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Abstract
The Ministry of Environment determines the company's environmental management performance evaluation plan or PROPER in controlling environmental effects to improve the company's role in environmental protection plans. However, many companies still get a red or black PROPER rating. Therefore, this study aimed to test the effect of environmental performance and corporate social responsibility disclosure on the company's financial performance. The sample used in the mining sector companies listed on the Indonesia Stock Exchange for the 2015-2019 period, amounting to 49 companies. The sampling technique in this study used a purposive sampling technique. The purposive sampling technique is a sample selection technique using criteria. According to the sample's criteria, this research selected 55 financial statements from 11 companies. The data in this study were analyzed using multiple linear regression. The results of this study indicate that environmental performance and CSR disclosure have a positive effect on the company's financial performance. Then, financial performance and Corporate Social Responsibility Disclosure have a simultaneous and positive impact on the company's financial performance. Research can be considered for mining companies to always pay attention to environmental performance due to company activities. In addition, companies must consistently implement Corporate Social Responsibility in carrying out their business activities. The implementation of sound environmental performance must also be accompanied by the implementation of good corporate social responsibility. The company's financial performance is getting better because these two things can synergistically affect the company's economic performance.
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Copyright (c) 2022 Ningrum Pramudiati, Rahandhika Ivan Adyaksana, Afrinia Susilowati
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References
- Angelia, D., & Suryaningsih, R. (2015). The Effect of Environmental Performance And Corporate Social Responsibility Disclosure Towards Financial Performance (Case Study to Manufacture, Infrastructure, And Service Companies That Listed At Indonesia Stock Exchange). 211(September), 348–355. https://doi.org/10.1016/j.sbspro.2015.11.045
- Bahri, S., & Cahyani, F. A. (2016). Pengaruh Kinerja Lingkungan Terhadap Corporate Financial Perfomance Dengan Corporate Social Responsibility Disclosure Sebagai Variabel Intervening. Jurnal Ekonomi Universitas Kadiri, 1, 117–142.
- Christine, D., Yadiati, W., Afiah, N. N., & Fitrijanti, T. (2019). The relationship of environmental management accounting, environmental strategy and managerial commitment with environmental performance and economic performance. International Journal of Energy Economics and Policy, 9(5), 458–464. https://doi.org/10.32479/ijeep.8284
- Djuitaningsih, T., & Ristiawati, E. E. (2011). Pengaruh Kinerja Lingkungan Dan Kepemilikan Asing Terhadap Kinerja Finansial Perusahaan. 31–54.
- Fajarini, I., Wahyuningrum, S., Budihardjo, M. A., & Muhammad, F. I. (2020). http://jssidoi.org/esc/home. 8(2), 1047–1061.
- Hadi, N. (2011). Corporate Social Responsibility. Graha Ilmu.
- Huynh, Q. L. (2020). Impacts of environmental responsibility and performance on organizational performance: Importance of environmental performance. International Journal of Energy Economics and Policy, 10(6), 100–108. https://doi.org/10.32479/ijeep.9955
- Kamatra, N., & Kartikaningdyah, E. (2015). Effect corporate social responsibility on financial performance. International Journal of Economics and Financial Issues, 5(2013), 157–164.
- Lestari, D. (2016). Pengaruh Corporate Social Responsibility Terhadap Return On Equity (Studi Kasus Pada Bank Negara Indonesia , Tbk dan Bank Rakyat Indonesia , Tbk Tahun 2010-2014). 1–19.
- Lin, C. S., Chang, R. Y., & Dang, V. T. (2015). An integrated model to explain how corporate social responsibility affects corporate financial performance. Sustainability (Switzerland), 7(7), 8292–8311. https://doi.org/10.3390/su7078292
- Lin, W. L., Ho, J. A., & Sambasivan, M. (2018). Impact of corporate political activity on the relationship between corporate social responsibility and financial performance: A dynamic panel data approach. Sustainability (Switzerland), 11(1), 1–23. https://doi.org/10.3390/su11010060
- Mahmood, Z., Ahmad, Z., Ali, W., & Ejaz, A. (2017). Does environmental disclosure relate to environmental performance? Reconciling legitimacy theory and voluntary disclosure theory. Pakistan Journal of Commerce and Social Sciences (PJCSS), 11(3), 1134–1152.
