Analisis Pengaruh Environmental, Social, Governance (ESG) Disclosure dan Research & Development Intensity Terhadap Financial Performance Pada Perusahaan Manufaktur yang Terdaftar di BEI
DOI:
https://doi.org/10.37385/msej.v5i2.5878Keywords:
ESG Disclosure, Financial Performance, Research and Development IntensityAbstract
Sustainability and innovation are investment activities as part of a business strategy that needs to be implemented to strengthen the company's position and maximize company performance. The manufacturing sector is a vital sector for the country, but in its operations, much attention is still needed to its impact on the environment and society. This study aims to examine the influence of ESG disclosure and R&D intensity on the financial performance of manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the period 2020-2023. This research is a quantitative descriptive study using secondary data in the form of annual reports and sustainability reports obtained from the official websites of the sample companies and the official website of the Indonesia Stock Exchange. The sample in this study was selected using purposive sampling, resulting in 14 sample companies with a total of 42 observations. This study uses stakeholder theory, legitimacy theory, and signaling theory. Based on the research results, it was found that ESG disclosure and R&D intensity simultaneously affect the company's financial performance, proxied by the return on assets (ROA) ratio. Furthermore, environmental disclosure, social disclosure, and governance disclosure do not affect the company's financial performance, and R&D intensity has a positive effect on the company's financial performance.
References
Adella, A., & Dillak, V. J. (2023). Kinerja Keuangan: Strategi Diversifikasi, Penelitian dan Intensitas Pembangunan Dan Kepemilikan Studi Empiris. JASa (Jurnal Akuntansi, Audit dan Sistem Informasi Akuntansi), 229-238.
Agoes, S., & Ardana, I. C. (2013). Etika Bisnis dan Profesi. Jakarta: Salemba Empat.
Agustia, D., Permatasari, Y., Fauzi, H., & Sari, M. N. (2020). Research and Development Intensity, Firm Performance, And Green Product Innovation. Journal Of Security and Sustainability Issues, 1039-1049.
Aydo-gmu?, M., Gülay, G., & Ergun, K. (2022). Impact of ESG performance on firm value and profitability. Borsa Istanbul Review, 119-127.
B. Carroll, J. Brown, & A. K. Buchholtz (2018), Business & Society: Ethics, Sustainability & Stakeholder Management. Boston: Cengage Learning.
Chen, T.-c., Guo, D.-Q., Chen, H.-M., & Wei, T.-t. (2019). Effects of R&D intensity on firm performance in Taiwan’s semiconductor industry. Economic Research-Ekonomska Istrazivanja, 2377-2392.
Delvina, E. M., & Hidayah, R. (2023). The Effect of ESG (Enviromental, Social, and Governance) Performance on Company Value and Company Peformance. Management Studies & Entrepreneurship Journal, 5436-5444.
Durlista, M. A., & Wahyudi, I. (2023). Pengaruh Pengungkapan Enviromental, Social dan Governance (ESG) terhadap Kinerja Perusahaan pada Perusahaan Sub Sektor Pertambangan Batu Bara Periode 2017-2022. Jurnal Ilmiah MEA (Manajemen, Ekonomi, dan Akuntansi), 211-232.
Eliwa, Y., Aboud, A., & Saleh , A. (2021). ESG practices and the cost of debt: Evidence from EU countries. Critical Perspectives on Accounting.
Erdogan, M., & Yamaltdinova, A. (2019). A Panel Study of the Impact of R&D on Financial Performance: Evidence from an Emerging Market. Procedia Computer Science, 541-545.
Fahmi, I. (2013). Analisis Laporan Keuangan. Alfabeta.
Fahmi, I. (2013). Analisis Laporan Keuangan. In J. C. Horne, & J. M. Wachowicz. Alfabet.
Ghozali, I., & Chariri, A. (2007). Teori Akuntansi. Semarang: Badan Penerbit Universitas Diponegoro.
Hörisch, J., Schaltegger, S., & Freeman, R. E. (2020). Integrating stakeholder theory and sustainability accounting: A conceptual synthesis. Journal of Cleaner Production, 1-12.
Inawati, W. A., & Rahmawati. (2023). Dampak Environmental, Social, dan Governance (ESG) Terhadap Kinerja. Jurnal Akademi Akuntansi, 225-241.
