Abstract
This paper investigates the intricate relationship between eco-efficiency and firm value, exploring how eco-efficient practices contribute to firm value. Drawing from a comprehensive review of literature, the study delves into theoretical frameworks such as the natural-resource-based view and stakeholder theory, elucidating their relevance in understanding this relationship. Findings reveal a nuanced interplay between eco-efficiency and firm value, with moderating factors like profitability and leverage shaping the outcome. Additionally, eco-innovation emerges as a key mediator, influencing the relationship between firm resources, competitive advantages, and environmental impacts. While some studies report a positive association between eco-efficiency and firm value, others highlight complexities and variations across industries and contexts. Overall, this research underscores the importance of considering contextual factors and industry dynamics in comprehensively understanding the eco-efficiency-firm value nexus. KEY WORDS: Eco-Efficiency, Firm Value, Eco-Innovation
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