Does Green Accounting, Intellectual Capital, and Dividend Policy Affect Corporate Value?

Tri Utami Lestari () and Muhammad Zahran Ramadhan
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Tri Utami Lestari: Telkom University, Faculty of Economics and Business
Muhammad Zahran Ramadhan: Telkom University, Faculty of Economics and Business

A chapter in Proceedings of the International Conference on Sustainable Collaboration in Business, Technology, Information, and Innovation (SCBTII 2024), 2024, pp 387-407 from Springer

Abstract: Abstract Corporate value is a valuation conveyed by investors based on the performance of the company. In other words, corporate value reflects the overall market condition of the company. This assessment is important to understand the prospects and determine its reputation. Previous research has mainly focused on how profitability affects corporate value and is often used by the PROPER rating from the Ministry of Environment and Forestry (KLH) to measure environmental performance. Tobin’s Q is used in this research to quantify the value of a company, as it has the advantage of taking market conditions into account. The objective of this study is to ascertain how corporate value is affected by dividend policy, intellectual capital, and green accounting. The sample is 18 companies of energy sector listed on the Indonesia Stock Exchange (IDX) from 2020 to 2022 and utilized panel data analysis. The results indicated that dividend policy, intellectual capital, and green accounting impact corporate value. More specifically, dividend policy has a negative impact while green accounting has a significant beneficial effect. However, there is no distinct connection between intellectual capital and company value.

Keywords: Corporate value; Dividend policy; Intellectual capital; green accounting; Signaling theory (search for similar items in EconPapers)
Date: 2024
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DOI: 10.2991/978-94-6463-558-4_23

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