Jakman

Article Details

Vol. 7 No. 2 (2026): Maret

Articles

The Effect of Carbon Emission Disclosure, Environmental Performance, and Firm Size on Profitability

P Priscilia Christie Lee R Rousilita Suhendah
12 March 2026 Vol. 7 No. 2 (2026): Maret https://doi.org/10.35912/jakman.v7i2.5749
Abstract

Purpose: This study examines the effects of carbon emissions disclosure, environmental performance, and firm size on profitability.

Research Methodology: Nineteen companies were selected as samples using purposive sampling. The study used secondary data sourced from the annual reports and sustainability reports of each company and analyzed using a multiple linear regression approach with a fixed-effects model using Microsoft Excel and EViews 12 software.

Results: The results of the research analysis indicate that carbon emission disclosure has a negative effect, environmental performance has no significant effect, while firm size has a positive effect on profitability in Indonesian mining companies.

Conclusions: Regression analysis shows that carbon emissions disclosure (X1) has a negative effect, environmental performance (X2) has no significant effect, and firm size (X3) has a positive effect on profitability.

Limitations: This study is limited to three independent variables, an observation period of 2021–2023, and a focus on the mining sector; therefore, the results cannot be generalized to other sectors.

Contributions: This research is expected to benefit companies in making strategic decisions related to sustainability, investors in evaluating financial and non-financial performance, academics in enriching the literature on factors that influence profitability, and further researchers in expanding the variables, sectors, and research periods.

