International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
This document summarizes a journal article about green supply chain management (GSCM) as a strategy to gain competitive advantage. It discusses how GSCM has become an important way for firms to improve environmental and financial performance simultaneously. The article reviews literature on different motivations for and approaches to GSCM, including risk-based, efficiency-based, innovation-based, and closed-loop strategies. It also examines internal and external drivers for adopting GSCM and how GSCM can provide benefits at both the organizational and national level.
Corporate Reporting – Disclosure Analysis CSR_TBL_ESG_Sustainability Indices ...Dayana Mastura FCCA CA
Sustainability indices evaluate companies' sustainability performance and environmental policies. They aim to inform investors about socially responsible investment opportunities. Major sustainability indices include the Dow Jones Sustainability Index, FTSE4Good, and MSCI Global Sustainability Index. Benchmarking compares company practices to industry best practices for continuous improvement. Sustainability benchmarking identifies environmental, social and economic indicators, gathers raw data, and analyzes trends to assess performance across the triple bottom line of people, planet and profit.
Exploring the Role of Greening Drivers, Eco-Design, and Collaboration Capabil...inventionjournals
Environmental protection is considered imperative for all stakeholders living on the planet. Following the implementation of three directives of European Union, including: Waste Electrical and Electronic Equipment Directive (WEEE), Restriction of Hazardous Substances Directive (RoHS), and Energy Using products (EuP), practitioners are expected to take responsive actions for staying in the EU market and remaining competitive.As a major notebook computer manufacturer in the world, Taiwanese companies are advised to integrated green concepts into the process of new product development (NPD) to alleviate the burden to the earth. The paper aims to explore the role of collaboration capability during the process of ENPD (Environmental New Product Development). Members of product development teams from different companies in notebook industry were interviewed. Documentary analysis, in-depth interview, and content analysis were used to collect and analyze data. The results indicated that practitioners do pay more and more attention to the idea of ENPD; however, the author also found that the concepts of LCA (Life Cycle Assessment) and EMS (Environmental Management System) are still in the early stage that need to be integrated into formal business processes. Supplier management and green procurement are main approaches utilized by companies investigated in the current study. It was also noticed that OEM (Original Equipment Manufacturer) and ODM (Original Design Manufacturer) companies adopted different approaches to become more environmental friendly
American Express operates in the financial services industry providing credit cards, travel services, and risk management solutions. It targets high earning customers and charges merchants a fee on credit card transactions. The environment American Express operates in is characterized by:
1. High complexity due to operating globally in a niche premium market segment.
2. High dynamism as it seeks to expand its merchant acceptance while facing challenges from competitors offering lower fees.
3. High richness with opportunities to capture more corporate travel customers and transactions.
The multiple forces American Express must deal with across different environments and its goal of market expansion results in a highly uncertain operating environment.
This document discusses organizational environments and how organizations manage dependencies and uncertainties. It covers the specific and general environments that organizations operate in, as well as sources of uncertainty like complexity, dynamism, and resource scarcity. Theories discussed include resource dependence theory, which holds that organizations aim to minimize dependence on others for resources, and transaction cost theory, which proposes that organizations seek to minimize costs of exchanging resources. Strategies for managing dependencies with other organizations like suppliers and competitors are analyzed, such as developing reputations, strategic alliances, mergers, and regulatory bodies.
Present status of corporate environmental accounting (cea) in bangladeshAlexander Decker
This document summarizes a study on the present status of corporate environmental accounting (CEA) practices among textile companies in Bangladesh. The study aimed to understand managers' opinions on CEA, pressures to adopt CEA, current CEA conditions, and limitations to establishing CEA. A questionnaire survey found that managers are positive about environmental issues but few companies fully adopt CEA due to various problems. Prior literature showed that Bangladeshi companies provide little environmental cost quantification and disclosure in an ununiform manner.
1. The document discusses organizational effectiveness and the factors that influence it. Effectiveness is measured by how well an organization achieves its goals using its resources. Key factors include management skills, organizational structure, employee attitudes and skills, and culture.
2. An organization's environment consists of internal and external forces that present opportunities and threats. The internal environment includes managers, shareholders, structure, and culture. The external environment includes general forces like economic conditions, and task forces like customers, suppliers, and competitors.
3. Managing in a changing global environment presents challenges such as workforce diversity, empowerment, technological change, and ethics. Organizations must innovate, respond to social responsibilities, and practice good corporate governance.
The document discusses the strategic management process and environmental scanning. It describes the external environment as consisting of the societal environment made up of PEST factors (political, economic, social, technological), and the task environment including stakeholders. The internal environment includes analyzing a company's strengths, weaknesses, opportunities, and threats. Environmental scanning involves analyzing these external and internal factors. Strategies are then formulated using SWOT analysis and considering strategic groups within the industry.
This document summarizes a journal article about green supply chain management (GSCM) as a strategy to gain competitive advantage. It discusses how GSCM has become an important way for firms to improve environmental and financial performance simultaneously. The article reviews literature on different motivations for and approaches to GSCM, including risk-based, efficiency-based, innovation-based, and closed-loop strategies. It also examines internal and external drivers for adopting GSCM and how GSCM can provide benefits at both the organizational and national level.
Corporate Reporting – Disclosure Analysis CSR_TBL_ESG_Sustainability Indices ...Dayana Mastura FCCA CA
Sustainability indices evaluate companies' sustainability performance and environmental policies. They aim to inform investors about socially responsible investment opportunities. Major sustainability indices include the Dow Jones Sustainability Index, FTSE4Good, and MSCI Global Sustainability Index. Benchmarking compares company practices to industry best practices for continuous improvement. Sustainability benchmarking identifies environmental, social and economic indicators, gathers raw data, and analyzes trends to assess performance across the triple bottom line of people, planet and profit.
Exploring the Role of Greening Drivers, Eco-Design, and Collaboration Capabil...inventionjournals
Environmental protection is considered imperative for all stakeholders living on the planet. Following the implementation of three directives of European Union, including: Waste Electrical and Electronic Equipment Directive (WEEE), Restriction of Hazardous Substances Directive (RoHS), and Energy Using products (EuP), practitioners are expected to take responsive actions for staying in the EU market and remaining competitive.As a major notebook computer manufacturer in the world, Taiwanese companies are advised to integrated green concepts into the process of new product development (NPD) to alleviate the burden to the earth. The paper aims to explore the role of collaboration capability during the process of ENPD (Environmental New Product Development). Members of product development teams from different companies in notebook industry were interviewed. Documentary analysis, in-depth interview, and content analysis were used to collect and analyze data. The results indicated that practitioners do pay more and more attention to the idea of ENPD; however, the author also found that the concepts of LCA (Life Cycle Assessment) and EMS (Environmental Management System) are still in the early stage that need to be integrated into formal business processes. Supplier management and green procurement are main approaches utilized by companies investigated in the current study. It was also noticed that OEM (Original Equipment Manufacturer) and ODM (Original Design Manufacturer) companies adopted different approaches to become more environmental friendly
American Express operates in the financial services industry providing credit cards, travel services, and risk management solutions. It targets high earning customers and charges merchants a fee on credit card transactions. The environment American Express operates in is characterized by:
1. High complexity due to operating globally in a niche premium market segment.
2. High dynamism as it seeks to expand its merchant acceptance while facing challenges from competitors offering lower fees.
3. High richness with opportunities to capture more corporate travel customers and transactions.
The multiple forces American Express must deal with across different environments and its goal of market expansion results in a highly uncertain operating environment.
This document discusses organizational environments and how organizations manage dependencies and uncertainties. It covers the specific and general environments that organizations operate in, as well as sources of uncertainty like complexity, dynamism, and resource scarcity. Theories discussed include resource dependence theory, which holds that organizations aim to minimize dependence on others for resources, and transaction cost theory, which proposes that organizations seek to minimize costs of exchanging resources. Strategies for managing dependencies with other organizations like suppliers and competitors are analyzed, such as developing reputations, strategic alliances, mergers, and regulatory bodies.
Present status of corporate environmental accounting (cea) in bangladeshAlexander Decker
This document summarizes a study on the present status of corporate environmental accounting (CEA) practices among textile companies in Bangladesh. The study aimed to understand managers' opinions on CEA, pressures to adopt CEA, current CEA conditions, and limitations to establishing CEA. A questionnaire survey found that managers are positive about environmental issues but few companies fully adopt CEA due to various problems. Prior literature showed that Bangladeshi companies provide little environmental cost quantification and disclosure in an ununiform manner.
1. The document discusses organizational effectiveness and the factors that influence it. Effectiveness is measured by how well an organization achieves its goals using its resources. Key factors include management skills, organizational structure, employee attitudes and skills, and culture.
2. An organization's environment consists of internal and external forces that present opportunities and threats. The internal environment includes managers, shareholders, structure, and culture. The external environment includes general forces like economic conditions, and task forces like customers, suppliers, and competitors.
3. Managing in a changing global environment presents challenges such as workforce diversity, empowerment, technological change, and ethics. Organizations must innovate, respond to social responsibilities, and practice good corporate governance.
The document discusses the strategic management process and environmental scanning. It describes the external environment as consisting of the societal environment made up of PEST factors (political, economic, social, technological), and the task environment including stakeholders. The internal environment includes analyzing a company's strengths, weaknesses, opportunities, and threats. Environmental scanning involves analyzing these external and internal factors. Strategies are then formulated using SWOT analysis and considering strategic groups within the industry.
