Tanggung Jawab Otoritas Jasa Keuangan (OJK) dan Peran Lembaga Perbankan dalam Pengelolaan Dana Corporate Social Responsibility (CSR) Berbasis Good Governance

The management of Corporate Social Responsibility (CSR) in the banking sector holds strategic importance in strengthening public trust, supporting sustainable development, and ensuring that the distribution of CSR funds aligns with principles of good governance. However, CSR implementation among Indonesian banks continues to face fundamental issues, including limited transparency, inconsistent reporting standards, and weak supervisory mechanisms. This study aims to analyze the synergy between the Financial Services Authority (OJK) and the banking industry in establishing transparent and accountable CSR fund management. Using a normative legal approach combined with institutional analysis, the findings reveal that although OJK has issued sustainable finance regulations such as POJK No. 51/POJK.03/2017, these regulations have not fully ensured the integrity and accountability of CSR distribution. Strengthening reporting standards, ensuring independent audits, and integrating a digital CSR reporting system are essential to enhance oversight. This study proposes a regulatory–institutional synergy model between OJK and the banking sector to build CSR governance that is transparent, participatory, and impact-oriented.

This study was conducted with the assumption that good corporate governance and corporate social responsibility in organizations will help organizations achieve long-term sustainability. Previously, good corporate governance and corporate social responsibility were primarily applied to corporations with the goal of remaining profitable, whereas non-profit organizations must remain financially viable in order to serve their members and communities. The focus of this study is on the church as a religious institution that also serves as a non-profit corporation. Data was gathered using a quantitative and qualitative mixed method approach. The quantitative data analysis method employs Ritchie and Kolodinsky's Financial Performance Ratios, which include Fiscal Performance, Public Support, and Investment Performance Ratios, as well as an interpretative paradigm with ethnographic methods for qualitative research. The study's findings demonstrate that financial performance, as evaluated by Ritchie and Kolodinsky financial ratios, has been erratic, with a propensity to decline in 2017 due to a change in church management. The interviews revealed that the Church of Batak Karo Protestant practices good corporate governance and corporate social responsibility, which have a favourable impact on financial performance. To gain public trust, the Church of Batak Karo Protestant must continually enhance its Good Corporate Governance and Corporate Social Responsibility. This study also found that the Karo tribe's culture has a significant impact on the Church of Batak Karo Protestant's application of Good Corporate Governance and Corporate Social Responsibility. The policy recommendations in this study for the Church of Batak Karo Protestant are to establish a standardized and integrated management system that incorporates Good Corporate Governance and Corporate Social Responsibility, as well as the assimilation of Karo culture, based on the findings.

The research aims to analyze the influence of Good Corporate Governance (GCG) and Corporate Social Responsibility (CSR) on tax management in issuers listed on the Indonesia Stock Exchange in the banking sector for the period 2020-2023, with firm size as a moderating variable. The study utilizes panel data from 47 banking issuers over four years, resulting in a total of 188 data points analyzed using SPSS version 26. The findings indicate that GCG and CSR do not significantly affect tax management. Additionally, the size of the issuer does not moderate the influence of GCG and CSR on tax management, indicating that although issuers implement GCG and CSR practices, they have not yet been able to improve the effectiveness of tax management. This finding provides important insights for stakeholders and regulators in understanding the complexities of the relationship between corporate governance aspects, social responsibility, and tax management strategies in banking sector issuers.

South Konawe Regency, which has many companies spread across several sub-districts, in implementing CSR in general, which is related to welfare, has not been felt by the community, especially those around the companies in South Konawe Regency. The aim of this research is to determine the process of allocating funds and the contribution of using Corporate Social Responsibility (CSR) funds to improve the welfare of communities around mines in South Konawe Regency. This type of research is qualitative research which is descriptive exploratory in nature which attempts to describe or describe the various realities found in this research. The sample selection method for this research was purposive. The mines sampled are divided into two categories, namely mines that have production operation status and mines that still have exploration status located in 7 (seven) sub-districts, namely Punggaluku, Laeya, Palangga, South Palangga, Lainea, Lalembu and Laonti. Data collection techniques are the observation method, questionnaire method, and documentary method. The data analysis techniques in this research are divided into three, namely data reduction, data display, and drawing conclusions or verification. The research results show that the company's CSR allocation process is carried out by the CSR sector making an annual budget plan. The budget is made based on the year's work plan and on requests from the surrounding community. However, whether the action plan from the CSR budget plan is carried out according to plan or not depends on the profit obtained by the company. So that the company in terms of distribution of Corporate Social Responsibility (CSR) funds is not carried out evenly in the community. Contributions in the use of Corporate Social Responsibility (CSR) funds are not only intended for the community but also for the company itself. The use of CSR funds for community welfare has not been felt by society in general, especially people who live in areas around the mine. Several companies in South Konawe Regency in the process of allocating CSR funds generally focus more on physical aspects such as building mosque ceilings, making curtains, making football field stands and repairing school buildings and so on.

People and other organisms depend on natural resources such as fresh water, land, clean air, wood, and food for critical life requirements and wellbeing. It is well documented that today’s Western way of living and the spread of capitalism is having a detrimental impact on societies and the natural environment. As one of the greatest users of natural and human recourses, many companies have started doing their part in the journey toward Earth’s sustainability and are actively working on translating the idea of sustainable development (SD) into reality. Companies often address SD through their corporate social responsibility (CSR) programs. CSR refers to as a company’s continuing commitment to integrate ecological, social, and economic interests in company’s operations and in its interactions with stakeholders. This commitment is usually done on a voluntary basis (Dahlsrud, 2008). This PhD thesis aims to provide a better understanding of how the CSR adaptation process in private companies can be supported, which is of particular importance and interest since the economic interests (i.e., business case logic) of private companies often clash with CSR objectives. Consequently, adapting to CSR principles can be quite challenging for these companies. Many scholars have attempted to identify factors that can facilitate the CSR adaptation process. However, though any large-scale organizational change requires employees to learn new ways of doing their jobs, the role of learning or human resource development in CSR adaption has remained largely unexplored in the CSR literature. This PhD thesis contributes to this line of research by answering the following research question: Which internal resources related to learning at the organizational and individual level contribute to the CSR adaptation process in private companies? With respect to the organizational level, we found that certain learning organization characteristics can support the CSR adaptation process. We found that stimulating group learning, leadership that encourages learning, and connecting to the local communities are LO characteristics that can directly influence CSR adaptation in a positive way. With respect to the individual level, we found that CSR managers, those managing the CSR adaptation process, need specific individual competencies in order to do their jobs effectively. We identified eight distinct individual competencies (e.g., Balancing personal ethical values and business objectives). We also found that CSR managers have different job roles in the CSR adaptation process. We identified six of these roles (e.g., strategizing role) and showed that the business case logic influences the relative perceived importance of specific individual competencies within each job role. To conclude, the key message of this thesis, and the answer to the research question is two-fold. First, because CSR managers are the ones who actually manage the CSR adaptation process they can play a crucial role in the CSR adaptation process if they possess the right individual competencies. In order to develop these individual competencies, CSR managers should take ownership of their learning process and seek opportunities to learn with and from others. Second, leadership and connecting with external parties are of particular importance to the CSR adaptation process. With respect to connecting with external parties: on the organizational level, having good relations with external parties improves CSR adaptation, because such relationships stimulate learning processes within the company. Furthermore, on the individual level, relationships with external parties promote the development of the individual competencies of the CSR managers responsible for the adaptation process. With respect to leadership: on the organizational level, leadership for learning, referring to active support and stimulation of learning, indirectly affects CSR adaptation; it enhances employees’ learning behavior and therefore improve employees’ cognitive readiness and support for the changes needed to integrate CSR within the company. Furthermore, on the individual level, leadership competencies are essential for driving the changes needed in the CSR adaptation process. This thesis contributes to the literature on the CSR adaptation process in several ways. First, this thesis addresses the issue of the CSR adaptation process from a learning or human resource development perspective and as such complements previous research employing the (human resource) management perspective on CSR. Second, it addresses learning from both the organizational and individual level, thereby providing valuable insights into if and how specific internal resources related to learning can contribute at different levels to the CSR adaptation process in private companies. Third, little is known about how factors on an individual level can support companies in their adaptation to CSR principles and their social performance at large (Aquinis & Glavas, 2012). This doctoral thesis is one of the first providing insights into this matter and demonstrates that learning-related influences on the individual level may be of value to the adaptation process. More specifically, this thesis adds to the literature by (1) identifying the job roles and individual competencies CSR managers need to effectively do their jobs within private companies; previous studies on CSR-related competencies often studied this topic from an educational point of view, thereby not fully addressing the complexity of the business context in which CSR managers operate; (2) by exploring how CSR managers can develop their competencies, which up till now remained unexplored in the CSR literature; and (3) by showing how certain organizational characteristics (i.e., learning climate) and personal characteristics (i.e., learning goal orientation) affect the development of CSR managers’ competencies. There are several implications to be derived from our research with respect to learning (activities) for the benefit of CSR. For one, developing LO characteristics may help companies create favorable conditions for integrating CSR principles. By facilitating learning, companies provide employees with the opportunity to develop their “receptiveness to change”. As such, we suggest that companies experiment with employing LO characteristics to advance the integration of CSR principles. In particular, we suggest that company’s management show leadership for learning by endorsing learning behavior among their employees as this LO characteristic in particular seems to promote the integration of CSR principles. The management can stimulate such behavior by providing employees with continuous opportunities to learn (e.g., provide formal trainings and professional development opportunities), learn in groups (e.g., stimulate team work), and learn with and from external parties (e.g., stimulate stakeholder involvement). Furthermore, it is important for companies to set up and structure a learning system within the company that enables customized learning, meaning a learning system that provides learning opportunities that fit’s the job and needs of individual workers. Companies can enable customized learning among CSR managers by, for example, providing them with flexible working hours and fixed budgets and hours that they can use for professional development. Such a learning system promotes meaningful learning and self-directed learning behavior among employees (Baars-van Moorsel, 2003), which, according to our research, can stimulate the development of CSR-related competencies. To conclude, we hope that this thesis will encourage more research on the role of learning in the CSR adaptation process. Our research provides ample directions to further explore this topic. Furthermore, we hope that this research will inspire CSR professionals to start a dialogue with their employers about their competencies and professional development opportunities or that it inspires them to take control of their learning process and create their own learning network in order to develop their competencies, if needed. Moreover, we hope that by developing the relevant CSR-related competencies, CSR managers will effectively manage the CSR adaptation process and that higher CSR maturity levels are reached and more ambitious sustainability challenges are successfully addressed by private companies.

