Dampak Pengungkapan Sustainability Report terhadap Kinerja: Komparasi Kinerja Pasar dan Kinerja Akuntansi

https://doi.org/10.35912/jakman.v5i1.2469
Published: Dec 5, 2023

Abstract:

Purpose: This study aims to analyze the effect of Sustainability Report (SR) disclosure on company performance.

Research Methodology: This study uses data from 170 manufacturing companies listed on the Indonesia Stock Exchange for the 2018-2022 period. A total of 832 book years were analyzed using the panel data regression method. Performance is measured using earnings per share (EPS), which reflects market performance, and Return on Equity (ROE) and Return on Assets (ROA), which reflect accounting performance.

Results: The findings show that SR disclosure positively affects EPS performance. SR disclosure has a marginal influence on ROE performance with an alpha test level of 10%. However, SR disclosure does not have a significant effect on ROA performance. Although internal SR disclosure does not affect performance, it has been proven to elicit a response from the market.

Limitations: Sustainability Disclosure in this study was measured using a dummy variable. Consequently, it is less comprehensive to assess the quality of sustainability practices.

Contribution: The findings strengthen the literature on the influence of sustainability disclosures on market performance. The challenge is to empirically prove that market performance should have an impact on accounting performance in the long term.

Keywords:
1. Sustainability Report Disclosure
2. Accounting Performance
3. Market Performance
Authors:
1 . Amanda Dwi Kartikasari
2 . Sugiyarti Fatma Laela
https://orcid.org/0000-0002-6637-0317
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How to Cite
Kartikasari, A. D. ., & Laela, S. F. . (2023). Dampak Pengungkapan Sustainability Report terhadap Kinerja: Komparasi Kinerja Pasar dan Kinerja Akuntansi . Jurnal Akuntansi, Keuangan, Dan Manajemen, 5(1), 15–26. https://doi.org/10.35912/jakman.v5i1.2469
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Issue & Section
Vol. 5 No. 1 (2023): Desember
Articles
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    Delvina, E. M., & Hidayah, R. (2023). The Effect Of ESG (Environmental, Social And Governance) Performance On Company Value And Company Performance. Management Studies and Entrepreneurship Journal (MSEJ), 4(5), 5436–5444. https://doi.org/10.37385/msej.v4i5.2903

