Pengaruh Corporate Social Responsibility (CSR) terhadap Kinerja Keuangan Perusahaan (Studi pada Sektor Infrastruktur yang Terdaftar di BEI Tahun 2018–2024)

Yunda Kintan Sinatriya, Prof. Dr. Eko Suwardi, M.Sc.

2026 | Skripsi | AKUNTANSI

Penelitian ini menguji pengaruh Corporate Social Responsibility (CSR) terhadap kinerja keuangan perusahaan sektor infrastruktur yang terdaftar di Bursa Efek Indonesia selama periode 2018–2024. Kinerja keuangan diproksikan dengan Return on Asset (ROA) dan Return on Equity (ROE), sedangkan ukuran perusahaan digunakan sebagai variabel kontrol. Sampel ditentukan melalui metode purposive sampling dan menghasilkan tujuh perusahaan dengan total 49 observasi. Tingkat pengungkapan CSR diukur berdasarkan pedoman Global Reporting Initiative (GRI). Data dianalisis menggunakan regresi data panel dengan bantuan Stata versi 17. Berdasarkan hasil pemilihan model, Common Effect Model menjadi model yang paling sesuai untuk ROA maupun ROE. Karena ditemukan heteroskedastisitas, pengujian akhir dilakukan dengan menggunakan robust standard errors. 
Hasil penelitian menunjukkan bahwa CSR berpengaruh positif dan signifikan terhadap ROA dan ROE. Temuan ini menunjukkan bahwa semakin luas pengungkapan CSR, semakin baik kemampuan perusahaan dalam menghasilkan laba, baik melalui pengelolaan aset maupun modal sendiri. Sementara itu, ukuran perusahaan tidak terbukti berpengaruh signifikan terhadap ROA maupun ROE. Hasil uji kelayakan model juga menunjukkan bahwa kedua model regresi layak digunakan untuk menjelaskan variasi kinerja keuangan perusahaan.

This study examines the effect of Corporate Social Responsibility (CSR) on the financial performance of infrastructure companies listed on the Indonesia Stock Exchange during the 2018–2024 period. Financial performance is measured using Return on Assets (ROA) and Return on Equity (ROE), with firm size included as a control variable. The sample was selected through purposive sampling and consisted of seven companies, resulting in 49 firm-year observations. CSR disclosure was measured based on the Global Reporting Initiative (GRI) guidelines. The data were analyzed using panel data regression with Stata version 17. The model selection tests indicated that the Common Effect Model was the most appropriate model for both ROA and ROE. Since heteroskedasticity was detected, the final estimation was conducted using robust standard errors.
The results show that CSR has a positive and significant effect on both ROA and ROE. This finding indicates that broader CSR disclosure is associated with a stronger ability of companies to generate profits from both their assets and shareholders’ equity. Meanwhile, firm size does not have a significant effect on either ROA or ROE. The model feasibility tests also confirm that both regression models are statistically appropriate for explaining variations in corporate financial performance.

Kata Kunci : Corporate Social Responsibility, Kinerja Keuangan, Return on Asset, Return on Equity.