Corporate Social Responsibility And Company Performance
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Dec 1, 2019
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Abstract
The purpose of this research is to analyze the influence of corporate social responsibility and capital structure on financial performance of high-profile company. Population in this study is all high-profile companies listed in Indonesia Stock Exchange (IDX) in the period of 2010-2015. The sample was selected by purposive sampling, hence 225 samples were obtained. This research uses secondary data from Indonesian Capital Market Directory (ICMD) and IDX companies. Structural equation modeling (SEM) is used as statistical tool. The hypothesis measurement model showed better fit as indicated by the goodness of fit indices, and also could fullfill convergent validity which reflected by the significant factor loadings. The structural model of financial perfromance also could reach better fit and it found that corporate social responsibility has a positive and significant effect on financial performance; and the capital structure has a negative and significant influnce on financial performance in high-profile companies listed on the IDX.
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References
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Wardi, Y., Abror, A., & Trinanda, O. T. (2017). Peningkatan Pemahaman Dan Pengimplementasian Wisata Islami Bagi Pelaku Wisata Di Kota Padang. International Journal of Community Service Learning, 1(3), 144-147.
Agustin Ekadjaja dan Edward Bunadi. 2012. “Pengaruh Corporate Social Responsibility Terhadap Kinerja Perusahaan.” Jurnal Akuntansi. Vol. 12No. 2 November 2012 : 655-674.
Admassu, Niway Ayalew. 2016. “The Impact of Capital Structure Choice on Firms Financial Performance: Evidence from Manufacturing Plcs in Tigrai Region, Ethiopia”. Journal of Poverty, Investment and Development.Vol.27.
Andreas Lako. 2011. Dekontruksi CSR dan Reformasi Paradigma Bisnis dan Akuntansi.Jakarta: Erlangga.
Anderson, J. C., & Gerbing, D. W. (1982). Some method for respecifying measurement models to obtain unidimensional construct measurement. Journal of Marketing Research, 19(4), 453-460.
Bagozzi, R. P., & Yi, Y. (1988). On the use of structural equation models in experimentals designs. Journal of Marketing Research, 26(August), 271-284.
Barbara Gunawan dan Suharti Sri Utami.(2008). “Peranan Corporate Social Responsibility Dalam Nilai Perusahaan.”Jurnal Akuntasi dan Keuangan Vol. 7 No. 2 September 2008.
Barnett, M.L. and Salomon, R.M. (2011) Does it pay to be really good? Addressing the shape of the relationship between social and financial performance, Strategic Management Journal,. Available at SSRN: http://ssrn.com/abstract=1860985
Bidhari, S.C., Salim, U., and Aisjah S., (2013) Effect of corporate social responsibility information disclosure on financial performance and firm value in banking industry listed at Indonesia stock exchange, European Journal of Business and Management, 5(18), 39-46.
Brealey, Myers dan Marcus. 2007. Dasar-Dasar Manajemen Keuangan Perusahaan Jilid 2. Jakarta: Erlangga.
Brigham, Eugene F. Dan Joel F. Houston. 2011. Dasar-dasar Manajemen Keuangan. Jakarta: Salemba Empat.
Brigham, Eugene F dan Joel F. Houston. 2001. Dasar-Dasar Manajemen Keuangan Jilid 2. Jakarta: Salemba Empat.
Chen, S. S., & Ho, K. W. (2000). Corporate diversification, ownership structure, and firm value: The Singapore evidence. International Review of Financial Analysis, 9, 315-326.
Ferdinand, A. 2006. Structural Equation Model dalam Penelitian Manajemen. Semarang: Undip Publisher.
Freeman, R.E. (2001), Stakeholder theory of the modern corporation, Business Ethics, Vol.3, 38-48.
Ghelli, C., (2013), Corporate social responsibility and financila performance: an empirical evidence, master thesis, Copenhagen Business School, Frederiksberg, Denmark, 2013
Gujarati, D. N. (1995). Basic econonometrics. Newyork: McGraw-hill.
Harmono. 2011. Manajemen Keuangan. Jakarta: Bumi Aksara.
Kumar, J. (2005). Agency theory and firm value in India. Indira Gandhi institute of development research.
Irham Fahmi. 2012. Analisis Kinerja Keuangan. Bandung: Alfabeta.
Kasmir. 2010. Pengantar Manajemen Keuangan. Jakarta: Kencana.
Kiran, Samra et al. 2015. “Corporate Social Responsibility and Firm Profitability: A Case Of Oil and Gas Sector of Pakistan.” City University ResearchJournal Vol 5 No 1 Januari 2015 hal 110-119.
Masdupi, E., & Yulius, A. (2017), Influence of Corporate Social Responsibility, Business Diversification, and Company Size upon Company Value, Advances in Economics, Business and Management Research, volume 36, 11th International Conference on Business and Management Research (ICBMR 2017), Published by Atlantis Press.
Masdupi, E., and Sari, D.I., (2016), The Influence of Debt Policy, Company Size and Agency Cost on Performance of Listed Manufacturing Company in Indonesian Stock Exchange (IDX), 9th International Conference on Management, Finance and Entrepreneurship
Mustafa, et al. 2012. “Corporate Social Responsibility and Company Peformance in The Malaysian Context. Social and Behavioral Sciences 65, 897-905.
Sembiring, E.R. 2005. “Karakteristik Perusahaan dan Pengungkapan Tanggung Jawab Sosial: Studi Empiris pada Perusahaan yang Tercatat di Bursa Efek Jakarta”. Simposium Nasional Akuntansi VIII.
Tabachnic, B. G., and Fidell, L. S. 2007. Using Multivariate Statistic (5 rd ed.). New York : Harpour Collings Collers Publishers.
Tifow dan Sayilir. 2015. “Capital Structure And Firm Performance: An Analysis Of Manufacturing Firms In Turkey”. Eurasian journal of business and management 3(4), hal 13-22.
Tilakasiri, K.K. (2012), Corporate social responsibility and company performance: evidence from Sri Lanka, doctoral thesis, Victoria University, Melbourne..
Trinanda, O., & Sari, A. Y. (2019, May). # MeTourism: How selfies affect re-visit intention in narcissistic age. In 1st International Conference on Economics, Business, Entrepreneurship, and Finance (ICEBEF 2018). Atlantis Press.
Trinanda, O. (2016). THE INFLUENCE OF MARKETING MIX TOWARDS ART SHOP’S SALES IN PASAR ATAS BUKITTINGGI. Jurnal Praktik Bisnis, 5(1), 1-14.
Vijfvinkel, S., Bouman, N.and Hessels, J. (2011), Environmental sustainability and financial performance of SMEs, EIM Research Reports..
Wardi, Y., Abror, A., & Trinanda, O. T. (2017). Peningkatan Pemahaman Dan Pengimplementasian Wisata Islami Bagi Pelaku Wisata Di Kota Padang. International Journal of Community Service Learning, 1(3), 144-147.