Analisis Pengaruh Kinerja Keberlanjutan Terhadap Kinerja Keuangan Selama Masa Pandemi Covid-19

MEILANI INTAN P, Singgih Wijayana, S.E., M.Sc., Ph.D

2022 | Tesis | MAGISTER AKUNTANSI

Penelitian ini menguji pengaruh kinerja keberlanjutan dan perbedaan jenis industri terhadap kinerja keuangan perusahaan selama masa pandemi Covid-19. Untuk menjawab hipotesis penelitian, peneliti menggunakan teori institusional sebagai rerangka pikir yang menjelaskan aksi pengungkapan laporan sukarela terhadap kinerja keuangan perusahaan. Peneliti melakukan pengujian terhadap 1.424 sampel perusahaan pada tahun 2017 hingga 2020. Sampel diperoleh dengan menggunakan metode purposive sampling dan match-pair design sample. Model penelitian akan diuji dengan menggunakan metode regresi linier berganda. Hasil menunjukkan bahwa Covid-19 memberikan dampak negatif signifikan terhadap kinerja keuangan perusahaan. Peneliti juga menemukan bahwa kinerja keberlanjutan dan perbedaan jenis industri tidak mengimunisasi kinerja keuangan perusahaan selama masa pandemi Covid-19 di Indonesia. Penelitian ini berkontribusi dalam pengembangan literatur terkait pengaruh keberadaan kinerja keberlanjutan di Indonesia. Hingga saat ini, kinerja keberlanjutan bukan merupakan suatu kinerja yang memengaruhi para pemangku kepentingan dalam pengambilan keputusan. Keterbatasan jumlah perusahaan yang mengungkapkan kinerja keberlanjutan menjadi salah satu kendala yang mampu menjawab fenomena tersebut. Hasil penelitian ini diharapkan mampu menjadi bahan pertimbangan para regulator dalam memberikan arahan kepada emiten yang terdaftar di Bursa Efek Indonesia (BEI) terkait kinerja keberlanjutan dengan mempertimbangkan dampaknya terhadap lingkungan, sosial, dan tata kelola.

This study examines the effect of sustainability performance and different industry types on the company's financial performance during the Covid-19 pandemic. To answer the research hypothesis, the institutional theory was used as a framework that explains the action of voluntary disclosure of reports on the company's financial performance. The samples were obtained using purposive sampling and match pair design samples, 1.424 samples of companies from 2017 to 2020 were tested. The present study employed a multiple linear regression method to assess the research model. The results demonstrate that Covid-19 has a significantly negative impact on the company's financial performance. We also find that sustainability performance that measured by Environmental, Social, and Governance (ESG) performance and differences in industry types do not immunize the company's financial performance during the Covid-19 pandemic in Indonesia. The literature on the impact of sustainability performance in Indonesia has been enriched by the findings of this study. Up until recently, stakeholders have not been influenced by sustainability performance while making decisions. The limited number of companies that disclose sustainability performance is one of the obstacles that can answer this phenomenon. The results of this study are expected to be considered by regulators in providing direction to issuers listed on the Indonesia Stock Exchange (IDX) regarding sustainability performance by evaluating their impact on the environment, society and governance.

Kata Kunci : kinerja keberlanjutan, kinerja LST, kinerja keuangan perusahaan, sustainability performance, ESG performance, financial performance