Pengungkapan Tanggung Jawab Sosial Perusahaan Dan Nilai Perusahaan: Perusahaan Keluarga Dan Non-Keluarga
Keywords:
Nilai Perusahaan, Pengungkapan Tanggung Jawab Sosial Perusahaan, Perusahaan Keluarga.
Abstract
Penelitian ini bertujuan untuk menguji dan menganalisis pengaruh pengungkapan tanggung jawab sosial terhadap nilai perusahaan, pada perusahaan keluarga dan non-keluarga. Pengambilan sampel dalam penelitian ini menggunakan teknik purposive sampling dan diperoleh 159 sampel selama tahun 2010-2017 dari perusahaan lintas industri (kecuali perusahaan sumber daya alam dan keuangan) yang terdaftar di Bursa Efek Indonesia. Teknik analisis yang digunakan dalam penelitian ini yaitu analisis regresi berganda. Hasil penelitian menunjukkan bahwa pengungkapan tanggung jawab sosial pada perusahaan keluarga (family firm) tidak memberikan dampak terhadap nilai perusahaan, karena pada perusahaan keluarga memiliki sedikit motivasi untuk memberikan informasi terperinci terkait dengan kebijakan sosial dan lingkungan, selain itu konflik kepentingan antara pemilik dan manajer cenderung tidak muncul dalam bisnis yang dikendalikan keluarga daripada di perusahaan non-keluarga. Pada perusahaan non-keluarga (non-family firm) pengungkapan tanggung jawab sosial mampu meningkatkan nilai perusahaan, dikarenakan informasi tanggung jawab sosial merupakan elemen yang dapat digunakan perusahaan untuk mengelola atau merespon berbagai pemangku kepentingan untuk mendapatkan dukungan dan persetujuan pihak-pihak terkait.
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[38] Nekhili, M., Nagati, H., Chtioui, T., & Rebolledo, C. (2017). Corporate Social Responsibility disclosure and market value: Family versus nonfamily firms. Journal of Business Research, 77, 41-52.
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[40] Ong, T. S., & Gan, S. (2013). Do Family-Owned Banks Perform Better? A Study of Malaysian Banking Industry. Asian Social Science, 9(7), 124-135.
[41] Orbaningsih, D. (2018). Pengungkapan tanggung jawab sosial: Determinan dan
[42] dampaknya terhadap nilai perusahaan. Disertasi. Universitas Brawijaya. Malang.
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[44] Primady, G. R., & Wahyudi, S. (2015). Pengaruh corporate social responsibility
[45] dan profitabilitas terhadap nilai perusahaan dengan kepemilikan manajerial sebagai variabel pemoderasi. Diponegoro Journal of Management, 4(3), 1-15
[46] Putro, V. P. S. U., & Mildawati, T. (2017). Pengaruh corporate social responsibility terhadap nilai perusahaan dengan profitabilitas sebagai variabel moderating. Jurnal ilmu dan riset akuntansi, 6(7), 1-16.
[47] Qiu, Y., Shaukat, A., & Tharyan, R. (2016). Environmental and Social Disclosures: Link with Corporate Financial Performance. The British Accounting Review, 48(1), 102-116.
[48] Rosiana, G. A., Juliarsa, G., & Sari, M. M. (2013). Pengaruh pengungkapan CSR
[49] terhadap nilai perusahaan dengan profitabilitas sebagai variable pemoderasi. E-Jurnal Akuntansi Universitas Udayana, 5(3), 723-738.
[50] Shinduja, P. (2009). Performance and Value Creation: Family Managed Business Versus Non-Family Managed Business. The IUP Journal of Business Strategy, 6(3), 66-80.
[51] Shyu, J. (2011). Family ownership and firm performance: evidence from Taiwanese firms. International Journal of Managerial Finance, 7(4), 397-441.
[52] Silitonga, A. D. D., & Juniarti. (2017). Struktur kepemilikan keluarga dan kinerja perusahaan pada sektor industri dasar dan kimia. Business Accounting Review, 5(2), 757-766.
[53] Siregar, S. V., & Utama, S. (2008). Type of earnings management and the effect of ownership structure, firm size, and corporate-governance practices: Evidence from Indonesia. The International Journal of Accounting, 43(1), 1-27.
[54] Stanley, L. J., & McDowell, W. (2013). The role of interorganizational trust and organizational efficacy in family and nonfamily firms. Journal of Family Business Strategy, 5(3), 264-275.
