Pengaruh Pengungkapan Emisi Karbon Terhadap Nilai Perusahaan Sektor Aneka Industri Yang Terdaftar Di Bursa Efek Indonesia
Abstract
The goal of this study is to look at how different sectors' stock prices changed when companies disclosed their carbon emissions on the Indonesia Stock Exchange from 2018 to 2022. For this study, 154 research samples were obtained from 42 different organisations using a purposive sampling technique. An independent variable used in this study is the carbon emission disclosure (CED) list, which is a product of the carbon disclosure project (CDP). This study just makes use of profitability as a control variable. The data is analysed using a multiple linear regression model. According to these findings, a company's value drops sharply if its carbon emissions are made public. According to this research, businesses still haven't worked out how to tell the world about their carbon footprints, which means they're missing out on opportunities to win over stakeholders and consumers. There may not have been adequate communication to address the problem, and managers and stakeholders may not understand the significance of this revelation.
References
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Moers, F. (2007). Doing Archival Research in Management Accounting. Handbook of Management Accounting Research, 1, 399–411. Netherlands Elsevier.
Mukono, H. J. (2018). Analisis Kesehatan Lingkungan Akibat Pemanasan Global dan Perubahan Iklim. In Pusat Penerbitan dan Percetakan Universitas Airlangga, 1, 1-157. Surabaya: Airlangga University Press.
Mumpuni, S. V., & Maryono, M. (2022). Faktor – faktor yang Berpengaruh terhadap Nilai Perusahaan Manufaktur Sektor Aneka Industri yang Terdaftar di Bursa Efek Indonesia Periode Tahun 2015-2020. Riset Dan Jurnal Akuntansi, 6(1), 846–859. https://doi.org/10.33395/owner.v6i1.678
Putri, R. K. (2017). Pengaruh Ukuran Perusahaan, Profitabilitas, Leverage, Likuiditas, dan Basis Kepemilikan terhadap Corporate Social Responsibility pada Perusahaan Pertambangan yang Terdaftar di Bursa Efek Indonesia (BEI) Periode Tahun 2012-2014. Jurnal Ekonomi, Bisnis Dan Akuntansi (JEBA), 04(33), 44.
Rahmanita, S. A. (2020). Pengaruh Carbon Emission Disclosure Terhadap Nilai Perusahaan Dengan Kinerja Lingkungan Sebagai Variabel Pemoderasi. Jurnal Akuntansi Integratif, 6(01), 54–71. https://doi.org/10.29080/jai.v6i01.273
Retno, D. R., & Priantinah, D. (2012). Pengaruh Good Corporate Governance dan Pengungkapan Corporate Social Responsibility Terhadap Nilai Perusahaan. Jurnal Pendidikan Akuntansi & Keuangan, 2(2), 21. https://doi.org/10.17509/jpak.v2i2.15464
Rusmana, O., & Purnaman, S. M. N. (2020). Pengaruh Pengungkapan Emisi Karbon dan Kinerja Lingkungan Terhadap Nilai Perusahaan. Jurnal Ekonomi, Bisnis dan Akuntansi (JEBA), 22(1), 42–52. http://www.jp.feb.unsoed.ac.id/index.php/jeba/article/viewFile/1563/1577
Scott, W. R. (2015). Financial Accounting Theory. In Library and Archives Canada Cataloguing, 7. Toronto: Pearson Education Limited. https://doi.org/10.1201/b16379
Setianto, B. (2016). Prospek Investasi 2016 Semen Baturaja Tbk Laporan Keuangan Q2 2016, 103. Jakarta: Bumisaka Kurnia.
Spence, M. (1973). Job Market Signaling. The Quarterly Journal of Economics, 87(3), 355–374.
Sugiono, A., & Untung, E. (2016). Panduan Praktis Dasar Analisa Laporan Keuangan, 122. Makassar: Grasindo. http://ucs.sulsellib.net//index.php?p=show_detail&id=40504
Sugiyono. (2022). Metode Penelitian Kuantitatif, Kualitatif, dan R&D. In Anggota Ikatan Penerbit Indonesia (IKAPI), 1–332. Penerbit Alfabeta Bandung.
