Intellectual Capital Disclosure and Green Accounting on Stock Prices with Return on Assets (ROA) as a Moderating Variable (Study of Companies Listed on the Jakarta Islamic Index for the Period 2018-2023)

Abstract

The Jakarta Islamic Index (JII) is the first sharia-based stock index and is an indicator to show price movements of a group of selected sharia stocks. Evaluation of share prices is something that investors need to pay attention to because high share prices reflect an increase in market demand for company shares, and vice versa. This research aims to identify the influence of intellectual capital and green accounting on share prices which are moderated by ROA in companies listed on JII 30. The method used is quantitative. The research population includes all companies registered on JII 30, with samples taken using purposive sampling techniques. The 2018-2023 research period used annual report data from selected companies and then processed it with Eviews 12 software. The results of the research show that simultaneously VACA, VAHU, STVA, green accounting and ROA have a positive and significant effect on stock prices. Meanwhile, partially only VACA, VAHU, STVA and ROA have a significant effect on share prices. In addition, ROA only moderates the effect of VAHU on stock prices, but does not moderate the effect of VACA, STVA, and green accounting on stock prices.