[55] Thesman, C., & Juniarti. (2014). Pengaruh Family Control Terhadap Profitabilitas dan Nilai Perusahaan Pada Sektor Pertanian. Business Accounting Review, 2(1), 190-199.
[56] Wardhani, R. S. (2013). Pengaruh CSR Disclosure terhadap nilai perusahaan dengan kinerja keuangan sebagai variabel intervening (studi kasus perusahaan manufaktur yang terdaftar di BEI). Jurnal Ekonomi Akuntansi dan Manajemen, 12(1), 54-86.
[57] Westhead, P., & Howorth, C. (2006). Ownership and Management Issues Associated with Family Firm Performance and Company Objectives. Family Business Review, 19(4), 301-316.
[58] Wibowo, S., Yokhebed, & Tampubolon, L. D. (2016). Pengaruh CSR disclosure dan GCG terhadap nilai perusahaan dengan kinerja keuangan sebagai variabel intervening di perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia. Prosiding Seminar Nasional Multi Disiplin Ilmu & Call for Papers Unisbank, 926-935.
[59] William. (2012). Pengaruh pengungkapan corporate responsibility berdasarkan pedoman reporting initiative terhadap nilai perusahaan. Tesis. Universitas Indonesia. Jakarta.
[60] Xu, X., Wang, X., N Han. (2012). Accounting Conservatism, Ultimate Ownership and Investment Efficiency. China Finance Review International, 2(1), 53-77.
[61] Yammeesri, J., & Lodh, D. C. (2004). Is Family Ownership Pain or Gain to Firm Performance. Journal of American Academy of Business, 4, 263-270.
[62] Yao, S., Wang, J., & Song, L. (2013). The Determinants of Corporate Social Responsibility Disclosure: Evidence From China. Journal of Applied Business Research, 29(6), 1833-1848.
[63] Zellweger, T. M., Kellermanns, F. W., Eddleston, K. A., & Memili, E. (2012).
[64] Building a family firm image: How family firms capitalize on their family ties.
[65] Journal of Family Business Strategy, 3(4), 239-250.
[2] Andres, C. (2008). Family Ownership as the Optimal Organizational Structure?.
[3] European Finance Association Meeting in Zurich, 1-34
[4] Anjarwati, K., Chabachib, M. & Demi, I. R. (2016). Pengaruh profitabilitas, size,
[5] dan likuiditas terhadap nilai Perusahaan manufaktur di indonesia dengan
[6] struktur modal Sebagai variabel intervening. Diponegoro journal of finance.
[7] Astriani, E. F. (2014). Pengaruh Kepemilikan Manajerial, Leverage, Profitabilitas, Ukuran Perusahaan dan Investment Opportunity Set Terhadap
[8] NilaiPerusahaan. Tesis. Universitas Negeri Padang, Padang
[9] Baek, J. S., Kang, J. K., & Park, K. S. (2004). Corporate governance and firm value: evidence from the Korean financial crisis. Journal of Financial Economics, 71(2), 265-313.
[10] Ballesteros, B. C., Ariza, L. R., & Sanchez, I. M. (2015). The role of independent directors at family firms in relation to corporate social responsibility disclosures. International Business Review, 24(5), 890-901.
[11] Buchanan, B., Cao, C. X., & Chen, C. (2018). Corporate social responsibility, firm value, and influential institutional ownership. Journal of Corporate Finance, 52, 73-95.
[12] Cabeza-Garcia, L., Sacristan-Navarro, M., dan Gomez-Anson, S. (2017). Family Involvement and Corporate Social Responsibility Disclosure. Journal of Family Business Strategy, 6, 1-14.
[13] Cecilia., R. S. & Torong, M. Z. (2015). Analisis pengaruh corporate social responsibility, profitabilitas dan ukuran perusahaan terhadap nilai perusahaan pada perusahaan perkebunan yang go public di Indonesia, Malaysia, dan Singapura. Universitas Sumatra Utara.
[14] Cennamo, C., Berrone, P., Cruz, C., & Gomez-Mejia, L. (2012). Socioemotional wealth and proactive stakeholder engagement: Why family-controlled firms care more about their stakeholders. Entrepreneurship Theory and Practice, 36(6), 1153-1173.
[15] Clarkson, M. B. (1995). A Stakeholder Framework for Analyzing and Evaluating Corporate Social Performance. The Academy of Management Review, 20(1), 92-117.
[16] CNBC Indonesia. (2018). Telkom Kehilangan Nilai Kapitalisasi Pasar Rp 42,34 T.