- Manrique, S., & Martí-Ballester, C. P. (2017). Analyzing the effect of corporate environmental performance on corporate financial performance in developed and developing countries. Sustainability (Switzerland), 9(11). https://doi.org/10.3390/su9111957
- Murhadi, W. (2013). Analisis Laporan Keuangan, Proyeksi dan Valuasi Saham. Salemba Empat.
- Nor, N., Aishah, N., Bahari, S., Adnan, N. A., Qamarul, M., Sheh, A., &
- Mohd, I. (2016). The Effects of Environmental Disclosure on Financial Performance in Malaysia. Procedia Economics and Finance, 35(October 2015), 117–126. https://doi.org/10.1016/S2212-5671(16)00016-2
- Ong, T. S., Lee, A. S., Teh, B. H., & Magsi, H. B. (2019).
- Environmental innovation, environmental performance and financial performance: Evidence from Malaysian environmental proactive firms. Sustainability (Switzerland), 11(12), 1–19. https://doi.org/10.3390/su10023494
- Pranoto, A. R., & Yusuf, D. (2014). Program CSR Berbasis Pemberdayaan Masyarakat Menuju Kemandirian Ekonomi Pasca Tambang di Desa Sar?aya. 18, 39–50.
- Putra, Y. P. (2017). Pengaruh Kinerja Lingkungan Terhadap Kinerja Keuangan Dengan Pengungkapan Corporate Social Responsibility (CSR) Sebagai Variabel Intervening.
- Rakhiemah, A. N., & Agustia, D. (2013). Pengaruh Kinerja Lingkungan terhadap Corporate Social Responsibility (CSR) Disclosure dan Kinerja Finansial Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia. Jurnal Akuntansi, 1–31.
- Rinsman, T. C. S., & Prasetyo, A. B. (2020). The Effects of Financial and Environmental Performances on Firm Value with Environmental Disclosure as an Intervening Variable. Jurnal Dinamika Akuntansi, 12(2), 90–99. https://doi.org/10.15294/jda.v12i2.24003
- Setyaningsih, R. D., & Asyik, N. F. (2016). Pengaruh Kinerja Lingkungan terhadap Kinerja Keuangan dengan CSR sebagai Pemoderasi. Jurnal Ilmu Dan Riset Akuntansi, 5, Nomor 4.
- Springer, C. H., Evans, S., & Teng, F. (2021). An empirical analysis of the environmental performance of China's overseas coal plants. Environmental Research Letters, 16(5), 054062. https://doi.org/10.1088/1748-9326/abf287
- Sucipto. (2003). Penilaian Kinerja keuangan. Universitas Sumatera Utara.
- Yanti. (2015). Pengaruh Corporate Social Responsibility Dan Environmental Perfomance Terhadap Kinerja Keuangan BUMN Dan NON BUMN Yang Terdaftar Di Bursa Efek Indonesia 2009-2012. XIX(02), 242–259.
References
Angelia, D., & Suryaningsih, R. (2015). The Effect of Environmental Performance And Corporate Social Responsibility Disclosure Towards Financial Performance (Case Study to Manufacture, Infrastructure, And Service Companies That Listed At Indonesia Stock Exchange). 211(September), 348–355. https://doi.org/10.1016/j.sbspro.2015.11.045
Bahri, S., & Cahyani, F. A. (2016). Pengaruh Kinerja Lingkungan Terhadap Corporate Financial Perfomance Dengan Corporate Social Responsibility Disclosure Sebagai Variabel Intervening. Jurnal Ekonomi Universitas Kadiri, 1, 117–142.
Christine, D., Yadiati, W., Afiah, N. N., & Fitrijanti, T. (2019). The relationship of environmental management accounting, environmental strategy and managerial commitment with environmental performance and economic performance. International Journal of Energy Economics and Policy, 9(5), 458–464. https://doi.org/10.32479/ijeep.8284
Djuitaningsih, T., & Ristiawati, E. E. (2011). Pengaruh Kinerja Lingkungan Dan Kepemilikan Asing Terhadap Kinerja Finansial Perusahaan. 31–54.
Fajarini, I., Wahyuningrum, S., Budihardjo, M. A., & Muhammad, F. I. (2020). http://jssidoi.org/esc/home. 8(2), 1047–1061.
Hadi, N. (2011). Corporate Social Responsibility. Graha Ilmu.
