Pengaruh CSR, Technology dan CEO Education Terhadap Profitabilitas Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia
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Dec 7, 2023
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Abstract
Penelitian ini bertujuan untuk mengetahui pengaruh CSR, Technology dan CEO Education terhadap Profitabilitas perusahaan. Sampel yang digunakan dalam penelitian ini adalah perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia (BEI) periode 2017 – 2022. Variabel independen dalam penelitian ini adalah CSR, Technology, CEO Education dan variable dependenya adalah Profitabilitas perusahaan. Jumlah sampel penelitian adalah sebanyak 26 perusahaan manufaktur dengan menggunakan purposive sampling. Hasil empiris dari penelitian ini menggunakan program eviews 9 dengan regresi data panel. Berdasarkan hasil regresi data panel menunjukkan bahwa Technology memiliki pengaruh terhadap Profitabilitas perusahaan, sedangkan CSR dan CEO Education tidak memiliki pengaruh terhadap Profitabilitas perusahaan. . Hasil penelitian ini diharapkan dapat menjadi acuan bagi perusahaan dan investor untuk meningkatkan Profitabilitas perusahaan.
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FawwazE. (2023). Pengaruh CSR, Technology dan CEO Education Terhadap Profitabilitas Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia. Reslaj : Religion Education Social Laa Roiba Journal, 6(3), 1813-1828. https://doi.org/10.47467/reslaj.v6i3.5723
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References
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Anthony, A., Bosede, A. A. and Michael, A. 2020. Corporate Social Responsibility and Financial Performance : Evidence From U.S Tech Firms. Journal of Cleaner Production. 292 (1) : 2-10
Antonio, D. and George, F. 2007. Management Control Systems in Early‐Stage Startup Companies. 82 (4) : 1-30.
Amitava, M. and Santanu, K. G. 2012. Intellectual capital and financial performance of Indian banks. Journal of Intellectual Capital. 13 (10) : 1-13.
Ana B, T, P., HoKyun, S., Younghwan, L. and Chang, W, L,. 2020. Relationship among CSR Initiatives and Financial and Non - Financial Corporate Performance In the Education Banking Environment. Journal Sustainability. 21 (2) : 1 - 15.
Aparna, B. and Khusboo, A. 2018. Impact of investment in intangible assets on corporate performance in India. International Journal of Law and Management. 60 (9) : 1-12.
Alex, C., Rekha, R. and Federico, T. 2011. Growth processes of Italian manufacturing firms. Structural Change and Economic Dynamics. 22 (9) : 1-16.
Ba, A. and Ahmad, Z. 2012. The Determinants of Capital Structure of Qatari Listed Companies. International Journal of Academic Research in Accounting, Finance and Management Sciences. 2 (2) : 1-14.
Chih, F. T., Yu, H. L. and David, C. y. 2012. Determinats of Intangible Assets value : The Data Mining Approach. Journal of Knowledge Based system. 31 (2) : 1-10.
Chih, W. L., Wei, P. T., Su, S. L. and Tso, Y. M. 2021. Is The Improvement Of CSR Helpful in Business Perfromance ?. Journal Hindawi. 9 (10) : 1-8.
Chris, R. C. 2008. A Study of the Relationship Between Firm Performance and CEO Compensation in the U.S. Commercial Banking Industry. Journal of Applied Management and Entrepreneurship. 13 (4) : 1-19.
Daniel, J. S. and Heather, R. D. F. 2017. The Future of The Planet in The hands of MBA : An Examination of CEO MBA Education and Corporate Environmental Perfomance. Academy of Management Learning & Education. 9 (11) :
Dian, M. D. 2013. CSR Effect in Market and Financial Performance. Journal of Financial. 1 (7) : 2-17.
Dimitrious, M., Dimitrious, C., Charalampos, T. and Georgios, T. 2011. The impact of intellectual capital on firms' market value and financial performance. Journal of Intellectual Capital. 12 (1) : 1-16.
E.V. Khlinin and N. I. korovkina. 2022. Information And Communication Technologies in The Management Of Fixed Assets of The Enterprise. Russian Management Journal. 20 (4) : 1-14.
