The Influence of Corporate Governance, Intellectual Capital and Corporate Social Responsibility on The Financial Performance of Pharmaceutical Companies on The Indonesia Stock Exchange

Objective – This paper aims to examine the influence of Leadership Style, Intellectual Capital, and Corporate Social Responsibility on Performance in companies in the sub-sectors of Mining, Pharmacy and Consumption and Household, Basic Industry, Chemical and Infrastructure, Utility and Telecommunication listed on Indonesia Stock Exchange (IDX) 2012-2018. Methodology/Technique – In this research, leadership style is measured transformationally and transactionally. Meanwhile, Intellectual Capital is measured using VAICTM. Furthermore, Corporate Social Responsibility is measured using GRI G4, and Financial Performance is proxied by ROA, ROE, and sales growth. The method used is a saturated sample. The sample in this research was 50 companies in the Basic and Chemical Industry sub-sector, 28 companies in the infrastructure, utilities, and telecommunications sub-sectors, 38 mining sub-sector companies, and 17 companies in the consumer goods sub-sector listed on the Indonesia Stock Exchange (IDX). This research used secondary data taken from financial and annual reports and primary data obtained through questionnaires for leadership style. The analysis method used is simple regression analysis. Findings & Novelty –The results show that the influence of leadership style, intellectual capital, and corporate social responsibility in the four sectors varies with a positive or negative relationship direction. Intellectual capital has a positive significant influence on ROA, ROE and SG in four sectors. Previous research has focused on only one sector. This study compares the influence of leadership style, intellectual capital, and corporate social responsibility in four sectors Type of Paper: Empirical. JEL Classification: M41, M49. Keywords: Comparison; Leadership Style; Intellectual Capital; CSR; Performance Reference to this paper should be made as follows: Gantino, R; Ruswanti, E; Rachman, T. 2020. Leadership Style, Intellectual Capital and Corporate Social Responsibility on Performance, a Comparison Model of Listed Companies in Indonesia., Acc. Fin. Review, 5 (3): 110 – 120. https://doi.org/10.35609/afr.2020.5.3(3)

The purpose of this research is to examine the Good Corporate Governance and Corporate Social Responsibility both simultaneously and partially to Financial Performance and their Implications for Firm Value on Indonesian Banks in the period of 2011-2015. The type used in this research is causality, using purposive sampling method and unbalanced panel data. The object of this research consists of 11 banks with 38 observational data. The method of analysis used in this research is path analysis. The results show that (1) Good Corporate Governance and Corporate Social Responsibility simultaneously influence towards the financial performance; (2) Good Corporate Governance has influence toward the financial performance; (3) Corporate Social Responsibility has influence toward the financial performance; (4) Good Corporate Governance, Corporate Social Responsibility, and financial performance simultaneously influence towards firm value; (5) Good Corporate Governance has no influence toward firm value; (6) Corporate Social Responsibility has no influence toward firm value; (7) The financial performance has influence toward firm value; (8) The financial performance fully mediated the influence of Good Corporate Governance toward firm value; and (9) The financial performance fully mediated the influence of Corporate Social Responsibility toward firm value.

This study aims to determine and analyze the effect of Corporate Social Responsibility, Green Accounting, Intellectual Capital, and Firm Size on Financial Performance with Good Corporate Governance as a moderating variable. This study was conducted on mining companies listed on the Indonesia Stock Exchange (IDX) for a five-year period, namely 2020–2024. The study population consisted of 34 mining companies, with the sampling method using purposive sampling, resulting in 33 companies as research samples. The information used was derived from secondary sources, namely annual reports and sustainability reports. Multiple linear regression and Moderated Regression Analysis (MRA) were used to analyze the data, with the assistance of EViews software. The results showed that Corporate Social Responsibility had a positive and significant effect on Financial Performance. Green Accounting and Intellectual Capital also had a positive and significant effect on Corporate Social Responsibility. Meanwhile, Firm Size had a positive but insignificant effect on Financial Performance. The results of the moderation test indicate that Good Corporate Governance is unable to moderate the influence of CSR, Green Accounting, Intellectual Capital, or Firm Size on Financial Performance. This finding suggests that increasing social responsibility, implementing green accounting, and managing intellectual capital can improve the financial performance of mining companies, but their effectiveness has not been strengthened by corporate governance mechanisms.


 
 
 Abstract: The purpose of this research is to analyze the influence of Corporate Social Responsibility and Intellectual Capital on the financial performance of financial industry companies in Malaysia and Indonesia. The independent variable in this research was VAIC developed by Pulic which is used as a measurement of Intellectual Capital and checklist Corporate Social Responsibility to measure Corporate Social Responsibility, while the dependent variable of this research was financial performance which is proxied by Return on Assets, Return on Equity and Capital Adequacy Ratio. The samples of this study were financial industry companies listed on the Indonesia Stock Exchange and the Malaysia Stock Exchange with the research period of 2013-2018. Data collection used in this study was purposive sampling technique. The results indicated that (1) Corporate Social Responsibility has positive influence to the financial performance (ROA and ROE) but has negative influence to the financial performance (CAR), (2) Intellectual Capital has positive influence to the financial performance (ROA and ROE) but has negative influence to the financial performance (CAR), (3) Corporate Social Responsibility and Intellectual Capital has positive influence to the financial performance (ROA, ROE and CAR).
 Keywords: Corporate Social Responsibility; Intellectual Capital; financial performance; Value Added Intellectual Coefficients (VAIC).
 
