JBPD

Article Details

Vol. 6 No. 1 (2026): Juli

Articles

Green Accounting on Return on Assets (ROA): The Moderating Role of Environmental Performance

R Riani Puasarin G Gema Ika Sari M Mochamad Fahru Komarudin
16 July 2026 Vol. 6 No. 1 (2026): Juli https://doi.org/10.35912/jbpd.v6i1.7044
Abstract
16 Jul 2026

Purpose: This study examines the effect of Green Accounting on Return on Assets (ROA), with environmental performance as a moderating variable among banks in the State-Owned Bank Association (HIMBARA) during 2020–2025.
Research Methodology: A quantitative approach was employed using Moderated Regression Analysis (MRA) with SPSS. The sample consisted of 96 quarterly observations derived from the financial statements and sustainability reports of HIMBARA banks over the 2020–2025 period.
Results: The findings show that Green Accounting has a positive and significant effect on ROA, while environmental performance has no significant direct effect on ROA. However, environmental performance significantly moderates and strengthens the relationship between Green Accounting and ROA. The regression model explains 30.4% of the variation in ROA.
Conclusions: Green Accounting contributes significantly to improving financial performance, while stronger environmental performance enhances its effectiveness in increasing bank profitability.
Limitations: The study is limited to HIMBARA banks and the 2020–2025 period, restricting the generalizability of the findings. The model also indicates that other financial, managerial, and macroeconomic factors may influence profitability.
Contributions: This study supports Stakeholder Theory, Legitimacy Theory, and the Resource-Based View by demonstrating the strategic role of environmental performance in strengthening the relationship between Green Accounting and financial performance in state-owned banks.

