Mengintegrasikan Tanggung Jawab Sosial Perusahaan, Pengungkapan Emisi Karbon, dan Inovasi Hijau untuk Meningkatkan Kinerja Keuangan dan Nilai Perusahaan
DOI:
https://doi.org/10.47747/snfmi.v3i1.3164Abstract
Climate change and stakeholder pressures drive manufacturing companies to integrate sustainability practices into their business strategies. This study examines the integrative effect of Corporate Social Responsibility (CSR), carbon emission disclosure, and green innovation on the financial performance and firm value of manufacturing companies in the Makassar Industrial Zone. Data were collected through questionnaires distributed to company managers and analyzed using Structural Equation Modeling (SEM) with AMOS version 27. The results indicate that CSR has a positive and significant impact on both financial performance and firm value, directly and through mediating pathways. In contrast, carbon emission disclosure and green innovation do not have a significant effect on financial performance or firm value. Financial performance is proven to be a significant mediator in enhancing firm value. These findings emphasize the importance of CSR as a sustainability strategy capable of generating tangible economic impact, while carbon disclosure and green innovation require more strategic integration to create added value. This study provides a theoretical contribution by expanding the understanding of the role of CSR, environmental disclosure, and green innovation in improving company performance and value, as well as practical implications for developing sustainable business strategies in the manufacturing sector in Eastern Indonesia.
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