ABSTRACT : This study aims to examine the effect of green accounting disclosure, financial performance, and firm characteristics on firm value with institutional ownership as a moderating variable in consumer non-cyclicals firms listed on the Indonesia Stock Exchange during 2021–2023. A quantitative causal approach was employed using secondary data from annual reports and sustainability reports of 35 firms selected through purposive sampling. Data analysis was conducted using multiple linear regression and Moderated Regression Analysis (MRA) with SPSS 25. The results reveal that green accounting disclosure, financial performance (ROA), and firm size have a positive and significant impact on firm value. Meanwhile, institutional ownership has no direct effect on firm value but significantly strengthens the relationship between financial performance and firm value, while its moderating effect on green accounting and firm size is insignificant. These findings highlight that sustainability disclosure and profitability are the main determinants of firm value, whereas institutional investors tend to focus more on financial performance as a basis for valuation.

KEYWORDS Green Accounting Disclosure, Financial Performance, Firm Size, Firm Value, Institutional Ownership