Kepemilikan Publik, Ukuran Perusahaan, Pengungkapan CSR: Peran Moderasi Political Connection
Keywords:
Public Ownership, Company Size, CSR Disclosure, Political Connection
Abstract
This research aims to examine the influence of public ownership and company size on Corporate Social Responsibility (CSR) disclosure, as well as the role of political connections as a moderating variable in mining sector companies listed on the Indonesia Stock Exchange for the 2021–2023 period. Using quantitative methods, this research collected data from annual reports and sustainability reports published by 10 selected companies for three years. The analysis was carried out using multiple regression to assess the direct influence of independent variables on CSR disclosure, as well as Moderated Regression Analysis (MRA) to test the moderating effect of political connections. The research results show that public ownership has a positive influence on CSR disclosure, while company size does not show a significant influence. Political connections strengthen the effect of public ownership on CSR disclosure, but this moderating effect is weaker on the relationship between company size and CSR disclosure. These findings indicate that political connections can help companies to be more proactive in CSR disclosure, especially for companies that have high public ownership. This research suggests the importance of considering the role of political connections in increasing transparency and corporate social responsibility
References
Arantes, V., Dicko, S., & Soares, R. (2023). Firms’ political connections and performance in Brazil and Canada: an analysis of the effect of country institutional factors. Journal of Management and Governance, 28, 1–50. https://doi.org/10.1007/s10997-022-09666-1
Aruan, D. A., Veronica, V., Liandy, C., Christina, D., & Fanny, F. (2021). Pengaruh Kepemilikan Publik, NPM, Pertumbuhan Perusahaan, dan Solvabilitas terhadap Pengungkapan CSR pada Perusahaan Infrastruktur. Owner, 5(2). https://doi.org/10.33395/owner.v5i2.455
Aviyanti, R. D., Devi, H. P., Amah, N., Andriani, D. N., & Widiastuti, P. W. (2022). Pengaruh Tata Kelola, Koneksi Politik, dan Kompensasi Dewan Direksi Terhadap Pengungkapan Tanggung Jawab Sosial. INVENTORY: JURNAL AKUNTANSI, 6(2). https://doi.org/10.25273/inventory.v6i2.14244
Bencheikh, F., & Boulila Taktak, N. (2017). The Effect of Political Connections on the Firm Performance in a Newly Democratised Country. Mediterranean Journal of Social Sciences, Vol 8, 40–46. https://doi.org/10.1515/mjss-2017-0004
Carboni, M. (2017). The Financial Impact of Political Connections. In The Financial Impact of Political Connections. https://doi.org/10.1007/978-3-319-52776-5
Dowling, J., & Pfeffer, J. (1975). Organizational Legitimacy: Social Values and Organizational Behavior. Pacific Sociological Review, 18(1), 122–136. https://doi.org/10.2307/1388226
Dyduch, J., & Krasodomska, J. (2017). Determinants of corporate social responsibility disclosure: An empirical study of Polish listed companies. Sustainability (Switzerland), 9(11). https://doi.org/10.3390/su9111934
Erviana, A. E., & Junaidi. (2017). Analisis Pengaruh Leverage, Profitabilitas, Ukuran Perusahaan Dan Kepemilikan Saham Publik Terhadap Kebijakan Pengungkapan Tanggungjawab Sosial Dan Lingkungan Pada Perusahaan Manufaktur Di Bursa Efek Indonesia Tahun 2013-2016. Jurnal Ekonomi Universitas Islam Malang, 147(3).