 

This study aims to analyze the influence of intellectual capital, business strategy and corporate social responsibility on the financial performance of companies in an empirical study of the coal and pharmaceutical sub-sectors listed on the Indonesia Stock Exchange (IDX) for the 2016-2020 period. The method used in this research is purposive sampling. The number of samples used in this study were 30 companies. The type of data is secondary data sourced from financial reports and annual reports. The data analysis method used is multiple linear regression analysis. The test results show that simultaneously Intellectual Capital, Business Strategy and Corporate Social Responsibility have a significant effect on the Company's Financial Performance. Partially Intellectual Capital has a significant and positive effect on the Company's Financial Performance in the coal sub-sector and the pharmaceutical company sub-sector. Business Strategy has a significant and positive effect on the company's financial performance in the company's sub-sector, while the business strategy has no effect on the company's financial performance in the company's pharmaceutical sub-sector. Corporate Social Responsibility has no significant effect on the company's financial performance in the pharmaceutical sub-sector companies and pharmaceutical sub-sector companies.

Financial performance is influenced by several factors, namely corporate social responsibility and corporate governance, which are mediated by green innovation. This study uses a quantitative method. The data collection type for this research is secondary data. The sample used in the research consists of mining companies. The analysis method used in this study is Panel Regression. The purpose of this research is to analyze the effect of corporate social responsibility and corporate governance on financial performance mediated by green innovation. Financial performance is the dependent variable, corporate social responsibility and corporate governance are the independent variables, and green innovation is the mediating variable. The results of this study show that corporate social responsibility has a significant positive effect on financial performance. Corporate governance does not have a significant effect on financial performance. Green innovation did not successfully mediate the relationship between corporate social responsibility and corporate governance on financial performance.

This research aims to obtain empirical evidence on the influence of Corporate Social Responsibility (CSR) and Good Corporate Governance (GCG) on financial performance. CSR and GCG are measured using data from the 2020–2022 period, while financial performance, proxied by Return on Assets (ROA), is analyzed for the 2021–2023 period. The object of this research is mining sector companies listed on the Indonesia Stock Exchange (IDX). The sample was selected using purposive sampling, resulting in 17 companies with a total of 51 observational data points over three years. The data analysis technique used in this research is multiple linear regression analysis. The results show that CSR and GCG have a positive effect on the financial performance of the companies. These findings indicate that effective implementation of CSR and GCG can enhance a company's legitimacy in the eyes of stakeholders, thereby contributing to improved financial performance in the subsequent period.

This research aims to analyze and determine the impact of corporate social responsibility and good corporate governance on the financial performance of Basic Industry and Chemical Sector companies listed on the Indonesian Stock Exchange. The population in this study is that the research data is the financial reports as of 31 December 2019-2022 of basic industrial and chemical sector companies listed on the Indonesia Stock Exchange, totaling 45 companies which are also used as research samples. The approach to calculating Corporate Social Responsibility uses a dichotomy approach, namely each Corporate Social Responsibility item in the research instrument is given a value of 1 if it is disclosed and a value of 0 if it is not disclosed. Good Corporate Governance is measured using an instrument that has been developed by IICG in the form of the CGPI. For financial performance, use the ROA indicator. Data analysis using SEM-PLS. The results of the analysis show that corporate social responsibility has a positive impact on the company's financial performance. Good corporate governance has a significant positive influence on the financial performance of basic industrial and chemical sector companies listed on the Indonesia Stock Exchange.

This research aims to determine the influence of Corporate Social Responsibility and Good Corporate Governance on firm value with financial performance as a mediating variable. The research used quantitative research using panel data and multiple regression analysis with SPSS 27. This research uses a purposive sampling technique with the object being raw materials sector companies listed on the Indonesia Stock Exchange (BEI) in 2018-2023. The number of observation samples is 90. The results of this research indicate that financial performance cannot mediate the influence of CSR on company value, but financial performance can mediate the influence of GCG on firm value. This implies that investors will pay attention to the company's financial performance, when looking at corporate governance (GCG).

