This study aims to examine the relationships between environmental performance, financial leverage, as well as institutional ownership and firm value. In this study, firm value is measured with Tobin's Q ratio. The sample used in this study was 20 manufacturing firms listed at the Indonesia Stock Exchange with the observation period between 2016-2019; so, the total observations made were 80. Multiple regression analysis using SPSS application was carried out to scrutinize the data. The results

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... f this study indicate that all independent variables tested, namely environmental performance, financial leverage, and institutional ownership, have positive influences on firm value. These results provide a good signal for the investors to continuously invest in manufacturing firms. In addition, good environmental performance has an impact on firms' positive image.