Hamdani, S. P., Yuliandari, W. S., & Budiono, E. (2017). Kepemilikan Saham Publik Dan Return On Assets Terhadap Pengungkapan Corporate Social Responsibility. https://api.semanticscholar.org/CorpusID:169022341
Handoyo, S. (2020). The Determinants of Corporate Social Responsibility Disclosure: Empirical Evidence from Indonesia Listed Firms. Journal of Accounting Auditing and Business, 3(1). https://doi.org/10.24198/jaab.v3i1.26228
Indraswari, I. G. A. L., & Mimba, N. P. S. H. (2017). Pengaruh Profitabilitas, Pertumbuhan Perusahaan, Kapitalisasi Pasar dan Kepemilikan Saham Publik Pada Tingkat Pengungkapan CSR. Jurnal Akuntansi, 20(2).
Iswari, A., & Nurcahyo, B. (2020). Analisis rasio keuangan untuk memprediksi financial distress pada perusahaan pertambangan di Indonesia. JURNAL NUSANTARA APLIKASI MANAJEMEN BISNIS, 5(1). https://doi.org/10.29407/nusamba.v5i1.13526
Jurnali, T., & Manurung, N. S. (2023). Ukuran Dewan, Keberagaman Dewan Dan Pengungkapan Tanggung Jawab Sosial Perusahaan: Peran Koneksi Politik. Jurnal Bisnis Dan Akuntansi, 25(1), 45–64. https://doi.org/10.34208/jba.v25i1.1722
Kamaliah. (2020). Disclosure of corporate social responsibility (CSR) and its implications on company value as a result of the impact of corporate governance and profitability. International Journal of Law and Management, 62(4). https://doi.org/10.1108/IJLMA-08-2017-0197
Khairin, M. Y., & Firmansyah, A. (2024). Political Connection, Public Ownership, Pengungkapan CSR: Peran Moderasi Ukuran Perusahaan. Owner : Riset Dan Jurnal Akuntansi, 8(4), 4174–4185. https://doi.org/10.33395/owner.v8i4.2300
Koeshardjono, R. H., Priantono, S., & Amani, T. (2019). Pengaruh Corporate Social Responsibility, Ukuran Perusahaan, Leverage Dan Profitabilitas Terhadap Nilai Perusahaan Dengan Kepemilikan Manajerial Dan Komisaris Independen Sebagai Variabel Moderating. JIAI (Jurnal Ilmiah Akuntansi Indonesia). https://api.semanticscholar.org/CorpusID:213054968
Lai, F. Y., Tang, H. C., Lu, S. C., Lee, Y. C., & Lin, C. C. (2020). Transformational Leadership and Job Performance: The Mediating Role of Work Engagement. SAGE Open, 10(1). https://doi.org/10.1177/2158244019899085
Latifah, F. N., & Widiatmoko, J. (2022). Pengaruh Struktur Kepemilikan Terhadap Corporate Social Responsibility Dan Dampaknya Pada Nilai Perusahaan. JIMAT (Jurnal Ilmiah Mahasiswa Akuntansi) Undiksha, 13(03), 921–937. https://doi.org/https://doi.org/10.23887/jimat.v13i03.44363
Limbong, C. H. (2019). Analisis Faktor-Faktor Yang Mempengaruhi Pengungkapan Corporate Social Responsibility Pada Perusahaan Pertambangan Yang Terdaftar Di Bei. ECOBISMA (JURNAL EKONOMI, BISNIS DAN MANAJEMEN), 6(2). https://doi.org/10.36987/ecobi.v6i2.11
Mey Intakhiya, D., Santoso, U. P., & Mutiarin, D. (2021). Strategi Dalam Penanganan Kasus Lumpur Lapindo Pada Masyarakat Terdampak Lumpur Lapindo Porong-Sidoarjo Jawa Timur. Jurnal MODERAT, 7(3).
Mukhtar, B., Shad, M. K., Woon, L. F., Haider, M., & Waqas, A. (2024). Integrating ESG disclosure into the relationship between CSR and green organizational culture toward green Innovation. Social Responsibility Journal, 20(2), 288–304. https://doi.org/10.1108/SRJ-03-2023-0125
Muttakin, M. B., Mihret, D. G., & Khan, A. (2018). Corporate political connection and corporate social responsibility disclosures: A neo-pluralist hypothesis and empirical evidence. Accounting, Auditing and Accountability Journal, 31(2). https://doi.org/10.1108/AAAJ-06-2015-2078
Najaf, R. (2020). How does political connection impact the firm performance? Austin Journal of Business Administration and Management, 4(1).
