GOOD CORPORATE GOVERNANCE MODERATES THE EFFECT OF ENVIRONMENTAL PERFORMANCE AND SOCIAL PERFORMANCE ON FINANCIAL PERFORMANCE
DOI:
https://doi.org/10.35145/icobima.v1i1.2741Keywords:
Environmental Performance, Social Performance, Financial Performance, Good Corporate GovernanceAbstract
This study aims to determine the effect of environmental performance and social performance on financial performance with good corporate governance as a moderating variable. This research was conducted on service companies listed on the Indonesian Stock Exchange (IDX) during 2017-2021. This type of research is quantitative research with a sampling technique using a purposive sampling method. The type of data used in this study is secondary data obtained from annual reports and sustainability reports obtained indirectly through intermediaries or internet media. Data analysis in this study used descriptive analysis, classical assumption testing, multiple linear regression analysis, and moderate regression analysis (MRA). The results showed that: environmental performance affects financial performance, social performance affects financial performance, Good Corporate Governance strengthens the influence of environmental performance on financial performance, and Good Corporate Governance weakens the impact of social performance on financial performance.
Downloads
Download data is not yet available.
References
Adil, M., & Winarsih, E. 2019. “Pengaruh Kinerja Sosial Dan Kinerja Lingkungan Terhadap Kinerja Keuangan Pt. Indonesia Powerâ€. AJAR, Volume 2, Nomor 2 (hlm. 49-64).
Aguilera, R.V, Williams, dan Ganapathi. 2007. Putting the Sback in Corporate Social Responsibility: A Multilevel theory of Social change in Organization. Academy of Management Review, Vol. 3, No. 32, hal. 836-863.
Brammer, Stephen J dan Stephen Pavelin. 2006. Corporate Reputation and Social Performance: The Importance of Fit. Journal of Management Studies. Vol. 32, Issue 3, 435-455.
Bukhori, Mochamad Rizki Triansyah. 2017. “Pengaruh Pengungkapan Sustainability Report Terhadap Kinerja Keuanganâ€. Jurnal Penelitian, Volume 2, Nomor 1. Hlm. 35-48.
Chandra, T., Renaldo, N., & Putra, L. C. (2018). Stock Market Reaction towards SPECT Events using CAPM Adjusted Return. Opción, Año 34(Especial No.15), 338–374.
Deegan, C. 2004. Financial Accounting Theory. McGraw-Hill Book Company: Sydney.
Freeman, R.E. dan J. McVea. 2001. “A Stakeholder Approach to Strategic Managementâ€. Business; Corporate Law: Law & Finance eJournal.
Hendarti, Henny. 2006. Peranan Biaya Sosial dalam Meningkatkan Kinerja Sosial dan Keuangan Perusahaan High dan Low Profile. Journal The WINNERS, Vol. 7, No. 2, Hal. 128-143.
Liana, Lie. 2009. “Penggunaan MRA dengan Spss untuk Menguji Pengaruh Variabel Moderating terhadap Hubungan antara Variabel Independen dan Variabel Dependenâ€. Jurnal Teknologi Informasi DINAMIK Vol. 54, No. 2, Hal 90-97.
Machmud, Novita dan D. Djakman Chaerul. 2008. “Pengaruh Struktur Tahunan Perusahaanâ€. Simposium Nasional Akuntansi XI, Pontianak
Maqbool, S dan Zameer. 2018. Corporate Social Responsibility and Financial Performance: An Empirical analysis of Indian Banks. Future Business Journal, Vol. 4, No. 1, Hal. 84-93
Merawati, Luh Komang. 2015. Peran mekanisme Good Corporate Governance dalam Hubungan Kinerja Lingkungan dengan Kinerja Keuangan. Jurnal Manjemen & Akuntansi STIE Triatma Mulya, Vol. 21, No. 2, Hal. 157-168.