Huynh, Q. L. (2020). Impacts of environmental responsibility and performance on organizational performance: Importance of environmental performance. International Journal of Energy Economics and Policy, 10(6), 100–108. https://doi.org/10.32479/ijeep.9955
Kamatra, N., & Kartikaningdyah, E. (2015). Effect corporate social responsibility on financial performance. International Journal of Economics and Financial Issues, 5(2013), 157–164.
Lestari, D. (2016). Pengaruh Corporate Social Responsibility Terhadap Return On Equity (Studi Kasus Pada Bank Negara Indonesia , Tbk dan Bank Rakyat Indonesia , Tbk Tahun 2010-2014). 1–19.
Lin, C. S., Chang, R. Y., & Dang, V. T. (2015). An integrated model to explain how corporate social responsibility affects corporate financial performance. Sustainability (Switzerland), 7(7), 8292–8311. https://doi.org/10.3390/su7078292
Lin, W. L., Ho, J. A., & Sambasivan, M. (2018). Impact of corporate political activity on the relationship between corporate social responsibility and financial performance: A dynamic panel data approach. Sustainability (Switzerland), 11(1), 1–23. https://doi.org/10.3390/su11010060
Mahmood, Z., Ahmad, Z., Ali, W., & Ejaz, A. (2017). Does environmental disclosure relate to environmental performance? Reconciling legitimacy theory and voluntary disclosure theory. Pakistan Journal of Commerce and Social Sciences (PJCSS), 11(3), 1134–1152.
Manrique, S., & Martí-Ballester, C. P. (2017). Analyzing the effect of corporate environmental performance on corporate financial performance in developed and developing countries. Sustainability (Switzerland), 9(11). https://doi.org/10.3390/su9111957
Murhadi, W. (2013). Analisis Laporan Keuangan, Proyeksi dan Valuasi Saham. Salemba Empat.
Nor, N., Aishah, N., Bahari, S., Adnan, N. A., Qamarul, M., Sheh, A., &
Mohd, I. (2016). The Effects of Environmental Disclosure on Financial Performance in Malaysia. Procedia Economics and Finance, 35(October 2015), 117–126. https://doi.org/10.1016/S2212-5671(16)00016-2
Ong, T. S., Lee, A. S., Teh, B. H., & Magsi, H. B. (2019).
Environmental innovation, environmental performance and financial performance: Evidence from Malaysian environmental proactive firms. Sustainability (Switzerland), 11(12), 1–19. https://doi.org/10.3390/su10023494
Pranoto, A. R., & Yusuf, D. (2014). Program CSR Berbasis Pemberdayaan Masyarakat Menuju Kemandirian Ekonomi Pasca Tambang di Desa Sar?aya. 18, 39–50.
Putra, Y. P. (2017). Pengaruh Kinerja Lingkungan Terhadap Kinerja Keuangan Dengan Pengungkapan Corporate Social Responsibility (CSR) Sebagai Variabel Intervening.
Rakhiemah, A. N., & Agustia, D. (2013). Pengaruh Kinerja Lingkungan terhadap Corporate Social Responsibility (CSR) Disclosure dan Kinerja Finansial Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia. Jurnal Akuntansi, 1–31.
Rinsman, T. C. S., & Prasetyo, A. B. (2020). The Effects of Financial and Environmental Performances on Firm Value with Environmental Disclosure as an Intervening Variable. Jurnal Dinamika Akuntansi, 12(2), 90–99. https://doi.org/10.15294/jda.v12i2.24003
Setyaningsih, R. D., & Asyik, N. F. (2016). Pengaruh Kinerja Lingkungan terhadap Kinerja Keuangan dengan CSR sebagai Pemoderasi. Jurnal Ilmu Dan Riset Akuntansi, 5, Nomor 4.
Springer, C. H., Evans, S., & Teng, F. (2021). An empirical analysis of the environmental performance of China's overseas coal plants. Environmental Research Letters, 16(5), 054062. https://doi.org/10.1088/1748-9326/abf287
Sucipto. (2003). Penilaian Kinerja keuangan. Universitas Sumatera Utara.
Yanti. (2015). Pengaruh Corporate Social Responsibility Dan Environmental Perfomance Terhadap Kinerja Keuangan BUMN Dan NON BUMN Yang Terdaftar Di Bursa Efek Indonesia 2009-2012. XIX(02), 242–259.