Exploring the Correlation Between Green Investment, Financial Performance, and Corporate Value in Indonesian Manufacturing: A Study on 2019-2023 Period

Abstrak

This research investigates the potential impact of green investment and financial performance on manufacturing firm value. Using quantitative methodology and secondary data, this study analyzes a sample of 40 manufacturing companies listed on the Indonesia Stock Exchange (IDX) between 2019 and 2023. Data were collected from annual reports and sustainability reports that are publicly available on the companies' official websites. A purposive sampling technique was used for sample selection. Multiple linear regression analysis was used as the main analytical tool. The findings show that Green Investment and Return on Assets (ROA) have a positive and significant effect on manufacturing firm value. In contrast, Economic Value Added (EVA) shows no affect on firm value in this sector.