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  1. Aggarwal, P. (2018). Impact of sustainability performance of company on its financial performance: A study of listed Indian companies. Global Journal of Management and Business Research Finance, 13(11), 61–70.
  2. Anabella, & Siregar, A. (2022). Pengaruh pengungkapan sustainability report, leverage dan activity terhadap kinerja perusahaan. BALANCE: Jurnal Akuntansi, Auditing Dan Keuangan, 19(1), 65–98. https://doi.org/10.25170/balance.v19i1.3327
  3. Arjuni, Andi K; A Syamsuddin; R A Damayanti. (2022). Systematic Review: The Effectivity of Sustainability Reporting on Firm Value. International Economics and Business Conference (IECON). Vol. 1 No. 1, 49-55.
  4. Chandra, D.N dan Delvianti. (2020). Pengaruh Pengungkapan Laporan Keberlanjutan terhadap Kinerja Keuangan Perusahaan Tembakau. Parso Jurnal: Jurnal Pengembangan Ilmu Akuntansi dan Keuangan. Vol 2 (3)
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  6. Chariri, A. (2008). Kritik sosial atas pemakaian teori dalam penelitan pengungkapan sosial dan lingkungan. Jurnal Maksi, 8(2), 151–169.
  7. Delvina, E. M., & Hidayah, R. (2023). The Effect Of ESG (Environmental, Social And Governance) Performance On Company Value And Company Performance. Management Studies and Entrepreneurship Journal (MSEJ), 4(5), 5436–5444. https://doi.org/10.37385/msej.v4i5.2903
  8. Elkington, J. (2013). Enter the triple bottom line. In The Triple Bottom Line (pp. 1–16). Routledge.
  9. Fatoni, R., Andini, K., & Rahardjo. (2016). Pengaruh kepemilikan publik, return on equity, current ratio, umur perusahaan Dan company size terhadap pengungkapan corporate social responbility pada perusahaan real estate and property yang Terdaftar di Bursa Efek Indonesia periode 2011–2014. Journal Of Accounting, 2(2), 1–15.
  10. Fauziah, G., Irwanto, A. K., & Syamsun, M. (2016). Influence of corporate social resposibility disclosure toward corporate value of LQ45 stock index. Manajemen IKM, 11(1), 52–60. http://journal.ipb.ac.id/index.php/jurnalmpi/
  11. Fidhayatin, S. K., & Dewi, N. H. U. (2012). Analisis nilai perusahaan, kinerja perusahaan dan kesempatan bertumbuh perusahaan terhadap return saham pada perusahaan manufaktur yang listing di BEI. The Indonesian Accounting Review, 2(2), 203–214. https://doi.org/10.14414/tiar.v2i02.96
  12. Fordian, D. (2017). Pengaruh CAR, LDR, dan EPS terhadap harga saham (Studi pada Bank BUMN yang listing di Bei periode 2012-2016). Jurnal Bisnis Darmajaya, 3(1), 27–38.
  13. Hanum, Z. (2015). Pengaruh return on asset (ROA), return on equity (ROE), dan earning per share (EPS) terhadap harga saham pada perusahaan otomotif yang terdaftar di bursa efek Indonesia periode 2008-2011. Kumpulan Jurnal Dosen Universitas Muhammadiyah Sumatera Utara, 8(2), 1–9. https://doi.org/10.26623/slsi.v20i3.5809
  14. Hasti, W. W., Maryani, M., & Makshun, A. (2022). Pengaruh Leverage, Struktur Modal, dan Ukuran Perusahaan terhadap Kinerja Keuangan pada Perusahaan Sektor Pertambangan . Reviu Akuntansi, Manajemen, Dan Bisnis, 2(2), 139–150. https://doi.org/10.35912/rambis.v2i2.1544
  15. Haq, F. A. (2020). Pengaruh pengungkapan sustainability reports terhadap kinerja keuangan. JABE (Jurnal Akuntansi, Bisnis Dan Ekonomi), 7(1), 21–33.
  16. Hörisch, Jacob; Stefan Schaltegger; R. Edward Freeman. (2020). Integrating stakeholder theory and sustainability Accounting: A conceptual synthesis. Journal of Cleaner Production. Volume 275. Vol 275 (1). https://doi.org/10.1016/j.jclepro.2020.124097.
  17. Jones, T. M., & Wicks, N. C. (2018). Convergent stakeholder theory. In Business Ethics and Strategy, Volumes I and II (pp. 361–376). Routledge.
  18. Lating, A. I. S. (2018). Pengaruh kinerja keuangan terhadap nilai perusahaan dengan sustainability report sebagai variabel moderating. Jurnal Ilmu Dan Riset Akuntansi (JIRA), 7(8), 1–25.
  19. Lourenço, I. C., Callen, J. L., Branco, M. C., & Curto, J. D. (2014). The value relevance of reputation for sustainability leadership. Journal of Business Ethics, 119(1), 17–28. https://doi.org/10.1007/s10551-012-1617-7
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  34. Sari, A. N., & Hermuningsih, S. (2020). Pengaruh earning per share (EPS), return on equity (ROE) dan debt to equity ratio (DER) terhadap return saham dengan kebijakan dividen sebagai variabel intervening pada perusahaan industri barang konsumsi yang terdaftar di BEI periode 2014-2018. DERIVATIF: Jurnal Manajemen, 14(1), 29–37. https://doi.org/10.24127/jm.v14i1.437
  35. Sari, I. A. P., & Andreas, H. H. (2019). Pengaruh pengungkapan sustainability reporting terhadap keuangan perusahaan di Indonesia. International Journal of Social Science and Business, 3(3), 206–214.
  36. Savage, G. T., Dunkin, J. W., & Ford, D. M. (2004). Responding to a crisis: A stakeholder analysis of community health organizations. Journal of Health and Human Services Administration, 26(4), 383–414.
  37. Setiawan, E. ., Yuliansyah, Y., & Gamayuni, R. R. . (2022). Pengaruh Profitabilitas dan Likuiditas terhadap Pengungkapan Sustainability Report di Perusahaan yang Terdaftar pada Jakarta Islamic Index (JII) . Studi Akuntansi, Keuangan, Dan Manajemen, 1(2), 97–111. https://doi.org/10.35912/sakman.v1i2.1163
  38. Sejati, B. P., & Prastiwi, A. (2015). Pengaruh pengungkapan sustainability report terhadap kinerja dan nilai perusahaan. Diponegoro Journal of Accounting, 4(1), 1–12.
  39. Sholikhah, A. (2016). Statistik deskriptif dalam penelitian kualitatif. KOMUNIKA: Jurnal Dakwah Dan Komunikasi, 10(2), 342–362. https://doi.org/10.24090/komunika.v10i2.953
  40. Siew, R. Y. J. (2015). A review of corporate sustainability reporting tools (SRTs). Journal of Environmental Management, 164, 180–195. https://doi.org/10.1016/j.jenvman.2015.09.010
  41. Siregar, S. (2020). Metode penelitian kuantitatif dilengkapi dengan perbandingan perhitungan manual & SPSS. Prenadamedia Group.
  42. Suaidah, Y. M. (2020). Pengungkapan sustainability report dan pengaruhnya terhadap kinerja perusahaan. Management and Business Review, 4(1), 39–51. https://doi.org/10.21067/mbr.v4i1.4619
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