The document discusses sustainability reporting and frameworks for reporting. It provides definitions and explanations of sustainability reporting, its importance, and common frameworks used like the GRI Standards. The GRI framework is explained in depth, including its development, structure, principles, and types of performance indicators. National and global scenarios for sustainability reporting are also summarized.
Balanced scorecard weaknesses, strengths, and its ability as performanceAlexander Decker
The document discusses and compares various performance management systems, focusing on the balanced scorecard (BSC). It summarizes criticisms of traditional accounting systems and discusses how BSC and other systems like TQM, ISO 14001, the performance pyramid, and the EFQM excellence model measure performance. The document concludes that while BSC has received criticisms, it has advantages over other systems in providing a balanced, strategic-linked approach to performance measurement. BSC's ability to incorporate social and environmental issues within a strategic framework suggests it could be useful for further research on sustainability performance measurement.
Principle and Practice of Management MGT Ippt chap003IIUM
This document discusses managerial decision making. It covers the characteristics of managerial decisions, the phases of decision making including identifying problems, generating solutions, evaluating alternatives, making a choice, and implementing decisions. It also discusses using groups for decision making, encouraging creativity, and models of organizational decision processes. Key points covered include the difference between programmed and non-programmed decisions, biases that can influence decision making, and elements to include in a crisis plan.
This document summarizes a study on how strategic decision-makers in Danish industry have responded to stakeholder influence regarding environmental sustainability over almost two decades. The study finds that sustainability has gradually risen in strategic importance for firms over time, suggesting environmental initiatives have become lasting priorities. It uses longitudinal data from surveys of small and medium industrial firms in Denmark collected every four years since 1995. The study aims to shed light on how stakeholders' perceived influence and firms' environmental activities may have changed over the long term.
Principle and Practice of Management MGT Ippt chap002IIUM
This document provides an overview of the external and internal environments that influence organizations. It discusses the macroenvironment, competitive environment, key forces like the economy, technology, laws/regulations, and demographics. It also explains how organizations can analyze their environment through scanning, forecasting, and benchmarking. Organizations can change their environment through strategic maneuvers like diversification or influence it through independent or cooperative strategies. Culture and adapting to uncertainty are also summarized.
Resource dependency refers to the concept that organizations are dependent on external entities for important resources and inputs. Organizations must establish relationships and linkages with other organizations in their environment in order to access vital resources like materials, funding, customers, etc. This creates interdependence between organizations as they seek to balance obtaining necessary resources while maintaining their autonomy and independence.
The document discusses organizational environments, including the external environment (general and task environments) and internal environment. The external environment includes broad forces outside an organization's control that shape its context, and specific groups like competitors, customers, and regulators that directly influence the organization. The internal environment encompasses owners, employees, culture, and other internal conditions within an organization's control. The document provides detailed descriptions of each component of the organizational environments.
The Influence of Corporate Governance and Corporate Social Responsibility on...inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
This document discusses tools for analyzing an organization's general environment, including scenario planning, PEST analysis, and SWOT analysis. It begins by defining the general environment and its importance in shaping the competitive environment. It evaluates the role of scanning the general environment to detect weak signals and monitoring them to discern patterns and trends. Scenario planning is presented as a tool to help organizations deal with uncertainty by imagining possible futures. PEST analysis is discussed as a framework for analyzing political, economic, social and technological factors in the macro-environment. Finally, it explains how SWOT analysis relates to the general and competitive environments and will be covered in more detail later. The overall aim is to understand these tools and their limitations in analyzing the general environment
11.isea vol 0004www.iiste.org call for paper no 1 pp. 74-87Alexander Decker
This study examines the relationship between managers' perceptions of environmental accounting and actual environmental accounting disclosures by Indonesian companies. A survey was conducted of managers at companies listed on the Jakarta Stock Exchange to assess their perceptions. Company annual reports were also analyzed to measure actual environmental disclosures. The researchers hypothesized a positive relationship between managerial perceptions and disclosure quality. Preliminary results found a correlation, supporting the view that perceptions influence reporting behavior. The study aims to provide evidence for regulators on factors influencing disclosure to improve accounting regulations and standards.
Ch13 - Organisation theory design and change gareth jonesAnkit Kesri
The document discusses how innovation, intrapreneurship, and creativity are related. It describes the different types of innovation and technological change. It also outlines the steps involved in managing the innovation process, including using cross-functional teams, quantitative modeling like PERT/CPM charts, and stage-gate development funnels. The role of information technology in fostering innovation through information efficiencies and synergies is also covered.
This document discusses several perspectives on organizational change and an organization's relationship with its environment. It describes theories such as contingency theory, which states an organization's structure should fit its environment to be effective. It also discusses resource dependence theory, which argues organizations aim to minimize dependence on others for resources and influence resource availability. Additionally, it covers perspectives such as population ecology, institutional theory, and evolutionary theory in relation to how organizations adapt and change over time in response to internal and external forces.
The document discusses the different components of a business environment. It describes the business environment as consisting of internal and external factors. The internal environment refers to conditions within an organization that can be controlled by management, such as employees and organizational structure. The external environment consists of forces outside the organization's control that affect its performance, including the political-legal, economic, socio-cultural, and technological environment as well as specific industry forces like customers and competitors. Each component of the business environment is complex and dynamic, with the potential to significantly impact business operations.
Principle and Practice of Management MGT Ippt chap005IIUM
This document discusses ethics, corporate social responsibility, and sustainability. It describes different ethical perspectives that guide decision making, how companies influence their ethics environment, and a process for making ethical decisions. It outlines important issues regarding corporate social responsibility and reasons for businesses' growing interest in the natural environment. Actions managers can take to manage with the environment in mind are also identified.
Redesigning management education for the next decadeVidya Sri
The document discusses how sustainability management is becoming increasingly important for businesses and the future of MBA education. It argues that MBA programs should develop quotients to measure environmental, economic, and social sustainability. Leading organizations are adopting sustainability practices to reduce costs, manage risks, and improve transparency. Sustainability measurement tools need to assess whether resource use exceeds renewal rates to determine true sustainability. Business schools must prepare future managers to lead companies in sustainable growth that enhances natural, human, and financial capital.
This document discusses the role of institutions in facilitating sustainability reporting. It outlines how organizations like the Global Reporting Initiative (GRI) and government agencies in India have established frameworks and guidelines to standardize sustainability reporting. It also summarizes trends in sustainability reporting, noting the increased adoption of reporting standards and assurance of reports. The document advocates for integrated reporting and highlights opportunities for organizations to improve their communication of sustainability issues, challenges, and goals.
Ch09 - Organisation theory design and change gareth jonesAnkit Kesri
The document discusses different types of technology and how they relate to organizational structure and effectiveness. It covers three main points:
1) It identifies three levels of technology - individual, functional, and organizational - and differentiates between technologies like mass production and craftsmanship.
2) It discusses several theories that examine how the type of technology impacts organizational design, including the level of technical complexity, routine vs complex tasks, and task interdependence.
3) It describes the shift from traditional mass production to more advanced manufacturing technologies that increase flexibility, like computer-aided design, just-in-time inventory systems, and computer-integrated manufacturing.
The Corporate Social Responsibility Strategies and Activities Employed By the...iosrjce
Corporate social responsibility (CSR) playa an increasingly important role in business success
today, and economic, political, and social factors are shaping CSR strategies around the world. Approached
strategically, CSR has the potential to generate opportunity, innovation and competitive advantage for
organizations while solving pressing social problems. The study explored the effectiveness of CSR strategies on
organizational performance by ascertaining whether responsibility towards primary stakeholders influences the
financial and non-financial performance of commercial banks. The author focused on the Equity Bank in Kenya.
Content analysis of the Bank’s financial reports between the years 2006 and 2012 was done to ascertain the
relationship between CSR and performance of the Bank. The establishment of EGF, a fully fledged subsidiary of
Equity Bank, to handle all aspects of social responsibility for the Bank is a clear attestation of how important
and serious the institution considers CSR in their day-to-day operations. The categorization of the CSR
strategies into thematic areas showed that, to the Eank, social responsibility is not just a philanthropic deed to
society but a strategic tool for furtherance of business objectives, including stakeholder relationships. The study
recommended the need for organizations to be more inclusive and participatory among all the stakeholders at
all levels of implementation as well as further research to determine the level at which CSR impacts on
performance and the influence of prior organizational performance on social responsibility.
Environmental analysis - strategic management - Manu Melwin Joymanumelwin
Why Does the Environment Matter?
First, the environment provides resources that an organization needs in order to create goods and services.
Second, the environment is a source of opportunities and threats for an organization.
Third, the environment shapes the various strategic decisions that executives make as they attempt to lead their organizations to success.
This document outlines 32 ways to keep a blog from sucking, including staying relevant to your audience, using spell check, turning on comments, choosing a consistent URL, licensing your content, making subscriptions and reading easy, promoting your blog on social media, and focusing on interesting content. The tips are divided into things to do, such as using simple URLs for popular posts, and things to avoid like split brain blogging across multiple sites. The overall message is to know your goals for blogging and make your blog easy to access and interact with.
Beyoncé Knowles is an American singer, songwriter, and actress. She rose to fame as the lead singer of the girl group Destiny's Child. She has since become one of the best-selling music artists of all time with over 100 million records sold worldwide. She is married to rapper Jay-Z and has won 24 Grammys throughout her career both as a solo artist and with Destiny's Child, making her the most Grammy-awarded female artist of all time.