Khairunnisa, D. P., & Widiastuty, E. (2023). Pengaruh Kinerja ESG Terhadap Kinerja Keuangan Perusahaan. Jurnal Riset Akuntansi Aksioma, 142-153.
Kieso, D. E., Weygandt, J. J., & Warfi, T. D. (2010). ACCOUNTING INTERMEDIATE. Erlangga.
Kusmawati. (2020). PENGARUH BIAYA R&D BIAYA IKLAN TERHADAP KINERJA LABA. Jurnal Keuangan dan Bisnis, 179-190.
Maidar, & H. R. (2022). Analisis Efektivitas Dan Efisiensi Anggaran Belanja Pada Dinas. Kominukasi, Informatika dan Persandian Kabupaten Simeulue Tahun 2018 - 2020, 10(6), 588-594.
Meyer, M., Buber, R., & Aghamanoukjan, A. (2013). In Search of Legitimacy : Managerialismand Legitimation in Civil Society Organizations. International Society for Third-Sector Research, 167–193.
Narver, J. C., & Slater, S. F. (1990). The Effect of a Market Orientation on Business Profitability. Journal of Marketing, 20-35.
Ningtyas, P. A., & Kartika, T. P. (2022). Pengaruh Intellectual Capital, Intensitas Research And Development Terhadap Nilai Perusahaan dengan Kinerja Keuangan sebagai Variabel Intervening. AKUNESA: Jurnal Akuntansi Unesa, 115-124.
Nisa, A. Z., Titisari, K. H., & Masitoh, E. (2023). Pengaruh Pengungkapan Environmental, Social, dan Governance (ESG) terhadap Kinerja Perusahaan. Al-Kharaj : Jurnal Ekonomi, Keuangan, & Bisnis Syariah, 2400-2411.
Nugroho, N. A., & Hersugondo. (2022). Analisis Pengaruh Environmental, Social, Governance (ESG) Disclosure terhadap Kinerja Keuangan Perusahaan . Jurnal Ilmiah Ekonomi dan Bisnis, 233-243 .
Özkan, N. (2022). R&D SPENDING AND FINANCIAL PERFORMANCE : AN INVESTIGATION IN AN EMERGING MARKET. International Journal of Management Economics and Business (Uluslararas? Yönetim ?ktisat ve ??letme Dergisi), 38-58.
Pertiwi , L. R., & Hersugondo. (2023). Pengaruh Kinerja Environmental, Social, Governance (ESG) terhadap Kinerja Perusahaan dengan Kendala Keuangan sebagai Variabel Moderasi (Studi pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia tahun 2016-2020). DIPONEGORO JOURNAL OF MANAGEMENT, 1-11.
Putri, D. C., Widiyanti, M., & Thamrin, K. M. (2022). Pengaruh Intensitas Penelitian dan Pengembangan Dan Aset Tidak Berwujud Terhadap Nilai Perusahaan Dengan Kinerja Keuangan Sebagai Variabel Intervening . URNAL ILMIAH MANAJEMEN BISNIS DAN INOVASI UNIVERSITAS SAM RATULANGI (JMBI UNSRAT) , 1-15.
Sari, P. S., & Widiatmoko, J. (2023). Pengaruh Environmental, Social, and Governance (ESG) Disclosure terhadap Kinerja Keuangan dengan Gender Diversity sebagai Variabel Moderasi. Fair Value : Jurnal Ilmiah Akuntansi dan Keuangan, 3634-3642.
Setiani, E. P. (2023). The Impact of ESG Scores on Corporate Financial Performance:Moderating Role of Gender Diversity. NOMINAL: BAROMETER RISET AKUNTANSI DAN MANAJEMEN, 128-139.
Sugiyono. (2013). Metode Penelitian Kuantitatif, Kualitatif, dan R&D. Bandung: Alfabeta.
Sulistyo. (2010). 6 Hari Jago SPSS. Yogyakarta : Cakrawala.
Syamsuddin, A., Ehambaranathan, E. C., & Ali, I. M. (2021). The Effect of R&D Intensity towards the Financial Performance among Malaysian Public Listed Companies. Global Business and Management Research: An International Journal, 850-860.
Vlaviorine , E., & Widianingsih , L. P. (2023). Penggunaan Energi Terbarukan, Skor ESG, Biaya Modal dan Biaya Operasional Pada Kinerja Keuangan. JURNAL AKUNTANSI KONTEMPORER (JAKO), 97-112
Template
