DETERMINASI KINERJA BERKELANJUTAN: BUKTI EMPIRIS PADA PERUSAHAAN ENERGI TERDAFTAR DI BURSA EFEK INDONESIA
DOI:
https://doi.org/10.35145/bilancia.v10i1.5755Keywords:
Sustainable Performance, Concentration Ownership, Green Investment, Corporate Social Responsibility InvestmentAbstract
This study aims to examine and analyze the influence of ownership concentration, green investment, and corporate social responsibility investment on sustainable performance in energy companies listed on the Indonesia Stock Exchange. The population of this study was 90 energy companies listed on the Indonesia Stock Exchange for the 2023-2024 period. The sample was selected using purposive sampling, resulting in 59 companies meeting the research criteria. Data analysis used panel data regression analysis. The results indicate that green investment and corporate social responsibility investment significantly influence sustainable performance, while ownership concentration does not.
Penelitian ini bertujuan untuk menguji dan menganalisis pengaruh concentration ownership, green investment dan corporate social responsibility investment terhadap sustainable performance pada perusahaan energi yang terdaftar di Bursa Efek Indonesia. Populasi pada penelitian ini sebanyak 90 perusahaan energi yang terdaftar di Bursa Efek Indonesia periode 2023-2024. Sampel penelitian dipilih menggunakan teknik purposive sampling sehingga diperoleh 59 perusahaan yang memenuhi kriteria penelitian. Analisis data menggunakan teknik analisis regresi data panel. Hasil pengujian menunjukkan bahwa secara signifikan variabel green investment dan corporate social responsibility investment berpengaruh terhadap sustainable performance, sedangkan variabel concentration ownership tidak berpengaruh terhadap sustainable performance.
Downloads
References
Alexander, H. B. (2023). Mayoritas emiten energi punya tingkat risiko esg tinggi, siapa paling parah? Kompas.Com.
Dewi, P. P. R. A., Budiadnyani, N. P., Kustina, K. T., & Permana, G. P. L. (2024). Dampak kinerja perusahaan, likuiditas dan ukuran perusahaan terhadap transparansi csr?: perspektif keberlanjutan korporat. Jurnal Ilmiah MEA (Manajemen, Ekonomi, Dan Akuntansi), 8(3), 2652.
Dowling, J., & Pfeffer, J. (1975a). Organizational legitimacy: social values and organizational behavior. Sociological Perspectives, 18(1), 122–136. https://doi.org/10.2307/1388226
Dowling, J., & Pfeffer, J. (1975b). Pacific sociological association organizational legitimacy: social values and organizational behavior. Source: The Pacific Sociological Review, 18(1), 122–136.
Eccles, R. G., Ioannou, I., & Serafeim, G. (2014). The impact of corporate sustainability on organizational processes and performance. Management Science, 60(11), 2835–2857. https://doi.org/10.1287/mnsc.2014.1984
Fathia, A. N., & Sulfitri, V. (2023). Pengaruh csr, carbon emission disclosure dan kinerja lingkungan terhadap keberlanjutan perusahaan dengan visi misi sebagai variabel moderasi. Realible Accounting Journal, 3(1), 1–12. https://doi.org/10.36352/raj.v3i1.532
Fransisca, L., Helma Malini, Anwar Azazi, & Anggraini Syahputri. (2025). Dampak csr dan esg terhadap kinerja keuangan dan keberlanjutan perusahaan dimediasi oleh green finance. Jurnal Akutansi Manajemen Ekonomi Kewirausahaan (JAMEK), 5(1), 115–124. https://doi.org/10.47065/jamek.v5i1.1789
Gavana, G., Gottardo, P., & Moisello, A. M. (2017). Sustainability reporting in family firms: a panel data analysis. Sustainability (Switzerland), 9(38). https://doi.org/10.3390/su9010038
Gujarati, D. N. (2021). Essentials of Econometrics (5th ed.). SAGE Publications, Inc.
Handayani, T. G., & Saputra, D. (2024). Pengaruh sustainability report dan struktur modal terhadap terdaftar di bursa efek indonesia. Jurnal Ekonomi KIAT, 31(1).
