Carbon Emission Disclosure: Media Exposure, Profitability, and Company size Moderation in Mining

This study intends to investigate the variables, namely company size, profitability, leverage, media exposure, environmental performance, and green strategy, that affect the disclosure of carbon emissions in Indonesia's energy companies that are listed in the Indonesia Stock Exchange (IDX) in 2019-2021 that disclose carbon emission implicit/explicitly. This study used quantitative research method using secondary data obtained from Indonesia Stock Exchange (www.idx.co.id) and the company's website. The company size is measured using total assets natural logarithms of nominal value, whereas profitability is measured using Return on Assets (ROA). The leverage is measured using Debt to Equity Ratio (DER), while the media exposure instrument was dummy variable. The environmental performance is measured using PROPER results from the annual and sustainability report. Measurement of green strategy is done using the Ohlson (2008) index and the carbon emission disclosure is measured using Carbon Disclosure Project (CDP) checklist. The samples are applied using non-probability sampling with purposive sampling technique accompanied by predetermined criteria, with a final sample of 13 energy companies listed in Indonesia Stock Exchange (IDX) and 39 observations during the years 2019-2021. The result of this study provides empirical evidence that media exposure, environmental performance, and green strategy have a positive significant effect on carbon emission disclosure, whereas company size, profitability, and leverage do not have significant effect on carbon emission disclosure.

Annual Reporting is a media for companies that initially only report financial aspects, but now also report on social and environmental aspects. The shift in determining the value of this company along with the emergence of issues of natural and environmental damage. Environmental issues are increasing, accounting also evolves by giving birth to the concept of green accounting and sustainability reporting.This study aims to analyze the effect of PROPER, media exposure, company size, profitability and leverage on Carbon Emission Disclosure. The population in this study is a participant company PROPER 2014-2017. The results of this study show that PROPER, Media Exposure, and Profitability have a significant positive effect on Carbon Emission Disclosure, while company size and leverage do not have a significant effect on Carbon Emission Disclosure. Keywords : Carbon Emission Disclosure, PROPER, Media Exposure, Company Size, Profitability, and Leverage. DOI : 10.7176/RJFA/10-12-08 Publication date :June 30 th 2019

This research analyses the effect of institutional ownership in strengthening the effect of environmental performance, regulators, and media exposure on carbon emissions disclosure. By using certain criteria in sampling, the unit of analysis was obtained from as many as 57 companies. The research focused on mining, basic industry, and chemical companies listed on the Indonesia Stock Exchange in 2018-2020. Hypothesis testing was carried out using moderated regression analysis which was strengthened by descriptive analysis for each research variable. In general, it is found that the carbon emissions disclosure in the research object is classified as low, with an average disclosure of 7-8 items out of 18 items that must be disclosed in the report. Hypothesis testing shows that environmental performance and media exposure have a positive effect on carbon emissions disclosure, while regulators have no effect on carbon emissions disclosure. The presence of institutional ownership as a moderating variable was found to be able to strengthen the influence of regulators in increasing the carbon emissions disclosure, but not able to strengthen the effect of environmental performance and media exposure on the carbon emissions disclosure. This research contributes to regulators, developing standards for carbon emissions disclosure for companies that go public. Further researchers are expected to add other variables that can affect the carbon emissions disclosure and increase the research period to get more accurate results.

This study aims to determine the effect of Media Exposure on Carbon Emission Disclosure, Environmental Performance on Carbon Emission Disclosure, Company Growth on Carbon Emission Disclosure This type of research is quantitative research with an associative approach. The population in this study are LQ45 index companies listed on the Indonesia Stock Exchange in 2019-2023 by taking Sustainability Report and Annual Report for the 2019-2023 period using purposive sampling. The sample of this study is LQ45 companies listed on the Indonesia Stock Exchange (BEI) in 2019-2023. The population used in this study were 65 companies with a selected sample of 20 companies with a total of 100 data observations. This study uses four variables, namely Media Exposure, Environmental Performance, and Company Growth as independent variables while the dependent variable is Carbon Emission Disclodure. The test used is panel data regression analysis using the Eviews 12 program. The results of this study indicate that the Media Exposure and company growth variables have no effect on Carbon Emission Disclosure, the results of this study indicate that the Environmental Performance variable has an effect on Carbon Emission Disclosure. Simultaneously, the results of this study indicate that Media Exposure, Environmental Performance, and Company Growth together have an effect on Carbon Emission Disclosure.

