Main Article Content
Abstract
This study aims to provide empirical evidence regarding the effect of Corporate Social Responsibility (CSR) disclosure on financial performance. This study also examines the effect of Environmental Uncertainty (EU) as a moderating variable on the relationship between CSR disclosure and the financial performance of companies listed on the Indonesian Stock Exchange (IDX) in 2019-2020. The study’s secondary data is from annual reports, sustainability reports, and financial information. This study measures CSR disclosure by the Global Reporting Initiative (GRI) G4 standard, return measures financial performance on Equity (ROE), and the EU is measured using a dummy variable. The observations (firm-years) in this study were 673. This study tests the hypothesis by multiple linear regression analyses. This study provides two results. First, CSR disclosure has a positive effect on financial performance. Second, the EU as a moderating variable does not affect the relationship between CSR disclosure and financial performance.
Keywords
Article Details
Copyright (c) 2023 Ni Komang Apriliani Selumbung, I Putu Sugiartha Sanjaya
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
Authors who publish with this journal agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).
References
- Ahyani, R., & Puspitasari, W. (2019). Pengaruh corporate social responsibility terhadap kinerja keuangan pada perusahaan properti dan real estate yang terdaftar di Bursa Efek Indonesia Tahun 2013-2017. Jurnal Akuntansi Trisakti, 6(2), 245-262. https://doi.org/10.25105/jat.v6i2.5479
- Arieza, U. (2021, Agustus 13). Babak belur ekonomi dihajar 1,5 tahun pandemi. Retrieved from CNN Indonesia: https://www.cnnindonesia.com/ekonomi/20210811220610-532-679242/babak-belur-ekonomi-dihajar-15-tahun-pandemi
- BPS. (2020). Agustus 2020: Tingkat Pengangguran Terbuka (TPT) sebesar 7,07 persen. Retrieved from bps.go.id: https://www.bps.go.id/pressrelease/2020/11/05/1673/agustus-2020--tingkat-pengangguran-terbuka--tpt--sebesar-7-07-persen.html
- BPS. (2021). Ekonomi Indonesia 2020 turun sebesar 2,07 persen (c-to-c). Retrieved from bps.go.id: https://www.bps.go.id/pressrelease/2021/02/05/1811/ekonomi-indonesia-2020-turun-sebesar-2-07-persen--c-to-c-.html
- CNN. (2020). Negara yang dinilai sukses tekan kasus corona dengan lockdown. Retrieved from cnnindonesia.com: https://www.cnnindonesia.com/internasional/20200419170127-113-495051/negara-yang-dinilai-sukses-tekan-kasus-corona-dengan-lockdown
- CNN. (2021). Penyebab pertumbuhan ekonomi RI Minus 2,07 persen pada 2020. Retrieved from cnnindonesia.com: https://www.cnnindonesia.com/ekonomi/20210206080350-532-603013/penyebab-pertumbuhan-ekonomi-ri-minus-207-persen-pada-2020
- CNN. (2021). Unilever sinergikan purpose perusahaan, brand, dan konsumen. Retrieved from cnnindonesia.com: https://www.cnnindonesia.com/gaya-hidup/20210817180503-307-681587/unilever-sinergikan-purpose-perusahaan-brand-konsumen
- Djumena, E. (2020). Dampak pandemi covid-19, pemerintah akui daya beli masyarakat melemah. Retrieved from money.kompas.com: https://money.kompas.com/read/2020/10/06/050800026/dampak-pandemi-covid-19-pemerintah-akui-daya-beli-masyarakat-melemah
- Fatah, K. A., & Haryanto, M. (2016). Pengaruh pengungkapan corporate social responsibility terhadap profitabilitas perusahaan: studi empiris pada perusahaan manufaktur sektor industri dasar dan kimia yang terdaftar di Bursa Efek Indonesia. Jurnal Ekonomi dan Bisnis (EKONOMIS), 10.
- Ghozali, I. (2018). Aplikasi analisi multivariate dengan program IBM SPSS 25. Badan Penerbit Universitas Diponegoro.
- Goll, I., & Rasheed, A. (2004). The moderating effect of environmental munifence and dynamism on the relationship between discretionary social responsibility and firm performance. Journal of Business Ethics, 49, 41-54.
- Gordon, L., & Narayanan , V. (1984). Management accounting systems, perceived environmental uncertainty and organization structure: an empirical investigation. Accounting, Organization and Society.
- Hartono, J. (2016). Metodologi penelitian bisnis: salah kaprah dan pengalaman-pengalaman. Yogyakarta: BPFE UGM.