The document discusses the history and evolution of web technologies. It notes that the web is still young, and that early technologies like Perl, C/C++, and TCL/Tk were used to build the first websites and applications. It emphasizes that users only care if websites work well, not which specific technologies were used. The document also outlines how web technologies are organized in layers and standards like HTML, CSS, JSON, Atom and RSS have enabled interoperability across the layers.
The document discusses sustainability reporting and frameworks for reporting. It provides definitions and explanations of sustainability reporting, its importance, and common frameworks used like the GRI Standards. The GRI framework is explained in depth, including its development, structure, principles, and types of performance indicators. National and global scenarios for sustainability reporting are also summarized.
Balanced scorecard weaknesses, strengths, and its ability as performanceAlexander Decker
The document discusses and compares various performance management systems, focusing on the balanced scorecard (BSC). It summarizes criticisms of traditional accounting systems and discusses how BSC and other systems like TQM, ISO 14001, the performance pyramid, and the EFQM excellence model measure performance. The document concludes that while BSC has received criticisms, it has advantages over other systems in providing a balanced, strategic-linked approach to performance measurement. BSC's ability to incorporate social and environmental issues within a strategic framework suggests it could be useful for further research on sustainability performance measurement.
Principle and Practice of Management MGT Ippt chap003IIUM
This document discusses managerial decision making. It covers the characteristics of managerial decisions, the phases of decision making including identifying problems, generating solutions, evaluating alternatives, making a choice, and implementing decisions. It also discusses using groups for decision making, encouraging creativity, and models of organizational decision processes. Key points covered include the difference between programmed and non-programmed decisions, biases that can influence decision making, and elements to include in a crisis plan.
This document summarizes a study on how strategic decision-makers in Danish industry have responded to stakeholder influence regarding environmental sustainability over almost two decades. The study finds that sustainability has gradually risen in strategic importance for firms over time, suggesting environmental initiatives have become lasting priorities. It uses longitudinal data from surveys of small and medium industrial firms in Denmark collected every four years since 1995. The study aims to shed light on how stakeholders' perceived influence and firms' environmental activities may have changed over the long term.
Principle and Practice of Management MGT Ippt chap002IIUM
This document provides an overview of the external and internal environments that influence organizations. It discusses the macroenvironment, competitive environment, key forces like the economy, technology, laws/regulations, and demographics. It also explains how organizations can analyze their environment through scanning, forecasting, and benchmarking. Organizations can change their environment through strategic maneuvers like diversification or influence it through independent or cooperative strategies. Culture and adapting to uncertainty are also summarized.
Resource dependency refers to the concept that organizations are dependent on external entities for important resources and inputs. Organizations must establish relationships and linkages with other organizations in their environment in order to access vital resources like materials, funding, customers, etc. This creates interdependence between organizations as they seek to balance obtaining necessary resources while maintaining their autonomy and independence.
The document discusses organizational environments, including the external environment (general and task environments) and internal environment. The external environment includes broad forces outside an organization's control that shape its context, and specific groups like competitors, customers, and regulators that directly influence the organization. The internal environment encompasses owners, employees, culture, and other internal conditions within an organization's control. The document provides detailed descriptions of each component of the organizational environments.
The Influence of Corporate Governance and Corporate Social Responsibility on...inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
This document discusses tools for analyzing an organization's general environment, including scenario planning, PEST analysis, and SWOT analysis. It begins by defining the general environment and its importance in shaping the competitive environment. It evaluates the role of scanning the general environment to detect weak signals and monitoring them to discern patterns and trends. Scenario planning is presented as a tool to help organizations deal with uncertainty by imagining possible futures. PEST analysis is discussed as a framework for analyzing political, economic, social and technological factors in the macro-environment. Finally, it explains how SWOT analysis relates to the general and competitive environments and will be covered in more detail later. The overall aim is to understand these tools and their limitations in analyzing the general environment
11.isea vol 0004www.iiste.org call for paper no 1 pp. 74-87Alexander Decker
This study examines the relationship between managers' perceptions of environmental accounting and actual environmental accounting disclosures by Indonesian companies. A survey was conducted of managers at companies listed on the Jakarta Stock Exchange to assess their perceptions. Company annual reports were also analyzed to measure actual environmental disclosures. The researchers hypothesized a positive relationship between managerial perceptions and disclosure quality. Preliminary results found a correlation, supporting the view that perceptions influence reporting behavior. The study aims to provide evidence for regulators on factors influencing disclosure to improve accounting regulations and standards.
Ch13 - Organisation theory design and change gareth jonesAnkit Kesri
The document discusses how innovation, intrapreneurship, and creativity are related. It describes the different types of innovation and technological change. It also outlines the steps involved in managing the innovation process, including using cross-functional teams, quantitative modeling like PERT/CPM charts, and stage-gate development funnels. The role of information technology in fostering innovation through information efficiencies and synergies is also covered.
This document discusses several perspectives on organizational change and an organization's relationship with its environment. It describes theories such as contingency theory, which states an organization's structure should fit its environment to be effective. It also discusses resource dependence theory, which argues organizations aim to minimize dependence on others for resources and influence resource availability. Additionally, it covers perspectives such as population ecology, institutional theory, and evolutionary theory in relation to how organizations adapt and change over time in response to internal and external forces.
The document discusses the different components of a business environment. It describes the business environment as consisting of internal and external factors. The internal environment refers to conditions within an organization that can be controlled by management, such as employees and organizational structure. The external environment consists of forces outside the organization's control that affect its performance, including the political-legal, economic, socio-cultural, and technological environment as well as specific industry forces like customers and competitors. Each component of the business environment is complex and dynamic, with the potential to significantly impact business operations.
Principle and Practice of Management MGT Ippt chap005IIUM
This document discusses ethics, corporate social responsibility, and sustainability. It describes different ethical perspectives that guide decision making, how companies influence their ethics environment, and a process for making ethical decisions. It outlines important issues regarding corporate social responsibility and reasons for businesses' growing interest in the natural environment. Actions managers can take to manage with the environment in mind are also identified.
Redesigning management education for the next decadeVidya Sri
The document discusses how sustainability management is becoming increasingly important for businesses and the future of MBA education. It argues that MBA programs should develop quotients to measure environmental, economic, and social sustainability. Leading organizations are adopting sustainability practices to reduce costs, manage risks, and improve transparency. Sustainability measurement tools need to assess whether resource use exceeds renewal rates to determine true sustainability. Business schools must prepare future managers to lead companies in sustainable growth that enhances natural, human, and financial capital.
This document discusses the role of institutions in facilitating sustainability reporting. It outlines how organizations like the Global Reporting Initiative (GRI) and government agencies in India have established frameworks and guidelines to standardize sustainability reporting. It also summarizes trends in sustainability reporting, noting the increased adoption of reporting standards and assurance of reports. The document advocates for integrated reporting and highlights opportunities for organizations to improve their communication of sustainability issues, challenges, and goals.
Ch09 - Organisation theory design and change gareth jonesAnkit Kesri
The document discusses different types of technology and how they relate to organizational structure and effectiveness. It covers three main points:
1) It identifies three levels of technology - individual, functional, and organizational - and differentiates between technologies like mass production and craftsmanship.
2) It discusses several theories that examine how the type of technology impacts organizational design, including the level of technical complexity, routine vs complex tasks, and task interdependence.
3) It describes the shift from traditional mass production to more advanced manufacturing technologies that increase flexibility, like computer-aided design, just-in-time inventory systems, and computer-integrated manufacturing.
The Corporate Social Responsibility Strategies and Activities Employed By the...iosrjce
Corporate social responsibility (CSR) playa an increasingly important role in business success
today, and economic, political, and social factors are shaping CSR strategies around the world. Approached
strategically, CSR has the potential to generate opportunity, innovation and competitive advantage for
organizations while solving pressing social problems. The study explored the effectiveness of CSR strategies on
organizational performance by ascertaining whether responsibility towards primary stakeholders influences the
financial and non-financial performance of commercial banks. The author focused on the Equity Bank in Kenya.
Content analysis of the Bank’s financial reports between the years 2006 and 2012 was done to ascertain the
relationship between CSR and performance of the Bank. The establishment of EGF, a fully fledged subsidiary of
Equity Bank, to handle all aspects of social responsibility for the Bank is a clear attestation of how important
and serious the institution considers CSR in their day-to-day operations. The categorization of the CSR
strategies into thematic areas showed that, to the Eank, social responsibility is not just a philanthropic deed to
society but a strategic tool for furtherance of business objectives, including stakeholder relationships. The study
recommended the need for organizations to be more inclusive and participatory among all the stakeholders at
all levels of implementation as well as further research to determine the level at which CSR impacts on
performance and the influence of prior organizational performance on social responsibility.
Environmental analysis - strategic management - Manu Melwin Joymanumelwin
Why Does the Environment Matter?
First, the environment provides resources that an organization needs in order to create goods and services.
Second, the environment is a source of opportunities and threats for an organization.
Third, the environment shapes the various strategic decisions that executives make as they attempt to lead their organizations to success.
This document outlines 32 ways to keep a blog from sucking, including staying relevant to your audience, using spell check, turning on comments, choosing a consistent URL, licensing your content, making subscriptions and reading easy, promoting your blog on social media, and focusing on interesting content. The tips are divided into things to do, such as using simple URLs for popular posts, and things to avoid like split brain blogging across multiple sites. The overall message is to know your goals for blogging and make your blog easy to access and interact with.