This study aims to examine the effects of carbon emission disclosure, environmental performance, and profitability on firm value, as well as the moderating role of media exposure in Indonesian energy companies. The research uses secondary data from annual reports and sustainability reports of 20 energy companies listed on the Indonesia Stock Exchange for the 2020–2024 period. Data analysis is conducted using Structural Equation Modeling–Partial Least Squares (SEM-PLS). The results show that carbon emission disclosure, environmental performance, and profitability significantly affect firm value. Media exposure strengthens the influence of carbon emission disclosure on firm value, but does not moderate the effects of environmental performance or profitability. In addition, media exposure itself does not directly affect firm value. These findings highlight the importance of transparent carbon emission disclosure and profitability in enhancing firm value, while media exposure is more effective when amplifying substantive environmental disclosure.

The purpose of this study is to analyze the effect of media exposure, company size, profitability, and leverage on carbon emission disclosures. This research is research using descriptive methods with quantitative analysis using secondary data. The sample for this research is non-cyclical consumer sector companies listed on the Indonesia Stock Exchange (IDX) for the 2019-2021 period. The sampling technique in this study was purposive sampling. The independent variables used in this study are the Effect of Media Exposure, Firm Size, Profitability, and Leverage. The dependent variable used in this study is Carbon Emission Disclosure. The data analysis technique used is multiple linear analysis. By processing data using Eviews 9. Based on the test results, media exposure and leverage have a positive effect on carbon emission disclosure. While company size and profitability have no effect on carbon emission disclosure. So with this, it is hoped that the next researcher can add other independent variables that are not used in this research. Keywords: Media Exposure, Company Size, Profitability, Leverage, Carbon Emission Disclosure.

The Effect of Media Exposure, Type of Companies, and Environmental Performance on Carbon Emission Disclosure (CED) in Indonesian Companies (Empirical Studies on Manufacturing Companies Listed on The Indonesia Stock Exchange for the 2016-2018 Period). This study aimed to obtain empirical evidence regarding the effect of Media Exposure, Type of Companies, and Environmental Performance on the disclosure of carbon emissions in manufacturing companies in Indonesia. Measurement of the extent of carbon disclosure was done using a checklist developed based on the information request sheet provided by the CDP (Carbon Disclosure Project). The populations of this study were all manufacturing companies listed on the Indonesia Stock Exchange from 2016 to 2018. The samples of this research were taken from manufacturing companies listed on the Indonesia Stock Exchange from 2016 to 2018 using the purposive sampling method. There were 15 companies in 2016, 15 companies in 2017, and 15 companies in 2018 that met the criteria as research samples. The classic assumption test was performed for data analysis, and regression analysis was conducted for hypothesis testing. The results of this study indicate that Media Exposure affects the disclosure of corporate carbon emissions in Indonesia, while the Type of Companies and Environmental Performance had no effect on the disclosure of corporate carbon emissions in Indonesia.

Carbon emissions accounting disclosure (CEAD) is an interesting research area that is related to the increase in global warming that is being caused by the use of non-renewable energy. However, there has been no research that has tested the disclosure of carbon emissions during the COVID-19 pandemic using a comprehensive model. Apart from that, there is still limited previous research that focuses on developing countries where the use of fossil-based energy has become an important issue at the moment. In this sense, this study aims to contribute to CEAD by analyzing earnings management, corporate governance, and media exposure as determinants of CEAD in Indonesia, a developing country. The sample consists of 244 firm-year manufacturing companies listed on the Indonesia Stock Exchange (IDX) during the 2020-2022 period. The test results, using partial least squares-structural equation modeling (PLS-SEM), indicate support for legitimacy theory, namely the view that corporate governance and media exposure have a positive effect on the level of CEAD. Drawn from the COVID-19 pandemic period, the empirical evidence from this study shows that the sample of manufacturing companies tended to carry out income-increasing earnings management and the disclosure of carbon emissions tended to be low.

