DAMPAK ENVIRONMENTAL MANAGEMENT ACCOUNTING DAN GOOD CORPORATE GOVERNANCE TERHADAP FINANCIAL PERFORMANCE
Keywords:
Environmental Management Accounting, Good Corporate Governance, dan Financial Performance
Abstract
Penelitian ini memiliki tujuan untuk menguji dan menganalisis faktor yang mempengaruhi Financial Performance. Beberapa variabel yang digunakan dalam penelitian ini adalah Environmental Management Accounting (EMA) dan Good Corporate Governance (GCG). Populasi akan digunakan dalam penelitian ini adalah perusahaan yang mengikuti program CGPI tahun pelaksanaan 2018-2023. Metode yang digunakan pengambilan data ini yaitu metode purposive sampling. Jumlah sampel yang digunakan yaitu sebanyak 12 perusahaan dan jumlah observasi yang digunakan sebanyak 72 data. Metode analisis yang digunakan dalam penelitian ini yaitu metode analisis kuantitatif. Hasil penelitian menunjukkan bahwa EMA berpengaruh positif dan signifikan terhadap Financial Performance. Sedangkan GCG tidak berpengaruh terhadap Financial Performance. Namun, secara simultan EMA dan GCG berpengaruh positif terhadap Financial Performance.
References
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Mahrani, M., & Soewarno, N. (2018). The effect of good corporate governance mechanism and corporate social responsibility on financial performance with earnings management as mediating variable. Asian Journal of Accounting Research, 3(1), 41–60. https://doi.org/10.1108/AJAR-06-2018-0008
Mukhtaruddin, M., Ubaidillah, U., Dewi, K., Hakiki, A., & Nopriyanto, N. (2019). Good Corporate Governance, Corporate Social Responsibility, Firm Value, and Financial Performance as Moderating Variable. Indonesian Journal of Sustainability Accounting and Management, 3(1), 55. https://doi.org/10.28992/ijsam.v3i1.74
Ningrum, O. W. S., & Sapari. (2021). Pengaruh Intellectual Capital, Kinerja Keuangan Dan Good Corporate Governance Terhadap Nilai Perusahaan. 1, 10(8), 1–23.
Undang-Undang (UU) Nomor 23 Tahun 1997 Tentang Pengelolaan Lingkungan Hidup, (1997). https://www.bphn.go.id/data/documents/97uu023.pdf
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Priharta, A., Gani, N. A., Munawaroh, A., & Ananto, T. (2023). Corporate Governance, Financial Performance and Macroeconomics: The Impact on Bank Profitability Information. Jurnal Kajian Akuntansi, 7(2), 220–236.
Ranjbari, M., Shams Esfandabadi, Z., Gautam, S., Ferraris, A., & Scagnelli, S. D. (2023). Waste management beyond the COVID-19 pandemic: Bibliometric and text mining analyses. Gondwana Research, 114, 124–137. https://doi.org/10.1016/j.gr.2021.12.015
Rizki, R. D. N., & Saad, B. (2023). Dampak Good Corporate Governance terhadap Kinerja Keuangan (Studi Empiris pada Perusahaan Perbankan yang Terdaftar di Bursa Efek Indonesia 2016-2018). Jurnal Keuangan Dan Perbankan, 18(1), 45. https://doi.org/10.35384/jkp.v18i1.331
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Savino, M. M., & Shafiq, M. (2018). An extensive study to assess the sustainability drivers of production performances using a resource-based view and contingency analysis. Journal of Cleaner Production, 204, 744–752. https://doi.org/10.1016/j.jclepro.2018.08.191
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Sudha, S. (2020). Corporate environmental performance–financial performance relationship in India using eco-efficiency metrics. Management of Environmental Quality: An International Journal, 31(6), 1497–1514. https://doi.org/10.1108/MEQ-01-2020-0011
Suh, Y., Seol, H., Bae, H., & Park, Y. (2014). Eco‐efficiency Based on Social Performance and its Relationship with Financial Performance. Journal of Industrial Ecology, 18(6), 909–919. https://doi.org/10.1111/jiec.12167
Tam, L., Thi Mai Anh, N., & Kam Hien, P. (2019). Environmental Management Accounting and Performance Efficiency in the Vietnamese Construction Material Industry—A Managerial Implication for Sustainable Development. Sustainability, 11(19), 5152. https://doi.org/10.3390/su11195152
Wang, R., & Wu, C. (2020). Politician as venture capitalist: Politically-connected VCs and IPO activity in China. Journal of Corporate Finance, 64, 101632. https://doi.org/10.1016/j.jcorpfin.2020.101632
Widarjono, A. (2018). Ekonometrika Pengantar dan Aplikasinya Disertai Panduan Eviews (UPP STIM YKPN (ed.); 5th ed.).
