Does Eco-Efficency Reduce the Cost of Equity Capital? Empirical Evidence from Indonesia  

Oleh:

Alviani, Lisa ; Sholihin, Mahfud

Jenis: Article from Journal - ilmiah nasional - terakreditasi DIKTI
Dalam koleksi: Journal of Indonesian Economy & Business (Jurnal Ekonomi & Bisnis Indonesia) vol. 30 no. 2 (May 2015), page 173 – 182.
Topik: cost of equity capital; eco-efficiency; ISO 14001; environmental accounting
Fulltext: 9966-18351-1-PB_ros.pdf (172.13KB)

Isi artikel

The objective of this study is to examine the effect of eco-efficiency on the cost of equity capital. The study hypothesizes that the implementation of eco-efficiency reduces the cost of equity capital. Using manufacturing companies listed on the Indonesian Stock Exchange for the period 2010-2012 as data, and controlling for beta, company size, Book to Market ratio, and leverage; the study finds that the implementation of eco-efficiency may reduce the cost of equity capital. The findings suggest that companies should implement ecoefficency.

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