EFEK MODERASI TIPE STRATEGI PROSPECTOR PADA PENGARUH PRAKTIK GREEN INNOVATION TERHADAP NILAI PERUSAHAAN
Abstract
Tujuan dari penelitian ini adalah untuk menganalisis pengaruh green innovation terhadap nilai perusahaan dengan mempertimbangkan tipe strategi organisasi. Penelitian ini menggunakan menggunakan ukuran perusahaan, return of assets, dan debt to equity ratio sebagai variabel kontrol. Sampel yang digunakan dalam penelitian ini adalah perusahaan sektor non keuangan yang terdaftar di Bursa Efek Indonesia periode 2019-2021. Penentuan sampel menggunakan teknik purposive sampling sehingga menghasilkan sampel sebanyak 84 tahun perusahaan. Penulis menggunakan ordinary least square untuk menguji hipotesis. Penelitian ini membuktikan bahwa tipe strategi prospector bukan determinan dari praktik green innovation yang dilakukan oleh perusahaan. Penelitian ini juga membuktikan bahwa praktik green innovation mampu meningkatkan nilai perusahaan yang diberikan oleh pasar. Akan tetapi, tipe strategi prospector tidak mampu memperkuat hubungan antara praktik green innovation dengan nilai perusahan pada keadaan yang general. Analisis tambahan dilakukan untuk mengeksplorasi efek moderasi tipe strategi prospector pada perusahaan dengan karakteristik tertentu. Hasilnya, tipe strategi prospector dapat memperkuat hubungan green innovation dan nilai perusahaan hanya pada perusahaan dengan sumber daya yang produktif saja. Hasil penelitian ini berimplikasi secara teoritis dan sejalan dengan teori resource-based view yang mampu menjelaskan perilaku perusahaan dalam mengelaborasi sumber daya perusahaan untuk menciptakan keunggulan kompetitif.
References
Agustia, D., Sawarjuwono, T., & Dianawati, W. (2019). The mediating effect of environmental management accounting on green innovation - Firm value relationship. International Journal of Energy Economics and Policy, 9(2), 299–306. https://doi.org/10.32479/ijeep.7438
Amanati, H. T., & Arifa, C. (2022). Business Strategy and Corporate Environmental Performance: Evidence from High Environmental Risk Countries in the Asian Region. The Indonesian Journal of Accounting Research, 25(01). https://doi.org/10.33312/ijar.609
Ambec, S., & Lanoie, P. (2008). Does It Pay to Be Green? A Systematic Overview. Academy of Management Perspectives, 22(4), 45–62. http://www.jstor.org/stable/27747478
Ardito, L., & Dangelico, R. M. (2018). Firm Environmental Performance under Scrutiny: The Role of Strategic and Organizational Orientations. Corporate Social Responsibility and Environmental Management, 25(4), 426–440. https://doi.org/10.1002/csr.1470
Barney, J. (1991). Firm Resources and Sustained Competitive Advantage. Journal of Management, 17(1), 99–120. https://doi.org/10.1177/014920639101700108
Bentley-Goode, K. A., Omer, T. C., & Twedt, B. J. (2019). Does Business Strategy Impact a Firm’s Information Environment? Journal of Accounting, Auditing and Finance, 34(4), 563–587. https://doi.org/10.1177/0148558X17726893
Chen, Y. S., Lai, S. B., & Wen, C. T. (2006). The influence of green innovation performance on corporate advantage in Taiwan. Journal of Business Ethics, 67(4), 331–339. https://doi.org/10.1007/s10551-006-9025-5
Costanza, R., Daly, L., Fioramonti, L., Giovannini, E., Kubiszewski, I., Mortensen, L. F., Pickett, K. E., Ragnarsdottir, K. V., De Vogli, R., & Wilkinson, R. (2016). Modelling and measuring sustainable wellbeing in connection with the UN Sustainable Development Goals. Ecological Economics, 130, 350–355. https://doi.org/10.1016/j.ecolecon.2016.07.009
