Does Gender Diversity Moderate The Relationship Between Social Responsibility to Corporate Performance and Reputation Sharia Companies?

Happy Sista Devy, Versiandika Yudha Pratama, Fatima Zahra Fakir, Nada Nuzulul Ariqotul'ula

Abstract


Purpose: The purpose of this study is to analyze the effect of corporate social responsibility (CSR) on firm value and corporate reputation with gender diversity as a moderating variable in Indonesia and Malaysia.

Design/methodology: The method used is a verification method using E-views tools using normality test, model test, regression test and MRA test for moderation testing. The population in this study were included in IDX-MES BUMN 17 and companies included in FTFBHMS. Determination of the sample using purposive sampling, 12 companies in Indonesia and 10 companies in Malaysia were obtained.

Findings: The results showed that in sharia companies in Indonesia CSR has a positive and significant effect on firm value and corporate reputation. However, gender diversity is not able to moderate the effect of CSR on firm value and corporate reputation. Different results in the research sample of Islamic companies in Malaysia show a significant positive effect on CSR on firm value and corporate reputation but gender diversity is able to moderate the effect of CSR on firm value and corporate reputation. The greater the gender diversity within the company in important positions can increase the effect of CSR on firm value and corporate reputation. The better companies disclose their CSR, the better the company's reputation will be and can increase the company's value.

Practical implications: This study provides evidence that CSR disclosure can improve firm performance and reputation. The findings also provide insight to companies and investors that gender diversity is important because it can increase the influence between CSR and company performance and reputation. The weak role of female directors may make the effect insignificant.

Originality/Value: This research extends the study of corporate performance and reputation, and expands its influence with the moderating variable gender diversity. This study explains the link with stakeholder theory and legitimacy theory on performance, corporate reputation, CSR and gender diversity


Keywords


CSR, Corporate Reputation, Return on Asset (ROA), Gender Diversity

Full Text:

PDF

References


A, Yosua & Herlin, T. (2022). Pengaruh Pemangku Kepentingan dan Pemegang Saham Terhadap Kualitas Laporan Berkelanjutan. Jurnal Paradigma Akuntansi IV(3), 1312–1321.

Ahmadin, A., Pinem, D., Bahtiar, D., Hanika, I. M., Sofyan, H., & Jejen, A. (2023). Faktor-Faktor Yang Mempengaruhi Keputusan Investasi ESG (Environmental, Social, And Governance. Innovative: Journal Of Social Science Research, 3(6).

Aisanafi, Y. (2022). Pengaruh Pengungkapan CSR terhadap Nilai Perusahaan: Gender Diversity sebagai Variabel Moderasi. E-Jurnal Akuntansi Universitas Udayana, vol 3(3), 723–738.

Akbar, M., & Juliarto, A. (2023). Keragaman Gender Dewan Direksi Memoderasi Pengaruh Pengungkapan Corporate Social Responsibility Terhadap Kinerja Keuangan (Studi Kasus pada Perusahaan Non-Keuangan yang Terdaftar di Bursa Efek Indonesia Tahun 2018-2021). Diponegoro Journal of Accounting, 12(4).

Aldama, R. A., Herwiyanti, E., & Sri Rejeki, K. (2021). Peran Mediasi Reputasi Pada Hubungan Pengungkapan Csr Terhadap Profitabilitas Bank Di Asean Dari Perspektif Green Banking. Jurnal Bisnis Dan Akuntansi, 23(1), 49–64. https://doi.org/10.34208/jba.v23i1.775

Anazonwu, H. O., Egbunike, F. C., & Gunardi, A. (2018). Corporate Board Diversity and Sustainability Reporting : A Study of Selected Listed Manufacturing Firms in Nigeria. Indonesian Journal of Sustainability Accounting and Management, 2(1), 65–78. https://doi.org/10.28992/ijsam.v2i1.52

Angelia, D., & Suryaningsih, R. (2015). The Effect of Environmental Performance And Corporate Social Responsibility Disclosure Towards Financial Performance (Case Study to Manufacture, Infrastructure, And Service Companies That Listed At Indonesia Stock Exchange). Procedia - Social and Behavioral Sciences, 211(September), 348–355. https://doi.org/10.1016/j.sbspro.2015.11.045

Armaviria, K. E. (2023). Indeks Kesenjangan Gender di negara ASEAN. Good Stats. https://data.goodstats.id/u/elmaarmavillia

Astuti, T. N., Mursalim, M., & Kalsum, U. (2020). Corporate Social Responsibility Terhadap Nilai Perusahaan Dengan Profitabilitas Sebagai Variabel Intervening. Akmen Jurnal Ilmiah, 17(4).