World Business Council For Sustainable Development. (2015). Environmental and Sustainability Management Accounting Network, International Sustainability Accounting Symposium Measuring sustainability performance: bridging corporate and academic contributiions. In S. P. Irwin, Rodney, & Schaltegger (Eds.), The Environmental and sustainability Management Accounting Network (EMAN) and the centre for Sustainability Management (CSM) World (pp. 1–124). World Business Council For Sustainable Development (WBSCD). WBSCD.org
Zainuddin, Z., Andaresta Mananohas, O., & Akindutire, O. R. (2020). The Effect of Debt Policies, Profitability, Managerial Ownership Structure, and Liquidity on Dividend Policy. The Indonesian Journal of Accounting Research, 23(3), 412–425. https://doi.org/10.33312/ijar.483
Agustia, D., Sawarjuwono, T., & Dianawati, W. (2019). The mediating effect of environmental management accounting on green innovation - Firm value relationship. International Journal of Energy Economics and Policy, 9(2), 299–306. https://doi.org/10.32479/ijeep.7438
Al‐Najjar, B., & Anfimiadou, A. (2012). Environmental Policies and Firm Value. Business Strategy and the Environment, 21(1), 49–59. https://doi.org/10.1002/bse.713
Alabdullah, T. T. Y., & Zubon, Z. W. (2023). Do Investments and Independency Influence Firm Performance in Light of Performance Management: A Study in Kuwait. Marginal Journal of Management, Accounting, General Finance And International Economic Issues, 2(3), 645–661. https://doi.org/10.55047/marginal.v2i3.675
Alkurdi, A., Hamad, A., Thneibat, H., & Elmarzouky, M. (2021). Ownership structure’s effect on financial performance: An empirical analysis of Jordanian listed firms. Cogent Business & Management, 8(1), 1–21. https://doi.org/10.1080/23311975.2021.1939930
Bianchi, M., Valle, I. del, & Tapia, C. (2020). Measuring eco-efficiency in European regions: Evidence from a territorial perspective. Journal of Cleaner Production, 276, 123246. https://doi.org/10.1016/j.jclepro.2020.123246
Broadstock, D. C., Collins, A., Hunt, L. C., & Vergos, K. (2018). Voluntary disclosure, greenhouse gas emissions and business performance: Assessing the first decade of reporting. The British Accounting Review, 50(1), 48–59. https://doi.org/10.1016/j.bar.2017.02.002
Busch, T., & Friede, G. (2018). The Robustness of the Corporate Social and Financial Performance Relation: A Second‐Order Meta‐Analysis. Corporate Social Responsibility and Environmental Management, 25(4), 583–608. https://doi.org/10.1002/csr.1480
Carton, G., & Parigot, J. (2021). Resource-based view and natural Resources: Propositions for Sustainability. XXXème Conférence de l’AIMS, 1–18.