Keywords: CSR Environmental Performance Green Accounting HIMBARA Moderation Return on Aset
How to Cite
“
Puasarin, R., Sari, G. I., & Komarudin, M. F. (2026). Green Accounting on Return on Assets (ROA): The Moderating Role of Environmental Performance. Jurnal Bisnis Dan Pemasaran Digital, 6(1), 135–155. https://doi.org/10.35912/jbpd.v6i1.7044
Endnote/Zotero/Mendeley (RIS) BibTeX
References
  1. Ainin, S., Parveen, F., Moghavvemi, S., Jaafar, N. I., & Mohd Shuib, N. L. (2015). Factors influencing the use of social media by SMEs and its performance outcomes. Industrial Management & Data Systems, 115(3), 570-588. https://doi.org/10.1108/IMDS-07-2014-0205
  2. Almasyhari, A. K., Rachmadani, W. S., & Sari, Y. P. (2025). Strategic decision-making: Linking corporate choices, social responsibility, and environmental accounting in waste management. Social Sciences & Humanities Open, 11(6), 101404. https://doi.org/10.1016/j.ssaho.2025.101404
  3. Anderson, N., Potočnik, K., & Zhou, J. (2014). Innovation and creativity in organizations: A state-of-the-science review, prospective commentary, and guiding framework. Journal of management, 40(5), 1297-1333. https://doi.org/10.1177/0149206314527128
  4. Anisariza, N. U., Purwaningsih, E., Basrowi, B., & Ventayen, R. J. M. (2025). Legal protection model for superior village products based on digital transformation and the role of village-owned enterprise (BUMDes). LAW REFORM, 21(2), 444-481. https://doi.org/10.14710/lr.v21i2.66142
  5. Berkat, Setinawati, & Basrowi. (2025). The role of educational management in enhancing innovation and problem-solving competencies for students towards global competitiveness: A literature review. Social Sciences & Humanities Open, 11(1), 101280. https://doi.org/10.1016/j.ssaho.2025.101280
  6. Dahlan, A., Shafia, M., Tatung, T., & Basrowi, B. (2025). Digital transformation: The role of AI, social dynamics, and political support on the quality of strategic decisions and their implications for the progress of Islamic banking in Malaysia and Indonesia. International Journal of Data and Network Science, 9(3), 701-716. https://doi.org/10.5267/j.ijdns.2024.6.011
  7. Daud, D., & Gusnita, A. (2026). Implementation of prevention and investigation programs in organizational oversight. Studi Ilmu Manajemen dan Organisasi, 7, 405-415. doi:. https://doi.org/10.35912/simo.v7i1.6369
  8. Fauzi, F., Basrowi, B., & Wulandari, W. I., Rita. (2025). Fostering sustainability through leadership and employee personality traits. Sustainable Futures, 9(1), 1-12. https://doi.org/10.1016/j.sftr.2025.100502
  9. Fauzi, F., Effendi, R., & Basrowi, B. (2024). Utilization of big data and cloud computing platforms for the smooth processing of financial ac-counting system data and its implications for the success of village development. International Journal of Data and Network Science, 8(3), 2015-2028. https://doi.org/10.5267/j.ijdns.2024.1.012
  10. Fauzi, F., Effendi, R., Basrowi, B., & Muslihudin, M. (2024). The influence of supply chain and knowledge-oriented leadership on the performance of village financial system operators and its implications on the level of village welfare. Uncertain Supply Chain Management, 12(3), 1935-1948. https://doi.org/10.5267/j.uscm.2024.2.010
  11. Foltean, F. S., Trif, S. M., & Tuleu, D. L. (2019). Customer relationship management capabilities and social media technology use: Consequences on firm performance. Journal of Business Research, 104, 563-575. doi:. https://doi.org/10.1016/j.jbusres.2018.10.047
  12. Hair, J., Hult, G. T. M., Ringle, C., & Sarstedt, M. (2022). A Primer on Partial Least Squares Structural Equation Modeling (PLS-SEM): Sage Publishing.
  13. Hasibuan, R. R., Suliyanto, S., & Novandari, W. (2026). Using social media marketing to improve marketing performance: The role of digital customer-centric intimacy capability. Studi Ilmu Manajemen dan Organisasi, 7(1), 1-20. https://doi.org/10.35912/simo.v7i1.6325
  14. Huo, D., Zheng, Q., & Pei, L. (2023). Investigating the characteristics of urban comprehensive hospitals from a supply–demand balance perspective: A case study of three districts in Shenzhen based on Multi-Source Data. Sustainability, 15(4), 3327. https://doi.org/10.3390/su15043327