[17] https://www.cnbcindonesia.com/market/20180228142421-175778/telkomkehilangan-nilai-kapitalisasi-pasar-rp-4234-t.
[18] Christensen, J. P., Kent, J. R., & Stewart, J. (2015). Do Corporate Governance Recommendations Improve the Performance and Accountability of Small Listed Companies?. Accounting and Finance, 55(1), 133-164
[19] Deniz , M. C., & Suarez, K. C. (2005). Corporate Social Responsibility and Family
[20] Business in Spain. Journal of Business Ethics, 56(1), 27-41
[21] Dhaliwal, D. S., Radhakhrisnan, S., Tsang, A., & Yang, Y. G. (2012). Nonfinancial disclosure and analyst forecast accuracy: international evidence on
[22] corporate social responsibility disclosure. The Accounting Review, 87(3), 723-759.
[23] Gama, A. P., & Galvao, J. M. (2012). Performance, valuation and capital structure: survey of family firms. Corporate Governance: The international journal of business in society, 12(2), 199-214.
[24] Gray, R., Kouhy, R., & Lavers, S. (1995). Corporate social and environmental reporting A review of the literature and a longitudinal study of UK disclosure. Accounting, Auditing & Accountability Journal, 8(2), 47-77.
[25] Handajani, L., Subroto, B., Sutrisno, & Saraswati, E. (2014). Are Indonesian Corporates Really Ethical? Exploring Corporate Governance and Corporate Social Responsibility Linkage. International Jurnal of Business and Behavioral Sciences, 4(5), 1-10.
[26] Harijono., Tanewski, G. (2012). Does Legal Transplantation Work? The Case of Indonesian Corporate Governance Reforms. Journal of Indonesian Economics and Business, 27(1), 73-97.
[27] Jo, H., & Harjoto, M. A. (2011). Corporate Governance and Firm Value: The Impact of Corporate Social Responsibility. Journal of Business Ethics, 103(3), 351–383.
[28] Lulseged, V. I. (2013). Does family status impact US firms' sustainability reporting? Sustainability Accounting, Management and Policy Journal, 4(2), 163-189.
[29] Mahatma, D., Ayu, S., & Wirajaya, A. (2013). Pengaruh Struktur Modal,
[30] Profitabilitas dan Ukuran Perusahaan pada Nilai Perusahaan. EJurnal Akuntansi Universitas Udayana, 4(2), 358-372
[31] Maquieira, C. P., Espinosa, C. E., & Vieito, J. P. (2011). Corporate Performance
[32] and Ownership Structure: Empirical Evidence for Chile. Journal of Finance
[33] and Accounting, 50(1), 75-96.
[34] Mardiyati, U. (2016). Pengaruh Frekuensi Rapat Dewan Direktur dan Jumlah Direktur Perempuan terhadap Kinerja Perbankan. Jurnal Ekonomi dan
[35] Keuangan, 20(80), 172–187
[36] Miller, D., Breton‐Miller, L., & Scholnick, B. (2008). Stewardship vs. stagnation: An empirical comparison of small family and non‐family businesses. Journal of Management Studies, 45(1), 51–78.
[37] Morck, R., & Yeung, B. (2004). Family Control and the Rent-Seeking Society. Entrepreneurship Theory and Practice, 28(4), 391-409.
[38] Nekhili, M., Nagati, H., Chtioui, T., & Rebolledo, C. (2017). Corporate Social Responsibility disclosure and market value: Family versus nonfamily firms. Journal of Business Research, 77, 41-52.
[39] Nurlela, R., & Islahuddin. (2008). Pengaruh corporate social responsibility terhadap nilai perusahaan dengan prosentase kepemilikan manajemen sebagai variabel moderating: Studi empiris pada perusahaan yang terdaftar di bursa efek jakarta. Simposium Nasional Akuntansi XI (pp. 1-25). Pontianak: Universitas Tanjung Pura.
[40] Ong, T. S., & Gan, S. (2013). Do Family-Owned Banks Perform Better? A Study of Malaysian Banking Industry. Asian Social Science, 9(7), 124-135.
[41] Orbaningsih, D. (2018). Pengungkapan tanggung jawab sosial: Determinan dan
[42] dampaknya terhadap nilai perusahaan. Disertasi. Universitas Brawijaya. Malang.
[43] PricewaterhouseCoopers. (2014). Survey Bisnis Keluarga-Indonesia. https://www.pwc.com/id/en/publications/asets/indonesia-report-family business survey-2014.pdf.
[44] Primady, G. R., & Wahyudi, S. (2015). Pengaruh corporate social responsibility
[45] dan profitabilitas terhadap nilai perusahaan dengan kepemilikan manajerial sebagai variabel pemoderasi. Diponegoro Journal of Management, 4(3), 1-15
[46] Putro, V. P. S. U., & Mildawati, T. (2017). Pengaruh corporate social responsibility terhadap nilai perusahaan dengan profitabilitas sebagai variabel moderating. Jurnal ilmu dan riset akuntansi, 6(7), 1-16.
[47] Qiu, Y., Shaukat, A., & Tharyan, R. (2016). Environmental and Social Disclosures: Link with Corporate Financial Performance. The British Accounting Review, 48(1), 102-116.
[48] Rosiana, G. A., Juliarsa, G., & Sari, M. M. (2013). Pengaruh pengungkapan CSR
[49] terhadap nilai perusahaan dengan profitabilitas sebagai variable pemoderasi. E-Jurnal Akuntansi Universitas Udayana, 5(3), 723-738.
[50] Shinduja, P. (2009). Performance and Value Creation: Family Managed Business Versus Non-Family Managed Business. The IUP Journal of Business Strategy, 6(3), 66-80.
[51] Shyu, J. (2011). Family ownership and firm performance: evidence from Taiwanese firms. International Journal of Managerial Finance, 7(4), 397-441.
[52] Silitonga, A. D. D., & Juniarti. (2017). Struktur kepemilikan keluarga dan kinerja perusahaan pada sektor industri dasar dan kimia. Business Accounting Review, 5(2), 757-766.
[53] Siregar, S. V., & Utama, S. (2008). Type of earnings management and the effect of ownership structure, firm size, and corporate-governance practices: Evidence from Indonesia. The International Journal of Accounting, 43(1), 1-27.
[54] Stanley, L. J., & McDowell, W. (2013). The role of interorganizational trust and organizational efficacy in family and nonfamily firms. Journal of Family Business Strategy, 5(3), 264-275.
[55] Thesman, C., & Juniarti. (2014). Pengaruh Family Control Terhadap Profitabilitas dan Nilai Perusahaan Pada Sektor Pertanian. Business Accounting Review, 2(1), 190-199.
[56] Wardhani, R. S. (2013). Pengaruh CSR Disclosure terhadap nilai perusahaan dengan kinerja keuangan sebagai variabel intervening (studi kasus perusahaan manufaktur yang terdaftar di BEI). Jurnal Ekonomi Akuntansi dan Manajemen, 12(1), 54-86.
[57] Westhead, P., & Howorth, C. (2006). Ownership and Management Issues Associated with Family Firm Performance and Company Objectives. Family Business Review, 19(4), 301-316.
[58] Wibowo, S., Yokhebed, & Tampubolon, L. D. (2016). Pengaruh CSR disclosure dan GCG terhadap nilai perusahaan dengan kinerja keuangan sebagai variabel intervening di perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia. Prosiding Seminar Nasional Multi Disiplin Ilmu & Call for Papers Unisbank, 926-935.
[59] William. (2012). Pengaruh pengungkapan corporate responsibility berdasarkan pedoman reporting initiative terhadap nilai perusahaan. Tesis. Universitas Indonesia. Jakarta.
[60] Xu, X., Wang, X., N Han. (2012). Accounting Conservatism, Ultimate Ownership and Investment Efficiency. China Finance Review International, 2(1), 53-77.
[61] Yammeesri, J., & Lodh, D. C. (2004). Is Family Ownership Pain or Gain to Firm Performance. Journal of American Academy of Business, 4, 263-270.
[62] Yao, S., Wang, J., & Song, L. (2013). The Determinants of Corporate Social Responsibility Disclosure: Evidence From China. Journal of Applied Business Research, 29(6), 1833-1848.
[63] Zellweger, T. M., Kellermanns, F. W., Eddleston, K. A., & Memili, E. (2012).
[64] Building a family firm image: How family firms capitalize on their family ties.
[65] Journal of Family Business Strategy, 3(4), 239-250.
Published
2023-12-16
How to Cite
Pratiwi, W. and Suandi, S. (2023) “Pengungkapan Tanggung Jawab Sosial Perusahaan Dan Nilai Perusahaan: Perusahaan Keluarga Dan Non-Keluarga”, Jurnal Ilmiah Hospitality, 12(2), pp. 475-488. doi: 10.47492/jih.v12i2.2932.
Section
Articles