- Kominfo. (2020). Pemerintah upayakan daya beli masyarakat terjaga di masa pandemi. Retrieved from kominfo.go.id: https://www.kominfo.go.id/content/detail/29210/pemerintah-upayakan-daya-beli-masyarakat-terjaga-di-masa- pandemi/0/berita
- Kren, L., & Kerr, J. (1993). The effect of behavior monitoring and uncertainty on the use of performance contingent compresation. Accounting and Business Research, 23, 159-167.
- Mahendra, R. (2016). ISOCENTERINDONESIA. Retrieved from isoindonesiacenter.com: https://isoindonesiacenter.com/sekilas-tentang-iso-26000/
- Milliken, F. (1987). Three types of perceived uncertainty about the environment: state, effect, and response uncertainty. Academy of Management Review, 12(1), 133-143.
- Muriithi, S., Walters, B., & Gilley, O. (2020). Corporate social responsibility engagement, economic policy uncertainty, and firm financial performance. Journal of Business Strategies, 37, 1-21.
- Pulungan, S., & Krisnawati, A. (2021). Pengaruh pengungkapan corporate social responsibility terhadap kinerja keuangan perusahaan subsektor industri makanan dan minuman. Jurnal Ilmiah MEA (Manajemen, Ekonomi, Akuntansi)
- Rankin, M., Ferlauto, K., McGowan, S., & Stanton , P. (2018). Contemporary Issues in Accounting. Australia: John Wiley & Sons Australia, Ltd.
- Rusiana, D. A. (2021). IDX Channel. Retrieved from idxchannel.com: https://www.idxchannel.com/economics/ini-alasan-pemerintah-tidak-menerapkan-lockdown-hingga-penjelasan-soal-perubahan-nama
- Sakti, Y., & Pudjolaksono, E. (2017). Pengaruh pengungkapan CSR terhadap kinerja keuangan perusahaan sektor pertambangan yang terdaftar di BEI periode 2012-2015. Jurnal Akuntansi dan Teknologi Informasi (JATI), 11, 1-16.
- Sudaryanti, D., & Riana, Y. (2017). Pengaruh pengungkapan CSR terhadap kinerja keuangan perusahaan. Jurnal Penelitian Teori & Terapan Akuntansi (PETA), 2(1), 19-31.
- Sun, W., & Price, J. (2016). The impact of environmental uncertainty on increasing customer satisfaction through corporate social responsibility. European Journal of Marketing, Vol. 50.
- Wulandari, S. (2020). Pengaruh corporate social responsibility (CSR) disclosure terhadap profitabilitas perusahaan. Jurnal Ekonomi Akuntansi dan Manajemen, 19.
- Yadnyana , I. K., & Damanik, I. (2017). Pengaruh kinerja lingkungan pada kinerja keuangan dengan pengungkapan corporate social responsibility sebagai variabel intervening. E-Jurnal Akuntansi Universitas Udayana, 20(1), 645-673.
References
Ahyani, R., & Puspitasari, W. (2019). Pengaruh corporate social responsibility terhadap kinerja keuangan pada perusahaan properti dan real estate yang terdaftar di Bursa Efek Indonesia Tahun 2013-2017. Jurnal Akuntansi Trisakti, 6(2), 245-262. https://doi.org/10.25105/jat.v6i2.5479
Arieza, U. (2021, Agustus 13). Babak belur ekonomi dihajar 1,5 tahun pandemi. Retrieved from CNN Indonesia: https://www.cnnindonesia.com/ekonomi/20210811220610-532-679242/babak-belur-ekonomi-dihajar-15-tahun-pandemi
BPS. (2020). Agustus 2020: Tingkat Pengangguran Terbuka (TPT) sebesar 7,07 persen. Retrieved from bps.go.id: https://www.bps.go.id/pressrelease/2020/11/05/1673/agustus-2020--tingkat-pengangguran-terbuka--tpt--sebesar-7-07-persen.html
BPS. (2021). Ekonomi Indonesia 2020 turun sebesar 2,07 persen (c-to-c). Retrieved from bps.go.id: https://www.bps.go.id/pressrelease/2021/02/05/1811/ekonomi-indonesia-2020-turun-sebesar-2-07-persen--c-to-c-.html
CNN. (2020). Negara yang dinilai sukses tekan kasus corona dengan lockdown. Retrieved from cnnindonesia.com: https://www.cnnindonesia.com/internasional/20200419170127-113-495051/negara-yang-dinilai-sukses-tekan-kasus-corona-dengan-lockdown
CNN. (2021). Penyebab pertumbuhan ekonomi RI Minus 2,07 persen pada 2020. Retrieved from cnnindonesia.com: https://www.cnnindonesia.com/ekonomi/20210206080350-532-603013/penyebab-pertumbuhan-ekonomi-ri-minus-207-persen-pada-2020
CNN. (2021). Unilever sinergikan purpose perusahaan, brand, dan konsumen. Retrieved from cnnindonesia.com: https://www.cnnindonesia.com/gaya-hidup/20210817180503-307-681587/unilever-sinergikan-purpose-perusahaan-brand-konsumen
Djumena, E. (2020). Dampak pandemi covid-19, pemerintah akui daya beli masyarakat melemah. Retrieved from money.kompas.com: https://money.kompas.com/read/2020/10/06/050800026/dampak-pandemi-covid-19-pemerintah-akui-daya-beli-masyarakat-melemah
Fatah, K. A., & Haryanto, M. (2016). Pengaruh pengungkapan corporate social responsibility terhadap profitabilitas perusahaan: studi empiris pada perusahaan manufaktur sektor industri dasar dan kimia yang terdaftar di Bursa Efek Indonesia. Jurnal Ekonomi dan Bisnis (EKONOMIS), 10.