Indriastuti, M., & Chariri, A. (2021). The role of green investment and corporate social responsibility investment on sustainable performance. Cogent Business and Management, 8(1). https://doi.org/10.1080/23311975.2021.1960120
Kurniawan, I., & Rokhim, R. (2023). Is esg companies’ performance influenced by ownership structure? Evidence in asean. Interdisciplinary Social Studies, 2(9). https://doi.org/10.55324/iss.v2i9.485
Lee Brown, D., Guidry, R. P., & Patten, D. M. (2009). Sustainability reporting and perceptions of corporate reputation: an analysis using fortune. In M. Freedman & B. Jaggi (Eds.), Sustainability, Environmental Performance and Disclosures (Vol. 4, pp. 83–104). Emerald Group Publishing Limited. https://doi.org/10.1108/S1479-3598(2010)0000004007
Nurmalasari, N., & Kania, D. (2024). The role of green investment on sustainable performance with financial performance as a mediating variable (case studies on manufacturing industrial companies listed on the idx for the 2018-2022 period). Seminar Nasional Pariwisata Dan Kewirausahaan (SNPK), 3(April), 617–628.
Nursida, N. (2017). Pengaruh corporate social responsibility, leverage, dan proporsi komisaris independen terhadap kinerja keuangan perusahaan. Jurnal Ekonomi KIAT, 28(1).
Nuryanto, U. W., Basrowi, Quraysin, I., & Pratiwi, I. (2024). Harmonizing eco-control and eco-friendly technologies with green investment: pioneering business innovation for corporate sustainability in the indonesian context. Environmental Challenges, 15(March), 100952. https://doi.org/10.1016/j.envc.2024.100952
Oktaviani, R. N., Pusparini, D., Yenas, O., & Siska. (2024). The effect of government share ownership, foreign share ownership and media disclosure on the disclosure of csr. Jurnal Akuntansi, Kewirausahaan Dan Bisnis, 9(1), 37–47.
Putri, N. A., Tereza, L., & Fauziah, R. (2022). Csr and sustainability development. research in accounting journal, 2(3), 433–437.
Ramadhani, K., & Astuti, C. D. (2023). Pengaruh green strategy dan green investment terhadap carbon emission disclosure dengan media exposure sebagai variabel pemoderasi. Jurnal Informasi, Perpajakan, Akuntansi, Dan Keuangan Publik, 18(2), 323–338. https://doi.org/10.25105/jipak.v18i2.17244
Rizky, Z., & Yuyetta, E. N. A. (2015). Pengaruh kepemilikan manajerial, kepemilikan pemerintah, konsentrasi kepemilikan, ukuran pemerintah, daya saing industri, serta profitabilitas perusahaan terhadap luas pengungkapan corporate social responsibility. Diponegoro Journal of Accounting, 4(1), 1–10. http://ejournal-s1.undip.ac.id/index.php/accounting
Sapitri, S. A., & Saputra, D. (2025). Pengaruh sustainability reporting disclosure index dan financial distress terhadap penerimaan opini audit going concern pada perusahaan energy yang terdaftar di bursa efek indonesia. Journal of Islamic Finance and Accounting Research, 4(1), 23–42.
Sidiq, F. M., Surbakti, L. P., & Sari, R. (2021). Disclosure of sustainability report: concentration of pengungkapan sustainability report: konsentrasi kepemilikan dan kepemilikan institusional. Studi Akuntansi Dan Keuangan Indonesia, 4(2), 78–88.
Uyun, L., Noviyanti, S. E., & Primasari, D. (2024). Peran csr terhadap keberlangsungan perusahaan the role of csr in company sustainability. JEMeS, Jurnal Ekonomi Manajemen Dan Sosial, 7(2), 40–52.
Yosua, A., & Tundjung, H. (2022). Pengaruh pemangku kepentingan dan pemegang saham terhadap kualitas laporan berkelanjutan. Jurnal Multiparadigma Akuntansi, 4(3), 1312–1321. https://journal.untar.ac.id/index.php/jpa/article/view/19997
Yulianti, S., & Ramli, R. (2025). Pengaruh green investment dan corporate social responsibility terhadap financial performance yang dimoderasi oleh ownership concentration: (studi pada perusahaan indeks sri-kehati yang terdaftar di bei periode 2019-2023. Jurnal Administrasi Bisnis, 15(1), 21–36.
Zulkarnaen, R. F., & Darmawati, D. (2024). corporate governance, kepemilikan institusional, pengungkapan emisi karbon: peran investasi hijau sebagai variabel pemoderasi. Jurnal Ekonomi Trisakti, 5(1), 473–486.
Downloads
Published
Issue
Section
License
Copyright (c) 2026 Bilancia : Jurnal Ilmiah Akuntansi
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
