Analysis of the Influence of Corporate Social Responsibility and Good Corporate Governance on Financial Performance in Food & Beverage Sub-Sector Companies Listed on the Indonesia Stock Exchange (IDX)
DOI:
https://doi.org/10.37676/jmea.v5i2.1601Keywords:
Corporate Social Responsibility, Board of Commissioners, Managerial OwnershipAbstract
This study aims to analyze the influence of Corporate Social Responsibility (CSR) and Good Corporate Governance (GCG) proxied through the Board of Commissioners, Managerial Ownership, Institutional Ownership, and Audit Committee on financial performance as measured using Return on Assets (ROA) in food and beverage sub-sector companies listed on the Indonesia Stock Exchange (IDX) for the 2020–2024 period. This study uses a causal associative quantitative approach with purposive sampling techniques, so that 14 companies were obtained as a sample with a total of 70 observations. The data analysis technique used was panel data regression with the help of EViews 12 software, where based on the Chow Test and Hausman Test, the best model selected was the Fixed Effect Model (FEM). The results of the study showed that simultaneously all independent variables had a significant effect on ROA. Partially, CSR, Board of Commissioners, and Institutional Ownership have a positive and significant effect on ROA, while Managerial Ownership and Audit Committee have no significant effect on ROA. The Adjusted R-squared value of 64.69% indicates that the model is able to adequately explain the variation in financial performance. The long-term success of a company is largely determined by its ability to manage relationships with all stakeholders in a balanced and sustainable manner.
Downloads
References
Ardian, Noni. (2020). Manajemen Keuangan, Mengelolah Keuangan dan Investasi Dalam Perusahaan. Deli Serdang: CV Rural Development Service.
2. Fiadicha, Fika, & Hanny, Rahmawati Y. (2016). Pengaruh Good Corporate Governance, Corporate Social Responsibility Dan Kinerja Keuangan Terhadap Nilai Perusahaan. Jurnal Akuntansi Manajerial, 1(1), 22–45.
3. Hermiyeti, Hermiyeti, & Katlanis, Erlinda. (2014). Analisis Pengaruh Kepemilikan Manajerial, Kepemilikan Institusional, Kepemilikan Asing, dan Komite Audit terhadap Kinerja Keuangan Perusahaan. Jurnal Ilmiah Universitas Bakrie, 4(2), 93–114.
4. Kasmir. (2018). Analisis Laporan Keuangan. Depok: PT Raja Grafindo Persada.
5. Kasmir. (2020). Analisa Laporan Keuangan (Revisi). Jakarta: PT Raja Grafindo Persada.
6. Muarifah, Alifatun, & Mujiyati, Mujiyati. (2023). The Influence of Good Corporate Governance (GCG), Corporate Social Responsibility (CSR) and Company Size on Financial Performance in Chemical and Basic Industry Companies Listed on the Indonesian Stock Exchange in 2019-2021. Management Studies and Entrepreneurship Journal, 4(4), 3539–3544.
7. Munandiroh, Luluk Hasanatul. (2025). Pengaruh Good Corporate Governance (GCG) Dan Corporate Social Responsibility (CSR) Terhadap Kinerja Keuangan Dengan Manajemen Laba Sebagai Variabel Intervening (Studi Pada Perusahaan Sektor Barang Konsumsi Yang Terdaftar Di ISSI Tahun 2020-2023). Universitas Islam Negeri Salatiga.
8. Puteri, Salma Andhika, Wiyono, Gendro, & Rinofah, Risal. (2023). Pengaruh Good Corporate Governance dan Corporate Social Responbility terhadap Kinerja Keuangan pada Perbankan Yang Terdaftar di BEI Periode 2017-2020. Ekonomis: Journal of Economics and Business, 7(1), 343–353.
9. Putri, Russelia. (2024). Pengaruh Good Corporate Governance dan Corporate Social Responsibility Terhadap Kinerja Keuangan (Studi Pada Perusahaan Sub Sektor Makanan dan Minuman yang Terdaftar di BEI Tahun 2020- 2022). Universitas Medan Area.
10. Rahayu, Gheni Putri. (2020). Analisis Pengaruh Corporate Social Responsibility dan Good Corporate Governance Terhadap Kinerja Keuangan. Universitas Andalas.
11. Rizky, Sekar Erfidita, & Iswara, Ulfah Setia. (2023). Pengaruh Corporate Social Responsibility Dan Good Corporate Governance Terhadap Kinerja Keuangan. Jurnal Ilmu Dan Riset Akuntansi, 12(5).
12. Sholihah, Ummi. (2021). Analisis Pengaruh Good Corporate Governance Dan Corporate Social Responsibilityterhadap Kinerja Keuangan. Jurnal Ilmu Dan Riset Akuntansi, 10(5), 1–16.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2026 Ari Saputra Surbakti, Noni Ardian, Pipit Buana Sari
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