Nanda, U. L., & Rismayani, G. (2019). Pengaruh Gender Diversity, Profitabilitas, Ukuran Perusahaan, Ukuran Kap Terhadap Pengungkapan Tanggung Jawab Sosial Perusahaan. Jurnal Riset Keuangan Dan Akuntansi, 5(1). https://doi.org/10.25134/jrka.v5i1.1882
Ningsih, W. F., & Rachmawati, R. (2017). Implementasi Green Accounting dalam Meningkatkan Kinerja Perusahaan. JABE (Journal of Applied Business and Economic), 4(2). https://doi.org/10.30998/jabe.v4i2.2142
Pratiwi, N. (2023). Profitabilitas, Leverage, Kepemilikan Publik, dan Pengungkapan Corporate Social Responsibility. E-Jurnal Akuntansi, 33. https://doi.org/10.24843/EJA.2023.v33.i07.p17
R. Aprilyani Dewi, P. P., Sudana, I. P., Badera, I. D. N., & Rasmini, I. K. (2021). The Effect of CSR Disclosure on Firm Value with Profitability and Leverage as Moderators. Indonesian Journal of Sustainability Accounting and Management, 5(1 SE-Articles), 113–122. https://doi.org/10.28992/ijsam.v5i1.325
Ramadhan, Guruh Hari; Ermaya, H. N. L. (2023). Faktor-Faktor Yang Mempengaruhi Pengungkapan Corporate Social Responsibility Pada Perusahaan Di Indonesia. Accounting Student Research Journal, 2(2), 123–142. https://doi.org/10.62108/asrj.v2i2.6660
Rauf, F., Voinea, C. L., Bin Azam Hashmi, H., & Fratostiteanu, C. (2020). Moderating Effect of Political Embeddedness on the Relationship between Resources Base and Quality of CSR Disclosure in China. Sustainability,12(8).https://doi.org/10.3390/su12083323
Sampong, F., Song, N., Boahene, K. O., & Wadie, K. A. (2018). Disclosure of CSR performance and firm value: New evidence from South Africa on the basis of the GRI guidelines for sustainability disclosure. Sustainability (Switzerland), 10(12). https://doi.org/10.3390/su10124518
Santo, G. I., & Rahayuningsih, D. A. (2022). Karakteristik Perusahaan yang mempengaruhi Pengungkapan Corporate Social Responsibility. Jurnal Bisnis Dan Akuntansi, 24(1 SE-), 171–184. https://doi.org/10.34208/jba.v24i1.1166
Sirait, W. P. B. . G. T. S. . & S. L. (2023). Pengaruh Kepemilikan Saham Publik, Leverage, Profitabilitas, Dan Ukuran Perusahaan Terhadap Pengungkapan Tanggung Jawab Sosial Pada Perusahaan Pertambangan Yang Terdaftar Di Bursa Efek Indonesia Tahun 2019-2021. METHOSIKA: Jurnal Akuntansi Dan Keuangan Methodist, 7(1), 57–64. https://doi.org/doi.org/10.46880/jsika.Vol7No1.pp57-64
Ulfa, T., Sari, D., & Syam Bz, F. (2022). Determinants of corporate social responsibility disclosure: Case of mining companies in Indonesia. International Journal of Research in Business and Social Science (2147- 4478), 11, 324–334. https://doi.org/10.20525/ijrbs.v11i5.1831
Wimelson, S., & Widianingsih, L. (2024). Berpengaruhkah Boc Eks Politik Terhadap Pengungkapan Csr Perusahaan Sektor Energi Dan Basic Materials? Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA), 8(3). https://doi.org/10.31955/mea.v8i3.4503