Goel, U. and Sharma, A. K. 2015. Working Capital Management Efficiency in Indian Manufacturing Sector : Trends and Determinands. International Journal of Economics and Business Research. 10 (1) : 30-45.
Hai, L. N. and Pengda, F. 2022. CEO Education and Firm Perfromance : Evidence From Corporate Universities. Journal of Administrative Sciences. 12 (10) : 1-14.
Ika, D. A. A. and Loggar, B. 2020. Reputasi CEO Terhadap Keberlangsungan Usaha Perusahaan. Jurnal Akutansi Unesa. 8 (1) : 1-8.
Ike. C. E. and Kingsley, O. 2010. The effect of R&D investment on firm value: An examination of US manufacturing and service industries. International Journal of Production Economics. 128 (11) : 1-9.
Ismail, K. and Abdulkadir, B. 2021. The Role of Sales Growth in Determining the Effect of Operating Leverage on Financial Performance: The Case of Turkey. The Journal of Accounting and Finance. 91 (7) : 1-11.
Jossep, G. B., Josep, M. A. B. and Diego, R. 2019. Exploring The Reltionship Between CEO Characteristic and Performance. Journal of Business Economics and Management. 20 (4) : 1-18.
Judita, A., Dalia, S. and Kristina, R,. 2022. The Impact of Social Responbility on Corporate Financial Performance in The Energy Sector : Evidence From Lithunia. Journal of Corporate Social Responbility and Environmental Management. 14 (7) : 2-14.
King, T., Srivastav, A. and Williams, J. 2016. What’s In An Education ? Implications Of CEO Education For Bank. Journal Of Corporate Finance. 37 (4) : 2-35.
Krisztina, S., Yahya. And Csaba, L. 2020. Corporate Social Responsibility and Financial Perfomance : Evidence from Pakistani Listed Banks. 12 (5) : 1-18.
Marco, C. and Cristina, B. 2015. Business models, intangibles and firm performance: evidence on corporate entrepreneurship from Italian manufacturing SMEs. Small Bus Econ. 10 (2) : 1-19.
Mohammed, M. T. and K. V., Thomas. 2021. The Impact of Web Marketing on CSR and Firms’ Performance. Rajagiri Management Journal. 17 (1) : 1-12.
Mohammed, M. and Yusheng, K. 2019. Leverage and Financial Performance : The Corelational Approach. International Journal for Innovative Research in Multidiciolinary field. 5 (4) : 1-7.
Mai, D. T. and Samuel, A. 2020. How CEO Social Capital Drives Corporate Social Perfromance : The Roles of Stakeholders and CEO Tenure. Journal of Corporate Social Responbility and Environmental Management. 1 (11) : 1-9.
Njun, Z. 2017. Relationship Between Intangible Assets and Financial Perfomance of Listed Telecommunication Firms in China, Based on Empirical Analysis. African Journal of Business Management. 1 (12) : 1-6.
Okoro, A.V.,Paago, L., and Celestine, A.E. 2022. Human Resource Cost and Financial Performance : Evidence From Listed Pharmaceutical Companies in Nigeria. European Journal of Accounting, Finance and Investment. 8 (5) : 1–6.
Puspitasari, N. M. D. and Faruk, M. 2019. Pengaruh Likuiditas dan Struktur Modal Terhadap Profitiabilitas. Journal Business Management and Entrepreneurship. 1 (3) : 74-90.
Riny. 2018. Analisis Faktor - factor Yang Mempengaruhi Nilai Perusahaan Pada Perusahaan Consumer Goods Yang Terdaftar di Bursa Efek Indoenesia. JWEM SITE MIKROSKILL. 8 (2) : 139-150.
Rahmat, S. and Lila, G. 2018. CEO Education, Karakteristik Perusahaan dan Kinerja Perusahaan. Jurnal Ilmu Manajemen. 2 (9) : 1-8.
Rindu, R. G. 2015. The Effet of Intangible Asset, Financial Perfromance and Financial Policies On The Firm Value. International Journal of Scientific & Technology Research. 4 (1) : 1-9.