  15. Junedi, B., & Basrowi, Y. (2024). IT-based learning innovation and critical thinking skills concerning students’ mastery of materials and their implications on academic achievement. International Journal of Data and Network Science, 8(3), 1999-2014. https://doi.org/10.5267/j.ijdns.2024.1.013
  16. Komarudin, M. F. (2025). Analysis of Company Competitive Advantage through the Application of Environmental Management Accounting. https://doi.org/10.59613/mjbms.v3i2.280
  17. Komarudin, M. F., Hasanudin, A. I., Hanifah, I. A., & Mulyasari, W. (2026). The influence of institutional regulations, environmental management strategies, and organizational performance with environmental accounting management as a mediating variable. Accountancy Business and the Public Interest. Retrieved from https://abpi.uk/index.php/issues/
  18. Kraus, S., Breier, M., & Dasí-Rodríguez, S. (2020). The art of crafting a systematic literature review in entrepreneurship research. International Entrepreneurship and Management Journal, 16(3), 1023-1042. https://doi.org/10.1007/s11365-020-00635-4
  19. Lopes, J. M., Silveira, P., Farinha, L., Oliveira, M., & Oliveira, J. (2021). Analyzing the root of regional innovation performance in the European territory. International Journal of Innovation Science, 13(5), 565-582. https://doi.org/10.1108/IJIS-11-2020-0267
  20. Maulidia, N. A., Afifah, N., Pebrianti, W., Juniwati, J., & Heriyadi, H. (2026). The effect of discount live-stream and bundling product on impulse buying through positive emotions. Studi Ilmu Manajemen dan Organisasi, 7(1), 21-35. https://doi.org/10.35912/simo.v7i1.4799
  21. Mukt, K. T., Basrowi, Muti’ah, E., Juwita, Isnarini, E., Dewi, W. R., & Yusuf, F. A. (2025). Folklore Debus Banten tourism management towards sustainability using virtual augmented (Va) and augmented reality (Ar) applications based on folktale text transformation. Paper presented at Paper presented at the AIP Conference Proceedings.
  22. Nambisan, S., Wright, M., & Feldman, M. (2019). The digital transformation of innovation and entrepreneurship: Progress, challenges and key themes. Research policy, 48(8), 103773. https://doi.org/10.1016/j.respol.2019.03.018
  23. Nurdiana, R. (2026). Career development and work motivation towards organizational commitment and employee performance. Studi Ilmu Manajemen dan Organisasi, 7(1), 53-73. https://doi.org/10.35912/simo.v7i1.5168
  24. Nuryanto, U., Basrowi, B., Quraysin, I., Pratiwi, I., & Utami, P. (2024). Halal product supply chain and sharia banking support for halal product commerce and its implications for halal product sharia economic growth in Indonesia. Uncertain Supply Chain Management, 12(3), 1949-1968. https://doi.org/10.5267/j.uscm.2024.2.009
  25. Nuryanto, U., Yusuf, F., Junedi, B., Pratiwi, I., & Basrowi, B. (2025). The role of AI and big data in increasing the success of e-commerce assistance and its implications on the quality of MSME capacity development models with disabilitie. International Journal of Data and Network Science, 9(4), 1175-1192. https://doi.org/10.5267/j.ijdns.2024.8.025
  26. Nuryanto, U. W., Quraysin, I., & Pratiwi, I. (2024b). Magnitude of digital adaptability role: Stakeholder engagement and costless signaling in enhancing sustainable MSME performance. Heliyon, 10(13). https://doi.org/10.1016/j.heliyon.2024.e33484
  27. Parida, V., Sjödin, D. R., Lenka, S., & Wincent, J. (2015). Developing global service innovation capabilities: How global manufacturers address the challenges of market heterogeneity. Research-Technology Management, 58(5), 35-44. https://doi.org/10.5437/08956308X5805360
  28. Pratiwi, I., Saefudin, A., Sari, G. I., Maliki, B. I., & Nuryano, U. W. (2025). Green human capital and organizational performance: The role of employee environmental awareness and sustainable innovation in achieving organizational sustainability. Innovation and Green Development, 4(3), 1-18. https://doi.org/10.1016/j.igd.2025.100244
  29. Purwaningsih, E., Muslikh, M., & Fathurahman, M. (2024). Optimization of branding and value chain mapping using artificial intelligence for the batik village clusters in indonesia to achieve competitive advantage. Data & Metadata, 3, 1-14. doi:. https://doi.org/10.56294/dm2024.620