Wu, H., Li, S., Ying, S., & Chen, X. (2018). Politically connected CEOs, firm performance, and CEO pay. Journal of Business Research, 91, 169–180. https://doi.org/10.1016/j.jbusres.2018.06.003
Xu, B., & Zeng, T. (2016). Profitability, state ownership, tax reporting and corporate social responsibility: evidence from Chinese listed firms. Social Responsibility Journal, 12(1), 23–31. https://doi.org/10.1108/SRJ-06-2014-0076
Aruan, D. A., Veronica, V., Liandy, C., Christina, D., & Fanny, F. (2021). Pengaruh Kepemilikan Publik, NPM, Pertumbuhan Perusahaan, dan Solvabilitas terhadap Pengungkapan CSR pada Perusahaan Infrastruktur. Owner, 5(2). https://doi.org/10.33395/owner.v5i2.455
Aviyanti, R. D., Devi, H. P., Amah, N., Andriani, D. N., & Widiastuti, P. W. (2022). Pengaruh Tata Kelola, Koneksi Politik, dan Kompensasi Dewan Direksi Terhadap Pengungkapan Tanggung Jawab Sosial. INVENTORY: JURNAL AKUNTANSI, 6(2). https://doi.org/10.25273/inventory.v6i2.14244
Bencheikh, F., & Boulila Taktak, N. (2017). The Effect of Political Connections on the Firm Performance in a Newly Democratised Country. Mediterranean Journal of Social Sciences, Vol 8, 40–46. https://doi.org/10.1515/mjss-2017-0004
Carboni, M. (2017). The Financial Impact of Political Connections. In The Financial Impact of Political Connections. https://doi.org/10.1007/978-3-319-52776-5
Dowling, J., & Pfeffer, J. (1975). Organizational Legitimacy: Social Values and Organizational Behavior. Pacific Sociological Review, 18(1), 122–136. https://doi.org/10.2307/1388226
Dyduch, J., & Krasodomska, J. (2017). Determinants of corporate social responsibility disclosure: An empirical study of Polish listed companies. Sustainability (Switzerland), 9(11). https://doi.org/10.3390/su9111934
Erviana, A. E., & Junaidi. (2017). Analisis Pengaruh Leverage, Profitabilitas, Ukuran Perusahaan Dan Kepemilikan Saham Publik Terhadap Kebijakan Pengungkapan Tanggungjawab Sosial Dan Lingkungan Pada Perusahaan Manufaktur Di Bursa Efek Indonesia Tahun 2013-2016. Jurnal Ekonomi Universitas Islam Malang, 147(3).
Hamdani, S. P., Yuliandari, W. S., & Budiono, E. (2017). Kepemilikan Saham Publik Dan Return On Assets Terhadap Pengungkapan Corporate Social Responsibility. https://api.semanticscholar.org/CorpusID:169022341
Handoyo, S. (2020). The Determinants of Corporate Social Responsibility Disclosure: Empirical Evidence from Indonesia Listed Firms. Journal of Accounting Auditing and Business, 3(1). https://doi.org/10.24198/jaab.v3i1.26228
Indraswari, I. G. A. L., & Mimba, N. P. S. H. (2017). Pengaruh Profitabilitas, Pertumbuhan Perusahaan, Kapitalisasi Pasar dan Kepemilikan Saham Publik Pada Tingkat Pengungkapan CSR. Jurnal Akuntansi, 20(2).
