The Effect of Green Innovation and Eco-Efficiency on Financial Performance with Good Corporate Governance as A Moderating Variable

Authors

  • Komang Cyntia Utami Universitas Pendidikan Nasional Denpasar, Indonesia
  • Ni Putu Budiadnyani Universitas Pendidikan Nasional Denpasar, Indonesia

DOI:

https://doi.org/10.59141/jrssem.v5i5.1244

Keywords:

green innovation, eco-efficiency, financial performance, good corporate governance, energy sector

Abstract

This study examines the influence of green innovation and eco-efficiency on financial performance with good corporate governance (GCG) as a moderating variable in energy sector companies listed on the Indonesia Stock Exchange (IDX) during 2022-2024. The research employs quantitative methods using Partial Least Squares-Structural Equation Modeling (PLS-SEM) analysis with a sample of 180 observations from energy sector companies over three years selected through purposive sampling. The results indicate that green innovation negatively and significantly affects financial performance, while eco-efficiency positively and significantly impacts financial performance. Furthermore, GCG weakens the influence of green innovation on financial performance but strengthens the positive influence of eco-efficiency on financial performance. These findings provide insights for companies in balancing environmental innovation with operational efficiency under effective corporate governance to optimize financial performance in the energy sector.

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Published

2025-12-22

How to Cite

Utami, K. C., & Budiadnyani, N. P. (2025). The Effect of Green Innovation and Eco-Efficiency on Financial Performance with Good Corporate Governance as A Moderating Variable. Journal Research of Social Science, Economics, and Management, 5(5), 9348–9361. https://doi.org/10.59141/jrssem.v5i5.1244

Issue

Vol. 5 No. 5 (2025): Journal Research of Social Science, Economics, and Management

Section

Articles

License

Copyright (c) 2025 Komang Cyntia Utami, Ni Putu Budiadnyani

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