Sarah, T., Najmudin. And Rio, D. L. 2023. The Important Evidence of Leverage in Mediating the Effect of Sales Growth and Capital Intensity on Profitability. Journal of Management and Social Sciences. 2 (2) : 200 - 217.
Shafat, M., and Mohammed, N. Z. 2018. Corporate Social Responsibility and Financial Performance: An Empirical Analysis of Indian Banks. Future Business Journal. 4 (6) : 1-18.
Sang, J. C., Chune. Y. C. and Jason, Y. 2019. Study on the Relationship between CSR and Financial Performance. Journal of Sustainability. 11 (1) : 1-21.
Saoussen, B. and Hassouna, F. 2011. The effects of intangible investments on future OCF. Journal of Intellectual Capital. 12 (10) : 1-13.
Suchetta, N. and Pol, H. 2017. CEO Personality, Strategic Flexibility, and Firm Performance: The Case of the Indian Business Process Outsourcing Industry. Academy of Management Journal. 53 (11) : 1-20.
Sri, L. P. 2021. Effect of Working Capital Turnover, Leverage and Sales Growth on Profitability of Consumption Industry Companies in IDX. 25 (5) : 1-11.
Steven, H. A., Rafael, C., Dany, D. and Lisa, H. 2017. The Challenges of Organizational Agility. Journal Of Industrisal and Commercial Training. 49 (1) : 6-14.
Samuel, K. O., George, A. and Amos, N. 2016. Relating Company Size and Financial Performance in Agriculturl Firms Listed in The Nairobi Securities Exchange in Kenya. International Journal of Economics and Finance. 8 (9) : 1-6.
Sam, A. and Kathleen A., F. 2000. The Effect CEO Tenure on The Relation Between Firm Perfomance and Turnover. Journal of Financial Research. 23 (3) : 1-19.
Sanjai, B., Brian. J. B. and Ajay, S. 2010. CEO Education, CEO Turnover, and Firm Performance. (9) : 1-48.
Tiago, V., Denis, F.and Leonardo, F. C. B. 2019. The Impact of Intangibles of german, English and Portuguese companies : From 1999 to 2016. Strategic Finance. 20 (4) : 2-33.
Timothy, K., Abhishek, S. and Jonathan, W. 2016. What's in an education? Implications of CEO education for bank performance. Journal of Corporate Finance. 37 (4) :1-20.
Telly, B. R. and Ansori, M. 2019. Effect Of Size and Cash Conversion Cycle On Company Profitability. Journal of Applied Managerial Accounting. 3 (1) : 155-165.
Ullah, G. M. Zahid, A. and Islam, M. N. 2018. Working Capital Management and SME Profitability : Empirical Evidence From Bangladesh. Global Journal of Management and Business. 5 (2) : 94-99.
Utomo, S. D., Meylinasari, V. and Machmuddah, Z. 2017. Biaya CSR : Voluntary Disclosure, Investasi dan Sinyal. Jurnal Bisnis dan Ekonomi (JBE). 24 (1) : 15-23.
Wafa, G. 2022. Corporate Sustainbility and Firm Perfomance : The Moderating Role of CEO Education and Tenure. International Journal of Sustainability. 14 (3) : 1-16.
Xian, C. junyon, I. and imarn, S. 2021. A meta Analysis of The Relation Between Chief Executive Officer Tenure and Firm Financial Performance : The Moderating Effects of Chief Executive Officer pay and Board Monitoring. Journal of group and Organization Management. 46 (3) : 2-26.
Yurika dan Viriany. 2019. Pengaruh Profitabilitas, Leverage, Liquiditas dan Ukuran PerusahaanTerhadap Pengungkapan CSR. Jurnal Multiparadigma Akutansi. 1 (3) : 703-711.
Yu-En, L. A., Yi-Wen, L. B., Teng, Y. C. C. and Keith, L. D. 2021. Corporate social responsibility and investment efficiency: Does Business Strategy Matter?. International Review of Financial Analysis. 73 (1) : 1-61.
Yongtae, K., Sadok, E. G. and Omrane, G. 2017. Country-level institutions, firm value, and the role of corporate social responsibility initiatives. Journal of International Business Studies. 1 (4) : 1-26.
