Pengaruh Corporate Social Responsibility terhadap Kinerja Perusahaan: Studi pada Perusahaan Consumer Goods Industry yang terdaftar di Bursa Efek Indonesia Periode 2018-2022
DOI:
https://doi.org/10.47747/snfmi.v2i1.2443Abstract
This study aimed to examine the effect of the Corporate Social Responsibility components, namely economic, environmental and social components on firm performance which is controlled by firm size and leverage in consumer goods industry companies listed on the Indonesia Stock Exchange. Firm performance is measured using Return on Assets (ROA). The independent variables used in this research are the economic component of CSR (CSRI ECO), the environmental component of CSR (CSRI ENV), and the social component of CSR (CSRI SOC). The sample used in this study is consumer goods industry companies listed on the Indonesia Stock Exchange during the 2018-2022 period. The total sample was 31 companies taken using the purposive sample method. The analytical method used is multiple regression analysis with the IBM SPSS Statistics 27 program, which previously passed the classical assumption test. The research results show that the economic component of CSR (CSRI ECO) and the environmental component of CSR (CSRI ENV) have a positive and significant effect on company performance. Meanwhile, the social component of CSR (CSR SOC) has a negative and significant effect on company performance. In addition, the control variable firm size (SIZE) has a positive and significant effect on company performance, while leverage (DAR) has a negative and significant effect on company performance.
References
Alghizzawi, M. A., Youssef, M. A., Zraiq, M. A., & Elmassri, M. (2022). The Relationship Between Corporate Social Responsibility and Firm Performance: Evidence from Jordan. Cogent Business & Management, Volume 9, Nomor 1.
Anggraini, D. (2013). Pengaruh Good Corporate Governance terhadap Nilai Perusahaan pada Perusahaan Textile, Garment yang Terdaftar di Bursa Efek Indonesia (BEI) Periode 2009-2012 . Jurnal Jurusan Akuntansi Fakultas Ekonomi Universitas Maritim Raja Ali Haji Tanjungpinang.
Ashraf, S., Ilyas, R., Imtiaz, M., & Tahir, H. M. (2017). Impact of CSR on Customer Loyalty: Putting Customer Trust, Customer Identification, Customer Satisfaction and Customer Commitment into Equation-A study on the Banking Sector of Pakistan. International Journal of Multidisciplinary and Current Research, Volume 5.
Bhattacharyya, A., & Rahman, M. L. (2019). Mandatory CSR Expenditure and Firm Performance. Journal of Contemporary Accounting and Economics, 15.
Buallay, A. (2019). Is Sustainability Reporting (ESG) Associated with Performance? Evidence from the European Banking Sector. Management of Environmental Quality: An International Journal, Vol. 30, No. 1, 98-115.
Ferri, G., & Pini, M. (2019). Environmental vs Social Responsibility in the Firm: Evidence from Italy. Sustainability, 11(6), 4277.
Ghozali, I. (2016). Aplikasi Analisis Multivariete dengan Program IBM SPSS 23. Semarang: Badan Penerbit Universitas Diponegoro.
Matar, A., & Eneizan, B. (2018). Determinants of Financial Performance in the Industrial Firms: Evidence from Jordan. Asian Journal of Agricultural Extension, Economics & Sociology, 22(1), 1-10.
Melawati, et al. (2016). Pengaruh Good Corporate Governance, CSR, dan Ukuran Perusahaan Terhadap Kinerja Perusahaan. Journal of Economic and Economic Education, Vol.4 No.2, 210-226.
Miller, S. R., Eden, L., & Li, D. (2020). CSR Reputation and Firm Performance: A Dynamic Approach. Journal of Business Ethics, 163(3), 619-636.
Moslemany, R. E., & Etab, M. (2017). The Effect of Corporate Social Responsibility Disclosures on Financial . The Business and Management Review, Volume 8 Number 5.
Nguyen, T. V., Bui, H. T., & Le, C. H. (2022). The Impacts of Corporate Social Responsibility to Corporate Financial Performance: A Case Study of Vietnamese Commercial Banks. Cogent Economics & Finance, Volume 10, Nomor 1.
Partalidou, X., Zafeiriou, E., Giannarakis, G., & Sariannidis, N. (2020). The Effect of Corporate Social Responsibility Performance on Financial Performance: The Case of Food Industry. Benchmarking: An International Journal, Volume 27, Issue 10.
Phan, T. T., Tran, H. X., Le, T. T., Nguyen, N., Pervan, S., & Tran, M. D. (2020). The Relationship between Sustainable Development Practices and Financial Performance: A Case Study of Textile Firms in Vietnam. Sustainability, Volume 12.
Saeed, A., Alnori, F., & Yaqoob, G. (2023). Corporate Social Responsibility, Industry Concentration, and Firm Performance: Evidence from Emerging Asian Economies. Research in International Business and Finance 64.
Saputra, S. (2016). Pengaruh Leverage, Profitabilitas, dan Size terhadap Pengungkapan Corporate Social Responsibility pada Perusahaan di BEI. Journal of Economic and Economic Education, Volume 5 No.1, 75-89.
Setiawati, L. (2005). Pengaruh Kinerja Sosial Perusahaan terhadap Kinerja Keuangan: Ukuran, Risiko Bisnis, dan Aktivitas Penelitian dan Pengembangan Perusahaan sebagai Variabel Moderating (Studi Kasus pada Perusahaan-perusahaan Indonesia). Skripsi, Universitas Sebelas Maret.
Sudana, I. (2011). Manajemen Keuangan Perusahaan Teori dan Praktik. Jakarta: Erlangga.
Suryani, E., & Fajaryani N.L.G.S. (2018). Struktur Modal, Likuiditas, dan Ukuran Perusahaan terhadap Kinerja Keuangan Perusahaan. Jurnal Riset Akuntansi Kontemporer, Vol. 10 No. 2.
Tharshiga, P., Subramaniam, V. A., & Anandasayanan, S. (2016). Impact of Leverage on Corporate Profitability: A Study on Listed Financial Sector in Sri Lanka. University of Jaffna Sri Lanka.
Tjahjadi, B., Soewarno, N., & Mustikaningtiyas, F. (2021). Good corporate governance and corporate sustainability performance in Indonesia: A triple bottom line approach. Heliyon, 7(3).
Uyar, A., Karamahmutoglu, M. K., Koseoglu, M. A., & Kuzey, C. (2020). The Link Among Board Characteristics, Corporate Social Responsibility Performance, and Financial Performance: Evidence from the Hospitality and Tourism Industry. Tourism Management Perspectives, Elsevier Ltd.
Wang, H., Choi, J., & Li, J. (2008). Too Little or Too Much? Untangling The Relationship Between Corporate Philanthropy and Firm Financial Performance. Organization Science, 19(1), 143-159.
Wang, H., & Qian, C. (2011). Corporate Philanthropy and Corporate Financial Performance: The Roles of Stake Holder Response and Political Access. Academy of Management Journal, 54(6), 1159-1181.
Weber, O. (2017). Corporate Sustainability and FInancial Performance of Chinese Banks. Sustainability Accounting, Management and Policy Journal, Volume 8, Issue 3.