This research aims to analyze the influence of corporate social responsibility (CSR) and intellectual capital on the reputation and financial performance of companies in the Indonesian capital market, namely manufacturing companies listed on the Indonesia Stock Exchange (BEI). It is hoped that this research will provide insight into companies to create a company reputation and improve financial performance by paying attention to the implementation of CSR and good management of intellectual capital. Apart from that, it is hoped that this research will enrich the body of knowledge regarding the relationship between CSR, intellectual capital, company reputation and financial performance. This research was conducted using a quantitative approach. The sampling technique used in this research is the purposive sampling method. The companies included in this research sample are manufacturing companies that were always listed on the IDX from 2018 to 2021, published financial reports and were registered on IMACAWARD, so the final sample totaled 32 companies. Based on the results of regression analysis and mediation tests, it can be concluded that the CSR variable has a significant positive effect on Company Reputation. The Intellectual Capital variable does not have a significant effect on company reputation. Apart from that, the variables CSR and Company Reputation were found to have no significant effect on the company's financial performance. However, Intellectual Capital was found to have a significant positive effect on Company Financial Performance. The Company Reputation variable was found unable to mediate the relationship between CSR and Intellectual Capital on Financial Performance.

This research aimed to look into the effects of corporate social responsibility and good corporate governance on corporate value. In this study, which looked at three independent variables on corporate value, researchers used financial performance as a moderating variable. Secondary data sources for this study have been gathered from the IDX (Indonesian Stock Exchange) for the period 2018-2022, with manufacturing enterprises serving as the sample. This research was carried out utilizing WarpPLS, a data analysis method that employs partial least squares. Corporate social responsibility and good corporate governance boost the value of a corporation. The influence of corporate social responsibility and good corporate governance on corporate value can be moderated by financial performance. Corporations may enhance the way they perform to provide better value and raise stock returns. The study's findings can be used by investors to make informed investment decisions. Corporate social responsibility and good corporate governance policies are one approach for the company to provide a favorable signal to stakeholders and the market about its future survival prospects. Keywords: corporate value, corporate social responsibility, good corporate governance, financial performance

The Effect of Ownership Structure and Iso 14001 Certification on Corporate Social Responsibility Disclosure with Company Size as A Moderating Variable

This study aims to examine the social problem is a complex problem, because it is related to the interests of various parties who are interconnected with the company, namely analyzing and explaining the description of the variables and the influence of Corporate Social Responsibility (CSR) and Intellectual Capital on Financial Performance. The research method used in this research is regression research with a quantitative approach. The population used in this study are all banking companies listed on the Indonesia Stock Exchange from 2015 - 2020. This study has a total population of 42 companies. The sample selection method used in this research is the Purposive Sampling Method, so 15 samples of banking companies are obtained which will be used as data sources for analysis. The results of the analysis show that CSR has an effect on Financial Performance (ROA) so that the higher Corporate Social Responsibility (CSR) it will affect the Financial Performance (ROA) of the banking company. Likewise, IC has an effect on Financial Performance (ROA), which means that IC partially has a positive and significant effect on Financial Performance (ROA). This means that the greater the IC, the higher the Financial Performance (ROA) in banking companies. On the simultaneous influence of CSR and IC simultaneously have a positive and significant effect on the Financial Performance (ROA) of banking companies in the research period
 Keywords: CSR, IC, ROA

This research aims to determine the influence of Corporate Social Responsibility (CSR) and Good Corporate Governance (GCG) on company value with financial performance as an intervening variable. CSR variables are measured using CSRI published by GRI G4, GCG variables are measured by audit committee, independent commissioner, managerial ownership and institutional ownership. The financial performance variable is measured using return on equity (ROE) while the firm value variable is measured using Tobins'Q . The type of research used in this research is quantitative research using panel data and analyzed using SPSS Version 25 software. This research uses a purposive sampling technique with the object being raw materials sector companies listed on the Indonesia Stock Exchange (BEI) in 2017-2022. The number of samples obtained was 99 samples. Because the data used was not normally distributed, data outliers were carried out by removing 9 data so that the remaining 90 data would be used as samples. The results of this research indicate that Corporate Social Responsibility (CSR) has no effect on financial performance. Good Corporate Governance (GCG) has no effect on financial performance. Corporate Social Responsibility (CSR) influences company values. Good Corporate Governance (GCG) has no effect on company value. Financial Performance has no effect on company value, Financial Performance cannot mediate CSR on Company Value. Financial Performance can mediate GCG on Company Value.

This research aims to examine the influence of Corporate Social Responsibility and Good Corporate Governance as proxied by independent commissioners, audit committees, institutional ownership, managerial ownership on financial performance as measured by Return On Assets. The number of samples used in this research were 20 manufacturing companies listed on the Indonesia Stock Exchange (BEI) for the 2017-2021 period. This research uses secondary data. The sampling technique used was purposive sampling. Data were analyzed using multiple linear regression models. This research produces findings that Corporate Social Responsibility, the audit committee has a positive but not significant effect, independent commissioners have a positive and significant effect, and institutional ownership, managerial ownership has a negative and not significant effect on financial performance, as well as Corporate Social Responsibility, independent commissioners, audit committees, Institutional ownership and managerial ownership together influence financial performance.