Choi, H., Han, I., & Lee, J. (2020). Value Relevance of Corporate Environmental Performance: A Comprehensive Analysis of Performance Indicators Using Korean Data. Sustainability, 12(17), 7209. https://doi.org/10.3390/su12177209
Czerny, A., & Letmathe, P. (2017). Eco‐efficiency: GHG reduction related environmental and economic performance. The case of the companies participating in the EU Emissions Trading Scheme. Business Strategy and the Environment, 26(6), 791–806. https://doi.org/10.1002/bse.1951
Daud, R., Meutia, I., & Yuniarti, E. (2023). Eco-Efficiency And Financial Performance: An Evidence From Indonesian Listed Company (Using The Emissions Intensity Approach). Jurnal Reviu Akuntansi Dan Keuangan, 13(1). https://doi.org/10.22219/jrak.v13i1.23337
Fahlevi, M., & Juhandi, N. (2019). The Impact of CGPI Award towards Financial Performance of LQ45 Firms. Proceedings of the 2nd International Conference on Inclusive Business in the Changing World, 555–561. https://doi.org/10.5220/0008433605550561
Fuadah, L. L., Mukhtaruddin, M., Andriana, I., & Arisman, A. (2022). The Ownership Structure, and the Environmental, Social, and Governance (ESG) Disclosure, Firm Value and Firm Performance: The Audit Committee as Moderating Variable. Economies, 10(12), 314. https://doi.org/10.3390/economies10120314
Kementerian Lingkungan Hidup dan Kehutanan. (2024). Peringatan HPSN 2024: Atasi Sampah Plastik Dengan Cara Produktif. PPID Kementerian Lingkungan Hidup Dan Kehutanan. https://ppid.menlhk.go.id/berita/siaran-pers/7610/peringatan-hpsn-2024-atasi-sampah-plastik-dengan-cara-produktif
Khatib, S. F. A., & Nour, A. N. I. (2021). The Impact of Corporate Governance on Firm Performance During The COVID-19 Pandemic: Evidence from Malaysia. Journal of Asian Finance, Economics and Business, 8(2), 0943–0952. https://doi.org/10.13106/jafeb.2021.vol8.no2.0943
Kurniati, S. (2019). Stock returns and financial performance as mediation variables in the influence of good corporate governance on corporate value. Corporate Governance: The International Journal of Business in Society, 19(6), 1289–1309. https://doi.org/10.1108/CG-10-2018-0308
Li, Y., Li, M., & Sang, P. (2022). A bibliometric review of studies on construction and demolition waste management by using CiteSpace. Energy and Buildings, 258, 111822. https://doi.org/10.1016/j.enbuild.2021.111822
Limijaya, A., Hutagaol-Martowidjojo, Y., & Annisa, S. (2021). Corporate governance award and performance of Indonesian LQ45 firms. IOP Conference Series: Earth and Environmental Science, 729(012136), 1–10. https://doi.org/10.1088/1755-1315/729/1/012136
Mahrani, M., & Soewarno, N. (2018). The effect of good corporate governance mechanism and corporate social responsibility on financial performance with earnings management as mediating variable. Asian Journal of Accounting Research, 3(1), 41–60. https://doi.org/10.1108/AJAR-06-2018-0008
Mukhtaruddin, M., Ubaidillah, U., Dewi, K., Hakiki, A., & Nopriyanto, N. (2019). Good Corporate Governance, Corporate Social Responsibility, Firm Value, and Financial Performance as Moderating Variable. Indonesian Journal of Sustainability Accounting and Management, 3(1), 55. https://doi.org/10.28992/ijsam.v3i1.74
Ningrum, O. W. S., & Sapari. (2021). Pengaruh Intellectual Capital, Kinerja Keuangan Dan Good Corporate Governance Terhadap Nilai Perusahaan. 1, 10(8), 1–23.
Undang-Undang (UU) Nomor 23 Tahun 1997 Tentang Pengelolaan Lingkungan Hidup, (1997). https://www.bphn.go.id/data/documents/97uu023.pdf
Peraturan Pemerintah (PP) Nomor 101 Tahun 2014 tentang Pengelolaan Limbah Bahan Berbahaya Dan Beracun, (2014). https://peraturan.bpk.go.id/Details/5555/pp-no-101-tahun-2014
Pérez-Calderón, E., Pache-Durán, M., & Milanés-Montero, P. (2021). Inversión ecoeficiente: efectos sobre el desempeño económico y financiero de los grupos empresariales del Dow Jones Sustainability World Index. Revista de Contabilidad, 24(2), 220–230. https://doi.org/10.6018/rcsar.403061
Priharta, A., Gani, N. A., Munawaroh, A., & Ananto, T. (2023). Corporate Governance, Financial Performance and Macroeconomics: The Impact on Bank Profitability Information. Jurnal Kajian Akuntansi, 7(2), 220–236.
