Hidayati, Uli (2026) Pengaruh Praktik Greenwashing Terhadap Kinerja Keuangan, Product Market Competition, dan Harga Saham dengan Liputan Media sebagai Variabel Moderasi (Studi pada Perusahaan yang Terdaftar di Bursa Efek Indonesia). Undergraduate thesis, UPN Veteran Jawa Timur.
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Abstract
Greenwashing, whereby firms communicate environmental performance beyond their actual practices, has become increasingly prevalent as stakeholder demands for sustainability intensify. Understanding its impact on firm performance is critical given the mixed findings in existing literature, as well as the limited research in Indonesia, where no specific anti-greenwashing regulation exists. This study aims to examine the effect of greenwashing on financial performance, product market competition, and stock price, along with the moderating role of media coverage. A quantitative approach using panel data regression was applied to 31 firms listed on the Indonesia Stock Exchange from 2020 to 2024. Greenwashing was measured using the Greenwashing Index (GWI), financial performance was proxied by return on assets (ROA), product market competition was measured using the Herfindahl-Hirschman Index (HHI), stock price was proxied by cumulative abnormal return (CAR), and media coverage was measured using the Janis-Fadner coefficient. Results indicate that greenwashing positively affects financial performance, but has no significant effect on product market competition or stock price. Media coverage was not proven to moderate the effect of greenwashing on any of the three dependent variables. These findings suggest that undetected greenwashing can function as an effective legitimacy signal in Indonesia, while media has yet to serve as a meaningful external monitor. This study contributes to the development of greenwashing literature in Indonesia and offers practical implications for regulators in formulating more effective anti-greenwashing policies.
| Item Type: | Thesis (Undergraduate) | ||||||||
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| Subjects: | H Social Sciences > HF Commerce > HF5601 Accounting | ||||||||
| Divisions: | Faculty of Economic and Business > Departement of Accounting | ||||||||
| Depositing User: | Uli Hidayati | ||||||||
| Date Deposited: | 02 Jun 2026 04:09 | ||||||||
| Last Modified: | 02 Jun 2026 04:09 | ||||||||
| URI: | https://repository.upnjatim.ac.id/id/eprint/53365 |
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