Natalia, Ria dan Josua Tarigan. 2014. “Pengaruh Sustainability Report Terhadap Kinerja Keuangan Perusahaan Publik dari Sisi Profitability Ratioâ€. Business Accounting Review, Volume 2, Nomor 1. Hlm. 111-120.
Neubaum, Donald O dan shaker A. Zahra. 2015. Institutional Ownership and Corporate Social performance: The Modertaing Effects of Investement Horizon, Activsm, and Coordination. Journal of Management, Vol. 32, No. 1, hal. 108-131.
Permatasari, F., & Widianingsih, L. P. 2019. Pengungkapan Corporate Social Responsibility terhadap Kinerja Keuangan dengan Good Corporate Governance sebagai Variabel Moderasi. Media Akuntansi dan Perpajakan Indonesia, Volume 1 Nomor 2.
Rahmawati, Mia Ika dan Anang Subardjo. 2017. “Pengaruh Pengungkapan Lingkungan dan Kinerja Lingkungan Terhadap Kinerja Ekonomi yang Dimoderasi Good Corporate Governanceâ€. Jurnal Buletin Studi Ekonomi, Volume 22, Nomor 2.
Raiyani, Jagdish R. 2019. Does Enviromental Performance Improve Financial Performance? An Empirical Study on Selected NSE Listed Companies. The Orissa Journal of Commerce, Vol. 4, No. 4, Hal. 42-51.
Renaldo, N., Sudarno, S., & Hutahuruk, M. B. (2020). Internal Control System Analysis on Accounts Receivable in SP Corporation. The Accounting Journal of Binaniaga, 5(2), 73. https://doi.org/10.33062/ajb.v5i2.382
Renaldo, N., Sudarno, & Hutahuruk, M. B. (2020). The Improvement of Generation Z Financial Well-being in Pekanbaru. Jurnal Manajemen Dan Kewirausahaan, 22(2), 142–151. https://doi.org/10.9744/jmk.22.2.142-151
Renaldo, N., Sudarno, S., Hutahuruk, M. B., Suyono, & Suhardjo. (2021). Internal Control System Analysis on Accounts Receivable in E-RN Trading Business. The Accounting Journal of Binaniaga, 6(2), 81–92. https://doi.org/10.33062/ajb.v5i2.382
Renaldo, N., & Augustine, Y. (2022). The Effect of Green Supply Chain Management, Green Intellectual Capital, and Green Information System on Environmental Performance and Financial Performance. Archives of Business Research, 10(10), 53–77. https://doi.org/10.14738/abr.1010.13254
Rosyid, Ahmad. 2015. “Pengaruh Kinerja Sosial dan Kinerja Lingkungan Terhadap Kinerja Keuanganâ€. Jurnal Penelitian Volume 12, Nomor 1, Mei 2015. Hlm. 72-85
Sari, Intan Ayu Permata. 2019. Pengaruh Pengungkapan Sustainability Reporting terhadap Keuangan Perusahaan di Indonesia. International Journal of Social Science and Business, Vol 3, No. 3, Hal. 206-214.
Setiawan, Doni Agus. (2020). “Bukan Manufaktur Lagi, Ternyata Sektor Ini yang Diminati Investorâ€. Tersedia pada https://news.ddtc.co.id/bukan-manufaktur-lagi-ternyata-sektor-ini-yang-diminati-investor-18648?page_y=700 (Diakses pada 23 Oktober 2022).
Shafariani, Dhesy Eka putri. 2013. Pengaruh tanggung Jawab Sosial Perusahaan terhadap Kinerja Keuangan dengan Tata Kelola Perusahaan sebagai Pemoderasi. Jurnal Reviu Akuntansi, Vol. 3, No. 2
Sudarno, Renaldo, N., Hutahuruk, M. B., Junaedi, A. T., & Suyono. (2022). Teori Penelitian Keuangan. (Andi, Ed.), Literasi Nusantara. Malang: CV. Literasi Nusantara Abadi.