  30. Putri, R. L., Asnawi, R., Hanif, Z., Normal, I. N., Sinaini, L., Saputra, M. H., . . . Yasin, A. (2025). Strategic synergy: Artificial intelligence, organizational databases, and profitability enhancement with risk management as the mediator. International Journal of Data and Network Science, 9(4), 1051-1066. https://doi.org/10.5267/j.ijdns.2024.9.015
  31. Rialti, R., & Zollo, L. (2023). Digital Transformation of SME Marketing Strategies: Innovating for the 4.0 Era.
  32. Roni, A. (2026). Event marketing management and city competitiveness: Mediation of Bandung City Branding. Studi Ilmu Manajemen dan Organisasi, 7(1), 389-404. https://doi.org/10.35912/simo.v7i1.6291
  33. Sari, G. I., Winasis, S., Pratiwi, I., & Nuryanto, U. W. (2024). Strengthening digital literacy in Indonesia: Collaboration, innovation, and sustainability education. Social Sciences & Humanities Open, 10(1), 1-20. https://doi.org/10.1016/j.ssaho.2024.101100
  34. Siagian, D., Situmorang, R., Simbolon, Y., Tarigan, J., Harefa, A., Poniman, P., & Sirait, K. (2026). An exploratory sequential mixed-method study on ghost-demography and economic exclusion in automated economies. Studi Ilmu Manajemen dan Organisasi, 7(1), 433-453. https://doi.org/10.35912/simo.v7i1.6432
  35. Sok, P., O'Cass, A., & Sok, K. (2013). Achieving superior SME performance: Overarching role of marketing, innovation, and learning capabilities. Australasian Marketing Journal (AMJ), 21(3), 161-167. https://doi.org/10.1016/j.ausmj.2013.04.001
  36. Suherman, E., Pranata, R. M., Sumarni, N., & Suroso, S. (2026). Workplace ostracism and employee performance: The interactive roles of leader-member exchange and gender. Studi Ilmu Manajemen dan Organisasi, 7(1), 417-432. https://doi.org/10.35912/simo.v7i1.6364
  37. Sukidin, S. H., Choirul, & B, B. (2025). Shaping democracy in Indonesia: The influence of multicultural attitudes and social media activity on participation in public discourse and attitudes toward democracy. Social Sciences & Humanities Open, 11(3), 1-11. https://doi.org/10.1016/j.ssaho.2025.101440
  38. Suseno, B. D., Dian, K., & Basrowi. (2026). The role of social problem of auditee as a predictor of compliance and the follow-up on auditor findings. Account and Financial Management Journal, 11(5), 4472-4479. https://doi.org/10.47191/afmj/v11i5.05
  39. Teece, D. J., Pisano, G., & Shuen, A. (1997). Dynamic capabilities and strategic management. Strategic Management Journal, 18(7), 509-533. https://doi.org/10.1142/9789812796929_0003
  40. Trainor, K. J., Andzulis, J. M., Rapp, A., & Agnihotri, R. (2014). Social media technology usage and customer relationship performance: A capabilities-based examination of social CRM. Journal of Business Research, 67(6), 1201-1208. https://doi.org/10.1016/j.jbusres.2013.05.002
  41. Triyani, F., Etika, C., & Verawati, H. (2026). Effect of advertising rates, the number of listeners and companies that advertise on revenue receipts. Studi Ilmu Manajemen dan Organisasi, 7(1), 37-51. https://doi.org/10.35912/simo.v7i1.5044
  42. Uda, S., Prasetyo, D., Dopo, E., & Uda, S. (2024). Basrowi,“Development of Mobile Learning Application System for Environmental Science Material (SARITHA-Apps),”. Int. J. Inf. Educ. Technol, 14(3), 452-463. https://doi.org/10.18178/ijiet.2024.14.3.2066
  43. Waluyo, W., & Basrowi, B. (2024). Influence of the profitability of tax rates and exchange rates one determining transfer pricing decisions: An Empirical Evidence from Indonesia. Quality – Access to Success, 25(203), 203. https://doi.org/10.47750/QAS/25.203.21
  44. Wang, C. L., & Ahmed, P. K. (2007). Dynamic capabilities: A review and research agenda. International Journal of Management Reviews, 9(1), 31-51. https://doi.org/10.1111/j.1468-2370.2007.00201.x
  45. Widodo, Z. D., Kurniawati, S. B., Ambarwati, R., & Kusumawati, E. (2026). Enhancing inclusive talent management and financial management literacy through digitalization to improve human resource performance. Studi Ilmu Manajemen dan Organisasi, 7(1), 455-469. https://doi.org/10.35912/simo.v7i1.6422
  46. Zhou, J., & Hoever, I. J. (2014). Research on workplace creativity: A review and redirection. Annu. Rev. Organ. Psychol. Organ. Behav, 1(1), 333-359. https://doi.org/10.1146/annurev-orgpsych-031413-091226
License & Copyright
Creative Commons License

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.