Beyoncé Knowles is an American singer, songwriter, and actress. She rose to fame as the lead singer of the girl group Destiny's Child. She has since become one of the best-selling music artists of all time with over 100 million records sold worldwide. She is married to rapper Jay-Z and has won 24 Grammys throughout her career both as a solo artist and with Destiny's Child, making her the most Grammy-awarded female artist of all time.
The document discusses the history and evolution of web technologies. It notes that the web is still young, and that early technologies like Perl, C/C++, and TCL/Tk were used to build the first websites and applications. It emphasizes that users only care if websites work well, not which specific technologies were used. The document also outlines how web technologies are organized in layers and standards like HTML, CSS, JSON, Atom and RSS have enabled interoperability across the layers.
Este documento describe un programa técnico en asistencia administrativa ofrecido por el SENA en Colombia. El programa dura 12 meses y desarrolla competencias relacionadas con la atención al cliente, procesamiento de información, contabilidad, organización de eventos y apoyo administrativo. El resumen describe los requisitos de ingreso, competencias a desarrollar, estrategia metodológica y perfil del instructor.
El documento describe varias actividades de bienestar realizadas con aprendices en diferentes áreas y sedes, incluyendo dinámicas de inducción y talleres de pre-expresividad y habilidades comunicativas entre febrero y junio de 2013. Se llevaron a cabo varios talleres con cientos de aprendices para enseñarles valores como el respeto, la tolerancia y el trabajo en equipo.
El documento describe varias actividades de bienestar realizadas con aprendices en diferentes áreas y sedes, incluyendo dinámicas de inducción y talleres de pre-expresividad y habilidades comunicativas entre febrero y junio de 2013. Se llevaron a cabo varios talleres con cientos de aprendices para enseñarles valores como el respeto, la tolerancia y el trabajo en equipo.
Guia de administracion segura de medicamentos via parenteral 2011MedyHard Rock
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Descriptive Analysis of Inflation and Unemployment in Indian EcononmyAnu Damodaran
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- Environmental accounting refers to accounting that includes environmental goods and services. It aims to measure the environmental impacts and costs of economic activities.
- The objectives of environmental accounting include better management of environmental costs, more accurate product/process costs, and identifying opportunities to minimize environmental costs.
- Benefits include reducing compliance and operating costs, aiding strategic decision making, and gaining competitive advantages through improved environmental
Environmental sustainability is an important component of a firm’s Corporate Social Responsibility. It relates to
firm practices that ensure the conservation of the environment and natural resources, such as water, land and air.
This research study aims to study the concept in relation to firm performance in Jordan. It proposes that
environmental sustainability practices of a company in Jordan’s manufacturing industry positively influence its
financial performance. For this purpose, the study assesses the relationship between environmental sustainability
score and the profitability ratios. Results reveal a significant positive impact of sustainability score on the ROA of
the companies. It is therefore recommended to manufacturing firms in Jordan to focus more on environmental CSR
and sustainability practices, which would result in improved efficiency and profitability.
The document discusses industrial green rating, which assesses the environmental friendliness and performance of industries. It aims to guide industries towards reducing their environmental impact and encouraging the adoption of better environmental management policies. The green rating process evaluates industries' current pollution levels and technologies, recommendations for improvements, and influences industries to enhance their environmental performance over time. The objectives are to monitor, influence and aid in regulating industrial pollution while promoting sustainable development.
The commitment of the jordanian industrial companies in applying environmenta...Alexander Decker
This document provides an overview of environmental accounting and its importance. It discusses how accounting practices are expanding to include environmental costs and impacts. The document also examines the general framework of environmental accounting and relevant legislation. It analyzes Jordanian industrial companies' commitment to environmental accounting principles and how their financial departments address environmental aspects. The study found that Jordanian industrial companies generally commit to environmental accounting and keep pace with developments in the field. Their environmental accounting functions also keep up with global changes in the area.
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A theoretical content and a practical perspective are elaborated to model the way to create shared value in an organization throughout a methodology implemented in a company in the sugar sector. The proposed model is made up of five stages: a) Description of the company, b) Strategic diagnosis, c) Executive proposal, d) Change management and f) Strategic decision.
The strategic decision stage includes a six-steps sub model oriented to develop and to redesign a segment of the entire value chain, where implementation begins with the segmentation of critical inputs, awareness suppliers through Value-Sharing, CSR and Sustainability. Subsequent phases consist of an approach to selected suppliers and the strategic breakdown by the company.
Imperative of Environmental Cost on Equity and Assets of Quoted Manufacturing...ijtsrd
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International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
International Journal of Business and Management Invention (IJBMI)inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
An impact of social audits on corporate performance, analyses of nigerian man...Alexander Decker
This document summarizes a research study that examined the impact of corporate social responsibility on the profitability of firms in Nigeria. The study analyzed data from 10 randomly selected Nigerian manufacturing firms from 1999-2008. The results showed that firms invested less than 10% of annual profits in social responsibility. A statistical analysis found that corporate social responsibility accounted for about 62% of the variation in firm performance. The study concluded that laws should be enacted to require firms to comply with social responsibility obligations and that more attention should be given to social accounting and costs.
Green accounting is one of the crucial areas in today’s corporate social responsibility. Companies are incorporating the concept of environmental element in their business operations. Green accounting will help the organizations to identify the resource utilization and the incurred cost. This method records cost and benefits rendered by the ecosystem to a business concern. The present research paper
concentrates on understanding the concept of green accounting.50 companies were selected for the study from Delhi, Faridabad, Ghaziabad and Gurgaon. Fifteen aspects related to green accounting were considered in scale for data collection. The results disclosed that there is significant difference between manufacturing and non- manufacturing companies in terms of green accounting practices.
In recent years, there has been a growing recognition of the importance of sustainability assurance in enhancing organizational transparency and accountability. As businesses face increasing pressure to address environmental and social issues, innovative approaches to sustainability assurance have emerged to meet these challenges.
1) The document examines the relationship between corporate social responsibility (CSR) and financial performance of Chinese listed companies, analyzing how CSR may have a deferred effect on improving financial metrics like return on assets (ROA) and return on equity (ROE).
2) It uses ordinary least squares regression to model the impact of current and previous years' CSR performance scores on current financial performance, controlling for factors like company size, earnings per share, industry, and age.
3) Preliminary results suggest CSR may not generate immediate financial gains but could improve financial performance over longer periods as CSR benefits materialize for stakeholders and boost a company's reputation, market share, and ultimately profits.
This document is an assignment submitted by a group of students at Green University of Bangladesh on the topic of environmental management accounting. It contains an introduction outlining the objectives and research methodology. The main body defines environmental management accounting, discusses why companies should care about the environment and the uses and benefits of EMA. It also outlines the key approaches and techniques of environmental management accounting frameworks, including input/output analysis, process flow charts, and activity-based costing. The conclusion states that clearly defining environmental costs is important for increased use of EMA.
This study examined the relationship between five dimensions of corporate social responsibility (CSR) (social, ethical, legal, environmental, technological) and competitive advantage in the Jordanian commercial banking sector. A survey of 206 employees across five commercial banks was conducted. Regression analysis found that 40.4% of the variance in competitive advantage is explained by changes in the CSR dimensions. Specifically, the legal, environmental, and technological dimensions had a statistically significant positive impact on competitive advantage, while the social and ethical dimensions did not. The findings suggest banks could improve competitive advantage by focusing CSR efforts on legal, environmental, and technological responsibilities.
American Journal of Multidisciplinary Research and Development is indexed, refereed and peer-reviewed journal, which is designed to publish research articles.
The importance of quality practices has considerably increased over the last years, on both a
practical and theoretical level. In competitive and global business environment, companies should create a need
for managers in manufacturing sector to effectively and continually improve quality, capability and process
efficiency. This paper presents the findings from the survey on the current status of measurement system on
CSR capability by using SQC and DMAIC method (Define-Measure-Analyze, Improve and Control) in fulfilled
the standard of quality product in home industries based. Case study was one of growth home industries
supported by CSR of PT. Pertamina Gas (Pertagas) in Prabumulih, South Sumatera. The chosen of industry as
they contribute in absorption of local content raw materials produce by using the vacant land along the yard.
The aims are to determine whether the essential quality measurement such as SQC snf DMAIC as have a
significant contribution to reduce the production reject and increasing the utility of raw material from local
content and develop the value added in the future. This paper outlines the results of the research conducted on
the industries under CSR programme, it was found that the CSR program by Pertagas was effective in reducing
product reject and give good contribution in spread the local product into the market, either local and national
area as shown by ANOVA test. The main finding from the study proved that suitable program of CSR was give
positive contribution on quality improvement.
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International Journal of Business and Management Invention (IJBMI)
1. International Journal of Business and Management Invention
ISSN (Online): 2319 – 8028, ISSN (Print): 2319 – 801X
www.ijbmi.org Volume 2 Issue 10ǁ October. 2013ǁ PP.55-67
Effect of Environmental Accounting Implementation and
Environmental Performance and Environmental Information
Disclosure as Mediation on Company Value
1
Mohammad Iqbal , 2 Sutrisno T. 3Prihat Assih, 4Rosidi
1
Tadulako University, Indonesia
Postgraduage Scholar Program of Economic Faculty, Brawijaya University, Malang, Indonesia
2
ABSTRACT :This study aims to examine stakeholder theory and legitimacy as well as eco-efficient related to
effect of environmental accounting implementation and environmental performance and environmental
disclosure as mediation on company value. Samples are 59 companies that selected with purposive sampling
technique. Analysis technique used is the Partial Least Square (PLS). Research results indicate that
environmental accounting implementation is able to affect on company value, environmental accounting
implementation affect on environmental information disclosure , environmental information disclosure affect on
company value, environmental performance affect on company value, environmental performance affect on
environmental information disclosure. However, environmental accounting implementation has not been able to
affect on company value through environmental information disclosure, as well as environmental performance
has not been able to affect company value through environmental information disclosure.
