PENGARUH SUSTAINABILITY REPORT DAN GOOD CORPORATE GOVERNANCE TERHADAP KINERJA KEUANGAN PADA PERUSAHAAN BUMN YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2019-2023
Abstract
This study aims to analyze the effect of Sustainability Report and Good Corporate Governance (GCG) disclosure on financial performance in State-Owned Enterprises (SOEs) listed on the Indonesia Stock Exchange (IDX) for the 2019–2023 period. Financial performance is proxied by Return on Assets (ROA), while Sustainability Report is measured based on the disclosure index and Good Corporate Governance is proxied through the audit committee. This study uses a quantitative method with secondary data in the form of financial reports and corporate sustainability reports. The sampling technique uses a purposive sampling method with a total sample of 17 SOEs over five years of observation, resulting in 85 observations. Data analysis was performed using multiple linear regression with the help of IBM SPSS 27 software. The results of the study indicate that partially Sustainability Report and Good Corporate Governance do not have a significant effect on financial performance. Simultaneously, the two independent variables also do not have a significant effect on the financial performance of SOEs. The coefficient of determination indicates that Sustainability Reports and Good Corporate Governance only explain 2.3% of financial performance, with the remainder influenced by variables outside the research model. This finding indicates that sustainability disclosure and corporate governance implementation have not been fully determinants in improving the financial performance of state-owned enterprises (SOEs) during the study period.
Keywords: Sustainability Report, Good Corporate Governance, Financial Performance, ROA, SOEs
References
Agoes, S. (2011). Auditing: Petunjuk Praktis Pemeriksaan Akuntan oleh Akuntan Publik. Jakarta: Salemba Empat.
Alfian, A. (2020). Pengaruh Good Corporate Governance terhadap kinerja keuangan perusahaan. Jurnal Akuntansi dan Keuangan, 8(2), 85–96.
https://doi.org/10.1234/jak.v8i2.2020
Bancin, J., & Harmain, H. (2022). Pengaruh Good Corporate Governance terhadap kinerja keuangan perusahaan. Jurnal Ilmiah Manajemen dan Bisnis, 23(1), 45–58.
https://doi.org/10.30596/jimb.v23i1.8694
Bukhori, I., & Sopian, D. (2017). Pengaruh sustainability report terhadap kinerja keuangan perusahaan. Jurnal Akuntansi dan Keuangan Islam, 5(1), 15–30.
https://doi.org/10.15408/akuis.v5i1.5046
Dewi, S. C., & Widagdo, B. (2013). Pengaruh Good Corporate Governance terhadap kinerja keuangan. Jurnal Akuntansi Multiparadigma, 4(3), 457–469.
https://doi.org/10.18202/jamal.2013.12.7206
Elkington, J. (1997). Cannibals with Forks: The Triple Bottom Line of 21st Century Business. Oxford: Capstone Publishing.
Faudah, A., Murniati, & Haryanto, S. (2018). Teori stakeholder dan legitimasi dalam pelaporan keberlanjutan. Jurnal Akuntansi dan Auditing Indonesia, 22(2), 123–135.
https://doi.org/10.20885/jaai.vol22.iss2.art4
Gujarati, D. N., & Porter, D. C. (2010). Basic Econometrics (5th ed.). New York: McGraw-Hill.
Ihyaul, U. (2017). Teori Akuntansi. Jakarta: RajaGrafindo Persada.
Jasmine, U. (2014). Pengaruh Good Corporate Governance terhadap kinerja keuangan perusahaan. Jurnal Akuntansi dan Keuangan, 6(1), 1–12.
Kurniadi, R., Prasetyo, A., & Nugroho, S. (2024). Pengaruh sustainability report terhadap kinerja keuangan perusahaan. Jurnal Riset Akuntansi Kontemporer, 16(1), 33–47.
https://doi.org/10.23969/jrak.v16i1.8732
Lestari, D., & Irma, R. (2021). Sustainability report dan kinerja keuangan perusahaan. Jurnal Akuntansi dan Keuangan, 9(2), 120–132.
https://doi.org/10.31289/jak.v9i2.4890
Mirnayanti, & Rahmawati. (2022). Peran komite audit dalam penerapan good corporate governance. Jurnal Akuntansi dan Bisnis, 22(1), 65–78.
https://doi.org/10.32477/jab.v22i1.412
Mulpiani, E. (2019). Pengaruh sustainability report terhadap nilai perusahaan. Jurnal Akuntansi dan Keuangan, 7(1), 54–67.
Octoviany, E. (2020). Stakeholder theory dalam pengungkapan sustainability report. Jurnal Ilmiah Akuntansi, 5(2), 101–113.
Prasetyowati, R., & Marsono. (2024). Sustainability report, legitimasi dan kinerja keuangan perusahaan. Diponegoro Journal of Accounting, 13(1), 1–14.
https://ejournal3.undip.ac.id/index.php/accounting
Pratiwi, D., Lestari, R., & Yuniarti, S. (2022). Sustainability report dan kinerja keuangan perusahaan. Jurnal Akuntansi Kontemporer, 14(2), 89–102.
https://doi.org/10.33508/jako.v14i2.4183
Puspitaningrum, D., & Indriani, R. (2021). Teori legitimasi dan pengungkapan keberlanjutan. Jurnal Akuntansi dan Auditing, 18(1), 45–58.
Putra, A. D., & Subroto, B. (2022). Kinerja keuangan dan praktik keberlanjutan perusahaan. Jurnal Akuntansi Multiparadigma, 13(1), 66–80.
https://doi.org/10.21776/ub.jamal.2022.13.1.05
Rahma, R. M., & Wijayanto, R. (2024). Pengaruh Good Corporate Governance terhadap kinerja keuangan. Jurnal Akuntansi dan Manajemen, 21(1), 14–26.
Sari, M. (2019). Analisis kinerja keuangan perusahaan. Jurnal Ekonomi dan Bisnis, 4(2), 77–88.
Sekaran, U., & Bougie, R. (2017). Research Methods for Business: A Skill-Building Approach. Chichester: John Wiley & Sons.
Sitanggang, A. (2021). Komite audit dan kualitas laporan keuangan. Jurnal Akuntansi dan Keuangan Indonesia, 18(1), 90–104.
Sitanggang, A., & Paramitadewi, R. (2023). Return on assets sebagai proksi kinerja keuangan. Jurnal Akuntansi dan Keuangan, 11(2), 134–148.
https://doi.org/10.31289/jak.v11i2.7123
Spiegel, M. R., Stephens, L. J., & Schiller, J. (2013). Schaum’s Outline of Statistics. New York: McGraw-Hill.
Suhadak, & Handayani, S. R. (2016). Pengaruh good corporate governance terhadap kinerja keuangan. Jurnal Administrasi Bisnis, 31(1), 1–10.
World Business Council for Sustainable Development (WBCSD). (2002). Sustainable Development Reporting. Geneva: WBCSD.