Iswari, A., & Nurcahyo, B. (2020). Analisis rasio keuangan untuk memprediksi financial distress pada perusahaan pertambangan di Indonesia. JURNAL NUSANTARA APLIKASI MANAJEMEN BISNIS, 5(1). https://doi.org/10.29407/nusamba.v5i1.13526
Jurnali, T., & Manurung, N. S. (2023). Ukuran Dewan, Keberagaman Dewan Dan Pengungkapan Tanggung Jawab Sosial Perusahaan: Peran Koneksi Politik. Jurnal Bisnis Dan Akuntansi, 25(1), 45–64. https://doi.org/10.34208/jba.v25i1.1722
Kamaliah. (2020). Disclosure of corporate social responsibility (CSR) and its implications on company value as a result of the impact of corporate governance and profitability. International Journal of Law and Management, 62(4). https://doi.org/10.1108/IJLMA-08-2017-0197
Khairin, M. Y., & Firmansyah, A. (2024). Political Connection, Public Ownership, Pengungkapan CSR: Peran Moderasi Ukuran Perusahaan. Owner : Riset Dan Jurnal Akuntansi, 8(4), 4174–4185. https://doi.org/10.33395/owner.v8i4.2300
Koeshardjono, R. H., Priantono, S., & Amani, T. (2019). Pengaruh Corporate Social Responsibility, Ukuran Perusahaan, Leverage Dan Profitabilitas Terhadap Nilai Perusahaan Dengan Kepemilikan Manajerial Dan Komisaris Independen Sebagai Variabel Moderating. JIAI (Jurnal Ilmiah Akuntansi Indonesia). https://api.semanticscholar.org/CorpusID:213054968
Lai, F. Y., Tang, H. C., Lu, S. C., Lee, Y. C., & Lin, C. C. (2020). Transformational Leadership and Job Performance: The Mediating Role of Work Engagement. SAGE Open, 10(1). https://doi.org/10.1177/2158244019899085
Latifah, F. N., & Widiatmoko, J. (2022). Pengaruh Struktur Kepemilikan Terhadap Corporate Social Responsibility Dan Dampaknya Pada Nilai Perusahaan. JIMAT (Jurnal Ilmiah Mahasiswa Akuntansi) Undiksha, 13(03), 921–937. https://doi.org/https://doi.org/10.23887/jimat.v13i03.44363
Limbong, C. H. (2019). Analisis Faktor-Faktor Yang Mempengaruhi Pengungkapan Corporate Social Responsibility Pada Perusahaan Pertambangan Yang Terdaftar Di Bei. ECOBISMA (JURNAL EKONOMI, BISNIS DAN MANAJEMEN), 6(2). https://doi.org/10.36987/ecobi.v6i2.11
Mey Intakhiya, D., Santoso, U. P., & Mutiarin, D. (2021). Strategi Dalam Penanganan Kasus Lumpur Lapindo Pada Masyarakat Terdampak Lumpur Lapindo Porong-Sidoarjo Jawa Timur. Jurnal MODERAT, 7(3).
Mukhtar, B., Shad, M. K., Woon, L. F., Haider, M., & Waqas, A. (2024). Integrating ESG disclosure into the relationship between CSR and green organizational culture toward green Innovation. Social Responsibility Journal, 20(2), 288–304. https://doi.org/10.1108/SRJ-03-2023-0125
Muttakin, M. B., Mihret, D. G., & Khan, A. (2018). Corporate political connection and corporate social responsibility disclosures: A neo-pluralist hypothesis and empirical evidence. Accounting, Auditing and Accountability Journal, 31(2). https://doi.org/10.1108/AAAJ-06-2015-2078
Najaf, R. (2020). How does political connection impact the firm performance? Austin Journal of Business Administration and Management, 4(1).
Nanda, U. L., & Rismayani, G. (2019). Pengaruh Gender Diversity, Profitabilitas, Ukuran Perusahaan, Ukuran Kap Terhadap Pengungkapan Tanggung Jawab Sosial Perusahaan. Jurnal Riset Keuangan Dan Akuntansi, 5(1). https://doi.org/10.25134/jrka.v5i1.1882
Ningsih, W. F., & Rachmawati, R. (2017). Implementasi Green Accounting dalam Meningkatkan Kinerja Perusahaan. JABE (Journal of Applied Business and Economic), 4(2). https://doi.org/10.30998/jabe.v4i2.2142
Pratiwi, N. (2023). Profitabilitas, Leverage, Kepemilikan Publik, dan Pengungkapan Corporate Social Responsibility. E-Jurnal Akuntansi, 33. https://doi.org/10.24843/EJA.2023.v33.i07.p17
R. Aprilyani Dewi, P. P., Sudana, I. P., Badera, I. D. N., & Rasmini, I. K. (2021). The Effect of CSR Disclosure on Firm Value with Profitability and Leverage as Moderators. Indonesian Journal of Sustainability Accounting and Management, 5(1 SE-Articles), 113–122. https://doi.org/10.28992/ijsam.v5i1.325
Ramadhan, Guruh Hari; Ermaya, H. N. L. (2023). Faktor-Faktor Yang Mempengaruhi Pengungkapan Corporate Social Responsibility Pada Perusahaan Di Indonesia. Accounting Student Research Journal, 2(2), 123–142. https://doi.org/10.62108/asrj.v2i2.6660
Rauf, F., Voinea, C. L., Bin Azam Hashmi, H., & Fratostiteanu, C. (2020). Moderating Effect of Political Embeddedness on the Relationship between Resources Base and Quality of CSR Disclosure in China. Sustainability,12(8).https://doi.org/10.3390/su12083323
Sampong, F., Song, N., Boahene, K. O., & Wadie, K. A. (2018). Disclosure of CSR performance and firm value: New evidence from South Africa on the basis of the GRI guidelines for sustainability disclosure. Sustainability (Switzerland), 10(12). https://doi.org/10.3390/su10124518
Santo, G. I., & Rahayuningsih, D. A. (2022). Karakteristik Perusahaan yang mempengaruhi Pengungkapan Corporate Social Responsibility. Jurnal Bisnis Dan Akuntansi, 24(1 SE-), 171–184. https://doi.org/10.34208/jba.v24i1.1166
Sirait, W. P. B. . G. T. S. . & S. L. (2023). Pengaruh Kepemilikan Saham Publik, Leverage, Profitabilitas, Dan Ukuran Perusahaan Terhadap Pengungkapan Tanggung Jawab Sosial Pada Perusahaan Pertambangan Yang Terdaftar Di Bursa Efek Indonesia Tahun 2019-2021. METHOSIKA: Jurnal Akuntansi Dan Keuangan Methodist, 7(1), 57–64. https://doi.org/doi.org/10.46880/jsika.Vol7No1.pp57-64
Ulfa, T., Sari, D., & Syam Bz, F. (2022). Determinants of corporate social responsibility disclosure: Case of mining companies in Indonesia. International Journal of Research in Business and Social Science (2147- 4478), 11, 324–334. https://doi.org/10.20525/ijrbs.v11i5.1831
Wimelson, S., & Widianingsih, L. (2024). Berpengaruhkah Boc Eks Politik Terhadap Pengungkapan Csr Perusahaan Sektor Energi Dan Basic Materials? Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA), 8(3). https://doi.org/10.31955/mea.v8i3.4503
Wu, H., Li, S., Ying, S., & Chen, X. (2018). Politically connected CEOs, firm performance, and CEO pay. Journal of Business Research, 91, 169–180. https://doi.org/10.1016/j.jbusres.2018.06.003
Xu, B., & Zeng, T. (2016). Profitability, state ownership, tax reporting and corporate social responsibility: evidence from Chinese listed firms. Social Responsibility Journal, 12(1), 23–31. https://doi.org/10.1108/SRJ-06-2014-0076
Published
2024-11-23
How to Cite
Siregar, F. (2024). Kepemilikan Publik, Ukuran Perusahaan, Pengungkapan CSR: Peran Moderasi Political Connection. VALUE, 5(2), 100-116. https://doi.org/10.36490/value.v5i2.1420
Section
Articles