Suhardi, R. P., & Purwanto, A. (2015). Analisis Faktor-Faktor yang Mempengaruhi Pengungkapan Emisi Karbon di Indonesia. Diponegoro Journal of Accounting, 4(2), 1–13.
Sumayku. (2016, Maret 28). Indonesia Sudah Terdampak Bencana Iklim. National Geographic Indonesia. https://nationalgeographic.grid.id/read/13303533/indonesia-sudah-terdampak-bencana-iklim
Trimuliani, D., & Febrianto, R. (2023). Pengungkapan Emisi Karbon dan Kinerja Karbon terhadap Nilai Perusahaan: Moderasi Kepemilikan Negara. Jurnal Informatika Ekonomi Bisnis, 5, 900–906. https://doi.org/10.37034/infeb.v5i3.681
Wahyuni, E., & Suparman. (2019). A Comparison of Outlier Detection Techniques in Data Mining. Proceedings of the 1st STEEEM, 1(1), 139–147.
Yuliandhari, W. S., Saraswati, R. S., & Rasid Safari, Z. M. (2023). Pengaruh Carbon Emission Disclosure, Eco-Efficiency dan Green Innovation Terhadap Nilai Perusahaan. Riset dan Jurnal Akuntansi, 7(2), 1526–1539. https://doi.org/10.33395/owner.v7i2.1301
Anggraeni, D. Y. (2015). Pengungkapan Emisi Gas Rumah Kaca, Kinerja Lingkungan, dan Nilai Perusahaan. Jurnal Akuntasi dan Keuangan Indonesia, 12(2), 188–209. https://doi.org/10.21002/jaki.2015.11
Atikah. (2018, Maret 28). Hubungan Global Cooling dan Global Warming Terhadap Perubahan Iklim. Retrieved Form.
Berthelot, S., & Robert, A.-M. (2011). Climate Change Disclosures: An Examination of Canadian Oil and Gas Firms. Issues in Social and Environmental Accounting, 5(2), 106. https://doi.org/10.22164/isea.v5i2.61
Choi, B. B., Lee, D., & Psaros, J. (2013). An Analysis of Australian Company Carbon Emission Disclosures. Pacific Accounting Review, 25(1), 58–79. https://doi.org/10.1108/01140581311318968
Datt, R. R., Luo, L., & Tang, Q. (2019). Corporate Voluntary Carbon Disclosure Strategy and Carbon Performance in the USA. Accounting Research Journal, 32(3), 417–435. https://doi.org/10.1108/ARJ-02-2017-0031
Delmas, M., & Nairn-Birch. (2011). Is The Tail Wagging The Dog? An Empirical Analysis of Corporate Carbon Footprints and Financial Performance. UCLA Institute of the Environment and Sustainability. https://escholarship.org/uc/item/3k89n5b7
Frianto, D., Sutrisno, E., & Wahyudi, A. (2023). Pelaku Industri dalam Pengendalian Emisi dan Standardisasi. STANDAR: Better Standard Better Living, 2(5), 41–44.
Ghozali, H. I. (2018). Aplikasi Analisis Multivariate dengan Program IBM SPSS 25 Edisi 9. In Fakultas Ekonomika dan Bisnis Universitas Diponegoro Semarang, 9, 1–490. Semarang: Badan Penerbit Universitas Diponegoro.
