PENGARUH CORPORATE SOCIAL RESPONSIBILITY TERHADAP FIRM PERFORMANCE DENGAN DIMODERASI OLEH OWNERSHIP CONCENTRATION
Main Article Content
Abstract
This research aims to determine the effect of corporate social responsibility on firm
performance with ownership concentration as a moderating variable. Firm performance is
proxied by return on asset (ROA). Sample is derived by purposive sampling method from
non-financial firms listed in SRI KEHATI index from 2017-2019 period. Method used to
regress the panel data is General Least Square (GLS) through Eviews 12. This research
finds that first, CSR positively and significantly affects firm performance. Second,
ownership concentration fails to moderate the effect of CSR towards firm performance.
Ownership concentration acts as homologiser moderator, a variable initially known to be
able to moderate the relationship between CSR and firm performance, but after being
regressed, fails to do so.
Article Details
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
This work is licensed under a Jurnal Komunikasi Creative Commons Attribution-ShareAlike 4.0 International License.
References
Abbas, D. S., Basuki., Hidayat, I., & Alpiani, R. (2020). Financial factors and mandatory
disclosure. International Journal of Multi Science, 1(6), 20-30.
Ali, S., Zhang, J., Naseem, M. A., & Ahmad, F. (2019). Moderating role of ownership in
relationship between CSRD and firm performance. The Journal of Developing Areas,
(3).
Anita., & Amalia, D. P. (2021). Pengaruh tanggung jawab sosial terhadap kinerja
keuangan: Struktur kepemilikan sebagai variabel moderasi. Jurnal Ekonomi
Modernisasi, 17(1), 54-68.
Cho, S. J., Chung, C. Y., & Young, J. (2019). Study on the Relationship between CSR and
Financial Performance. Sustainability, 11(2), 343.
Eisenhardt, K. M. (1989). Agency theory: An assessment and review. Academy of
Management Review, 14(1), 57-74.
Erik., & Tjakrawala, F. X. K. (2020). Pengaruh corporate social responsibility, leverage
terhadap financial performance dengan pemoderasi ownership concentration. Jurnal
Paradigma Akuntansi, 2(3), 1240-1247.
Feng, Y., Chen, H., & Tang, J. (2018). The impacts of social responsibility and ownership
structure on sustainable financial development of China’s energy industry.
Sustainability, 10(2), 301.
Freeman, R. E. (1984). Strategic Management: A Stakeholder Approach. Boston: Pitman.
Freeman, R. E., Harrison, J., Wicks, A. C., Parmar, B., & Colle, S. D. (2010). Stakeholder
Theory: The State of The Art. New York: Cambridge University Press.
Hadi, N. (2018). Corporate social responsibility Edisi 2. Yogyakarta: Graha Ilmu.
Javeed, S. A., & Lefen, L. (2019). An analysis of corporate social responsibility and firm
performance with moderating effects of CEO power and ownership structure: A case
study of the manufacturing sector of Pakistan. Sustainability, 11(1), 248.
Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency
costs and ownership structure. Journal of Financial Economics, 3, 305–360.
Kim, M., Yin, X., & Lee, G. (2020). The effect of CSR on corporate image, customer
citizenship behaviors, and customers’ long-term relationship orientation.
International Journal of Hospitality Management, 88, 102520.
Kundal. (2019). Corporate social responsibility. India: Wolters Kluwer India Pvt Ltd.
Nguyen, V. C. (2019). Nexus between CSR and firm performance: Moderating effect of
ownership concentration. Arthatama Journal of Business Management and
Accounting, 3(1), 27-46.
Noviaristanti, S. (2020). Contemporary Research on Business and Management:
Proceedings of the International Seminar of Contemporary Research on Business and
Management (ISCRBM 2019), 27-29 November, 2019, Jakarta, Indonesia.
Netherlands: CRC Press
Resmi, S. I., Begum, N. N., & Hassan, M. M. (2018). Impact of CSR on firm’s financial
performance: A study on some selected agribusiness industries of Bangladesh.
American Journal of Economics, Finance and Management, 4(3), 74-85.
Rezaee, Z., Tsui, J., & Zhou, G. (2019). Business Sustainability in Asia: Compliance,
Performance, and Integrated Reporting and Assurance. United States: Wiley
Selcuk, E. A. (2019). Corporate social responsibility and financial performance: The
moderating role of ownership concentration in Turkey. Sustainability, 11(13), 3643.
Septiana, A. (2019). Analisis Laporan Keuangan: Konsep Dasar dan Deskripsi Laporan
Keuangan. Jakarta: Duta Media Publishing
Setiadarma, A. (2021). Etika dalam melakukan kegiatan corporate social responsibility
(CSR). IKON Jurnal Ilmu Komunikasi 2021, XXVI (1), 1-9.
Sial, M. S., Chunmei, Z., Khan, T., & Nguyen, V. K. (2018). Corporate social
responsibility, firm performance and the moderating effect of earnings management in
Chinese firms. Asia-Pacific Journal of Business Administration, 10, 184-199.