GREEN ACCOUNTING, ENVIRONMENTAL DISCLOSURE, AND OPERATING EFFICIENCY IN INDONESIA
Abstract
Environmental accounting and corporate environmental disclosure are increasingly important to the management of operational resources and corporate accountability. This study examines the associations of green accounting and environmental disclosure with operating financial efficiency among basic materials and consumer non-cyclicals companies listed on the Indonesia Stock Exchange in 2023–2024. The quantitative design uses secondary information from annual reports and sustainability reports, with 64 companies and 128 firm-year observations. Green accounting is represented by the ratio of CSR-related expenditure to after-tax profit, environmental disclosure by a graded environmental reporting index, and operating efficiency by the ratio of revenue to operating expenses. Panel regression estimates with company fixed effects indicate a negative coefficient for green accounting (β = −0.3350; p < .001) and a positive coefficient for environmental disclosure (β = 0.0238; p = .0274). Firm size, measured by the natural logarithm of assets, has a positive coefficient. The negative association indicates that the CSR expenditure ratio does not necessarily coincide with stronger contemporaneous operating efficiency. The positive association for disclosure is consistent with a role for reporting discipline and stakeholder accountability. The findings contribute to understanding the distinct financial implications of environmental expenditure and disclosure in Indonesian listed companies.
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DOI: https://doi.org/10.32509/jmb.v6i2.7562
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