Damas, D., Maghviroh, R. EL, & Meidiyah, M. (2021). PENGARUH ECO-EFFICIENCY, GREEN INOVATION DAN CARBON EMISSION DISCLOSURE TERHADAP NILAI PERUSAHAAN DENGAN KINERJA LINGKUNGAN SEBAGAI MODERASI. Jurnal Magister Akuntansi Trisakti, 8(2), 85–108. https://doi.org/10.25105/jmat.v8i2.9742
Duque‐Grisales, E., Aguilera‐Caracuel, J., Guerrero‐Villegas, J., & García‐Sánchez, E. (2020). Does green innovation affect the financial performance of Multilatinas? The moderating role of ISO 14001 and R&D investment. Business Strategy and the Environment, 29(8), 3286–3302. https://doi.org/10.1002/bse.2572
Durlista, M. A., & Wahyudi, I. (2023). PENGARUH PENGUNGKAPAN ENVIRONMENTAL, SOCIAL DAN GOVERNANCE (ESG) TERHADAP KINERJA PERUSAHAAN PADA PERUSAHAAN SUB SEKTOR PERTAMBANGAN BATU BARA PERIODE 2017-2022. Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA), 7(3), 210–232. https://doi.org/10.31955/mea.v7i3.3327
Epa Hardiyanti, S., & Hakim Aziz, L. (2021). The Case of COVID-19 impact on the level of non-performing loans of conventional commercial banks in Indonesia. Banks and Bank Systems, 16(1), 62–68. https://doi.org/10.21511/bbs.16(1).2021.06
Girindratama, M. W., & Rudiawarni, F. A. (2022). PENGARUH BUSINESS STRATEGY TERHADAP TAX PLANNING: PERAN FINANCIAL EXPERTISE DAN INSTITUTIONAL OWNEESHIP. Media Riset Akuntansi, Auditing & Informasi, 22(1), 65–90. https://doi.org/10.25105/mraai.v22i1.9958
Horne, V. J., & Wachowicz, J. M. (2005). Fundamentals of Financial Management (13th ed.). Pearson.
Hsu, P. H., Moore, J. A., & Neubaum, D. O. (2018). Tax avoidance, financial experts on the audit committee, and business strategy. Journal of Business Finance and Accounting, 45(9–10), 1293–1321. https://doi.org/10.1111/jbfa.12352
Husnaini, W., & Tjahjadi, B. (2020). QUALITY MANAGEMENT, GREEN INNOVATION AND FIRM VALUE: EVIDENCE FROM INDONESIA. International Journal of Energy Economics and Policy, 11(1), 255–262. https://doi.org/10.32479/ijeep.10282
Isbanah, Y. (2015). Pengaruh ESOP, leverage, and ukuran perusahaan terhadap kinerja keuangan perusahaan di bursa efek Indonesia. Jurnal Riset Ekonomi Dan Manajemen, 15(1), 28–41.
Kamran, M., Rafique, M. Z., Nadeem, A. M., & Anwar, S. (2023). Does Inclusive Growth Contribute Towards Sustainable Development? Evidence from Selected Developing Countries. Social Indicators Research, 165(2), 409–429. https://doi.org/10.1007/s11205-022-03020-6
Kuzey, C., & Uyar, A. (2017). Determinants of sustainability reporting and its impact on firm value: Evidence from the emerging market of Turkey. Journal of Cleaner Production, 143, 27–39. https://doi.org/10.1016/j.jclepro.2016.12.153
Li, L., Msaad, H., Sun, H., Tan, M. X., Lu, Y., & Lau, A. K. W. (2020). Green innovation and business sustainability: New evidence from energy intensive industry in China. International Journal of Environmental Research and Public Health, 17(21), 1–18. https://doi.org/10.3390/ijerph17217826
Liu, C., & Kong, D. (2021). Business strategy and sustainable development: Evidence from China. Business Strategy and the Environment, 30(1), 657–670. https://doi.org/10.1002/bse.2645
Maharani, S. N. (2014). Sustainability Reporting sebagai Media Perusahaan dalam Mengembangkan dan Melaporkan Kebijakan Bisnis Berkelanjutan. Jurnal Ekonomi Modernisasi, 11–22.
