Pengaruh Green Innovation dan Green Investment terhadap Nilai Perusahaan dengan Ukuran Perusahaan sebagai Variabel Moderasi

Firm value is a key indicator of business sustainability amid increasing global environmental pressures. This study examines the effect of Green Innovation and Green Investment on Firm Value with Firm Size as a moderating variable in companies listed on the IDX LQ45 Low Carbon Leaders index. The study also addresses the paradox in which Green Innovation increases initial costs that have not yet generated short-term economic value. In creating firm value, company size plays an important role through its ability to access capital and manage risks. This research aims to analyze the effect of Green Innovation and Green Investment on Firm Value with Firm Size as a moderating variable in IDX LQ45 Low Carbon Leaders companies during the 2022–2024 period. The study employs a Moderated Regression Analysis using the Moderated Regression Analysis (MRA) method with research data from 2022–2024. The results show that Green Innovation has a negative and significant effect on Firm Value, while Green Investment has a negative and insignificant effect on Firm Value. Furthermore, Firm Size significantly and positively moderates the relationship between Green Innovation and Firm Value, but does not significantly moderate the relationship between Green Investment and Firm Value.