PENGARUH HAK PEMEGANG SAHAM, PENGUNGKAPAN DAN TRANSPARANSI TERHADAP KINERA PERUSAHAAN DENGAN TANGGUNG JAWAB SOSIAL SEBAGAI PEMODERASI
Abstract
Penelitian ini bertujuan untuk menguji pengaruh hak pemegang saham terhadap kinerja perusahaan, pengaruhpengungkapan dan transparansi terhadap kinerja perusahaan, tanggung jawab sosial sebagai pure moderasi atau variabelkuasi moderasi dalam pengaruh hak pemegang saham, pengungkapan dan transparansi terhadap kinerja perusahaan.Populasi yang digunakan pada penelitian ini adalah perusahaan terdaftar di bursa efek Indonesia, Malaysia danThailand, diseleksi dengan menggunakan metode purposive sampling hingga menghasilkan 142 perusahaan. Datadianalisis dengan moderated regression analysis (MRA). Hasil penelitian menunjukkan bahwa hak pemegang sahamberpengaruh positif terhadap kinerja perusahaan, pengungkapan dan transparansi tidak berpengaruh terhadap kinerjaperusahaan. Sedangkan pengungkapan tanggung jawab sosial memiliki efek moderasi pada hubungan hak pemegangsaham terhadap kinerja perusahaan. Namun pengungkapan tanggung jawab sosial tidak memiliki efek moderasi padahubungan pengungkapan dan transparansi terhadap kinerja perusahaan.References
Alshammari, M. 2015. Corporate Social Responsibility and Firm Performance: The Moderating Role of Reputation and
Institutional Investors. International Journal of Busineee and Management., 10 (6): 15-28
Anderson, M.L,. dan Olsen, L. 2011. Corporate Social and Financial Performance: A Canonical Correlation Analysis.
Academy of Accounting and Financial Studies Journal, 15 (2): 17-35
Bhadwaj, A., Keil, M., dan Mahring, M. 2009. Effect on Information Technology Failures on the Market Value of
Firms. The Journal of Strategic Information System, Vol. 18 (2): 66-79
Bharadwaj, A.S. 2000. A Resource-Based Perspective on Information Technology Capability and Firm Performance:
An Empirical Investigation. MIS Quarterly, Vol. 24 (1): 169-196
Brown, L.D, dan Caylor M.L., 2006. Corporate Governance and Firm Valuation. Journal of Accounting and Public
Policy, Vol. 25: 409-434
Cheung, Conelly, Estanislao,. Limpaphayom, P. Utama S. 2014. Corporate Governance and Firm Valuation in
Asian Emerging Markets http://link.springer.com/chapter/10.1007/978-3-642-44955-0_2
Donaldson dan Preston, 1995. The Stakeholder Theory of The Corporation: Concepts, Evidence and Implication. The
Academy of Management Review, 20: 65-91
Gaio, Cristina dan Raposo. C. 2011. Earnings Quality and Firm Valuation: International Evidence. Accounting and
Finance, Vol, 51: pp 467-499
Garcia, J.H. Afsah, Shakeb dan Stenner, T. 2009. Which Firm are More Sensitive to Public Disclosure Shemes for
Pollution Control, Environ Resource Econ. 42:151-168
Gregory A., Tharyan R dan Whittaker. 2014. Corporate Social Responsibility and Firm Value: Disaggregating teh
Effects on Cash Flow, Risk and Growth. Journal of Business Ethics. 124 : 633-657
Haat, M.H.C., Rahman, R.A. dan Mahenthiran, S. 2008. Corporate Governance, Tranparency and Performance of
Malaysian Companies, Managerial Auditing Journal, 23 (8): 744-778
Jensen. M.C. dan Meckling, W.H. 1976. Theory Of The firm: Managerial Behaviour, Agency Costs and Ownership
Structure. Journal of Financial Economics, 19. pp 127-168
Kurniasari dan Warastuti, 2015. The Relationship Between CSR and Profitability to Firm Value In Sri-Kehati Index.
Journal of Economic Behavior, Vol.5 (1): 31-41
OECD Report. 2004. The OECD Principle of Corporation Governance, The Organisation for Economic Cooperation
and Development, Paris
Promsen, W., Prasertsri, W., dan Boonyanet, W. 2015. Value Relevance of Corporate Governance on Firm Value in The
Comprehensive Income Context. IJABER. Vol. 13 (4): 1585-1618
Sharif, S.P dan Ming, Ming Lai. 2015. The Effects of Corporate Disclosure Practices on Firm Performance, Risk and
devidend Policy, International Journal of Disclosure and Governance, Vol. 12 (4) : 311-326
Schaefer, B.P. 2008. Shareholder and Social Responsibility, Journal of Business Ethics, 81: 297-312
Stiglbauer, M. 2010. Transparency dan Disclosure on Corporate Governance as a Key Factor of Companies’ Success:
a Simultaneous Equations Analysis for Germany. Problems and Perspective in Management, Vol. 8 (1):161-173
Wiwattanantang, Y. 2001. Controlling Shareholders and Corporate Value: Evidence from Thailand. Pacific-Basin
Finance Journal, 9 (4): 323-362
Zhuang, J., Edwards, D., Webb, D., & Capulong, M. (2000). Corporate Governance and Finance in East Asia. A Studi
of Indonesia, Republic of Korea, Malaysia, Philippines, and Thailand vol 1. Manila: Asian Development Bank.