Research Question: Does Good Corporate Governance have a moderating effect on the relationship between Corporate Social Responsibility and Real earnings management? Motivation: Nowadays, the relationship between responsible governance and REM has gained momentum in the accounting and financial studies. In this context, the present work will provide more insight into the relationship between responsible governance factors (GCG, CSR) and REM in the presence of R&D and M&A. Idea: this paper is to examine the moderating effect of good corporate governance (GCG) on the relationship between corporate social responsibility (CSR) and real earnings management (REM) level in innovative firms during mergers and acquisitions (M&A) transactions. Data: Using the corporate governance ratio and CSR scores calculated by the Thomson Reuters Eikon ASSET4 database, this study was developed to investigate these issues on a sample of 113 U.S. S&P 500 index firms between 2015 and 2021. This study adopted a sampling process that divides the total sample into two sub-samples according to whether the companies are involved in M&A transactions (test sample) or not (control sample). Tools: Multiple regressions on panel data is used to estimate our hypotheses. Findings: The empirical results reveal that CSR score has a negative and statistically significant effect on REM in highly R&D-intensive firms involved in M&A. Furthermore, the findings suggest that that good corporate governance variable plays a moderating role in the relationships between CSR and REM of these firms but not for the non-merged ones. Contribution: This research contributes to the literature by providing the significant links between some CSR, good corporate governance and the REM level within R&D-intensive firms in the American M&A market.

