Denny Putri Hapsari, Denny Kurnia, Wiwin Arifin

Faktor-Faktor Yang Mempengaruhi Kinerja Keuangan: Studi Empiris Pada Perusahaan Di Indonesia

Introduction

Faktor-faktor yang mempengaruhi kinerja keuangan: studi empiris pada perusahaan di indonesia. Penelitian ini mengidentifikasi faktor yang mempengaruhi kinerja keuangan (ROE) perusahaan manufaktur di Indonesia. Ditemukan pertumbuhan penjualan & kinerja lingkungan berpengaruh signifikan.

Abstract

RETURN ON EQUITY AS A TOOL FOR MEASURING FINANCIAL PERFORMANCE AND INFLUENCE FACTORS: EMPIRICAL STUDY OF COMPANIES IN INDONESIA   Abstract The aim of this research is to identify variables that influence the financial performance of companies in Indonesia, especially manufacturing companies listed on the Indonesia Stock Exchange from 2019 to 2022. Green accounting, environmental performance, corporate social responsibility, and sales growth are variables. independent used. This research is quantitative because it uses secondary data. 26 companies were taken as samples during 4 years of observation, resulting in a total of 104 samples for research. The research results show by multiple linear regression analysis that sales growth and environmental performance greatly influence financial performance, which is measured through Return On Equity (ROE). In contrast, corporate social responsibility (CSR) and green accounting do not affect financial performance. Keywords: Green accounting; Environmental Performance; Corporate Social Responsibility (CSR) CSR; Sales Growth; Financial performance

Review

This paper investigates the critical factors influencing financial performance, specifically Return on Equity (ROE), within Indonesian manufacturing companies listed on the Indonesia Stock Exchange from 2019 to 2022. The research employs a quantitative methodology utilizing secondary data from a sample of 26 companies over four years, resulting in 104 observations. The clearly defined objective to identify key determinants of financial performance using ROE positions this study as a relevant contribution to understanding corporate financial dynamics in an emerging market context, especially given the contemporary timeframe. The study examines four independent variables: green accounting, environmental performance, corporate social responsibility (CSR), and sales growth. Through multiple linear regression analysis, the findings indicate a significant positive influence of sales growth and environmental performance on financial performance (ROE). Conversely, the research concludes that both corporate social responsibility and green accounting do not significantly impact financial performance. This particular finding, regarding the lack of influence from CSR and green accounting, is noteworthy and potentially counter-intuitive, offering an interesting point of discussion regarding the immediate financial returns on these initiatives within the studied context. A key strength of this study lies in its focused empirical approach using a well-established financial metric (ROE) and a recent dataset, providing timely insights into the specified sector. However, the abstract presents some limitations. The operationalization and measurement of "green accounting" and "environmental performance" are not detailed, which could affect the interpretation and robustness of these findings. Furthermore, while 104 samples are used, the base of 26 companies might be somewhat narrow for broad generalizations across the entire manufacturing sector. Future research could benefit from a more expansive sample, incorporating a wider range of industries or extending the observation period. It would also be valuable to explore the potential mediating or moderating factors that might explain the non-significant relationship between CSR/green accounting and financial performance, perhaps through qualitative approaches or alternative econometric models. Despite these considerations, the paper offers a valuable preliminary assessment of critical performance drivers.

Full Text

Comments

You need to be logged in to post a comment.