文章基本信息

标题：The Effect of Gas Emission Disclosure, Solid Waste Disclosure, and Effluent Disclosure on Firm Value
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作者：Hilaryo Julansa ; Hilaryo Julansa ; Zuraida Z 等
期刊名称：International Journal of Academic Research in Business and Social Sciences
电子版ISSN：2222-6990
出版年度：2020
卷号：10
期号：6
页码：449-475
DOI：10.6007/IJARBSS/v10-i6/7315
语种：English
出版社：Human Resource Management Academic Research Society
摘要：The purpose of this study is to examine the relationship between the disclosure of waste information and the firm value in Indonesian’s PROPER participant companies listed in Indonesia stock exchange. The waste information is examined by expanding waste components more specifically that is gas emission, solid waste, and liquid waste (effluent). The firm value is examined from an economic perspective by using the stock price. This research uses modified Ohlson valuation model with regression of panel data to analyze the PROPER participant companies listed in the Indonesia Stock Exchange during the years 2016-2018. To identify the waste information disclosure, this paper develops the quantified measurement based on content analysis from the company’s Annual Report adopted from prior research. Consistent with the signaling theory, this research empirically generates findings that the disclosure of gas emission, solid waste, and effluent by the company, either together or separately, have a positive relationship towards the price of the company's stock. This shows that the market gives a positive reaction to companies that voluntarily disclose their waste information, so the waste information disclosure considered to be a "good news" for the company in the capital market.