Bebbington, J., Larrinaga, C., Moneva, J. M., & Bebbington, J. (2008). Corporate social reporting and reputation risk management. Emerald Insight, 21(3), 337–361. https://doi.org/10.1108/09513570810863932

Bingham, J. B., Jr, W. G. D., & Adams, G. L. (2011). A Stakeholder Identity Orientation Approach to Corporate Social Performance in Family Firms. 565–566. https://doi.org/10.1007/s10551-010-0669-9

Butar, W. A. B., Gaol, M. B. L., & Manurung, A. (2024). Pengaruh Corporate Social Responsibility (CSR) terhadap Kinerja Keuangan Perusahaan (Studi Empiris pada Perusahaan Manufaktur Sub Sektor Makanan dan Minuman yang Terdaftar di Bursa Efek Indonesia Periode 2020 – 2022). Akademik, 4(1). https://www.ojs.pseb.or.id/index.php/jmeb/article/view/700

Cahyaningtyas, S. R., Isnaini, Z., & Ramadhani, R. S. (2022). Green Corporate Social Responsibility: Green Innovation Dan Nilai Perusahaan. Jurnal Aplikasi Akuntansi, 6(2).

Chen, J., Leung, W. S., & Goergen, M. (2017). This paper investigates whether female independent directors are more likely to impose high. Journal of Corporate Finance. https://doi.org/10.1016/j.jcorpfin.2017.01.001

Dawson, J. F. (2014). Moderation in Management Research: What, Why, When, and How. Journal of Business and Psychology.

Geng, L., Cui, X., Nazir, R., & Binh An, N. (2022). How do CSR and perceived ethics enhance corporate reputation and product innovativeness? Economic Research-Ekonomska Istrazivanja , 35(1), 5131–5149. https://doi.org/10.1080/1331677X.2021.2023604

Harakeh, M., Leventis, S., El Masri, T., & Tsileponis, N. (2023). The moderating role of board gender diversity on the relationship between firm opacity and stock returns. British Accounting Review, 55(4), 101145. https://doi.org/10.1016/j.bar.2022.101145

Hartmann, C. C., & Carmenate, J. (2021). Does board diversity influence firms’ corporate social responsibility reputation? Social Responsibility Journal, 17(8), 1299–1319. https://doi.org/10.1108/SRJ-04-2020-0143

Javeed, S. A., Latief, R., Cai, X., San Ong, T., Qian, S., & Haq, A. U. (2022). What is the role of the board sustainable committee for corporate social responsibility? The moderating effect of gender diversity and ownership concentration. Journal of Cleaner Production, 379, 134710. https://doi.org/10.1016/j.jclepro.2022.134710

Kahloul, I., Sbai, H., & Grira, J. (2022). Does Corporate Social Responsibility reporting improve financial performance? The moderating role of board diversity and gender composition. The Quarterly Review of Economics and Finance, 84.

Kamatra, N., & Kartikaningdyah, E. (2015). Effect corporate social responsibility on financial performance. International Journal of Economics and Financial Issues, 5(2013), 157–164.

Krisdatana, K., & Nuraya, A. S. (2022). Pengaruh Keragaman Gender Direksi dan Komisaris terhadap Return on Assets pada perusahaan.

Lindwati, A., & Puspit, Ma. E. (2015). Corporate Social Responsibility: Implikasi Stakeholder dan Legitimacy Gap dalam Peningkatan Kinerja Perusahaan. Jurnal Akuntansi Multiparadigma, 2(1), 89–109. https://doi.org/10.18202/jamal.2015.04.6013

M, L. (2023). Pengaruh Green Accounting, Green Intellectual Capital Dan Pengungkapan Corporate Responbility Social Terhadap Nilai Erusahaan. Jurnal Ekonomi Trisakti, 3(2).

Maden, C., Arıkan, E., Telci, E. E., & Kantur, D. (2012). Linking Corporate Social Responsibility to Corporate Reputation: A Study on Understanding Behavioral Consequences. Procedia - Social and Behavioral Sciences, 58, 655–664. https://doi.org/10.1016/j.sbspro.2012.09.1043

Masarat, S., & Imani, A. (2020). The Study of the Effect of Social Responsibility on Organizational Reputation with an attention on the Mediator of Social Trust (A study Of The City of Bam Utomoil Factury Modiran Khodro Company). Public Management Researches, 12(46), 227–254. https://jmr.usb.ac.ir/article_5263.html

Melo, T., & Galan, J. (2011). Effects of CSR on brand value. Jpurnal of Brand Management.

