The Effect of Profitability and Green Accounting on Stock Prices of Energy Sector Companies Listed on the Indonesia Stock Exchange in 2022-2024
Keywords:
Stock Price, Return on Assets, Green AccountingAbstract
This study aims to examine the effect of profitability, proxied by Return on Assets (ROA), and green accounting on stock prices of energy sector companies listed on the Indonesia Stock Exchange for the 2022-2024 period. The background of this research is motivated by inconsistencies in previous research results and the increasing awareness of investors towards sustainability issues, particularly in the energy sector which has significant environmental impacts. The research method uses a quantitative associative approach with samples selected through purposive sampling technique. Data were analyzed using panel data regression with the Random Effect Model (REM). The results showed that partially, ROA has a positive and significant effect on stock prices, while green accounting has no significant effect. The coefficient of determination value indicates that there are still various other variables outside the model that affect stock prices. The implication of this research provides an understanding that investors in the Indonesian capital market currently still prioritize financial fundamentals over environmental issues in investment decision making.
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