Pengaruh Green Accounting dan Struktur Modal Terhadap Kinerja Keuangan dengan Kepemilikan Institusional Sebagai Variabel Moderating pada Perusahaan Pertambangan yang Terdaftar di BEI Periode 2021-2024

Abstract

This study empirically examines the extent to which Green Accounting (GA) and Capital Structure (CS) shape the Financial Performance (FP) of mining firms listed on the Indonesia Stock Exchange during 2021–2024, with Institutional Ownership (IO) introduced as a moderating variable. A quantitative causal framework was adopted; samples were drawn through purposive criteria, yielding 58 usable firm-year observations after outlier treatment. Analytical methods include multiple ordinary-least-squares regression and Moderated Regression Analysis (MRA) executed in SPSS 26. Key findings show that GA carries a positive but non-significant coefficient on FP, whereas CS exerts a statistically significant negative effect. Neither variable jointly explains FP at conventional significance levels. IO, however, proves to be an effective moderator: it dampens the positive GA–FP link and attenuates CS's negative impact on FP. The explanatory power of the full moderated model reaches 9.5%, up from 2.7% without moderation, implying that the remaining variance in FP is driven by macro-level factors beyond the model.