Strengthening Firm Value Through Green Practices: The Role of Environmental Performance

This study examines the influence of green intellectual capital, green innovation, and carbon emissions disclosure on firm value, while also assessing the moderating role of environmental performance in these relationships. The research utilizes 156 panel observations derived from 52 energy and transportation companies during the 2023 period. Panel data regression and moderated regression analysis are applied to test the proposed hypotheses. The results indicate that green innovation positively and significantly affects firm value. In contrast, green intellectual capital and carbon emissions disclosure do not demonstrate a significant direct effect on firm value. Furthermore, environmental performance strengthens the relationship between green intellectual capital and firm value, as well as between green innovation and firm value. However, environmental performance does not moderate the relationship between carbon emissions disclosure and firm value. These findings highlight the strategic importance of innovation-driven environmental initiatives in enhancing corporate value, while suggesting that disclosure practices alone may not be sufficient to generate market appreciation