Ranjbari, M., Shams Esfandabadi, Z., Gautam, S., Ferraris, A., & Scagnelli, S. D. (2023). Waste management beyond the COVID-19 pandemic: Bibliometric and text mining analyses. Gondwana Research, 114, 124–137. https://doi.org/10.1016/j.gr.2021.12.015
Rizki, R. D. N., & Saad, B. (2023). Dampak Good Corporate Governance terhadap Kinerja Keuangan (Studi Empiris pada Perusahaan Perbankan yang Terdaftar di Bursa Efek Indonesia 2016-2018). Jurnal Keuangan Dan Perbankan, 18(1), 45. https://doi.org/10.35384/jkp.v18i1.331
Sabarani, V. F. (2022). Analisis Pengaruh Struktur Kepemilikan Institusional, Struktur Modal, dan Kinerja Keuangan Terhadap Nilai Perusahaan dengan Kebijakan Dividen Sebagai Variabel Intervening Pada Perusahaan Sub Sektor Property dan Real Estate di Bursa Efek Indonesia. Bisma.
Savino, M. M., & Shafiq, M. (2018). An extensive study to assess the sustainability drivers of production performances using a resource-based view and contingency analysis. Journal of Cleaner Production, 204, 744–752. https://doi.org/10.1016/j.jclepro.2018.08.191
Scarpellini, S., Marín-Vinuesa, L. M., Aranda-Usón, A., & Portillo-Tarragona, P. (2020). Dynamic capabilities and environmental accounting for the circular economy in businesses. Sustainability Accounting, Management and Policy Journal, 11(7), 1129–1158. https://doi.org/10.1108/SAMPJ-04-2019-0150
Schaltegger, S., Bennett, M., Burritt, R. L., & Jasch, C. (2008). Environmental Management Accounting (EMA) as a Support for Cleaner Production. In Eco-Efficiency in Industry and Science (pp. 3–26). https://doi.org/10.1007/978-1-4020-8913-8_1
Silvianti, S., Andriana, I., & Muthia, F. (2023). Pengaruh Corporate Governance Index terhadap Kinerja Keuangan Perusahaan. Al-Kharaj : Jurnal Ekonomi, Keuangan & Bisnis Syariah, 6(3), 1371–1394. https://doi.org/10.47467/alkharaj.v6i3.3777
Sistem Informasi Pengelolaan Sampah Nasional (SIPSN) Kementerian Lingkungan Hidup dan Kehutanan (KLHK). (2023). Timbulan Sampah. SIPSN KLHK. https://sipsn.menlhk.go.id/sipsn/public/data/timbulan
Sudha, S. (2020). Corporate environmental performance–financial performance relationship in India using eco-efficiency metrics. Management of Environmental Quality: An International Journal, 31(6), 1497–1514. https://doi.org/10.1108/MEQ-01-2020-0011
Suh, Y., Seol, H., Bae, H., & Park, Y. (2014). Eco‐efficiency Based on Social Performance and its Relationship with Financial Performance. Journal of Industrial Ecology, 18(6), 909–919. https://doi.org/10.1111/jiec.12167
Tam, L., Thi Mai Anh, N., & Kam Hien, P. (2019). Environmental Management Accounting and Performance Efficiency in the Vietnamese Construction Material Industry—A Managerial Implication for Sustainable Development. Sustainability, 11(19), 5152. https://doi.org/10.3390/su11195152
Wang, R., & Wu, C. (2020). Politician as venture capitalist: Politically-connected VCs and IPO activity in China. Journal of Corporate Finance, 64, 101632. https://doi.org/10.1016/j.jcorpfin.2020.101632
Widarjono, A. (2018). Ekonometrika Pengantar dan Aplikasinya Disertai Panduan Eviews (UPP STIM YKPN (ed.); 5th ed.).
World Business Council For Sustainable Development. (2015). Environmental and Sustainability Management Accounting Network, International Sustainability Accounting Symposium Measuring sustainability performance: bridging corporate and academic contributiions. In S. P. Irwin, Rodney, & Schaltegger (Eds.), The Environmental and sustainability Management Accounting Network (EMAN) and the centre for Sustainability Management (CSM) World (pp. 1–124). World Business Council For Sustainable Development (WBSCD). WBSCD.org
Zainuddin, Z., Andaresta Mananohas, O., & Akindutire, O. R. (2020). The Effect of Debt Policies, Profitability, Managerial Ownership Structure, and Liquidity on Dividend Policy. The Indonesian Journal of Accounting Research, 23(3), 412–425. https://doi.org/10.33312/ijar.483
Published
2024-08-31
Section
Articles
Copyright (c) 2024 Muhammad Tri Luthfillah, Isni Andriana, Abdul Bashir
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
