New Evidence of Green Initiatives on Firm Values  in ASEAN

Saarce Elsye Hatane; Tiffany Angeline; Aurelia Davina Victoria Adikarjo; James Wright; I Gusti Ayu Purnamawati

doi:10.21512/jas.v13i1.12684

Authors

Saarce Elsye Hatane Accounting Program, School of Business and Management, Universitas Kristen Petra
Tiffany Angeline Accounting Program, School of Business and Management, Universitas Kristen Petra
Aurelia Davina Victoria Adikarjo Accounting Program, School of Business and Management, Universitas Kristen Petra
James Wright Institute of Psychology, Business and Human Sciences, University of Chichester
I Gusti Ayu Purnamawati Accounting Program, Faculty of Economics, Universitas Pendidikan Ganesha

DOI:

https://doi.org/10.21512/jas.v13i1.12684

Keywords:

green building, green revenues, emission performance, firm value, ASEAN countries

Abstract

This research examined the roles of green building, green revenue percentage, and emission-reduction performance in firm value. This research analysed crucial yet less-explored issues of environmental research in five ASEAN countries, along with providing proof regarding the impact of environmental performance on a firm’s value, highlighting variation across nations and years. This research operated weighted least squares (WLS) to analyse a total of 3,193 firm’s years from 2015 to 2023. The findings reveal that investors value companies that invest in green buildings as a sign of commitment to sustainability and energy efficiency, thereby reducing operating costs. They also appreciate companies generating green revenue and promoting environmentally friendly products. Investors respond positively to companies that reduce emissions, recognizing potential benefits for financial performance and long-term sustainability. This research has significant implications for practice and policy, as governments and policymakers play a paramount role in the implementation of environmental performance. The green initiatives continue to improve; thus, future studies can expand the green performance indicators.

Dimensions

References

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