Pengaruh Environmental Disclosure, Green Product Innovation, Intellectual Capital, Struktur Modal, dan Profitabilitas terhadap Nilai Perusahaan pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Tahun 2021-2024

Abstract

This study aims to analyze the influence of financial and non-financial factors on firm value amidst increasing market dynamics and sustainability demands. The factors examined include the effects of environmental disclosure, green product innovation, intellectual capital, capital structure, and profitability on firm value. This research employs a quantitative associative approach with a population of 219 manufacturing companies. Using a purposive sampling technique, a sample of 46 companies listed on the Indonesia Stock Exchange (IDX) for the 2021–2024 period was obtained. Data analysis was conducted using panel data regression with the assistance of Eviews software. The results indicate that profitability (ROA) has a positive and significant effect on firm value. Conversely, capital structure (DER) and environmental disclosure each have a negative and significant impact on firm value. Furthermore, green product innovation was found to have a negative and insignificant effect, while intellectual capital had a positive and insignificant effect on firm value.