Pengaruh Corporate Environmental Performance dan Environmental Cost terhadap Nilai Perusahaan

Abstract

Abstract. This study aims to determine the effect of corporate environmental performance and environmental cost on firm value. This study used a total sample of 40 during the 2018-2021 period. The method of determining the sample used in this study was purposive sampling method. The hypothesis in this study was tested using panel data regression. Corporate environmental performance is measured using the PROPER ranking. Environmental cost is measured using the environmental cost ratio. Firm value is measured using the Tobin’s Q ratio. The result of the study shows that the higher the corporate environmental performance, the higher firm value is. Whereas environmental cost has no effect on firm value. Meanwhile simultaneously corporate environmental performance and environmental cost as well as control variables leverage and firm size have a significant effect on firm value. Abstrak. Penelitian ini bertujuan untuk menguji pengaruh corporate environmental performance dan environmental cost terhadap nilai perusahaan. Penelitian ini menggunakan total sampel 40 selama periode 2018-2021. Metode penentuan sampel yang digunakan adalah purposive sampling. Hipotesis dalam penelitian ini diuji dengan menggunakan regresi data panel. Corporate environmental performance dalam penelitian ini diukur menggunakan peringkat PROPER. Environmental Cost diukur dengan menggunakan rasio biaya lingkungan. Nilai perusahaan diukur dengan menggunakan rasio Tobin’s Q. Hasil penelitian menunjukkan bahwa semakin tinggi nilai corporate environmental performance maka semakin tinggi nilai perusahaan. Sedangkan environmental cost tidak berpengaruh terhadap nilai perusahaan. Sementara secara simultan corporate environmental performance dan environmental cost serta variabel kontrol leverage dan ukuran perusahaan berpengaruh signifikan terhadap nilai perusahaan.