The role of green intellectual capital disclosure on company market performance: Sustainable investment as moderating

Companies are starting to understand that protecting the environment is a moral responsibility and a long-term investment that can improve the company’s market performance. The increasing investor interest every year in companies that care about the environment encourages companies to improve their market performance by implementing the Green concept in company management, such as Green Intellectual Capital. This research aims to examine the influence of Green Intellectual Capital on market performance and the role of Sustainable Investment in strengthening the impact of Green Intellectual Capital on market performance in SRI-KEHATI-indexed companies. This research was conducted on companies indexed by SRI-KEHATI (Sustainable Responsible Investment - Keanekaragaman Hayati Indonesia) from ۲۰۱۸ to ۲۰۲۳. Using purposive sampling, ۱۶۸ company observations were obtained, which will be processed using unbalanced panel data regression using the Eviews ۱۲ analysis tool. The research found that Green Intellectual Capital had a negative effect on the market performance of companies indexed by SRI-Kehati from ۲۰۱۸ to ۲۰۲۳. Another finding related to Sustainable Investment had not yet moderated the effect of Green Intellectual Capital on the market performance of companies indexed by SRI-Kehati from ۲۰۱۸ until ۲۰۲۳. This research contributes to company executives’ considerations of implementing Green Intellectual Capital and sustainable investment policies in companies.

کلیدواژه ها:

Green intellectual capital disclosure ، Market Performance ، SRI-Kehati ، Sustainable investment