Maulidia, A. N., & Putri, K. A. S. (2023). GREEN MARKETING, BRAND IMAGE DAN PENGARUHNYA PADA KEPUTUSAN PEMBELIAN. Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA), 7(3), 383–398. https://doi.org/10.31955/mea.v7i3.3359
Melinda, A., & Wardhani, R. (2020). The Effect of Environmental, Social, Governance, and Controversies on Firms’ Value: Evidence from Asia (pp. 147–173). https://doi.org/10.1108/S1571-038620200000027011
Miles, R. E., Snow, C. C., Meyer, A. D., & Coleman, H. J. (1978). Organizational Strategy, Structure, and Process. Academy of Management Review, 3(3), 546–562. https://doi.org/10.5465/amr.1978.4305755
Porter, M. E., & Kramer, M. R. (2019). Creating Shared Value. In Managing Sustainable Business (pp. 323–346). Springer Netherlands. https://doi.org/10.1007/978-94-024-1144-7_16
Ramadhan, P., Rani, P., & Wahyuni, E. S. (2023). Disclosure of Carbon Emissions, Covid-19, Green Innovations, Financial Performance, and Firm Value. Jurnal Akuntansi Dan Keuangan, 25(1), 1–16. https://doi.org/10.9744/jak.25.1.1-16
Rosiana, D., 1, W., Wijayanti, A., & Masitoh, E. (2022). Issue 2 (2022) Pages 294-304 INOVASI: Jurnal Ekonomi. Keuangan Dan Manajemen, 18(2), 294. https://doi.org/10.29264/jinv.v18i2.10617
Shen, C., Li, S., Wang, X., & Liao, Z. (2020). The effect of environmental policy tools on regional green innovation: Evidence from China. Journal of Cleaner Production, 254, 120122. https://doi.org/10.1016/j.jclepro.2020.120122
Sukamulja, S. (2017). Initiatives for Financial Modeling and Capital Market Analysis. AND.
Tseng, M.-L., Wang, R., Chiu, A. S. F., Geng, Y., & Lin, Y. H. (2013). Improving performance of green innovation practices under uncertainty. Journal of Cleaner Production, 40, 71–82. https://doi.org/10.1016/j.jclepro.2011.10.009
Tu, Y., & Wu, W. (2021). How does green innovation improve enterprises’ competitive advantage? The role of organizational learning. Sustainable Production and Consumption, 26, 504–516. https://doi.org/10.1016/j.spc.2020.12.031
Yao, Q., Liu, J., Sheng, S., & Fang, H. (2019). Does eco-innovation lift firm value? The contingent role of institutions in emerging markets. Journal of Business & Industrial Marketing, 34(8), 1763–1778. https://doi.org/10.1108/JBIM-06-2018-0201
Zhang, J., Liang, G., Feng, T., Yuan, C., & Jiang, W. (2020). Green innovation to respond to environmental regulation: How external knowledge adoption and green absorptive capacity matter? Business Strategy and the Environment, 29(1), 39–53. https://doi.org/10.1002/bse.2349
Amanati, H. T., & Arifa, C. (2022). Business Strategy and Corporate Environmental Performance: Evidence from High Environmental Risk Countries in the Asian Region. The Indonesian Journal of Accounting Research, 25(01). https://doi.org/10.33312/ijar.609
Ambec, S., & Lanoie, P. (2008). Does It Pay to Be Green? A Systematic Overview. Academy of Management Perspectives, 22(4), 45–62. http://www.jstor.org/stable/27747478
Ardito, L., & Dangelico, R. M. (2018). Firm Environmental Performance under Scrutiny: The Role of Strategic and Organizational Orientations. Corporate Social Responsibility and Environmental Management, 25(4), 426–440. https://doi.org/10.1002/csr.1470
