FIRM PERFORMANCE AND ENVIRONMENTAL PERFORMANCE ON STOCK PRICES: INVESTMENT OPPORTUNITY SET AS A MODERATION
DOI:
https://doi.org/10.36563/dtzhkx15Keywords:
Firm Performance, Environmental Performance, Investment Opportunity Set, Stock Price, Consumer Non-Cyclicals SectorAbstract
This study aims to analyze the effect of Firm Performance and Environmental Performance on stock prices with Investment Opportunity Set (IOS) as a moderating variable in consumer non-cyclical companies listed on the Indonesia Stock Exchange for the 2021–2024 period. This research uses secondary data in the form of financial statements, annual reports, and sustainability reports, with a total sample of 28 companies selected through purposive sampling. The analytical methods employed are multiple linear regression and Moderated Regression Analysis (MRA). The results show that Firm Performance has a positive but insignificant effect on stock prices, while Environmental Performance also has no significant effect. In addition, IOS is unable to moderate the effect of either Firm Performance or Environmental Performance on stock prices. These findings indicate that firm performance, Environmental Performance, and investment opportunity set have not yet become key considerations for investors in assessing stock prices within the consumer non-cyclical sector in Indonesia.
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