This study focuses on Steam Power Plant companies (PLTU) in Serang Regency (Suralaya Power Plant, Jawa 7 Power Plant, and Merak Energi Indonesia Power Plant). It investigates the impact of sustainable strategies, specifically energy management and carbon emission disclosure, on company performance. The data was obtained by distributing questionnaires to 270 respondents, which were subsequently analyzed using the Partial Least Square-Structural Equation Modeling (PLS-SEM) approach. The direct analysis shows that green manufacturing not significantly affect company performance, conversely, energy management significantly improves company performance, green manufacturing significantly influences carbon emission disclosure. Energy management also contributes to higher carbon emission disclosure, and carbon emission disclosure positively affects company performance, emphasizing the benefits of transparency for stakeholder trust and operational efficiency. Indirect effects reveal that green manufacturing and energy management positively impact company performance through carbon emission disclosure. This research offers insights for PLTU companies in Serang Regency. Sustainable strategies focusing on energy management and carbon emission disclosure enhance company performance and transparency. Further investigation is needed to understand complex relationships, considering external factors and specific management practices. These findings provide significant insights but are part of the broader puzzle in achieving sustainable business practices and superior performance.

This study aims to examine and analyze the effect of profitability, leverage, media exposure on the disclosure of emissions with environmental performance as a moderating variable. The type of data used is quantitative data in the form of annual reports and sustainability reports. The object of research is mining companies listed on the Indonesia Stock Exchange (IDX) for the 2014-2019 period. Technical data analysis using multiple linear regression and Moderated Regression Analysis (MRA). The results showed that profitability did not have a significant effect on carbon emissions disclosure. The size of the profitability does not affect the company's carbon emissions disclosure. Leverage has a negative effect on disclosure of carbon emissions. Media exposure has a positive effect on disclosure of carbon emissions. Companies will increasingly carbon emissions disclosure through the media to get a positive response from the public. Environmental performance weakens the relationship between profitability and media exposure on carbon emissions disclosure, but strengthens the effect of leverage on carbon emissions disclosure.

The purpose of the study is to ascertain the influence of profitability, company size, media exposure and leverage on carbon emission disclosure. Previous research, carbon emission disclosures have not been consistent, so it is worth testing again. The novelty of the study, added the factor of media exposure. Measurement of carbon emission disclosure using information disclosure index based on CDP. The research method uses multiple linear regression. Data was collected from 37 companies in the agriculture and mining sectors in the 2019-2022 annual report. In this case, Return on Assets (ROA), Total Assets Value and high media exposure affect the disclosure of carbon emissions. Meanwhile, a high Debt to Assets Ratio (DAR) has no influence on carbon emission disclosure. The findings show agricultural and mining companies that disclose carbon emissions are affected by high profitability, large company size, and high media exposure. Companies that use leverage, meanwhile, cannot influence carbon emissions disclosure.

The objective of this research is to investigate how publicizing carbon emissions, implementing eco-friendly innovations, and gaining media coverage can impact the overall worth of a company. The study involved an examination of yearly reports, sustainability reports, and company websites belonging to energy sector businesses trading on the Indonesia Stock Exchange from 2019 to 2023. This research examined 16 energy sector companies listed on the Indonesia Stock Exchange between 2019 and 2023, using a purposive sampling method. The study relied on secondary data, including annual reports, sustainability reports, and the official websites of the selected companies. This study utilizes several variables, including Carbon Emissions Disclosure (X1) as the first independent variable, Green Innovation (X2) as the second independent variable, and Media Exposure (X3) as the third independent variable. Meanwhile, Firm Value (Y) serves as the dependent variable. In this study, the research methodology involves utilizing panel data regression. EViews 12 Student Version Lite software is employed to analyze the research findings. It was determined that the Common Effect Model (CEM) performed the best among all the models evaluated. The findings of this study reveal that Carbon Emissions Disclosure, when considered individually, does not influence Firm Value. Green Innovation, on the other hand, has a partial effect on Firm Value, while Media Exposure shows no partial impact. However, when analyzed simultaneously, Carbon Emissions Disclosure, Green Innovation, and Media Exposure collectively influence Firm Value.