Moloi, T., & Al, E. (2020). The legitimacy theory and the legitimacy gap. Artificial Intelligence in Economics and Finance Theories.

Najaf, R., Chin, A., Chin, A., Najaf, K., & Thuraisingham, J. (2024). Women on board and business performance. Foresight. https://doi.org/10.1108/FS-10-2023-0217

Nguyen, N. T. T., Nguyen, N. P., & Thanh Hoai, T. (2021). Ethical leadership, corporate social responsibility, firm reputation, and firm performance: A serial mediation model. Heliyon, 7(4), e06809. https://doi.org/10.1016/j.heliyon.2021.e06809

Ningsih, N., Alimuddin, Nagu, N., & Madein, A. (2022). The Effect of Corporate Social Responsibility on Return on Assets, Return on Equity, and Net Profit Margin: Study of Food and Beverage Sub-Sector Companies Listed in the Indonesia Stock Exchange, 2016-2021. European Journal of Business and Management Research, 7(6), 297–303. https://doi.org/10.24018/ejbmr.2022.7.6.1759

Paul. (2013). Doing Statistical Mediation and Moderation.

Pérez, A., Santamaria, E. K., & Al, E. (2017). Employment Relations : Determinants and Consequences. BMC Public Health, 5(1), 1–8.

Post, C., & Byron, K. (2015). Women on Boards and Firm Financial Performance: A Meta-Analysis. Academy of Management Journal, 58(5), 1546–1571. https://doi.org/10.5465/amj.2013.0319

Purwantini, A. H., Putri, I. D. R., & Waharini, F. M. (2021). Pengaruh Keberagaman Gender, Usia, dan Kebangsaan terhadap Kinerja Keuangan Perusahaan. ACE: Accounting Research Journal, 1(1).

Ratnaningtyas, H., & Nurbaeti, N. (2023). Pengaruh Good Corporate Governance and Corporate Social Responbility Terhadap Return Saham Melalui Return on Asset Pada Perusahaan Restoran. Jurnal Ekonomi Pembangunan STIE Muhammadiyah Palopo, 9(2).

Santoso, E. B., & Ismawati, A. F., Laturette, K. (2021). Tinjauan Tanggung Jawab Sosial Perusahaan:: Studi Di Malaysia. Deeppublish.

Shafqat, M., & Ayub, H. (2022). Corporate Social Responsibility and Financial Performance in the Manufacturing Sector in Pakistan: Moderating Role Gender Diversity of Board. Journal of Accounting and Finance in Emerging Economies, 8(1), 189–200. https://doi.org/10.26710/jafee.v8i1.2259

Šontaitė-Petkevičienė, M. (2015). CSR Reasons, Practices and Impact to Corporate Reputation. Procedia - Social and Behavioral Sciences, 213, 503–508. https://doi.org/10.1016/j.sbspro.2015.11.441

Suhairi, S., Safitri, D., Fauzan, M., & Musyafa, M. H. (2023). Etika Dan Tanggung Jawab Sosial Dalam Pemasaran Global: Membangun Reputasi Yang Berkelanjutan. Jurnal Minfo Polgan, 12(2).

Tan, K. L., Ho, J. M., P. R., & Goveravaram, A. D. (2022). Doing good does you good? The financial impact of individual CSR dimensions: A Malaysian context. Social Responsibility Journal, 18(1).

Wilyandi, W., Arisandi, D., & Wahyuni, E. S. (2023). Analisis Leverage dan Profitabilitas Terhadap Nilai Perusahaan (Studi Pada PT. Bank Panin Dubai Syariah Periode 2016-2020). Al-Intaj : Jurnal Ekonomi Dan Perbankan Syariah, 9(1), 34. https://doi.org/10.29300/aij.v9i1.7145




DOI: http://dx.doi.org/10.29300/aij.v10i2.4281

DOI (PDF): http://dx.doi.org/10.29300/aij.v10i2.4281.g4056

Refbacks

  • There are currently no refbacks.


Copyright (c) 2024 Happy Sista Devy

Creative Commons License
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Abstracting and Indexing by: