Greenwashing sebagai Pemediasi Hubungan Dualitas CEO terhadap Financial Firm Performance: Studi Negara-Negara di ASEAN

Fahayu Priristia, Heyvon Herdhayinta, S.E., M.Sc., Ph.D

2025 | Tesis | S2 Ilmu Akuntansi

Penelitian ini bertujuan untuk menguji pengaruh langsung dualitas CEO terhadap financial performance dan menguji efek mediasi greenwashing pada hubungan dualitas CEO terhadap financial performance. Sampel yang digunakan adalah perusahaan non-keuangan yang tercatat di bursa efek negara-negara di ASEAN-5 dari 2016 hingga 2023. Metode penentuan sampel menggunakan purposive sampling. Data variabel diambil dari database World Bank, Bloomberg, dan Thomson Reuters. Temuan penelitian menunjukkan dualitas CEO berpengaruh signifikan positif terhadap greenwashing, namun dualitas CEO berpengaruh signifikan negatif terhadap financial performance. Hasil penelitian juga menunjukkan bahwa greenwashing berpengaruh signifikan positif terhadap financial performance. Selain itu, greenwashing memediasi hubungan dualitas CEO dengan financial performance. Secara keseluruhan, studi ini berkontribusi pada literatur tentang pengaruh dualitas CEO dan greenwashing perusahaan pada kinerja keuangan. Penelitian ini menyoroti perlunya regulasi terkait greenwashing di negara-negara berkembang.

This study aims to examine the direct effect of CEO duality on financial performance and to investigate the mediating effect of greenwashing in the relationship between CEO duality and financial performance. The sample consists of non-financial companies listed on the stock exchanges of ASEAN-5 countries from 2016 to 2023. The sample was selected using purposive sampling. Data for the variables were obtained from the World Bank, Bloomberg, and Thomson Reuters databases. The findings indicate that CEO duality has a significant positive effect on greenwashing but a significant negative effect on financial performance. The results also indicate that greenwashing has a significant positive impact on financial performance and mediates the relationship between CEO duality and financial performance. Overall, this study contributes to the literature on the impact of CEO duality and corporate greenwashing on financial performance. It highlights the need for regulatory frameworks addressing greenwashing in developing countries.

Kata Kunci : dualitas CEO, greenwashing, financial performance