The effect of environmental performance and CSR on financial performance of manufacturing companies in Indonesia
Harwidhea Dewantari Putri ORCID ↗ · Muhammad Miqdad ORCID ↗ · Agung Budi Sulistiyo ORCID ↗
International Journal of Research in Business and Social Science · 2020 · Vol. 9 / Issue 6 · 50-57
Publication metrics
External links open provider records or DOI searches. Provider counts are not combined. Mendeley readership measures saves, not citations.
Dimensions
Live provider badge. If unavailable, use the Dimensions link above.
Observed 21 Oct 2026, 07:22 UTC
Observed 22 Oct 2026 01:19 UTC
Observed 22 Oct 2026 01:19 UTC
OpenAlex and Mendeley observations refresh on article visits, at most once per 24 hours. Unavailable data is not zero. Google Scholar opens a DOI search.
Citations received by this article, grouped by the year of the citing work. Crossref and OpenAlex lifetime totals remain separate in Publication metrics.
2017–2026 Annual history last updated:
Citations received
OpenAlex · year of the citing work
Hover over a year or focus the chart and use arrow keys to inspect values.
2017–2026 annual-history window. 2026 is year to date. Unknown years have gaps.
View data & coverage
2026 is incomplete. Within a successfully fetched ten-year window, omitted years mean zero. Years beyond a saved observation’s window remain unknown (—). Older citations are excluded, so this chart’s sum may differ from the OpenAlex lifetime total. The date above belongs to this annual history; an unsuccessful refresh keeps the previous observation.
Abstract
This study aims to analyze the effect of environmental performance and Corporate Social Responsibility (CSR) on financial performance and its impact on market reactions in manufacturing companies listed on Proper 2014-2018. The research method uses path analysis with the SPSS 22 as many as 39 companies listed on the Indonesia Stock Exchange in 2014-2018 with Purposive Sampling. The results showed that environmental performance had no significant effect on financial performance. CSR has no significant effect on financial performance. environmental performance has no significant effect on market reaction. CSR has no significant effect on market reactions. financial performance has a significant effect on market reaction
Keywords: {'name': 'ROA'}, {'name': 'Abnormal Return'}, {'name': 'Profitability'}, {'name': 'Company Performance'}
Authors & affiliations
Harwidhea Dewantari Putri
Affiliation not supplied
Muhammad Miqdad
Affiliation not supplied
Agung Budi Sulistiyo
Affiliation not supplied
Deposited references
Supplied references, not a list of publications citing this article.
DOI: 10.24843/EJA.2018.v23.i03.p10
Azizah, Dewi, N., & Amanah, L. (2014). Pengaruh Kinerja Keuangan Terhadap Reaksi Pasar Pada Perusahaan Perbankan. Jurnal Ilmu & Riset Akuntansi. 3(2): 1-17.
DOI: 10.30737/ekonika.v1i2.11
Basri M. C. Lima Catatan dalam Potret Ekonomi Indonesia 2014-2018", https://katadata.co.id/opini/2019/09/10/lima-catatan-dalam-potret-ekonomi-indonesia-2014-2018
Bhernadha, Y. A. T., & Azizah, Devi,. (2017). Pengaruh Corporate Social Responsibility Terhadap Kinerja Keuangan Perusahaan (Studi Pada Perusahaan Winner Of Sustainability Reporting Award (Sra) 2015 Yang Terdaftar Di Pt Bei Periode 2010-2014). Jurnal Administrasi Bisnis (JAB).44 (1): 134-143.
DOI: 10.21831/economia.v13i2.13961
Fitriani, A. (2013). Pengaruh Kinerja Lingkungan Dan Biaya Lingkungan Terhadap Kinerja Keuangan Pada BUMN. Jurnal Ilmu Manajemen. 1 (1): 137-148.
Ikhwal, Nl. (2016). Analisis Roa Dan Roe Terhadap Profitabilitas Bank Di Bursa efek Indonesia. Al Masraf: Jurnal Lembaga Keuangan dan Perbankan. 1 (2): 221-227. http://dx.doi.org/10.15548/al-masraf.v1i2.57.
Jogiyanto. (2009). Teori Portofolio dan Analisis Investasi. Yogyakarta: BPFE.
Kurniawan, I. S., & Yasha, E. (2016). Reaksi pasar Dan Kinerja Keuangan Perusahaan Sebelum Dan Sesudah Pengumuman Right Issue Pada Perusahaan Yang Melakukan Right Issue Di Bursa Efek Indonesia. Jurnal Manajemen, 8 (2): 2085-6911. 2016 ISSN print:, ISSN online: 2528-1518.
Maharani, S. N. (2012). Kandungan Informasi Laba Bersih Dan Arus kas terhadap Reaksi perubahan Return Saham. Jurnal Keuangan dan Perbankan, 16(1). Hal: 86–98.
Muchti, N. U. C. & Widyaningsih, A. (2014). Pengaruh Kinerja Lingkungan Terhadap Reaksi Investor Melalui Pengungkapan Sustainability Report (Pada Perusahaan Manufaktur dan Pertambangan Yang Terdaftar di BEI). Fokus Ekonomi. 9 (1): 81 – 9.
Priana, G.D.P. (2012). Pengaruh PBV, DER, EPS, DPR, dan ROA terhadap harga saham (Studi empiris pada perusahaan food and baverage yang terdaftar di BEI). Thesis. Jakarta: Universitas Gunadarma.
DOI: 10.21831/nominal.v4i2.8002
Rafianto, R. A. (2015). Pengaruh Pengungkapan Corporate Social Responsibility dan Kinerja Lingkungan Terhadap Kinerja keuangan (Studi pada Sektor Pertambangan di Bursa Efek Indonesia pada Periode 2010-2012). e-Proceeding of Management. 2 (1): 497. ISSN : 2355-9357.
Riduwan, & Kuncoro, E.A. 2007. Cara Menggunakan dan dan Memakai Analisis Jalur (Path Analysis). Bandung: Alfabeta.
Ruspandi, H., & Asma, R. (2014). Faktor-faktor yang Mempengaruhi Profitabilitas Perusahaan Pembiayaan Di Indonesia. Jurnal Wawasan Manajemen, 2(1). 97-118.
Suhendro, D. (2017). Analisis Profitabilitas dan Likuiditas Untuk Menilai Kinerja Keuangan Pada Pt Siantar Top Tbk. Human Falah. 4 (2): 218-235.
Tunggal, W. S. P., & Fachrurrozie. (2014). Pengaruh Environmental Performance, Environmental Cost dan CSR Disclosure Terhadap Financial Performance. AAJ (Acounting Analysis Journal). 3(3): 310-320.
Wijaya, M. (2012). Faktor-faktor Yang MempengaruhI Pengungkapan Tanggung JAWAB Sosial Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia. Jurnal Ilmiah Mahasiswa Akuntansi. Vol. 1(1): 26-30.
Yaparto, Marissa, Dianne, Frisko K., Eriandani, Rizky. (2013). Pengaruh Corporate Social Responsibility Terhadap Kinerja Keuangan Pada Sektor Manufaktur Yang Terdaftar Di Bursa Efek Indonesia Pada Periode 2010-2011. Calyptra: Jurnal Ilmiah Mahasiswa Universitas Surabaya.2 (1): 1-19.