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The Effect of Sustainable Finance on Firm Value with Investment Opportunity Set as Moderating Variable
Abstract
The purpose of this study is to analyze the the effect of Sustainable Finance on Firm Value with Investment Opportunity Set (IOS) as moderating variable for the period 2017 to 2019. Sustainable finance is calculated using SFD value (total value of sustainability disclosure) with PJOK 51. Firm value is calculated using ratio of Tobin's Q and Investment Opportunity Set is calculated using market to book value ratio. The population in this study are banking companies listed on the Indonesia Stock Exchange during the 2017-2019. The data used in this study is secondary data and there were 37 companies using purposive sampling method. The results of the study show that the Sustainable Finance has no significant effect on Firm Value. The use of a moderating variable Investment Opportunity Set (IOS) is able to strengthen the influence of sustainable finance and firm value
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DOI: https://doi.org/10.33258/birci.v5i3.6523
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