The application of good corporate governance principles is vital in all companies, particularly in the banking sector. This study examines the impact of good corporate governance on job satisfaction and employee performance, as well as the relationship between job satisfaction and employee performance. Public trust in state-owned banks is higher than that of private banks, making BNI an interesting case study. BNI, as the only state-owned bank operating globally, is known for its good corporate governance practices, as evidenced by its high CGPI score. This study focuses on permanent employees of BNI's Regional Office 15 in East Jatinegara, Jakarta. A survey was conducted among 125 respondents using SEM PLS. The results show that good corporate governance principles positively affect job satisfaction and employee performance, but job satisfaction does not directly impact employee performance. This research contributes to managerial implications, suggesting that companies can redesign positions, promotions, salaries, or rewards to enhance job satisfaction among employees. The findings of this study are expected to provide insights for managers to improve employee satisfaction and performance by implementing good corporate governance practices.

The Corporate Social Responsibility (CSR) program of PT. Antam UBPN Kolaka is an essential part of the company's efforts to fulfill its social and environmental responsibilities in line with the principles of Good Corporate Governance (GCG). However, challenges in applying GCG principles in the CSR program, such as transparency, accountability, independence, and fairness, still need further examination, particularly in the context of uneven program distribution. This study purposed to analyze the application of Good Corporate Governance principles in implementing Corporate Social Responsibility programs at Antam UBPN Kolaka. The main focus of this research was on the principles of transparency, accountability, responsibility, independence, and fairness in CSR management. The research method employed is a qualitative approach with data analysis through interviews, observations, and documentation. The results indicated that Antam UBPN Kolaka has been consistently applying GCG principles in its CSR programs, with particular attention to community and government involvement, as well as fair and proportional distribution of benefits. The application of these principles reflects transparent and accountable governance, oriented toward social sustainability. This study concludes that Antam UBPN Kolaka has successfully built CSR governance that aligns with GCG principles, although there are still shortcomings in terms of the distribution gap, limited access to information for the community, and the influence of external pressures that may affect the objectivity of the CSR program.

This research examines the application of fiqh muamalah in Islamic economic practice by utilizing Corporate Social Responsibility (CSR) funds as a solution to overcome social inequality. This research uses a qualitative approach with a library research method. The main focus of this approach is to understand in depth how the principles of fiqh muamalah are applied in Islamic economic practice, especially in the management of Corporate Social Responsibility (CSR) funds as an effort to realize social justice. This approach was chosen because it is in accordance with the purpose of the study, which emphasizes conceptual and interpretative understanding of literary data. Thus, CSR functions as a manifestation of corporate social responsibility, as well as a means of da'wah bil hal that spreads benefits widely and reflects the principle of rahmatan lil 'alamin. This application is also in line with DSN-MUI fatwa No. 77/DSN-MUI/VII/2010, which emphasizes the importance of CSR management according to sharia principles. Fatwa DSN-MUI No. 77/DSN-MUI/VII/2010 provides guidance on the implementation of CSR in accordance with sharia, including the management of halal funds, setting clear social goals, and applying the principles of transparency and sustainability. In conclusion, CSR in the view of fiqh muamalah is a very important strategy to create a fair, sustainable and inclusive Islamic economic order. This is particularly relevant in Indonesia, which is a Muslim-majority country.Keywords : fiqih muamalah, ekonomi islam, corporate social responsibility, keadilan sosial