Wajid, A., Amjad, A. and Amna, S. M. 2022. The Impact of Leverage on the Firm Performance: A Case of Fertilizers Sector of Pakistan. Munich Personal RePEc Archive. (7) : 2-13.
Zhang, R. and Guan, H. 2010. An Empirical Test of the Impact of Intangible Assets on Enterprise
Performance of Chinese Social Services Listed Companies. Proceedings of the 7th International Conference on Innovation & Management. : 1-4
Adhitya, A. P. 2021.The Effect of CEO Characteristics on Pre – Earnings Management Profitability. Jurnal Akutansi dan Keuangan Indoenesia. 18 (2) : 2-26
Akinleye and Fautina, T. A. 2018. The Effect Of Corporate Social Responsibility on The Return On Assets of Multinational Companies in Nigeria. Journal of Financial and Accounting. 9 (6) : 1-7.
Anthony, A., Bosede, A. A. and Michael, A. 2020. Corporate Social Responsibility and Financial Performance : Evidence From U.S Tech Firms. Journal of Cleaner Production. 292 (1) : 2-10
Antonio, D. and George, F. 2007. Management Control Systems in Early‐Stage Startup Companies. 82 (4) : 1-30.
Amitava, M. and Santanu, K. G. 2012. Intellectual capital and financial performance of Indian banks. Journal of Intellectual Capital. 13 (10) : 1-13.
Ana B, T, P., HoKyun, S., Younghwan, L. and Chang, W, L,. 2020. Relationship among CSR Initiatives and Financial and Non - Financial Corporate Performance In the Education Banking Environment. Journal Sustainability. 21 (2) : 1 - 15.
Aparna, B. and Khusboo, A. 2018. Impact of investment in intangible assets on corporate performance in India. International Journal of Law and Management. 60 (9) : 1-12.
Alex, C., Rekha, R. and Federico, T. 2011. Growth processes of Italian manufacturing firms. Structural Change and Economic Dynamics. 22 (9) : 1-16.
Ba, A. and Ahmad, Z. 2012. The Determinants of Capital Structure of Qatari Listed Companies. International Journal of Academic Research in Accounting, Finance and Management Sciences. 2 (2) : 1-14.
Chih, F. T., Yu, H. L. and David, C. y. 2012. Determinats of Intangible Assets value : The Data Mining Approach. Journal of Knowledge Based system. 31 (2) : 1-10.
Chih, W. L., Wei, P. T., Su, S. L. and Tso, Y. M. 2021. Is The Improvement Of CSR Helpful in Business Perfromance ?. Journal Hindawi. 9 (10) : 1-8.
Chris, R. C. 2008. A Study of the Relationship Between Firm Performance and CEO Compensation in the U.S. Commercial Banking Industry. Journal of Applied Management and Entrepreneurship. 13 (4) : 1-19.
Daniel, J. S. and Heather, R. D. F. 2017. The Future of The Planet in The hands of MBA : An Examination of CEO MBA Education and Corporate Environmental Perfomance. Academy of Management Learning & Education. 9 (11) :
Dian, M. D. 2013. CSR Effect in Market and Financial Performance. Journal of Financial. 1 (7) : 2-17.
Dimitrious, M., Dimitrious, C., Charalampos, T. and Georgios, T. 2011. The impact of intellectual capital on firms' market value and financial performance. Journal of Intellectual Capital. 12 (1) : 1-16.
E.V. Khlinin and N. I. korovkina. 2022. Information And Communication Technologies in The Management Of Fixed Assets of The Enterprise. Russian Management Journal. 20 (4) : 1-14.
Goel, U. and Sharma, A. K. 2015. Working Capital Management Efficiency in Indian Manufacturing Sector : Trends and Determinands. International Journal of Economics and Business Research. 10 (1) : 30-45.
Hai, L. N. and Pengda, F. 2022. CEO Education and Firm Perfromance : Evidence From Corporate Universities. Journal of Administrative Sciences. 12 (10) : 1-14.