Keywords: Carbon Emission Disclosure Environmental Performance Firm Size Profitability
How to Cite
“
Lee, P. C., & Suhendah, R. (2026). The Effect of Carbon Emission Disclosure, Environmental Performance, and Firm Size on Profitability. Jurnal Akuntansi, Keuangan, Dan Manajemen, 7(2), 289–300. https://doi.org/10.35912/jakman.v7i2.5749
Endnote/Zotero/Mendeley (RIS) BibTeX
References
  1. Abeyrathna, S., & Priyadarshana, A. (2019). Impact of Firm size on Profitability. International Journal of Scientific and Research Publications, 9(6), 561-564. doi:https://doi.org/10.29322/ijsrp.9.06.2019.p9081
  2. Agustiningsih, W., & Septiani, N. D. (2022). Pengaruh ukuran perusahaan, leverage, dan profitabilitas terhadap nilai perusahaan. Fair Value: Jurnal Ilmiah Akuntansi Dan Keuangan, 5(3), 1433-1440. doi:https://doi.org/10.32670/fairvalue.v5i3.2465
  3. Anthoni, D. F., & Cerya, E. (2025). The Influence of Environmental Accounting, Environmental Performance, and CSR on the Financial Performance of Manufacturing Companies Listed on the Indonesia Stock Exchange from 2019-2022. Jurnal Economic Resource, 8(2), 1134-1145. doi:https://doi.org/10.57178/jer.v8i2.1614
  4. Aulia, R., & Hadinata, S. (2019). Pengaruh environmental performance, environmental disclosure, dan ISO 14001 terhadap financial performance. Jurnal Akuntansi, Ekonomi dan Manajemen Bisnis, 7(2), 136-147. doi:https://doi.org/10.30871/jaemb.v7i2.1439
  5. Bae Choi, B., Lee, D., & Psaros, J. (2013). An analysis of Australian company carbon emission disclosures. Pacific Accounting Review, 25(1), 58-79. doi:https://doi.org/10.1108/01140581311318968
  6. Bergh, D. D., Ketchen Jr, D. J., Orlandi, I., Heugens, P. P., & Boyd, B. K. (2019). Information asymmetry in management research: Past accomplishments and future opportunities. Journal of Management, 45(1), 122-158. doi:https://doi.org/10.1177/0149206318798026
  7. Budiman, L., Yadiati, W., & Abdul Hasyir, D. (2024). Uji Teori Institusional: Pengungkapan Emisi Karbon, Leverage, Profitabilitas, dan Nilai Perusahaan. Jurnal Akuntansi, Keuangan, dan Manajemen, 5(4), 383-399. doi:https://doi.org/10.35912/jakman.v5i4.3432
  8. Chandra, A., Wijaya, F., Angelia, A., & Hayati, K. (2020). Pengaruh Debt to Equity Ratio, Total Assets Turnover, Firm Size, dan Current Ratio terhadap Return on Assets. Jurnal Akuntansi, Keuangan dan Manajemen, 2(1), 57-69. doi:https://doi.org/10.35912/jakman.v2i1.135
  9. Chudy-Laskowska, K., & Rokita, S. (2024). Profitability of Energy Sector Companies in Poland: Do Internal Factors Matter? Energies, 17(20), 5135. doi:https://doi.org/10.3390/en17205135
  10. Dohrmann, M., Martinez?Blasco, M., Moring, A., & Margarit, J. C. (2024). Environmental performance and firm performance in Europe: The moderating role of board governance. Corporate Social Responsibility and Environmental Management, 31(6), 5863-5880. doi:https://doi.org/10.1002/csr.2898
  11. Dowling, J., & Pfeffer, J. (1975). Organizational legitimacy: Social values and organizational behavior. Pacific sociological review, 18(1), 122-136. doi:https://doi.org/10.2307/1388226
  12. Fitri, R. L., & Suhendro, S. (2025). Pengaruh Aspek Lingkungan terhadap Profitabilitas Perusahaan Peserta PROPER di Bursa Efek Indonesia. Jurnal Ekonomika Dan Bisnis (JEBS), 5(4), 795–801. doi:https://doi.org/10.47233/jebs.v5i4.3373
  13. Ghozali, I., & Ratmono, D. (2017). Analisis multivariat dan ekonometrika: teori, konsep, dan aplikasi dengan eview 10.
  14. Handoyo, F., Akram, A., & Nurabiah, N. (2022). Pengaruh Kinerja Lingkungan Dan Pengungkapan Lingkungan Terhadap Profitabilitas Perusahaan (Studi Pada Perusahaan Pertambangan Yang Terdaftar Di BEI Tahun 2017-2021). Jurnal Riset Akuntansi Aksioma, 21(2), 107-117. doi:https://doi.org/10.29303/aksioma.v21i2.169
  15. Jubaedah, S., & Setiawan, D. (2023). The effect of ownership structure on social and environmental disclosure in Indonesia. Diponegoro International Journal of Business, 6(1), 24-35. doi:https://doi.org/10.14710/dijb.6.1.2023.24-35
  16. Kodriyah, K., Kurnia, D., Sa’adah, I. N., & Kholiyah, Y. (2023). Nilai Perusahaan, Kinerja Lingkungan dan Konservatisme Akuntansi. Jurnal Akuntansi, Keuangan, dan Manajemen, 4(2), 141-152. doi:https://doi.org/10.35912/jakman.v4i2.1768
  17. Mahrani, M., & Soewarno, N. (2018). The effect of good corporate governance mechanism and corporate social responsibility on financial performance with earnings management as mediating variable. Asian Journal of Accounting Research, 3(1), 41-60. doi:https://doi.org/10.1108/AJAR-06-2018-0008
  18. Mardaningsih, D., Nurlaela, S., & Wijayanti, A. (2021). Pengaruh leverage, likuiditas, firm size dan sales growth terhadap kinerja keuangan pada perusahaan lq45. Inovasi: Jurnal Ekonomi, Keuangan, Dan Manajemen, 17(1), 46-53. doi:https://doi.org/10.30872/jinv.v17i1.9133
  19. Maulana, B. D., & Rahayu, Y. (2022). Pengaruh Ukuran Perusahaan, Likuiditas, Dan Leverage Terhadap Profitabilitas. Jurnal Ilmu Dan Reset Akuntansi, 11(11), 1-14.
  20. Nelson, A., Junaidi, J., & Sentoso, A. (2025). The Impact Of Green Human Resource Management to Environmental Performance. Jurnal Akuntansi, Keuangan, dan Manajemen, 6(3), 603-617. doi:https://doi.org/10.35912/jakman.v6i3.3898
  21. Prasetyo, M. H., Baderan, D. W. K., & Hamidu, M. S. (2025). Dampak Kerusakan Lingkungan Akibat Eksploitasi Sumber Daya Mineral dari Kegiatan Pertambangan. Hidroponik: Jurnal Ilmu Pertanian Dan Teknologi Dalam Ilmu Tanaman, 2(2), 01-11. doi:https://doi.org/10.62951/hidroponik.v2i2.328
  22. Qasem, A., AL-Duais, S. D., Wan-Hussin, W. N., Bamahros, H. M., Alquhaif, A., & Thomran, M. (2022). Institutional ownership types and ESG reporting: the case of Saudi listed firms. Sustainability, 14(18), 11316. doi:https://doi.org/10.3390/su141811316
  23. Ridhwan, A., & Dwiati, A. R. (2022). Pengaruh profitabilitas, leverage dan ukuran perusahaan terhadap kebijakan dividen. Jurnal Akuntansi, Keuangan dan Manajemen, 3(3), 195-206. doi:https://doi.org/10.35912/jakman.v3i3.797
  24. Rodríguez-Olalla, A., & Avilés-Palacios, C. (2017). Integrating sustainability in organisations: An activity-based sustainability model. Sustainability, 9(6), 1072. doi:https://doi.org/10.3390/su9061072
  25. Shibutse, R., Kalunda, E., & Achoki, G. (2019). Effect of leverage and firm size on financial performance of deposit taking savings and credit cooperatives in Kenya. International Journal of Research in Business and Social Science, 8(5), 182-193. doi:https://doi.org/10.20525/ijrbs.v8i5.462
  26. Siddique, M. A., Akhtaruzzaman, M., Rashid, A., & Hammami, H. (2021). Carbon disclosure, carbon performance and financial performance: International evidence. International Review of Financial Analysis, 75, 101734. doi:https://doi.org/10.1016/j.irfa.2021.101734
  27. Xu, A., Su, Y., Wang, Y., & Liao, J. (2025). Carbon information disclosure and corporate financial performance—Empirical evidence based on heavily polluting industries in China. PLoS One, 20(1), e0313638. doi:https://doi.org/10.1371/journal.pone.0313638
  28. Yuan, K.-H., & Liu, F. (2021). Which method is more reliable in performing model modification: Lasso regularization or Lagrange multiplier test? Structural Equation Modeling: A Multidisciplinary Journal, 28(1), 69-81. doi:https://doi.org/10.1080/10705511.2020.1768858
  29. Yuliandhari, W. S., & Ramadhanty, R. A. (2024). Pengaruh Carbon Emission Disclosure, Carbon Performance, dan Green Intellectual Capital Terhadap Kinerja Keuangan Perusahaan. Jurnal Ilmiah Akuntansi ’45, 5(2), 499-517. doi:https://doi.org/10.30640/akuntansi45.v5i2.3372
  30. Zavalii, T., Zhyhlei, I., Ivashko, O., & Kornatka, A. (2025). Does size determine financial performance of advertising and marketing companies? Evidence from Western Europe on SDGs. Sustainability, 17(13), 5812. doi:https://doi.org/10.3390/su17135812
License & Copyright
Creative Commons License

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.