Barney, J. (1991). Firm Resources and Sustained Competitive Advantage. Journal of Management, 17(1), 99–120. https://doi.org/10.1177/014920639101700108
Bentley-Goode, K. A., Omer, T. C., & Twedt, B. J. (2019). Does Business Strategy Impact a Firm’s Information Environment? Journal of Accounting, Auditing and Finance, 34(4), 563–587. https://doi.org/10.1177/0148558X17726893
Chen, Y. S., Lai, S. B., & Wen, C. T. (2006). The influence of green innovation performance on corporate advantage in Taiwan. Journal of Business Ethics, 67(4), 331–339. https://doi.org/10.1007/s10551-006-9025-5
Costanza, R., Daly, L., Fioramonti, L., Giovannini, E., Kubiszewski, I., Mortensen, L. F., Pickett, K. E., Ragnarsdottir, K. V., De Vogli, R., & Wilkinson, R. (2016). Modelling and measuring sustainable wellbeing in connection with the UN Sustainable Development Goals. Ecological Economics, 130, 350–355. https://doi.org/10.1016/j.ecolecon.2016.07.009
Damas, D., Maghviroh, R. EL, & Meidiyah, M. (2021). PENGARUH ECO-EFFICIENCY, GREEN INOVATION DAN CARBON EMISSION DISCLOSURE TERHADAP NILAI PERUSAHAAN DENGAN KINERJA LINGKUNGAN SEBAGAI MODERASI. Jurnal Magister Akuntansi Trisakti, 8(2), 85–108. https://doi.org/10.25105/jmat.v8i2.9742
Duque‐Grisales, E., Aguilera‐Caracuel, J., Guerrero‐Villegas, J., & García‐Sánchez, E. (2020). Does green innovation affect the financial performance of Multilatinas? The moderating role of ISO 14001 and R&D investment. Business Strategy and the Environment, 29(8), 3286–3302. https://doi.org/10.1002/bse.2572
Durlista, M. A., & Wahyudi, I. (2023). PENGARUH PENGUNGKAPAN ENVIRONMENTAL, SOCIAL DAN GOVERNANCE (ESG) TERHADAP KINERJA PERUSAHAAN PADA PERUSAHAAN SUB SEKTOR PERTAMBANGAN BATU BARA PERIODE 2017-2022. Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA), 7(3), 210–232. https://doi.org/10.31955/mea.v7i3.3327
Epa Hardiyanti, S., & Hakim Aziz, L. (2021). The Case of COVID-19 impact on the level of non-performing loans of conventional commercial banks in Indonesia. Banks and Bank Systems, 16(1), 62–68. https://doi.org/10.21511/bbs.16(1).2021.06
Girindratama, M. W., & Rudiawarni, F. A. (2022). PENGARUH BUSINESS STRATEGY TERHADAP TAX PLANNING: PERAN FINANCIAL EXPERTISE DAN INSTITUTIONAL OWNEESHIP. Media Riset Akuntansi, Auditing & Informasi, 22(1), 65–90. https://doi.org/10.25105/mraai.v22i1.9958
Horne, V. J., & Wachowicz, J. M. (2005). Fundamentals of Financial Management (13th ed.). Pearson.
Hsu, P. H., Moore, J. A., & Neubaum, D. O. (2018). Tax avoidance, financial experts on the audit committee, and business strategy. Journal of Business Finance and Accounting, 45(9–10), 1293–1321. https://doi.org/10.1111/jbfa.12352
Husnaini, W., & Tjahjadi, B. (2020). QUALITY MANAGEMENT, GREEN INNOVATION AND FIRM VALUE: EVIDENCE FROM INDONESIA. International Journal of Energy Economics and Policy, 11(1), 255–262. https://doi.org/10.32479/ijeep.10282
Isbanah, Y. (2015). Pengaruh ESOP, leverage, and ukuran perusahaan terhadap kinerja keuangan perusahaan di bursa efek Indonesia. Jurnal Riset Ekonomi Dan Manajemen, 15(1), 28–41.
