Pengaruh Green Investment, Green Innovation dan Good Corporate Governance Terhadap Nilai Perusahaan: Studi Kasus pada Perusahaan Sektor Energi yang terdaftar di Bursa Efek Indonesia Periode 2019-2025

Abstrak

This study aims to analyse the factors that influence the value of firms in the energy sector in Indonesia. The study employs a quantitative approach with an associative-causal design. Eleven companies were selected for the study using purposive sampling, and secondary data were sourced from annual reports, sustainability reports, financial statements and PROPER publications. The analysis was conducted using panel data regression with Random Effects Model (REM) estimation via EViews 13. The results suggest that green investment and managerial ownership have no effect on firm value, whereas green innovation has a negative effect and institutional ownership and independent directors have a positive effect. This study suggests that companies in the energy sector need to integrate environmental management strategies with effective governance and oversight mechanisms to enhance investor confidence and increase firm value.