The Effect of Green Accounting on Profitability of Consumer Goods Companies Listed on the Indonesia Stock Exchange 2019-2023
DOI:
https://doi.org/10.56127/jukim.v5i04.2953Keywords:
Environmental Costs; Environmental Performance; Green Accounting; Manufacturing Companies; Profitability.Abstract
Environmental sustainability has encouraged companies to integrate environmental responsibility into their accounting and business practices through the implementation of green accounting. This study aims to examine the effect of green accounting, represented by environmental costs and environmental performance, on the profitability of manufacturing companies in the consumer goods industry sector listed on the Indonesia Stock Exchange. A quantitative approach was employed using secondary data obtained from corporate annual reports for the 2019–2023 period. The sample was selected using purposive sampling, resulting in 32 companies and 160 firm-year observations. Environmental costs and environmental performance were used as independent variables, while profitability was treated as the dependent variable. Data were analyzed using descriptive statistics, classical assumption tests, multiple linear regression, partial t-tests, simultaneous F-tests, and the coefficient of determination with SPSS 26. The results indicate that environmental costs have no significant effect on profitability (t = 0.498; p = 0.619), while environmental performance also has no significant effect on profitability (t = 0.701; p = 0.484). Simultaneously, environmental costs and environmental performance do not significantly affect profitability (F = 0.375; p = 0.688). These findings indicate that the green accounting indicators examined in this study have not become major determinants of corporate profitability during the observation period. The results suggest that the financial benefits of environmental initiatives may not be directly reflected in short-term profitability and that other financial and operational factors may play a more substantial role in determining corporate profitability.
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