PENGARUH EKO-EFISIENSI TERHADAP COST OF EQUITY CAPITAL (Studi Empiris pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia)

• Main Authors: , LISA ALVIANI, , MAHFUD SHOLIHIN, Ph. D.
• Format: Theses and Dissertations NonPeerReviewed
• Published: [Yogyakarta] : Universitas Gadjah Mada 2014
• Subjects: ETD
• Online Access: https://repository.ugm.ac.id/129067/; http://etd.ugm.ac.id/index.php?mod=penelitian_detail&sub=PenelitianDetail&act=view&typ=html&buku_id=69445
• Institution: Universitas Gadjah Mada

The objective of the research is to find out empirical evidence of the influence of ecoefficiency on cost of equity capital. The population of this research is manufacturing company listed on Indonesia Stock Exchange, and the sample was determined based on purposive sampling, so there are 94 manufacturing companies being research sample. This research used secondary data taken from Company�s Annual Report. Ecoefficiency was measured by ISO 14001 certification achieved. Cost of equity capital was measured by Utami Model (2005). The research hypotheses were tested using multi linear regression analysis with book to market ratio, size, leverage, and beta risk as control variables. The result of this research shows that ecoefficiency had negative significant influence on cost of equity capital. This indicates that companies which applying ecoefficiency had less cost of equity capital compared with companies that do not apply ecoefficiency.