Pengaruh Carbon Emission Disclosure terhadap Kinerja Keuangan dengan Kepemilikan Institusional sebagai Moderasi pada Perusahaan Sektor Energy
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Abstract
This study aims to analyze the effect of carbon emission disclosure on financial performance with institutional ownership as a moderating variable in energy sector companies listed on the Indonesia Stock Exchange during the 2023–2025 period. The study employed a quantitative approach with an associative research method. The sample was determined using a purposive sampling technique, resulting in 43 companies with a total of 129 observation data. Research data were obtained from annual reports, sustainability reports, and company financial statements. Data analysis was conducted using multiple linear regression and Moderated Regression Analysis (MRA). The results indicate that carbon emission disclosure does not have a significant effect on corporate financial performance. In addition, institutional ownership is not able to moderate the relationship between carbon emission disclosure and financial performance in energy sector companies. These findings suggest that carbon emission disclosure practices in Indonesian energy companies are still primarily oriented toward fulfilling legitimacy and stakeholder demands rather than serving as a strategy to improve financial performance.
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