Suyono, Suhardjo, Renaldo, N., Sudarno, & Sari, S. F. (2021). Faktor-faktor yang mempengaruhi Corporate Social Responsibility dan Nilai Perusahaan. Procuratio: Jurnal Ilmiah Manajemen, 9(1), 88–100.
Wening, Kartikawati. 2009. Pengaruh Kepemilikan Institusional Terhadap Kinerja Keuangan Perusahaan. Jakarta.
Yusrizal, Renaldo, N., & Hasri, M. O. (2021). Pengaruh Good Governance dan Whistleblowing System terhadap Kepatuhan Wajib Pajak Orang Pribadi dengan Risiko Sanksi Pajak sebagai Moderasi di KPP Pratama Pekanbaru Tampan. Bilancia: Jurnal Ilmiah Akuntansi, 5(2), 119–134.
Aguilera, R.V, Williams, dan Ganapathi. 2007. Putting the Sback in Corporate Social Responsibility: A Multilevel theory of Social change in Organization. Academy of Management Review, Vol. 3, No. 32, hal. 836-863.
Brammer, Stephen J dan Stephen Pavelin. 2006. Corporate Reputation and Social Performance: The Importance of Fit. Journal of Management Studies. Vol. 32, Issue 3, 435-455.
Bukhori, Mochamad Rizki Triansyah. 2017. “Pengaruh Pengungkapan Sustainability Report Terhadap Kinerja Keuanganâ€. Jurnal Penelitian, Volume 2, Nomor 1. Hlm. 35-48.
Chandra, T., Renaldo, N., & Putra, L. C. (2018). Stock Market Reaction towards SPECT Events using CAPM Adjusted Return. Opción, Año 34(Especial No.15), 338–374.
Deegan, C. 2004. Financial Accounting Theory. McGraw-Hill Book Company: Sydney.
Freeman, R.E. dan J. McVea. 2001. “A Stakeholder Approach to Strategic Managementâ€. Business; Corporate Law: Law & Finance eJournal.
Hendarti, Henny. 2006. Peranan Biaya Sosial dalam Meningkatkan Kinerja Sosial dan Keuangan Perusahaan High dan Low Profile. Journal The WINNERS, Vol. 7, No. 2, Hal. 128-143.
Liana, Lie. 2009. “Penggunaan MRA dengan Spss untuk Menguji Pengaruh Variabel Moderating terhadap Hubungan antara Variabel Independen dan Variabel Dependenâ€. Jurnal Teknologi Informasi DINAMIK Vol. 54, No. 2, Hal 90-97.
Machmud, Novita dan D. Djakman Chaerul. 2008. “Pengaruh Struktur Tahunan Perusahaanâ€. Simposium Nasional Akuntansi XI, Pontianak
Maqbool, S dan Zameer. 2018. Corporate Social Responsibility and Financial Performance: An Empirical analysis of Indian Banks. Future Business Journal, Vol. 4, No. 1, Hal. 84-93
Merawati, Luh Komang. 2015. Peran mekanisme Good Corporate Governance dalam Hubungan Kinerja Lingkungan dengan Kinerja Keuangan. Jurnal Manjemen & Akuntansi STIE Triatma Mulya, Vol. 21, No. 2, Hal. 157-168.
Natalia, Ria dan Josua Tarigan. 2014. “Pengaruh Sustainability Report Terhadap Kinerja Keuangan Perusahaan Publik dari Sisi Profitability Ratioâ€. Business Accounting Review, Volume 2, Nomor 1. Hlm. 111-120.
Neubaum, Donald O dan shaker A. Zahra. 2015. Institutional Ownership and Corporate Social performance: The Modertaing Effects of Investement Horizon, Activsm, and Coordination. Journal of Management, Vol. 32, No. 1, hal. 108-131.
Permatasari, F., & Widianingsih, L. P. 2019. Pengungkapan Corporate Social Responsibility terhadap Kinerja Keuangan dengan Good Corporate Governance sebagai Variabel Moderasi. Media Akuntansi dan Perpajakan Indonesia, Volume 1 Nomor 2.