KEYWORDS: Environmental Accounting Implementation, Environmental Performance, Environmental
Disclosure, Company Value.
I.
INTRODUCTION
Environmental disclosure is important information regarding company's activities that conducted in an
ethical manner at globalization era. This is caused by proliferation of media coverage on issue of climate change
and global warming, as well as national disasters, both naturally or company negligence. This symptoms
encourages greater attention to sustainability reporting, and raises questions about transparency of disclosure
and role of accounting information in generating financial information relevant and reliable ([47], [10] ; 45]).
This phenomenon is a serious problem that needs to be thought the solution by all parties, including accounting
disciplines. On other hand, cost that must be borne by production activities have not been able to include
environmental degradation and future costs [50]. This company's environmental responsibility should be one of
performance indicators.Environmental performance is needed because company legitimacy can be achieved by
showing activity that accordance with local stakeholder value [39]. Based on environment context, there are two
dimensions of legitimacy achievement, namely action and presentation, (1) action is an organization activity
tailored to local community values, and (2) presentation related to activities carried out, whether it has met
stakeholder’s expectations or not [38]. On other hand, a significant environmental problem is associated with
existence of company activity ([11], [29]). It become an important environmental issue and an increase due to
ever-expanding range of company stakeholders, which include customers, shareholders, potential investors,
creditors, employees and general public ([20], [64], [65]).
To achieve these objectives, management uses certain techniques and procedures as well as maximum
resources exploitation [62]. One main resources that exploited many companies in effort to achieve the goal is
natural resources. It has been responded the academic world, including accounting profession. Accounting usage
includes economic development by taking into account the consequences on environment, such as how to
communicate environmental accounting information on environment impact [19].Management of environmental
costs is a top priority and interest [62]. There are several reasons for this; at least two. First, in many countries,
regulations have increased significantly, even expected to be tighter again. Laws and regulations often mention
penalties and huge fines, thus creating a high incentive to comply. Moreover, compliance costs can very large.
Thus, company should selects of most inexpensive method to stick to main purpose. To meet this goal,
compliance cost should be measured and main causes must be identified. Second, successful completion of
environmental issues becomes increasingly competitive issue.Internal system refers to organizational process
that designed to improve environmental performance, including environmental audit program, vision and
mission statement of environment, dealing with stakeholders, offer incentive compensation to managers and
employee’s environment, as well as providing staff for environmental activities. External stakeholder relations
www.ijbmi.org
55 | Page
2. Effect Of Environmental Accounting…
refers to interaction between company and various external constituencies, including shareholders,
local communities, government, customers, suppliers, and industry.External impact is defined as a negative
externality in business behavior. This impact is a direct consequence or second -order effects of enterprise
market activities [12]. Second-order effects include the release of hazardous materials into air, water, or soil.
Research links between environmental responsibility and economic performance by using pollution emissions as
a proxy for responsibility ([53], [49], [7]). Internal compliance refers to how far company meets the minimum
standards required by law and regulation. From social accounting and environmental performance perspective,
concept of conventional profit showed a bias in performance measurement. It is because company's profit is
result of a transformation process the natural resources and also potentially causes damage to environment.
Conventional income concept recognizes only internal costs in an accounting period. Relying on definition of
earnings (income), accounting can be seen from aspect of difference between revenue (realized revenues)
derived from a transaction with a period matched historical cost [12].
Performance, in form of profit and return on investment as a measure of a company's success, is based
on conventional performance indicators that contain fundamental flaws. One of them related to matching
concept that not proportional between revenues and costs. Income is derived from its activities in managing
resources (natural). But cost recognized is only costs incurred to acquire, transport, and processing of resources
(raw materials). Company could not account for losses due to damage arising from resource extraction and its
impact. It shows that companies only recognize expense related to performance or measure implementation
activities to generate revenue in that period, while costs that may arise in future is a result of environmental
damage with a long time horizon. It should be integrated with perceptions concerning how objects embedded in
environment with respect to source of raw materials acquired, how raw materials are mass produced, and how
its usage affects environment, and where community take advantage [12], [37].
Performance concept that oriented to achieve individual or group for a specific field become less
relevant, because organization and accounting systems operated in context of social, political and economic.
Sustainability of their existence depends on acceptance and maintenance of social approval, namely legitimacy,
as stated by [35]. If the public is not satisfied with organization performance, then he or she can use pressure on
company to live up to expectations or they can use the legal system to improve performance required
[21].Environmental disclosure of companies listed on Stock Exchange is still not uniform for type and items that
must be presented in financial statements due to unclear regulation in SAK. Most of them are only present in
images form and narrative even serving separately on websites. Research realm on environmental disclosure is
expected will raise awareness for companies in Indonesia to be willing to present report in addition to
mandatory voluntary reporting. Long-term environmental programs provide a more cost efficient alternative,
especially to select more efficient production process and raw materials source usage that can be recycled as
well as cheaper energy sources diversification. Company environmental programs can improve performance and
increase investor interest. The above explanation has been proven by research of, among others, [26], [24], [3],
[2], [12], [37].
Voluntary disclosures provide space for companies with other companies because each company
(management) provides information that would be attractive to investors. Therefore, environmental disclosure is
intended to improve information usefulness that based on management's evaluation in order company likely to
deliver good news ([68], [23]). Through disclosure of company image are expected to rise and improving
stakeholder’s perception, will further enhance shareholder value. Research results of [48], [4], and [16] prove
the existence a strong affect between environmental performance on environmental disclosure.
Some revious
studies have examined relationship between characteristics of companies with environmental disclosure, either
partially or simultaneously ([4], [11], [15], [6], [56]). Most of these studies results suggest links between
company’s characteristics with environmental disclosures. Research diversity in this domain due to differences
in analytical tools used and number of samples used. Investors in developed countries have positive awareness
towards environmental disclosure that disclosure of such information (good news).One elements of eco-control
(management control system based on environment) is based on provision of data and information environments
[37]. Therefore, company environmental management system can not work well without accounting process
support and integrating costs into management decisions, while accounting role in environmental management
system includes management of environmental costs, environmental performance evaluation have been applied,
and analysis environmental impact of company activities. This is actually a function of environmental
accounting and related to environmental performance [52], as demonstrated by [22], [28], with the argument
that polluting companies pay three times greater for non-product output such as waste and emissions. Study [42]
found that proactive environmental management is proxied by 5 indicators namely waste minimization,
www.ijbmi.org
56 | Page
3. Effect Of Environmental Accounting…
pollution prevention, environmental design, product excellence and full-cost accounting environmental
that affect on environmental performance.In contrast to previous studies of [56], [11], [62], [8] that more
focused on accounting output variables related to characteristics of company category structure (size, leverage),
performance (profitability), market-related (industry type), it is considered less effective because it has not touch
realm of practice. It is very important to investigation role of environmental accounting information to steer
management decisions as strategies that encourage to improve company performance in terms of environmental
management. Therefore, implementation need to integrate environmental accounting and environmental
performance that believed will drive efficiencies by identifying costs, classification, so do not generalize
environmental costs in overhead costs that there is missing link between environmental costs that occur with
responsibility products, processes, and activities that create difficulties for managers to track and control costs
([67], [31]) This study differ in some respects, but remain to include variables related to external disclosure, also
integrates role of environmental accounting as a tool in internal decision making / management. Management
can not perform any action relating to environment until accountant is able to identify and integrate the
management decisions, in order to evaluate effectiveness of accounting-related environmental performance and
environmental performance of company, which has not been studied in Indonesia. This study uses a voluntary
approach / discretionary disclosure theory [16].
The reason is simply, Bapepam requires mandatory disclosure of financial statements, although such
environmental liabilities for investors are regulated under Law No.25 of 2007.This research was motivated by
global and local issues emergence related to pollution and environmental damage. This has implications to
company viability (going concern of entity). Capital inflows from investors outside Indonesia provide
investment opportunities in real conditions in Indonesia. But on other hand, potential investors need enough
information to ensure the safety of investment [56]. Businesses are increasingly face keen competition that
requires companies a strategy that is more cost efficiency and improved product quality by implementing quality
assurance standards or ISO 14001 and label products with guarantees of environmental friendly (eco-labeling)
so that company can compete on price and quality of product. This research purposes are to analyze the effect of
environmental accounting implementation on company value, effect of environmental accounting
implementation on environmental information disclosure, analyzed the affect of environmental disclosure on
company value, the effect of environmental accounting implementation on company value through
environmental information disclosure as well as the effect of environmental performance on company value.
Furthermore, it analyzed effect of environmental performance on environmental information disclosure, effect
of environmental performance on company value through environmental information disclosure.
