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Volume 23 No. 1, April 2024

 

ARTICLE INFO
Article History:
Received: 30 October 2023
Accepted: 02 February 2024
Available online: 01 April 2024

MANAGEMENT AND ACCOUNTING REVIEW, VOLUME 23 NO. 1, APRIL 2024

Environmental Disclosure as Legitimacy and Agency Tools for Indonesian Oil, Gas, and Mining Companies: Determinants and Impact During the Extraordinary Events


Andian Ari Istiningrum and Ibnu Lukman Pratama

School of Oil and Gas Logistics, Energy and Mineral Polytechnique, Cepu, Indonesia



ABSTRACT

This research aimed to determine the factors affecting the oil, gas, and mining companies in disclosing their environmental responsibility during the pandemic and its impact to company value. The research was conducted on energy sector companies with 36 companies chosen as sample. The results provided empirical evidence that environmental performance and profitability were significant predictors of environmental disclosure with the p-value of 0.042 and 0.035, whereas the size of companies was not a factor affecting environmental disclosure since its p-value was 0.588. However, environmental disclosure, profitability, and size of companies were not significant predictors of the value of companies with the p-values respectively being 0.951, 0.838, and 0.829. In addition, environmental disclosure was proven not to be an intervening variable between environmental performance, profitability, and size of the company towards company values with the p-values respectively being 0.959, 0.962, and 0.977. This research indicated that companies were experiencing problems to run environmental performance during the pandemic, but they still had the responsibility to disclose their poor performance to investors and society. However, investors had different views since they tended to look at environmental disclosure, environmental performance, and other company characteristics as factors to consider in deciding investment alternatives during the pandemic.


Keywords: Environmental, Financial, Performance, Disclosure, Value
Corresponding Author: Andian Ari Istiningrum; Energy and Mineral Polytechnique; Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

 

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