Observational analysis finds carbon disclosure negatively impacts firm value in manufacturing firms, highlighting the role of state ownership.
Key Points
Carbon disclosure has a negative and significant effect on firm value, revealing important implications for corporate practices.
Integrated reporting shows a negative but insignificant effect on firm value among manufacturing companies in Indonesia's stock market.
The analysis employs agency and legitimacy theory to examine the relationship between reporting and firm value dynamics.
State ownership acts as a moderating factor in the relationship between green competitive advantage and firm value, suggesting complexities in corporate governance.