of companies that are research samples where the financial statements have passed the audit process and are generally published in the 2018 - 2022 period both on the company's official website and from the official website of the Indonesia Stock Exchange (IDX), involving, descriptive statistics, correlation analysis, and classical assumption tests. The results show that green innovation has a positive influence on firm value, signaling an increase in value when firms adopt green innovation. ISO 14001 certificate, as an indicator of eco-efficiency, also has a positive and significant impact on firm value, reflecting market recognition of ecological efficiency.