Hasan Mukhibad, Ahmad Nurkhin, Dessy Ekaviana, Christian Wiradendi Wolor, Tiara Saharani Fatimah, Junjung Rahardian Tunggal
This research aims to analyze the determinants of environmental performance in Indonesian manufacturing companies. This study uses firm performance, asset turnover, debt, and intellectual capital as predictive factors influencing environmental performance. This research observed 161 listed manufacturing companies in Indonesia from 2019 to 2023 and analysed them using a fixed-effects regression model. Based on 730 firm-years, this study reports that intellectual capital and firm debt do not affect environmental disclosure. Firm performance indicates that high company resources are available for environmental activities, so firm financial performance has a positive effect on environmental disclosure. However, firm activities have a negative impact on environmental disclosure. These results are robust after testing by modifying the main research model. This study contributes to expanding previous literature by empirically demonstrating the role of intellectual capital on environmental performance, which is still limited in its references. © 2025 Published under licence by IOP Publishing Ltd.
Department of Accounting, Faculty of Economics and Business, Universitas Negeri Semarang, Semarang, Indonesia; Department of Accounting Education, Faculty of Economics and Business, Universitas Negeri Semarang, Semarang, Indonesia; Department of Management, Faculty of Economics, Universitas Negeri Jakarta, Jakarta, Indonesia; Department of Accounting, Faculty of Economics and Business, Universitas Negeri Semarang, Semarang, Indonesia
