The Effect of Green Accounting and Intellectual Capital on the Financial Performance of Companies in the Consumer Non-Cyclicals Sector Listed on the Indonesia Stock Exchange

Financial performance in companies in the consumer non-cyclicals sector continues to fluctuate, indicating differences in companies' ability to generate profits. This study aims to examine the effect of green accounting and intellectual capital on financial performance in companies in the consumer non-cyclicals sector listed on the Indonesia Stock Exchange during the 2022–2024 period. This quantitative study employed purposive sampling to obtain 30 companies, resulting in 90 observations. Secondary data were collected from annual reports and PROPER ratings published by the Indonesian Ministry of Environment (KLH). Data were analyzed using panel data regression with EViews 14 through model selection, classical assumption, and hypothesis testing. The findings indicate that green accounting does not have a significant effect on financial performance, whereas intellectual capital has a significant effect. The findings also indicate that green accounting and intellectual capital jointly have a significant effect on financial performance. The adjusted coefficient of determination shows that the independent variables explain 16.11% of the variation in financial performance, while the remaining 83.89% is explained by factors outside the research model. These findings provide empirical evidence regarding the roles of green accounting and intellectual capital in explaining financial performance in companies in the consumer non-cyclicals sector.