Pengaruh Green Product Innovation terhadap Nilai Perusahaan melalui Return on Asset

Muhammad Ihtifazhuddin Rizki Fathoni; Yogeswari Sista Shintyamani; Wiwiek Dianawati

doi:10.37859/jae.v15i1.8812

Authors

Muhammad Ihtifazhuddin Rizki Fathoni Universitas Airlangga
Yogeswari Sista Shintyamani Universitas Airlangga
Wiwiek Dianawati Universitas Airlangga

DOI:

https://doi.org/10.37859/jae.v15i1.8812

Keywords: Green Product Innovation, Firm Value, Return on Asset, Tobin's Q

Abstract

This study explores how environmentally sustainable product innovations contribute to enhancing a company's market valuation, with Return on Assets (ROA) serving as an intervening variable. Adopting a quantitative research design, the analysis draws upon a purposively selected sample of 431 manufacturing companies listed on the Indonesia Stock Exchange (IDX) during the 2015–2017 period. The dataset was examined through the Partial Least Squares (PLS) approach, facilitated by WarpPLS version 5.0. The findings reveal that innovations aligned with environmental sustainability have a statistically significant and favorable impact on both ROA and firm valuation.

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