Ika, D. A. A. and Loggar, B. 2020. Reputasi CEO Terhadap Keberlangsungan Usaha Perusahaan. Jurnal Akutansi Unesa. 8 (1) : 1-8.
Ike. C. E. and Kingsley, O. 2010. The effect of R&D investment on firm value: An examination of US manufacturing and service industries. International Journal of Production Economics. 128 (11) : 1-9.
Ismail, K. and Abdulkadir, B. 2021. The Role of Sales Growth in Determining the Effect of Operating Leverage on Financial Performance: The Case of Turkey. The Journal of Accounting and Finance. 91 (7) : 1-11.
Jossep, G. B., Josep, M. A. B. and Diego, R. 2019. Exploring The Reltionship Between CEO Characteristic and Performance. Journal of Business Economics and Management. 20 (4) : 1-18.
Judita, A., Dalia, S. and Kristina, R,. 2022. The Impact of Social Responbility on Corporate Financial Performance in The Energy Sector : Evidence From Lithunia. Journal of Corporate Social Responbility and Environmental Management. 14 (7) : 2-14.
King, T., Srivastav, A. and Williams, J. 2016. What’s In An Education ? Implications Of CEO Education For Bank. Journal Of Corporate Finance. 37 (4) : 2-35.
Krisztina, S., Yahya. And Csaba, L. 2020. Corporate Social Responsibility and Financial Perfomance : Evidence from Pakistani Listed Banks. 12 (5) : 1-18.
Marco, C. and Cristina, B. 2015. Business models, intangibles and firm performance: evidence on corporate entrepreneurship from Italian manufacturing SMEs. Small Bus Econ. 10 (2) : 1-19.
Mohammed, M. T. and K. V., Thomas. 2021. The Impact of Web Marketing on CSR and Firms’ Performance. Rajagiri Management Journal. 17 (1) : 1-12.
Mohammed, M. and Yusheng, K. 2019. Leverage and Financial Performance : The Corelational Approach. International Journal for Innovative Research in Multidiciolinary field. 5 (4) : 1-7.
Mai, D. T. and Samuel, A. 2020. How CEO Social Capital Drives Corporate Social Perfromance : The Roles of Stakeholders and CEO Tenure. Journal of Corporate Social Responbility and Environmental Management. 1 (11) : 1-9.
Njun, Z. 2017. Relationship Between Intangible Assets and Financial Perfomance of Listed Telecommunication Firms in China, Based on Empirical Analysis. African Journal of Business Management. 1 (12) : 1-6.
Okoro, A.V.,Paago, L., and Celestine, A.E. 2022. Human Resource Cost and Financial Performance : Evidence From Listed Pharmaceutical Companies in Nigeria. European Journal of Accounting, Finance and Investment. 8 (5) : 1–6.
Puspitasari, N. M. D. and Faruk, M. 2019. Pengaruh Likuiditas dan Struktur Modal Terhadap Profitiabilitas. Journal Business Management and Entrepreneurship. 1 (3) : 74-90.
Riny. 2018. Analisis Faktor - factor Yang Mempengaruhi Nilai Perusahaan Pada Perusahaan Consumer Goods Yang Terdaftar di Bursa Efek Indoenesia. JWEM SITE MIKROSKILL. 8 (2) : 139-150.
Rahmat, S. and Lila, G. 2018. CEO Education, Karakteristik Perusahaan dan Kinerja Perusahaan. Jurnal Ilmu Manajemen. 2 (9) : 1-8.
Rindu, R. G. 2015. The Effet of Intangible Asset, Financial Perfromance and Financial Policies On The Firm Value. International Journal of Scientific & Technology Research. 4 (1) : 1-9.
Sarah, T., Najmudin. And Rio, D. L. 2023. The Important Evidence of Leverage in Mediating the Effect of Sales Growth and Capital Intensity on Profitability. Journal of Management and Social Sciences. 2 (2) : 200 - 217.
Shafat, M., and Mohammed, N. Z. 2018. Corporate Social Responsibility and Financial Performance: An Empirical Analysis of Indian Banks. Future Business Journal. 4 (6) : 1-18.
Sang, J. C., Chune. Y. C. and Jason, Y. 2019. Study on the Relationship between CSR and Financial Performance. Journal of Sustainability. 11 (1) : 1-21.