:This study aims to analyze the effect of Diversification, Good Corporate Governance, Corporate Social Responsibility on Company Risk. The population in this study were manufacturing companies listed on the Indonesia Stock Exchange (IDX) during the 2015-2019 period, which amounted to 176 companies. The research method used in this research is the explanatory method which aims to test the effect between variables through hypothesis testing using quantitative data. This study uses secondary data obtained from the website www.idx.co.id and the company's Annual Report. The sample selection used purposive sampling method with a total of 205 data from 41 companies in each period. This study uses Structural Equation Modeling-Partial Least Square (SEM-PLS) in analyzing the data. The results showed that Diversification had a positive and significant effect on Corporate Risk, Good Corporate Governance had a positive and significant impact on Corporate Risk, and Corporate Social Responsibility had a positive and significant impact on Corporate Risk. Company risk in this study is measured using Business Risk. Diversification is measured using the Herfindahl index, Good Corporate Governance is measured by the KNKG standard, and Corporate Social Responsibility is measured using the GRI-G4 indicator with the formula Good Corporate Governance has a positive and significant effect on Company Risk, Corporate Social Responsibility has a positive and significant impact on Company Risk. Company risk in this study is measured using Business Risk. Diversification is measured using the Herfindahl index, Good Corporate Governance is measured by the KNKG standard, and Corporate Social Responsibility is measured using the GRI-G4 indicator with the formula Good Corporate Governance has a positive and significant effect on Company Risk, Corporate Social Responsibility has a positive and significant impact on Company Risk . The company's risk in this study is measured using Business Risk. Diversification is measured using the Herfindahl index, Good Corporate Governance is measured by the KNKG standard, and Corporate Social Responsibility is measured using the GRI-G4 indicator with the formula Corporate Social Responsibility has a positive and significant impact on Company Risk. The company's risk in this study is measured using Business Risk. Diversification is measured using the Herfindahl index, Good Corporate Governance is measured by the KNKG standard, and Corporate Social Responsibility is measured using the GRI-G4 indicator with the formula Corporate Social Responsibility has a positive and significant impact on Company Risk. The company's risk in this study is measured using Business Risk. Diversification is measured using the Herfindahl index, Good Corporate Governance is measured by the KNKG standard, and Corporate Social Responsibility is measured using the GRI-G4 indicator with the formula CSR disclosure ratio measurement

This study aims to analyze the effect of Diversification, Good Corporate Governance, Corporate Social Responsibility on Company Risk. The population in this study were manufacturing companies listed on the Indonesia Stock Exchange (IDX) during the 2015-2019 period, which amounted to 176 companies. The research method used in this research is the explanatory method which aims to test the effect between variables through hypothesis testing using quantitative data. This study uses secondary data obtained from the website www.idx.co.id and the company's Annual Report. The sample selection used purposive sampling method with a total of 205 data from 41 companies in each period. This study uses Structural Equation Modeling-Partial Least Square (SEM-PLS) in analyzing the data. The results showed that Diversification had a positive and significant effect on Corporate Risk, Good Corporate Governance had a positive and significant impact on Corporate Risk, and Corporate Social Responsibility had a positive and significant impact on Corporate Risk. Company risk in this study is measured using Business Risk. Diversification is measured using the Herfindahl index, Good Corporate Governance is measured by the KNKG standard, and Corporate Social Responsibility is measured using the GRI-G4 indicator with the formula Good Corporate Governance has a positive and significant effect on Company Risk, Corporate Social Responsibility has a positive and significant impact on Company Risk. Company risk in this study is measured using Business Risk. Diversification is measured using the Herfindahl index, Good Corporate Governance is measured by the KNKG standard, and Corporate Social Responsibility is measured using the GRI-G4 indicator with the formula Good Corporate Governance has a positive and significant effect on Company Risk, Corporate Social Responsibility has a positive and significant impact on Company Risk . The company's risk in this study is measured using Business Risk. Diversification is measured using the Herfindahl index, Good Corporate Governance is measured by the KNKG standard, and Corporate Social Responsibility is measured using the GRI-G4 indicator with the formula Corporate Social Responsibility has a positive and significant impact on Company Risk. The company's risk in this study is measured using Business Risk. Diversification is measured using the Herfindahl index, Good Corporate Governance is measured by the KNKG standard, and Corporate Social Responsibility is measured using the GRI-G4 indicator with the formula Corporate Social Responsibility has a positive and significant impact on Company Risk. The company's risk in this study is measured using Business Risk. Diversification is measured using the Herfindahl index, Good Corporate Governance is measured by the KNKG standard, and Corporate Social Responsibility is measured using the GRI-G4 indicator with the formula CSR disclosure ratio measurement