II. LITERATURE REVIEW AND HYPOTHESIS DEVELOPMENT
2.1 Effect of Environmental Accounting Implementation on Company Value
Company value is reflected in stock price. Company value has become a major concern of company
owners. This is because company value indicates shareholders (investors) prosperity. Company value is
measured by Tobin’s q ([20], [35], [66]). Tobin's q usage is believed to provide an overview of company's
market valuation because Tobin's q is obtained from market value of equity plus the book value of debt divided
by the book value of assets so that Tobin’s q gives an overview not only fundamental aspects, but also
company's market valuation.Environmental accounting implementation (X1) is identification (calculating and
recording), allocation, and analysis of material flow and cost by using environmental accounting system to test
their effect on environmental performance and company value [61]. Environmental Protection Agency [27])
states that environmental cost information can be used in internal management decisions. Environmental
accounting is a sub- area of accounting -related activity, method and system for recording and analysis
[58].Study [56] found that environmental cost information that generated by accounting environment can help to
increase company value because absence of such information makes managers more accountable for costs and
trying to make efforts to reduce cost. Study [44] found that by implementing environmental accounting,
companies can make cost savings that improved company's performance, also [25] found that environmental
accounting implementation can increase profit growth through cost reduction of annual production. As for [20]
added that in addition to cost reduction, environmental accounting can also be used to indicate potential for
environmentally beneficial investment to generate significant financial benefits through avoidance of
environmental liability. Based on descriptions above, this research hypothesis is:
H1: Environmental accounting implementation affect on company value
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2.2 Effect of Environmental accounting implementation on Environmental Disclosure
Environmental information disclosure (Y1) is a disclosure related to company's attitudes, policies or
actions toward environmental impact, emissions, pollution, cleaning, planting, or energy efficiency [15].
Environmental accounting serves as a provider of environmental information to internal and external parties.
Environmental accounting functions internally (Environment Management Accounting or EMA) to provide
information to assist management in improving environmental performance of company, while function of
external environmental accounting (Environment Financial Accounting or EFAs) is present information to
external parties or company stakeholders [13], [5], [67]). Environmental information generated by environment
accounting system is part of overall environmental information that disclosed by company.
Study [2] found an association between environmental accounting choices with environmental
information reporting or disclosure by companies. Ability to assess and control environmental costs is
associated with environmental reporting. Proactive environmental management, as measured by the
minimization of waste, prevention of pollution, design environment, byproducts and full-cost environmental
accounting, significantly affect company's decision to publish or not publish environmental disclosure in annual
reports [43]. Presence or absence of disclosure statement is indicated by company in annual report which
contains various information about environmental aspects of company [17]. External Monetary Environmental
Accounting (EMEA) is used to generate information for external parties such as investors, creditors and
insurance companies related to amount of funds that invest in waste treatment equipment or pollution control,
potential value of insurance for equipment, and so on [13]. External Physical Environmental Accounting
(EPEA) produces physical information derived from Physical Environmental Management Accounting
(PEMA). Based on descriptions above, this research hypothesis is:
H2: Environmental accounting implementation affect on environmental information disclosure
2.3. Effect of Environmental Disclosure on Company Value
Information is one media to get support and manage relationships with stakeholders [33]. Meanwhile,
from stakeholders perspective, they have right to get more specific information about benefit of its decisionmaking and company must disclose information [32]. Investors are more often associated with market -based
performance measures that often referred to as economic performance and its shape is share value ([29], [49],
[46]).Management should provide and disclosing sufficient environmental information to reduce agency gap and
to strengthen company's market share [4]. Information can also eliminate asymmetry information, especially if
presented in a form that easily accessible and broad range as media disclosure on Internet [33]. However,
environmental information disclosure in annual reports are widely used by companies because remain effective
to report main source of information for investors, creditors, customers, employees, government and
environmental groups ([49], [30]). More disclosure can generate greater opportunities for company to improve
its reputation. Most companies present environmental information in statement of intent and purpose of
company or a statement about what companies do and want [68]. The statement reflects the aim to build a good
company image. Based on descriptions above, this research hypothesis is:
H3: Environmental information disclosure affect on company value
2.4. Implementation of Environmental Accounting, Environmental Disclosure and Company Value
Accountability is a company effort to transparent and responsible for activity that has been performed.
Accountability is needed when company's activities affect and affected by external environment. Accounting as
a accountability tool functioned as a control over a business unit activity. This can be explained by the effect of
company activity quantitative on internal and external parties [1]. Accountability becomes a medium for
company to build image and network of stakeholders.Some studies as [12], [37] state the level and breadth of
company information disclosure has social and economic consequences. Level of accountability and
responsibility will determine the company legitimacy to external stakeholders, as well as increase company's
stock transactions. Companies that making environment financial statements in sustainable manner likely will
have better financial and market performance (market value) than companies that only makes conventional
financial statements ([13], [1], [20]). Company will still exist when the system operates in a consistent value
range with the value system of local community so company is required to operate in accordance with the value
growing [2]. Consistent with [49], company purpose to do environmental disclosure is to obtain good images
from stakeholders. Based on descriptions above, this research hypothesis is:
H4:
Environmental accounting implementation affect on company value through environmental
information disclosure
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2.5 Effect of Environmental Performance on Company Value
Eco-efficiency is expressed by [51] and [9] suggested a link between environmental performance and
financial performance through cost efficiencies that generated by good environmental performance. This
synthesis is supported by [12] who declared that eco-efficiency to improve efficiency comes from improved
environmental performance.
This viewpoint is different from conventional view that assumes the efforts to improve environmental
performance will actually increase cost of environment, thus causing a profits decrease. Pollution or poor
environmental performance reflects a fact that resources are used less complete, less effective and less efficient;
it will have an impact on lower earnings [51].Study [64] on companies listed in Indonesia Stock Exchange
found that environmental performance (measured with ISO 14001 certification, disclosure on website,
disclosures in financial statements, and PROPER) affect company's financial performance (measured by ROE,
ROI, EPS). According to [64], investment in waste treatment program in short term has visible impact on lower
profits, but in long run it will give a good image because there is no regulatory violations and company value
will rise. Environmentally friendly image and company social sensitivity is very important because competitive
business world today has led to competition to build and keep the image in eyes of consumers. Based on
descriptions above, this research hypothesis is:
H5: Environmental performance affect on company value
2.6 Effect of Environmental Performance on Environmental Information Disclosure
Achievement of good environmental performance is not the ultimate goal of a company. The hope is
good environmental performance will increase company performance, as proposed by [20] that industry today
became very concerned with environment aspects because they believe it affect on company financial
report.Companies with good environmental performance use proactive environmental strategy have an urge to
inform investors and other stakeholders about their strategy through voluntary environmental information
disclosure and the disclosure wide [41]. There is a positive and significant relationship between environmental
performance as measured by ratio of waste recycled or TRI (toxic releases index) and level of environmental
disclosure index as measured by GRI (Global Reporting Initiative) [16]. Study [62] proved that environmental
performance that measured with PROPER has positive and significant impact on environmental information
disclosure. Based on descriptions above, this research hypothesis is:H6: environmental performance affects
environmental information disclosure
2.7. Environmental Performance, Environmental Disclosure and Company Value
Study [41] shows there is effect between environmental performance and disclosure content. There is
significant positive effect of company’s decision to disclose information on tendency of pollution generated.
According to [49], companies with good environmental performance are still not affecting the extent of
environmental disclosure level. Adversely, research of [4] actually found a significant positive effect between
environmental performance with environmental disclosure, thus it can be interpreted that better environmental
performance will create higher environmental disclosure level. This is further supported by results of [62] that
environmental performance positively affects on environmental disclosure. Eco-efficiency proposed by [51] and
[9] stated that there is a relationship between environmental performance and financial performance through
cost efficiencies generated by good environmental performance.
Manager should change its strategy related to environmental performance, by further highlight the
attention to prevention of pollution and environmental damage (pollution prevention costs), rather than on cost
of handling pollution and environmental damage (pollution abatement costs) ([57], [4]). Investment in sewage
treatment program for short term looked affect on earnings, but in long run it will give a good image because
there are no regulatory violations and company value will increase [64]. Based on above research, it predicted
that level of environmental disclosure affect on company's financial performance. Company performance is
company value that based on Tobin’s q. Tobin’s q measurements has been done by previous researchers such as
[66]. Performance measurement with Tobin’s q is believed to provide an overview of company market
valuation, because Tobin’s q is obtained from the equity market value plus book value of debt divided by book
value of assets. It shows not only on fundamental aspects, but also company's market valuation. Based on
descriptions above, this research hypothesis is:
H7:
Environmental performance affects on company value through environmental information disclosure
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III. CONCEPTUAL FRAMEWORK FOR RESEARCH
Conceptual framework is a conceptual model related to how a researcher makes a logical understanding
and relationship among several factors that have been identified in a problem. Systematic theoretical framework
preparation is believed will assist in hypotheses development and certain relationships test, thereby improving
researchers' understanding of dynamics situation under study [59]Eco-efficiency can explain relationship
between environmental performance and company value through cost efficiency ([12], [14], [36]). This view
was rejected by traditional perspective that efforts to improve environmental performance by improving
business environment will decrease profits. Adversely, pollution or poor environmental performance precisely
reflects resources that have not been fully used, less effective and efficient. It will lead to increased costs to
address externalities, so that will have an impact on company profits [51]. However, it will different when
pollution levels are reduced in accordance with regulations. Therefore companies can be categorized as efficient
in handling pollution when not get sanctions that followed by reduced costs to be borne by company. For more
details, conceptual framework of this research can be presented in figure below.
