Pengaruh Keunggulan Kompetitif Hijau, Inovasi Hijau, dan Pertumbuhan Penjualan terhadap Nilai Perusahaan
DOI:
https://doi.org/10.33753/madani.v8i2.432Keywords:
Firm Value, Green Advantage, Innovation, Sales GrowthAbstract
This study aims to analyze the effect of green competitive advantage, green innovation, and sales growth on firm value, while considering leverage and firm size as control variables in energy sector companies listed on the Indonesia Stock Exchange (IDX) during the 2021–2023 period. This research employs a quantitative approach using secondary data obtained from the annual reports of 40 energy companies. The sampling technique used is purposive sampling, and the data were analyzed using panel data regression with the aid of EViews software. The results show that green competitive advantage, green innovation, and sales growth have a positive and significant effect on firm value. These findings indicate that sustainability-oriented and environmentally innovative business strategies can enhance investor perceptions and increase overall firm value. This study is expected to serve as a reference for companies in strengthening their sustainability strategies and for investors in considering environmental and innovation aspects as a basis for investment decision-making.
Abstrak
Penelitian ini bertujuan untuk menganalisis pengaruh keunggulan kompetitif hijau, inovasi hijau, dan pertumbuhan penjualan terhadap nilai perusahaan, dengan mempertimbangkan leverage dan ukuran perusahaan sebagai variabel kontrol pada perusahaan sektor energi yang terdaftar di Bursa Efek Indonesia (BEI) selama periode 2021–2023. Penelitian ini menggunakan metode kuantitatif dengan data sekunder yang diperoleh dari laporan tahunan 40 perusahaan energi. Teknik pengambilan sampel menggunakan purposive sampling, sedangkan analisis data dilakukan menggunakan regresi data panel dengan bantuan perangkat lunak EViews. Hasil penelitian menunjukkan bahwa keunggulan kompetitif hijau, inovasi hijau, dan pertumbuhan penjualan berpengaruh positif dan signifikan terhadap nilai perusahaan. Hal ini mengindikasikan bahwa strategi bisnis yang berorientasi pada keberlanjutan dan inovasi lingkungan mampu meningkatkan persepsi investor serta nilai perusahaan secara keseluruhan. Temuan ini diharapkan dapat menjadi referensi bagi perusahaan dalam memperkuat strategi keberlanjutan, serta bagi investor dalam mempertimbangkan aspek lingkungan dan inovasi sebagai dasar pengambilan keputusan investasi.
Kata Kunci: Nilai Perusahaan, Keunggulan Hijau, Inovasi, Pertumbuhan Penjualan
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