Kamran, M., Rafique, M. Z., Nadeem, A. M., & Anwar, S. (2023). Does Inclusive Growth Contribute Towards Sustainable Development? Evidence from Selected Developing Countries. Social Indicators Research, 165(2), 409–429. https://doi.org/10.1007/s11205-022-03020-6
Kuzey, C., & Uyar, A. (2017). Determinants of sustainability reporting and its impact on firm value: Evidence from the emerging market of Turkey. Journal of Cleaner Production, 143, 27–39. https://doi.org/10.1016/j.jclepro.2016.12.153
Li, L., Msaad, H., Sun, H., Tan, M. X., Lu, Y., & Lau, A. K. W. (2020). Green innovation and business sustainability: New evidence from energy intensive industry in China. International Journal of Environmental Research and Public Health, 17(21), 1–18. https://doi.org/10.3390/ijerph17217826
Liu, C., & Kong, D. (2021). Business strategy and sustainable development: Evidence from China. Business Strategy and the Environment, 30(1), 657–670. https://doi.org/10.1002/bse.2645
Maharani, S. N. (2014). Sustainability Reporting sebagai Media Perusahaan dalam Mengembangkan dan Melaporkan Kebijakan Bisnis Berkelanjutan. Jurnal Ekonomi Modernisasi, 11–22.
Maulidia, A. N., & Putri, K. A. S. (2023). GREEN MARKETING, BRAND IMAGE DAN PENGARUHNYA PADA KEPUTUSAN PEMBELIAN. Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA), 7(3), 383–398. https://doi.org/10.31955/mea.v7i3.3359
Melinda, A., & Wardhani, R. (2020). The Effect of Environmental, Social, Governance, and Controversies on Firms’ Value: Evidence from Asia (pp. 147–173). https://doi.org/10.1108/S1571-038620200000027011
Miles, R. E., Snow, C. C., Meyer, A. D., & Coleman, H. J. (1978). Organizational Strategy, Structure, and Process. Academy of Management Review, 3(3), 546–562. https://doi.org/10.5465/amr.1978.4305755
Porter, M. E., & Kramer, M. R. (2019). Creating Shared Value. In Managing Sustainable Business (pp. 323–346). Springer Netherlands. https://doi.org/10.1007/978-94-024-1144-7_16
Ramadhan, P., Rani, P., & Wahyuni, E. S. (2023). Disclosure of Carbon Emissions, Covid-19, Green Innovations, Financial Performance, and Firm Value. Jurnal Akuntansi Dan Keuangan, 25(1), 1–16. https://doi.org/10.9744/jak.25.1.1-16
Rosiana, D., 1, W., Wijayanti, A., & Masitoh, E. (2022). Issue 2 (2022) Pages 294-304 INOVASI: Jurnal Ekonomi. Keuangan Dan Manajemen, 18(2), 294. https://doi.org/10.29264/jinv.v18i2.10617
Shen, C., Li, S., Wang, X., & Liao, Z. (2020). The effect of environmental policy tools on regional green innovation: Evidence from China. Journal of Cleaner Production, 254, 120122. https://doi.org/10.1016/j.jclepro.2020.120122
Sukamulja, S. (2017). Initiatives for Financial Modeling and Capital Market Analysis. AND.
Tseng, M.-L., Wang, R., Chiu, A. S. F., Geng, Y., & Lin, Y. H. (2013). Improving performance of green innovation practices under uncertainty. Journal of Cleaner Production, 40, 71–82. https://doi.org/10.1016/j.jclepro.2011.10.009
Tu, Y., & Wu, W. (2021). How does green innovation improve enterprises’ competitive advantage? The role of organizational learning. Sustainable Production and Consumption, 26, 504–516. https://doi.org/10.1016/j.spc.2020.12.031
Yao, Q., Liu, J., Sheng, S., & Fang, H. (2019). Does eco-innovation lift firm value? The contingent role of institutions in emerging markets. Journal of Business & Industrial Marketing, 34(8), 1763–1778. https://doi.org/10.1108/JBIM-06-2018-0201
Zhang, J., Liang, G., Feng, T., Yuan, C., & Jiang, W. (2020). Green innovation to respond to environmental regulation: How external knowledge adoption and green absorptive capacity matter? Business Strategy and the Environment, 29(1), 39–53. https://doi.org/10.1002/bse.2349
Published
2024-06-10
How to Cite
Snae, A., & Setyowati, S. (2024). EFEK MODERASI TIPE STRATEGI PROSPECTOR PADA PENGARUH PRAKTIK GREEN INNOVATION TERHADAP NILAI PERUSAHAAN. Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA), 8(2), 902-917. https://doi.org/10.31955/mea.v8i2.4089
Section
Articles
Copyright (c) 2024 Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA)
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