Ghozali, I. (2018). Aplikasi analisi multivariate dengan program IBM SPSS 25. Badan Penerbit Universitas Diponegoro.
Goll, I., & Rasheed, A. (2004). The moderating effect of environmental munifence and dynamism on the relationship between discretionary social responsibility and firm performance. Journal of Business Ethics, 49, 41-54.
Gordon, L., & Narayanan , V. (1984). Management accounting systems, perceived environmental uncertainty and organization structure: an empirical investigation. Accounting, Organization and Society.
Hartono, J. (2016). Metodologi penelitian bisnis: salah kaprah dan pengalaman-pengalaman. Yogyakarta: BPFE UGM.
Kominfo. (2020). Pemerintah upayakan daya beli masyarakat terjaga di masa pandemi. Retrieved from kominfo.go.id: https://www.kominfo.go.id/content/detail/29210/pemerintah-upayakan-daya-beli-masyarakat-terjaga-di-masa- pandemi/0/berita
Kren, L., & Kerr, J. (1993). The effect of behavior monitoring and uncertainty on the use of performance contingent compresation. Accounting and Business Research, 23, 159-167.
Mahendra, R. (2016). ISOCENTERINDONESIA. Retrieved from isoindonesiacenter.com: https://isoindonesiacenter.com/sekilas-tentang-iso-26000/
Milliken, F. (1987). Three types of perceived uncertainty about the environment: state, effect, and response uncertainty. Academy of Management Review, 12(1), 133-143.
Muriithi, S., Walters, B., & Gilley, O. (2020). Corporate social responsibility engagement, economic policy uncertainty, and firm financial performance. Journal of Business Strategies, 37, 1-21.
Pulungan, S., & Krisnawati, A. (2021). Pengaruh pengungkapan corporate social responsibility terhadap kinerja keuangan perusahaan subsektor industri makanan dan minuman. Jurnal Ilmiah MEA (Manajemen, Ekonomi, Akuntansi)
Rankin, M., Ferlauto, K., McGowan, S., & Stanton , P. (2018). Contemporary Issues in Accounting. Australia: John Wiley & Sons Australia, Ltd.
Rusiana, D. A. (2021). IDX Channel. Retrieved from idxchannel.com: https://www.idxchannel.com/economics/ini-alasan-pemerintah-tidak-menerapkan-lockdown-hingga-penjelasan-soal-perubahan-nama
Sakti, Y., & Pudjolaksono, E. (2017). Pengaruh pengungkapan CSR terhadap kinerja keuangan perusahaan sektor pertambangan yang terdaftar di BEI periode 2012-2015. Jurnal Akuntansi dan Teknologi Informasi (JATI), 11, 1-16.
Sudaryanti, D., & Riana, Y. (2017). Pengaruh pengungkapan CSR terhadap kinerja keuangan perusahaan. Jurnal Penelitian Teori & Terapan Akuntansi (PETA), 2(1), 19-31.
Sun, W., & Price, J. (2016). The impact of environmental uncertainty on increasing customer satisfaction through corporate social responsibility. European Journal of Marketing, Vol. 50.
Wulandari, S. (2020). Pengaruh corporate social responsibility (CSR) disclosure terhadap profitabilitas perusahaan. Jurnal Ekonomi Akuntansi dan Manajemen, 19.
Yadnyana , I. K., & Damanik, I. (2017). Pengaruh kinerja lingkungan pada kinerja keuangan dengan pengungkapan corporate social responsibility sebagai variabel intervening. E-Jurnal Akuntansi Universitas Udayana, 20(1), 645-673.