Pengaruh Pengungkapan Corporate Social Responsibility terhadap Financial Distress Dengan Mekanisme Corporate Governance sebagai Pemoderasi

Yeterina Widi Nugrahanti

Abstract


Penelitian ini bertujuan untuk menguji pengaruh pengungkapan Corporate Social Responsibility (CSR) terhadap financial distress, serta menguji peran mekanisme corporate governance sebagai pemoderasi dalam hubungan antara pengungkapan CSR dan financial distress. Tingkat financial distress dalam penelitian ini diukur menggunakan Altman Z-score. Pengungkapan CSR diukur dengan indeks pengungkapan CSR berdasarkan panduan pengungkan CSR Global Reporting Initiative (GRI). Penelitian ini menggunakan sampel 272 perusahaan non keuangan yang terdaftar di Bursa Efek Indonesia pada tahun 2015-2017 (816 observasi). Pengujian hipotesis pada penelitian ini menggunakan regresi data panel Generalized Least Square (GLS). Hasil penelitian menunjukkan bahwa pengungkapan CSR terbukti dapat menurunkan tingkat financial distress. Penelitian ini juga menemukan bahwa dewan komisaris independen dan kepemilikan institusi terbukti memoderasi pengaruh pengungkapan CSR terhadap tingkat financial distress.

Keywords


corporate social responsibility disclosure; financial distress; corporate governance mechanism; independent board of commissioners; institutional ownership; board of commissioner’ size

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References


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