Gunawan, B., & Berliyanda, K. L. (2024). Pengaruh Green Accounting, Pengungkapan Emisi Karbon, dan Kinerja Lingkungan Terhadap Nilai Perusahaan. Reviu Akuntansi dan Bisnis Indonesia, 8(1), 33–50. https://doi.org/10.18196/rabin.v8i1.22027
Handayani, R., Suhendro, & Masitoh W, E. (2022). Pengaruh Profitabilitas, Debt to Equity Ratio, Price to Earning Ratio dan Kapitalisasi Pasar terhadap Return Saham. INOVASI, 18(1), 127–138. https://doi.org/10.30872/jinv.v18i1.10397
Hardianti, T., & Mulyani, S. D. (2023). Pengaruh Carbon Emission Disclosure dan Ukuran Perusahaan Terhadap Nilai Perusahaan dengan Kinerja Lingkungan sebagai Variabel Moderasi. Jurnal Ilmiah Wahana Pendidikan, 9(9), 275–291. https://doi.org/10.5281/zenodo.7951766
Hardiyansah, M., Agustini, A. T., & Purnamawati, I. (2021). The Effect of Carbon Emission Disclosure on Firm Value: Environmental Performance and Industrial Type. Journal of Asian Finance, Economics and Business, 8(1), 123–133. https://doi.org/10.13106/jafeb.2021.vol8.no1.123
Herninta, T. (2019). Faktor-Faktor yang Mempengaruhi Nilai Perusahaan Manufaktur di Bursa Efek Indonesia. Manajemen Bisnis, 22(3), 325–336.
Irwhantoko, I., & Basuki, B. (2016). Carbon Emission Disclosure: Studi pada Perusahaan Manufaktur Indonesia. Jurnal Akuntansi Dan Keuangan, 18(2), 92–104. https://doi.org/10.9744/jak.18.2.92-104
Iskandar, D., & Fran, E. (2016). The Effect of Carbon Emissions Disclosure and Corporate Social Responsibility on the Firm Value with Environmental Performance as Variable Control. Research Journal of Finance and Accounting, 7(9), 122–130.
Jaehong, Kim, S., & Kim, E. (2021). Voluntary Disclosure of Carbon Emissions and Sustainable Existence of Firms: With a Focus on Human Resources of Internal Control System. Sustainability, 13(17). https://doi.org/10.3390/su13179955
Kurnia, P., Nur, D. P. E., & Putra, A. A. (2021). Carbon Emission Disclosure and Firm Value: A Study of Manufacturing Firms in Indonesia and Australia. International Journal of Energy Economics and Policy, 11(2), 83–87. https://doi.org/10.32479/ijeep.10730
Matsumura, E. M., Prakash, R., & Vera-Muñoz, S. C. (2014). Firm-Value Effects of Carbon Emissions and Carbon Disclosures. American Accounting Association, 89(2), 695–724. https://doi.org/10.2308/accr-50629
Miah, M. D., Hasan, R., & Usman, M. (2021). Carbon Emissions and Firm Performance: Evidence from Financial and Non-Financial Firms from Selected Emerging Economies. Sustainability, 13(23), 13281. https://doi.org/10.3390/su132313281
Moers, F. (2007). Doing Archival Research in Management Accounting. Handbook of Management Accounting Research, 1, 399–411. Netherlands Elsevier.
Mukono, H. J. (2018). Analisis Kesehatan Lingkungan Akibat Pemanasan Global dan Perubahan Iklim. In Pusat Penerbitan dan Percetakan Universitas Airlangga, 1, 1-157. Surabaya: Airlangga University Press.
Mumpuni, S. V., & Maryono, M. (2022). Faktor – faktor yang Berpengaruh terhadap Nilai Perusahaan Manufaktur Sektor Aneka Industri yang Terdaftar di Bursa Efek Indonesia Periode Tahun 2015-2020. Riset Dan Jurnal Akuntansi, 6(1), 846–859. https://doi.org/10.33395/owner.v6i1.678
Putri, R. K. (2017). Pengaruh Ukuran Perusahaan, Profitabilitas, Leverage, Likuiditas, dan Basis Kepemilikan terhadap Corporate Social Responsibility pada Perusahaan Pertambangan yang Terdaftar di Bursa Efek Indonesia (BEI) Periode Tahun 2012-2014. Jurnal Ekonomi, Bisnis Dan Akuntansi (JEBA), 04(33), 44.