This research aims to empirically test the influence of industry type, media exposure, environmental performance, and leverage on carbon emissions disclosure. This research uses a quantitative approach with a population of energy sector companies listed on the Indonesia Stock Exchange in the 2019-2020 period. The research sample was obtained as many as 80 samples using purposive sampling technique. Secondary data was obtained from annual reports, sustainability reports and PROPER reports. Data analysis includes descriptive statistics, classical assumption test, multiple linear regression, R² test, F test, and t test. Industry type has a influence on carbon emissions disclosure, while media exposure, environmental performance, and leverage have no influence on carbon emissions disclosure. The suggestion from this research is to use wider data sources, including Issuer Performance Sites, for more complete data and expand the media exposure measurement method with content analysis from social media for a more accurate picture.

This study analyzes the effect of green accounting, carbon emission disclosure, and environmental performance on firm value. The research is motivated by growing awareness of environmental sustainability, climate change concerns, and the demand for corporate transparency and accountability in managing environmental impacts. Firms are expected not only to achieve financial goals but also to actively manage environmental responsibilities to create long-term value for stakeholders. The research sample consists of 64 manufacturing companies listed on the Indonesia Stock Exchange (IDX) during 2021–2023 that meet the purposive sampling criteria and provide complete sustainability and annual reports. A quantitative approach is used with secondary data from annual and sustainability reports. The independent variables are green accounting (X1), carbon emission disclosure (X2), and environmental performance (X3), while the dependent variable is firm value (Y), measured by Tobin’s Q ratio. Multiple linear regression analysis is applied along with classical assumption testing to ensure reliability, followed by partial and simultaneous hypothesis testing. The results indicate that green accounting has no significant effect on firm value, implying that adopting green accounting alone may not influence investor perceptions without broader environmental initiatives. Conversely, carbon emission disclosure and environmental performance have a positive and significant effect on firm value, showing that transparent reporting and measurable environmental improvements can strengthen market confidence. The R² value is 4.4%, suggesting other factors also contribute to firm value. Simultaneously, all three variables significantly affect firm value, highlighting the combined importance of environmental responsibility. The findings provide practical insights for managers, investors, and policymakers: implementing sustainability practices, particularly carbon emission disclosure and improved environmental performance, can enhance investor trust, strengthen corporate reputation, and ultimately increase firm value in the competitive market.

This study analyzed the effects of company size, leverage level, profitability, and company age on carbon emissions disclosure and sustainability reporting and the implications thereof on investor reactions. The manufacturing and mining companies listed on the Indonesian and Malaysian stock exchanges from 2017 to 2019 supplied the sample of this research. The analysis used the partial least squares approach to structural equation modeling. The results show that firm size and leverage significantly affect carbon emissions disclosure in Indonesia and Malaysia. Profitability and company age have no impact on carbon emissions disclosure in Indonesia. In Malaysia, profitability and company age do have a significant positive effect on carbon emissions disclosure. Company size has no effect in Indonesia, while in Malaysia, company size has a negative effect on sustainability reporting. Leverage level and company age have a significant positive effect on sustainability reporting in Indonesia, while in Malaysia, a company’s level of leverage and age have no impact on sustainability reporting. Profitability has a significant effect on the sustainability report in Indonesia, while in Malaysia, profitability has a significant positive impact on the sustainability report. Company size does not affect investors' reactions in Indonesia, while company size has a significant negative effect on Malaysian. A company’s level of leverage, profitability, and age do not affect investors' reactions. Carbon emissions disclosure has a significant positive effect on investors' responses in Indonesia, while in Malaysia, carbon emissions disclosure has no impact on investors' reactions. The sustainability report has a significant positive effect on investors' responses.