Figure 1. Research Conceptual Framework
X1
Y1
Y2
X2
Description
X1: Environmental Accounting Implementation
X2: Environmental Performance
Y1: Environmental Information Disclosure
Y2: Company Value
IV. METHODS
This is a quantitative research with explanatory approach. Study population come from directory of
Indonesia Stock Exchange of 2010. Based on Indonesian Capital Market Directory (ICMD) in 2010, populations
are 179 companies. Sample was determined by using purposive sampling method. The criteria used are follows:
1) companies listed on Indonesia Stock Exchange in 2010 period, 2) Company is contained in company's annual
report of BEI directory in 2010, 3), company presents environmental disclosure in annual reports or
sustainability reports, 4) must answer questionnaire, 5) questionnaires sent back by respondents, 6) variables are
available completely in annual report or sustainability report 2010. Based on that criteria, final samples obtained
were 59 companies.This research uses primary data that collected using questionnaires and secondary data from
Indonesia Stock Exchange and Indonesian Capital Market Directory. Environment Accounting Implementation
variables (X1) is measured by dimensions and indicators that developed from environmental Quality Cost
Model approach of [37], [34], [67]. Environmental Performance variables (X2) is measured by rating results in
environmental management or PROPER for 2010 period that conducted by Ministry of Environment. Disclosure
Environment variables (Y1) was measured by dichotomy procedure, with score 0 if disclosure item is not
applicable, a score 1 if applying GRI. Company value is measured by Tobin’s q.The data obtained was analyzed
using PLS (Partial Least Square). Reasons for using PLS in this study because the sample size was small and the
research model uses formative and reflective indicators. PLS is a derivative of SEM that based on a variant or
covariance [60].
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V. RESULTS AND DISCUSSION
Coefficients analysis of inner model the effect of environmental accounting implementation on
company value resulting path coefficient value of 0.503 with a t-statistic value of 8.631. Because value of t-test
> 1.96 at 5 % level of significance, it can be concluded that environmental accounting implementation affect on
company value. Positive coefficient indicates that inner model of environmental accounting implementation
affect on company value positively.Managements that integrates environmental management in their business
analysis will takes into account cost and efficiency of environmental programs, potentially would reduce
environmental impact of products and production processes, such as company prepares related data regarding
the amount and purpose of energy, water, and raw materials usage [40]. Furthermore, it is analyzed the costs and
benefits in relation to how much the costs absorbed by the final product, then see how the rest of ingredients are
absorbed into waste. According to [21] environment is a critical element of accounting related to data records in
physical or monetary units. In line with previous statements, [58] within [10] noted the importance to explores
measurement of environmental aspects in standardization assessment of physical flows (such as energy,
materials, waste) as well as the relation to cost [54].Management need physical information to control
environmental impact resulted, such as quantity of gas emissions, waste, and quantity of recycled waste
treatment, and then define emission and waste reduction targets ([58]
within [10]). Environmental cost information is useful for control to make efficiency [13]. It allows companies to
prioritize prevention of environmental damage before it occurs, because the environmental damage handling will incur far
greater cost than prevention. It is consistent with [4] that manager should change its strategy towards environmental
performance, through suppression costs related to pollution prevention and environmental damage (pollution prevention
costs) from handling of pollution and environmental damage (pollution abatement costs).This finding is consistent with
previous studies of [43], [50], [37]. These results prove that environmental accounting implementation indicators can be
developed through dimensions of physical environmental accounting and environmental accounting monetary. This study is
consistent with previous studies as [55], [44], [25], that there are significant effect of environmental accounting
implementation on company value. Environmental accounting implementation makes company can control environment cost
in which previously disadvantaged due to integrated control cost to overhead expenses ([63] within [19]). Furthermore,
environmental accounting implementation can identify measure and allocating environmental costs appropriately to process
or product. It makes managers easier make control and efficiency. Then [19] added that cost control facilitate information
presentation related to efficiency achievement that can help in designing management reporting with respect to
environmental information disclosure. It able to provide positive information to stakeholders and increase company value.
One dimension of environmental accounting implementation is the monetary or environmental costs
dimension. Environmental accounting implementation will calculate and record environmental costs absorbed.
According to [47] in [26] there is a balance between companies that have not invested in environmental aspect,
then for cost, product price will be able to compete compared with companies that investing in environment
aspects that will have a high cost. But there are consumers who care, capable and interested in environmental
aspects. They are members of community of Socially Responsible Investors (SRI). It is an organization of
environmentally concerned investors, refuses to invest in companies that do not care about environment, arguing
that if they invest to that company then indirectly will harm environment.Analysis the effect of environmental
accounting implementation on environmental information disclosure resulting path coefficient values of 0.431
and t-statistic of 5.244. Because t-statistic > 1.96, then the 5% level of significance can obtained. It can be
concluded that environmental accounting implementation affect on environment information disclosure. Positive
coefficient indicates that inner model of environmental accounting implementation has effect on environmental
information disclosure.This finding is consistent with previous studies of [17], [18] to prove the effect of
environmental accounting implementation on environment information disclosure. Through environmental
accounting implementation, in addition to give data and information to management to be used to assess
environmental impacts related to investments, it also able to improve environmental performance after
analyzing costs and benefits as well as efficiency of environmental programs, presenting further data and
information on environmental costs and then determine whether these costs are treated as capital costs if they
have long-term benefits and is treated as an operating cost benefit for short-term (annual). Data and information
regarding environmental cost assessment is used by management for benefit or preparation of environmental
information disclosure to stakeholders. Data and information related to environmental information disclosure is
included in accounting data, especially with regard to physical dimensions of environmental accounting such as
number of materials, energy and water usage as well as amount of emissions and waste generated.Financial
point of view [67] show that EFA is focused on reporting environmental liabilities, then considering significant
environmental costs, presenting the financial information related to environment as investments value in
pollution control equipment or waste processing, and making report to external stakeholders. It means external
functions will facilitate data presentation and disclosure for environmental accounting implementation exposure
[13].
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8. Effect Of Environmental Accounting…
Environmental accounting implementation is relevant to be considered in order to identify
environmental problems costs such as laboratorium fees for emissions testing, contamination testing, air
handling unit to keep air in plant comfortable, contingent cost related to value of damage caused by company
activities. Another thing beyond measurement that needs attention is allocation of environmental costs for
groupings, whether as overhead costs, by averaging products value that produced in one period. However,
allocation of environmental costs into overhead costs is a measure that is less convincing because not all
products and processes have the same contribution to environment.Analysis of inner model the relationship
between the variable environmental disclosures on company value generates path coefficient value of 0.130 with
a t-statistic value of 2.122. Because value of t-statistic > 1.96 with 5% level of significance, it can be concluded
that information environment disclosure affect on company value. Inner model with positive coefficient
indicates that environmental information disclosure affect on company value.These findings can be interpreted
that environmental information disclosure significantly affect on company value, but environmental information
disclosure has not been fully done.
It suggests that information orientation within annual report is more focused on financial performance.
It means management considerations in presenting annual report and sustainability report more specific on
stakeholder groups, namely management and shareholders.Empirically, environmental information disclosure is
directed to get legitimacy from relevant stakeholders as well as company's operations to create a company
image. Environmental disclosure was not a reflection of awareness on environmental preservation. As expressed
by [22] and [49], environmental disclosure is made for business strategy to acquire legitimacy and create
images. It is proved empirically that companies listed on Stock Exchange makes environmental disclosure only
to obtain stakeholders legitimacy. As described in descriptive analysis of previous section, majority of
environmental information disclosure level is still within narrative and qualitative form. Environmental
programs do not fully integrate with business processes.
This result proves that company is concerned about environment that reflected in vision and mission.
But information is only narrative, but not fully integrated into financial reporting that reflects conservation cost.
Environmental information disclosure indicates company’s compliance with government regulations (Law No.
23 of 1997 and Law no. 25 and no. 40 of 2007). It determined that any industrial manufacturing company with
environment operations required to preserve environment, although disclosure level by company is still has not
been carried out, and in an effort to comply with regulations that require company to make report on
environmental responsibility implementation.Some underlying reasons of why more extensive environmental
disclosure able to give effect on company value. First, awareness of environmental disclosures by companies the
longer the better it is in line with the increasing demands of public, NGO, and government as well as most of
investors who are very concerned about environment. Publication of Law. No. 25 of 2007 in a comprehensive
set of investment and environmental management, and law. No.. 40 of 2007 which regulates environmental
responsibility is a strategic step in effort to raise awareness of owners of capital. Second, adverse selection
argument says that company has not been able to follow the disclosure policy in an industry that is interpreted
by the market that company is hiding bad news. Third, environmental disclosures made to provide security for
investors, and potential investors on investment (protective information). Fourth, environmental disclosure is
made into a political tool to change company's outlook (image) stakeholders on company activity and avoid the
pressure and criticism from environmental activists [21].
In addition, management's decision to make the disclosure is based on vigorous demands and
movement of several community groups, especially environmental group, encourage businesses industry to have
environmental preservation awareness. Many environmental issues that arise is suspected by the community
because impact of exploitation process and industrial operations. Public awareness demands honest
entrepreneurs in providing environmental information disclosed in annual report and sustainability report, so
society selective to choose products with environment awareness.Management is urged to inform stakeholders
about what has been done in order to preserve environment. In relation to environmental preservation or
environment conservation, it aims to create healthier work environment, conducive, and to encourage efficiency
because may wipe out any claims or damages become disappear. For companies whose main business is natural
resources exploitation, they should to conduct environmental efforts to conserve natural resources, and can
survive in long term. Sustainability of natural production factors can be maintained and can eventually create a
sustainable business environment.