Rahmanita, S. A. (2020). Pengaruh Carbon Emission Disclosure Terhadap Nilai Perusahaan Dengan Kinerja Lingkungan Sebagai Variabel Pemoderasi. Jurnal Akuntansi Integratif, 6(01), 54–71. https://doi.org/10.29080/jai.v6i01.273
Retno, D. R., & Priantinah, D. (2012). Pengaruh Good Corporate Governance dan Pengungkapan Corporate Social Responsibility Terhadap Nilai Perusahaan. Jurnal Pendidikan Akuntansi & Keuangan, 2(2), 21. https://doi.org/10.17509/jpak.v2i2.15464
Rusmana, O., & Purnaman, S. M. N. (2020). Pengaruh Pengungkapan Emisi Karbon dan Kinerja Lingkungan Terhadap Nilai Perusahaan. Jurnal Ekonomi, Bisnis dan Akuntansi (JEBA), 22(1), 42–52. http://www.jp.feb.unsoed.ac.id/index.php/jeba/article/viewFile/1563/1577
Scott, W. R. (2015). Financial Accounting Theory. In Library and Archives Canada Cataloguing, 7. Toronto: Pearson Education Limited. https://doi.org/10.1201/b16379
Setianto, B. (2016). Prospek Investasi 2016 Semen Baturaja Tbk Laporan Keuangan Q2 2016, 103. Jakarta: Bumisaka Kurnia.
Spence, M. (1973). Job Market Signaling. The Quarterly Journal of Economics, 87(3), 355–374.
Sugiono, A., & Untung, E. (2016). Panduan Praktis Dasar Analisa Laporan Keuangan, 122. Makassar: Grasindo. http://ucs.sulsellib.net//index.php?p=show_detail&id=40504
Sugiyono. (2022). Metode Penelitian Kuantitatif, Kualitatif, dan R&D. In Anggota Ikatan Penerbit Indonesia (IKAPI), 1–332. Penerbit Alfabeta Bandung.
Suhardi, R. P., & Purwanto, A. (2015). Analisis Faktor-Faktor yang Mempengaruhi Pengungkapan Emisi Karbon di Indonesia. Diponegoro Journal of Accounting, 4(2), 1–13.
Sumayku. (2016, Maret 28). Indonesia Sudah Terdampak Bencana Iklim. National Geographic Indonesia. https://nationalgeographic.grid.id/read/13303533/indonesia-sudah-terdampak-bencana-iklim
Trimuliani, D., & Febrianto, R. (2023). Pengungkapan Emisi Karbon dan Kinerja Karbon terhadap Nilai Perusahaan: Moderasi Kepemilikan Negara. Jurnal Informatika Ekonomi Bisnis, 5, 900–906. https://doi.org/10.37034/infeb.v5i3.681
Wahyuni, E., & Suparman. (2019). A Comparison of Outlier Detection Techniques in Data Mining. Proceedings of the 1st STEEEM, 1(1), 139–147.
Yuliandhari, W. S., Saraswati, R. S., & Rasid Safari, Z. M. (2023). Pengaruh Carbon Emission Disclosure, Eco-Efficiency dan Green Innovation Terhadap Nilai Perusahaan. Riset dan Jurnal Akuntansi, 7(2), 1526–1539. https://doi.org/10.33395/owner.v7i2.1301
Published
2025-12-01
How to Cite
ISTIQOMAH, Istiqomah; ANSHARI, Rahman; JAMAL, Sri Wahyuni.
Pengaruh Pengungkapan Emisi Karbon Terhadap Nilai Perusahaan Sektor Aneka Industri Yang Terdaftar Di Bursa Efek Indonesia.
REVITALISASI : Jurnal Ilmu Manajemen, [S.l.], v. 14, n. 2, p. 384-396, dec. 2025.
ISSN 2657-1684.
Available at: <https://ejournal.uniska-kediri.ac.id/index.php/Revitalisasi/article/view/7797>. Date accessed: 23 jan. 2026.
doi: https://doi.org/10.32503/revitalisasi.v14i2.7797.
Section
Articles
This work is licensed under a Creative Commons Attribution 4.0 International License.
This work is licensed under a Creative Commons Attribution 4.0 International License