Development of financial performance in the application of Good Corporate Governance and Corporate Social Responsibility which affects the values of honesty private individuals, in order to be able to run the accountability, value for money, fairness in financial management, transparency, control, and free of conflicts of interest (independence). The main concern in this study is focused on achieving value personal spirituality through the financial performance and capabilities of Good Corporate Governance (GCG) and Corporate Social Responsibility (CSR) in moderating the relationship with the financial performance of value personal spirituality. This study is a descriptive verifikatif. The unit of analysis in this study was 15 companies in Indonesia with a policy that has been applied through the concept since January of 2008 until now, with the support of the annual report of the company, the company's financial statements, company reports to the disclosure of Good Corporate Governance and Corporate Social Responsibility in the annual report. Overall reports published successively during the years 2008-2011. The results of this study indicate financial performance affects the value of personal spirituality, and for variable GCG obtained results that could moderate the relationship of financial performance to the value of personal spirituality. But for the disclosure of CSR variables obtained results can’t moderate the relationship with the financial performance of personal spirituality.

Sustainable Development and the Need for Sustainable Oriented Corporate Law and Regulation

This study investigates the impact of corporate social responsibility (CSR) funding in the education sector and the environment and how it affects India’s sustainable development. This study was conducted using secondary data and the data were collected from 28 Indian states and three union territories for the four fiscal years 2018 to 2021. This study examines the hypothesis using the generalized method of moments (GMM). As a result, it is found that overall CSR funding positively contributes to India’s sustainable development. Additionally, this study finds that CSR funding in education and the environment supports India’s sustainable development. It is also observed that, under the interaction effect of poverty (poverty score), CSR funding (total) and CSR funding on education positively affect sustainable growth. However, CSR funding for environmental activities does not significantly influence India’s FD under the moderation of poverty score. These factors are essential for India’s sustainable development and poverty reduction. Investing CSR funds in rural development, education, the environment, health, and other areas supporting India’s sustainable development leads to impressive economic growth and reduces poverty. Hence, it is attributed that CSR funding plays a vital role in India’s sustainable development. Future research can be carried out on CSR policies and funding using different variables and periods.

<p>CSR is an activity that provides broader benefits in various social aspects such as education, health, community empowerment or environmental preservation. CSR actions applied as a strategy will only cause irregularities in the use of funds owned by the company which can trigger to damage to the company's financial performance. This is thought to be due to the fact that there are quite a lot of funds budgeted with the CSR implementation which is not supervised, which causes inefficiency. This study aims to determine and analyze the provisions of the laws and regulations that govern CSR related to the obligations of Limited Liability Companies in the Indonesian legal system and to find out and analyze the implementation of company obligations to implement CSR in Indonesia and find solutions to corporate liability arrangements such as Limited Liability Companies (PT), Enterprises. Micro, Small and Medium Enterprises (UMKM) and other businesses carry out CSR to be useful in accordance with that CSR. The approach used is the Legislative Law approach and the case approach. From the research results it is known that 1). CSR regulations concerning the obligation of PT to implement it in the Indonesian legal framework are regulated in several laws but there are 2 (two) laws that specifically regulate CSR but the two laws are inconsistent with regard to sanctions if these obligations are violated, 2) Implementation of PT obligations implementing CSR in Indonesia is a program carried out by the company that is not in accordance with the community needs, is carried out individually, is moving and it’s not sustainable, there is no provision that regulates the amount of funds and there is no supervision from the local government in managing CSR. The occurrence of overlapping laws and regulations so that the implementation of the CSR program does not match the policies issued by the local government. CSR funds are misused and even corrupted by local officials and there is no evaluation by the company because it is more concerned with profit in carrying out CSR. 3). Regulating company obligations such as Limited Liability Companies (PT), Micro, Small and Medium Enterprises (MSMEs) and other businesses implementing CSR so that it is useful, it is necessary to establish a state institution that manages CSR and accommodates the companies’, government’s and society interests so that the CSR program can run efficiently, precisely targeted and continuously.</p><p> </p>