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9. Effect Of Environmental Accounting…
Environmental damage due to pollution or environmental pollution will lead to inefficient company's
operations. It will lead to social costs that must be borne by company and local government. In addition,
selecting factors of production (raw material) with good quality and efficient materials usage can reduce waste
and the end increase company profit.MOU between Ministry of Environment and Bank Indonesia (BI) is signed
in 2005. This agreement then followed by BI regulation No. 7/2/PBI/2005. Banks regulation in credit appraisal
and environmental aspects become a factor in credit scoring. BI use PROPER rating to assess credit worthiness
at annual reports or sustainability reports that disclose environmental conservation.Test results of indirectly
affect produce path coefficients of 0,056. It can be interpreted that environmental accounting implementation
has an indirect effect on company value through environmental information disclosure. It proved from
probability value of 0.339 > 0.05. It means insignificant at 95% confidence level. The test results show there has
not been enough empirical evidence to accept the hypothesis (H4) that better environmental accounting
implementation affect on company value through environmental information disclosure. But by looking at
positive sign, it means path coefficient the effect of environmental accounting implementation on company
value through environmental information disclosure is unidirectional.
Test results indicate that environmental accounting implementation has not been able to affect
company value through environmental information disclosure because companies calculate and recording
environmental aspects of physical and monetary (environmental accounting implementation) but has not been
fully integrated with company reporting. It was explained earlier that company makes environmental accounting
implementation because required by regulation. Furthermore, environmental disclosure content was still little
applied. It demonstrates lack of awareness on management part.Coefficient analysis result of models inner the
effect of environmental performance on company value generates path coefficient value of 0.397 with a tstatistic values of worth 5.536. Because value t-statistic > 1.96 at 5% significance level, it can be said that
environmental performance affect on company value. Positive coefficient of inner model indicates that
environmental performance affect on company value.
This finding is consistent with previous studies of [57], [16], [24], [64], [12], [48], that environmental
performance affect on company value. It also supports eco-efficiency that suggests a relationship between
environmental performance and company value through cost efficiency to improve environmental performance.
According to [51] and [9], lower pollution levels actually increase efficiency that able to reduce costs. It will
increase company profits, reduce emission of pollution below the required level. Company able to increase
compliance with the regulations so overcome liability problem. It followed by an increase in reputation as a
company concerned about environment. Through the good reputation company appreciated by investors and
prospective investors.Companies with good environmental performance will be followed by a good financial
position, because it increase efficiency, consolidate financial situation and meet the demands of company
stakeholders [48]. If management ignores environmental factors when designing strategic policy, in long term
company will lose the ability to compete [51] within [48].
Coefficient analysis of inner model the effect of environmental performance on environmental
information disclosure produced path coefficient value of 0.298 with a t-value of 4.091. Because the value of ttest> 1.96 at 5 % level of significance, can be concluded that environmental performance affect on
environmental information disclosure. Positive coefficient of inner model indicates that environmental
performance affect on environmental information disclosure.This finding is consistent with previous research of
[16], [35], [4], [62] that there environmental performance affect on environmental information disclosure. These
results also reinforce voluntary/discretionary disclosure theory [65], [23], [4], [16]. It stated that good
environmental performance will encourage companies to conduct environmental information disclosure because
good environmental performance is a good news.
But its effect has not been included in good category. It means that environmental performance has not
been able to affect company in doing environmental information disclosure. This is partly due PROPER ratings
as environmental performance indicators that on average still have trend in not good category. There is
possibility the companies still doing environmental disclosure, but using rhetoric as a method for greenwashing.
These results are consistent with a study of [41] that company's environmental performance has positive and
insignificant effect on environmental disclosure level. Insignificant relationships is due to no oversight on
environmental information disclosure so companies management are free to use discretionary information report
and have not been able to give a positive effect on investors perception to pay attention to environmental
information issues.
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10. Effect Of Environmental Accounting…
Companies that included PROPER ranking assessment seeks to meet provisions required or PROPER
assessment criteria, and then express it in a company's annual report. Company's participation in ranking
PROPER IDX has not been obliged. To encourage companies to comply environmental regulations, it is
necessary to create government oversight system. Surveillance system was created in form of rules or laws that
require companies to list environment conservation as well as reporting in annual report and sustainability
report. Furthermore, it made technical report, and then assign items that must listed in environmental disclosure
(mandatory disclosure). This time environment information disclosures is still voluntary. Standards to regulate
environmental reporting process are made according to manufacturing industry type.This is consistent with
legitimacy and stakeholder theory which emphasizes that organizations must consider general public rights, not
only shareholders only. Legitimacy theory assumes that there is a social contract between organization and local
community. This social contract meant that community allows organization to carry out its operations if the
operations meet their expectations. Failure to meet society expectations makes organization will be sanctioned,
for example in form of legal restriction, limitation of resources, resulting reduction in products demand, or
claims damage by people.
In addition, effect of other factors such as environment regulatory, business climate and competitive
strategy also makes effect of environmental performance on environmental information disclosure has not been
good. Environment regulatory and business climate become dominant factor that affecting environmental
information disclosure [29].Indirect effects testing produce an path coefficient estimation value of 0.039. It can
be interpreted that of environmental performance does not have indirect effect on company value through
environmental information disclosure. This is evident from probability value of 0.361. Probability value greater
than 0.05 means insignificant at 95% confidence level. Test results show there has not been enough empirical
evidence to accept hypothesis that better environmental performance affects company value through
environmental information disclosure. Sign a positive path coefficient the effect of environmental performance
on company value through environmental information disclosure means the effect is unidirectional.
The test results indicate that environmental performance has not been able to affect company value
through environmental information disclosure. It is because most environmental information disclosure from
manufacturing companies that listed on Indonesia Stock Exchange only revealed vision, mission, and business
strategy related to environment, does not in quantitative form that integrated with financial statements. It can be
proven empirically that environmental disclosure implementation level is still relatively low. The empirical
evidence is consistent with management behavior in preparing annual report which is still oriented on financial
performance. On other hand, stakeholder’s appraisal on operational company performance has not been based
on environmental performance. In other words, environmental performance has not been able to create a
positive perception of stakeholders. This results become management consideration in preparing annual report
and sustainability information report that is more focused on financial performance.This result is inconsistent to
studies of [25] that environmental disclosure has positive affect on company value that proxied by Tobin’s q. It
states that there is a relationship between company performance with environmental responsibility and company
value. Results of previous studies also prove that level of environmental disclosure has a positive effect on
company value. It is reflected in Tobin’s q proxy value. That is, better environmental performance will affects
environmental disclosures by management followed by an increase in positive perception of company's
stakeholders. Financial performance and environmental performance disclosure is good news that will improve
or change external parties (stakeholders) perception (company image). Furthermore, positive image increase
company's reputation and then appreciated by stakeholders such as investors (potential investors). Through good
reputation then company value can be capitalized, classified, and reported in intangible assets at annual report.
These results provide ample empirical evidence that environmental disclosure can enhance positive image in
stakeholder’s eyes. It can further enhance company's value, but the level is still relatively not a good. That is,
information about environment that has been disclosed in annual report can not be appreciated properly by
shareholders and other capital market participants. Assessment of market participants is still oriented on
financial performance.
VI. CONCLUSIONS AND RECOMMENDATIONS
6.1 Conclusions
Based on research findings, the following conclusions can be put forward. First, environmental
accounting implementation is able to give an effect on company value. Cost control facilitates information
presentation with respect to efficiency achievement and assist in designing management reporting with respect
to environmental information disclosure. It is able to provide positive information to stakeholders followed by
company value increase.
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Second, environmental accounting implementation is able to affect on environmental information
disclosure. Through external functions, environmental accounting implementation facilitates the data
presentation and information for environmental information disclosure.Third, environmental information
disclosure affect on company value. Environmental information disclosure indicates that company obedient to
regulations. Company’s awareness to environmental information disclosure becomes better. It is consistent with
higher demands of public, NGO, and government as well as most of investors who very concerned about
environment.
Fourth, environmental accounting implementation has not been able to make an effect on company
value. Companies make environmental accounting implementation because obliged by regulation. Furthermore,
analysis of environmental disclosure content was still little applied, still dominant at partial level. This proves
there is low awareness on management part.Fifth, environmental performance is able to affect on company
value.
It is consistent with eco-efficiency. There is relationship between environmental performance and
company value through cost efficiency to improve environmental performance.Sixth, environmental
performance has insignificant positive effect on environmental information disclosure. Good environmental
performance will encourage companies to conduct environmental disclosure because good environmental
performance is good news. This insignificant relationships is related to environmental information disclosure
that not monitored so companies management are free to use discretionary information report.Seventh,
environmental performance can affect on company value through environmental information disclosure.
Environmental information disclosure is partial dominant, only reveals vision, mission, and strategy related to
business environment, but not in a quantitative form that is integrated with the financial statements.
6.2 Suggestions
Based on some research limitations, suggestions for next researcher presented as follows. First, items
of environmental information disclosure assessment are based on GRI criteria Version 3.1 [34] that is still too
little. Number of items is only 68 in 5 categories. It is advisable to develop disclosure items that suitable with
environmental conditions for companies in Indonesia, for example to taken account an explanation of
environmental costs components.Secondly, period of annual report and sustainability report which analyzed
only in 2010. Future studies can use longitudinal data in order to know the progress and development of
environment disclosure practices. In addition, it needs to add a proxy to measure environmental performance in
addition to PROPER.Third, value determination of environmental disclosure score measurement should involve
opinion from specialists who have obtained a certificate from the NCSR (National Center for Sustainability
Report). It also needs to test the difference between expert’s perceptions and researchers. If the test results are
significant, we can conclude there is no difference in perception.
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