The Effect of Good Corporate Governance, Corporate Social Responsibility, and Environmental Performance on Financial Performance in State-Owned Enterprises Listed on the Indonesia Stock Exchange in the 2019-2022 Period

I Kadek Doni Wira  Prasetya; Komang Adi Kurniawan Saputra; Ida Ayu  Surasmi

Authors

I Kadek Doni Wira Prasetya
Komang Adi Kurniawan Saputra Universitas Warmadewa
Ida Ayu Surasmi

Keywords:

Good Corporate Governance, Corporate Social Responsibility, Environmental Performance, Financial Performance

Abstract

Study This aiming For analyze Influence Good Corporate Governance, Corporate Social Responsibility, and Environmental Performance On Financial Performance of State-Owned Enterprises Listed on the Indonesia Stock Exchange for the 2019-2022 Period . Research This due to fluctuations performance state-owned enterprise finances and difference results study previously related connection third factor the to performance finance . Research This use method quantitative with approach analysis panel data regression . Population in study This consists of of the 34 state-owned companies which then selected with technique purposive sampling , obtained 18 companies that met the requirements criteria research . The data used originate from report annual and reports sustainability company during period 2019-2022. The main theory used in study This is Institutional Theory. The results of the study show that Good Corporate Governance influential positive to performance finance . Corporate Social Responsibility influential positive to performance finance . While that , Environmental Performance influential negative to performance finance .

References

Adyaksana, RI, and Pronosokodewo, BG (2020). Do Environmental Performance and Environmental Costs Affect Environmental Information Disclosure? Infestation , 16 (2), 157–165. https://doi.org/https://doi.org/10.21107/infestation.v16i2.8544

Alfianah, W., and Rizkianto, RK (2023). The Influence of Environmental Performance and Corporate Social Responsibility Disclosure on Financial Performance in Cosmetic Companies on the IDX. Owner: Research & Accounting Journal , 7 (4), 2854–2865. https://doi.org/https://doi.org/10.33395/owner.v7i4.1756

Ardy, Yanti, LD, and Oktari, Y. (2022). The Relationship between Good Corporate Governance and Corporate Social Responsibility to Company Financial Performance. eCo-Buss Volume , 4 (3), 582–593.

Aulia, R., and Hadinata, S. (2019). The Influence of Environmental Performance, Environmental Disclosure, and ISO 14001 on Financial Performance. Journal of Accounting, Economics and Business Management , 7 (2), 136–147.

Budhijana, RB (2022). The Influence of Good Corporate Governance, Corporate Social Responsibility, and Company Size on the Financial Performance of Several BUMNs Before Covid 19. 7 ( 9), 14301–14317.

Cahyani, RSA, and Mayangsari, S. (2022). The Influence of Environmental Performance, Corporate Governance, and Corporate Social Responsibility on Financial Performance. Trisakti Journal of Economics , 2 (2), 475–486. https://doi.org/http://dx.doi.org/10.25105/jet.v2i2.14321

Damayanti, PMD, and Septiyani, R. (2022). The Influence of Corporate Social Responsibility (CSR), Good Corporate Governance (GCG), and Company Size on Financial Performance in Manufacturing Companies Listed on the IDX. E-journal Field of Economics, Business, and Entrepreneurship (EFEBE) , 1 (2), 71–83. https://doi.org/https://doi.org/10.23960/efebe.v1i1.19

Dimaggio, P. J., and Powell, W. W. (1983). The Iron Cage Revisited: Institutional Isomorphism and Collective Rationality in Organizational Fields. American Sociological Association , 48 (2), 147–160.

Handika, RF (2020). Strategic Alliances and Firm Performance: An Institutional Theory Perspective. Journal of Strategic Management and Business Simulation (JMASSBI) , 1 (2), 83–90.

Cadbury Committee Report. (1992). “The Financial Aspects of Corporate Governance.”

Napitupulu, R.B., Simanjuntak, T.P., Hutabarat, L., Damanik, H., Harianja, H., Sirait, R.T.M., and Ria, C.E. (2021). Business Research: Techniques and Data Analysis with SPSS - STATA - EVIEWS (1st Edition). Madenareta.

Sari, EL, Widyastuti, T., Maidani, and Sari, PN (2024). The Effect of Environmental Performance and Corporate Social Responsibility on Financial Performance in Energy Companies Listed on the Indonesia Stock Exchange. SENTRI: Scientific Research Journal , 3 (2), 1041–1053.

Suaidah, YM, and Putri, CAK (2020). The Influence of Environmental Performance and Corporate Social Responsibility on Company Financial Performance. JAD: Dewantara Accounting and Financial Research Journal , 3 (2), 101–109.

Sugianto, and Soediantono, D. (2022). Literature Review of ISO 26000 Corporate Social Responsibility (CSR) and Implementation Recommendations to the Defense Industries. Journal of Industrial Engineering & Management Research , 3 (2), 73–87.