Saoussen, B. and Hassouna, F. 2011. The effects of intangible investments on future OCF. Journal of Intellectual Capital. 12 (10) : 1-13.
Suchetta, N. and Pol, H. 2017. CEO Personality, Strategic Flexibility, and Firm Performance: The Case of the Indian Business Process Outsourcing Industry. Academy of Management Journal. 53 (11) : 1-20.
Sri, L. P. 2021. Effect of Working Capital Turnover, Leverage and Sales Growth on Profitability of Consumption Industry Companies in IDX. 25 (5) : 1-11.
Steven, H. A., Rafael, C., Dany, D. and Lisa, H. 2017. The Challenges of Organizational Agility. Journal Of Industrisal and Commercial Training. 49 (1) : 6-14.
Samuel, K. O., George, A. and Amos, N. 2016. Relating Company Size and Financial Performance in Agriculturl Firms Listed in The Nairobi Securities Exchange in Kenya. International Journal of Economics and Finance. 8 (9) : 1-6.
Sam, A. and Kathleen A., F. 2000. The Effect CEO Tenure on The Relation Between Firm Perfomance and Turnover. Journal of Financial Research. 23 (3) : 1-19.
Sanjai, B., Brian. J. B. and Ajay, S. 2010. CEO Education, CEO Turnover, and Firm Performance. (9) : 1-48.
Tiago, V., Denis, F.and Leonardo, F. C. B. 2019. The Impact of Intangibles of german, English and Portuguese companies : From 1999 to 2016. Strategic Finance. 20 (4) : 2-33.
Timothy, K., Abhishek, S. and Jonathan, W. 2016. What's in an education? Implications of CEO education for bank performance. Journal of Corporate Finance. 37 (4) :1-20.
Telly, B. R. and Ansori, M. 2019. Effect Of Size and Cash Conversion Cycle On Company Profitability. Journal of Applied Managerial Accounting. 3 (1) : 155-165.
Ullah, G. M. Zahid, A. and Islam, M. N. 2018. Working Capital Management and SME Profitability : Empirical Evidence From Bangladesh. Global Journal of Management and Business. 5 (2) : 94-99.
Utomo, S. D., Meylinasari, V. and Machmuddah, Z. 2017. Biaya CSR : Voluntary Disclosure, Investasi dan Sinyal. Jurnal Bisnis dan Ekonomi (JBE). 24 (1) : 15-23.
Wafa, G. 2022. Corporate Sustainbility and Firm Perfomance : The Moderating Role of CEO Education and Tenure. International Journal of Sustainability. 14 (3) : 1-16.
Xian, C. junyon, I. and imarn, S. 2021. A meta Analysis of The Relation Between Chief Executive Officer Tenure and Firm Financial Performance : The Moderating Effects of Chief Executive Officer pay and Board Monitoring. Journal of group and Organization Management. 46 (3) : 2-26.
Yurika dan Viriany. 2019. Pengaruh Profitabilitas, Leverage, Liquiditas dan Ukuran PerusahaanTerhadap Pengungkapan CSR. Jurnal Multiparadigma Akutansi. 1 (3) : 703-711.
Yu-En, L. A., Yi-Wen, L. B., Teng, Y. C. C. and Keith, L. D. 2021. Corporate social responsibility and investment efficiency: Does Business Strategy Matter?. International Review of Financial Analysis. 73 (1) : 1-61.
Yongtae, K., Sadok, E. G. and Omrane, G. 2017. Country-level institutions, firm value, and the role of corporate social responsibility initiatives. Journal of International Business Studies. 1 (4) : 1-26.
Wajid, A., Amjad, A. and Amna, S. M. 2022. The Impact of Leverage on the Firm Performance: A Case of Fertilizers Sector of Pakistan. Munich Personal RePEc Archive. (7) : 2-13.
Zhang, R. and Guan, H. 2010. An Empirical Test of the Impact of Intangible Assets on Enterprise
Performance of Chinese Social Services Listed Companies. Proceedings of the 7th International Conference on Innovation & Management. : 1-4