From Sustainability Practices to Corporate Value: The Roles of ESG, Green Accounting, Intellectual Capital, and Audit Committee Expertise

Mohamad Vigu  Gonzales; Imam Hidayat

doi:10.55980/ebasr.v5i2.390

Authors

Mohamad Vigu Gonzales Faculty of Economics and Bussines, Muhammadiyah university of Tangerang, Tangerang, Indonesia
Imam Hidayat Faculty of Economics and Bussines, Muhammadiyah university of Tangerang, Tangerang, Indonesia

DOI:

https://doi.org/10.55980/ebasr.v5i2.390

Keywords:

ESG, Green Accounting, Intellectual Capital, Audit Committee Expertise, Firm Value

Abstract

This study examines the associations of environmental, social, and governance (ESG) performance, green accounting, and intellectual capital with firm value, and assesses whether audit committee expertise moderates these relationships. The analysis uses 70 firm-year observations from 14 manufacturing firms listed on the Indonesia Stock Exchange during 2020–2024. Secondary data were analyzed using regression models with interaction terms. The reported results indicate a positive association between ESG performance and firm value and a negative association between green accounting and firm value. Intellectual capital has no statistically significant direct association with firm value. Audit committee expertise does not significantly moderate the ESG–firm value relationship. Its interaction with green accounting is positive but does not meet the 5% significance threshold, whereas its interaction with intellectual capital is negative and statistically significant. These findings suggest that the market valuation of sustainability practices and knowledge-based resources may differ, and that audit committee expertise does not have a uniform moderating role across them. The study contributes evidence from Indonesian manufacturing firms, subject to verification of the reported regression statistics.

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