Rahmawati, Mia Ika dan Anang Subardjo. 2017. “Pengaruh Pengungkapan Lingkungan dan Kinerja Lingkungan Terhadap Kinerja Ekonomi yang Dimoderasi Good Corporate Governanceâ€. Jurnal Buletin Studi Ekonomi, Volume 22, Nomor 2.
Raiyani, Jagdish R. 2019. Does Enviromental Performance Improve Financial Performance? An Empirical Study on Selected NSE Listed Companies. The Orissa Journal of Commerce, Vol. 4, No. 4, Hal. 42-51.
Renaldo, N., Sudarno, S., & Hutahuruk, M. B. (2020). Internal Control System Analysis on Accounts Receivable in SP Corporation. The Accounting Journal of Binaniaga, 5(2), 73. https://doi.org/10.33062/ajb.v5i2.382
Renaldo, N., Sudarno, & Hutahuruk, M. B. (2020). The Improvement of Generation Z Financial Well-being in Pekanbaru. Jurnal Manajemen Dan Kewirausahaan, 22(2), 142–151. https://doi.org/10.9744/jmk.22.2.142-151
Renaldo, N., Sudarno, S., Hutahuruk, M. B., Suyono, & Suhardjo. (2021). Internal Control System Analysis on Accounts Receivable in E-RN Trading Business. The Accounting Journal of Binaniaga, 6(2), 81–92. https://doi.org/10.33062/ajb.v5i2.382
Renaldo, N., & Augustine, Y. (2022). The Effect of Green Supply Chain Management, Green Intellectual Capital, and Green Information System on Environmental Performance and Financial Performance. Archives of Business Research, 10(10), 53–77. https://doi.org/10.14738/abr.1010.13254
Rosyid, Ahmad. 2015. “Pengaruh Kinerja Sosial dan Kinerja Lingkungan Terhadap Kinerja Keuanganâ€. Jurnal Penelitian Volume 12, Nomor 1, Mei 2015. Hlm. 72-85
Sari, Intan Ayu Permata. 2019. Pengaruh Pengungkapan Sustainability Reporting terhadap Keuangan Perusahaan di Indonesia. International Journal of Social Science and Business, Vol 3, No. 3, Hal. 206-214.
Setiawan, Doni Agus. (2020). “Bukan Manufaktur Lagi, Ternyata Sektor Ini yang Diminati Investorâ€. Tersedia pada https://news.ddtc.co.id/bukan-manufaktur-lagi-ternyata-sektor-ini-yang-diminati-investor-18648?page_y=700 (Diakses pada 23 Oktober 2022).
Shafariani, Dhesy Eka putri. 2013. Pengaruh tanggung Jawab Sosial Perusahaan terhadap Kinerja Keuangan dengan Tata Kelola Perusahaan sebagai Pemoderasi. Jurnal Reviu Akuntansi, Vol. 3, No. 2
Sudarno, Renaldo, N., Hutahuruk, M. B., Junaedi, A. T., & Suyono. (2022). Teori Penelitian Keuangan. (Andi, Ed.), Literasi Nusantara. Malang: CV. Literasi Nusantara Abadi.
Suyono, Suhardjo, Renaldo, N., Sudarno, & Sari, S. F. (2021). Faktor-faktor yang mempengaruhi Corporate Social Responsibility dan Nilai Perusahaan. Procuratio: Jurnal Ilmiah Manajemen, 9(1), 88–100.
Wening, Kartikawati. 2009. Pengaruh Kepemilikan Institusional Terhadap Kinerja Keuangan Perusahaan. Jakarta.
Yusrizal, Renaldo, N., & Hasri, M. O. (2021). Pengaruh Good Governance dan Whistleblowing System terhadap Kepatuhan Wajib Pajak Orang Pribadi dengan Risiko Sanksi Pajak sebagai Moderasi di KPP Pratama Pekanbaru Tampan. Bilancia: Jurnal Ilmiah Akuntansi, 5(2), 119–134.
Downloads
Published
2022-11-30
