(Faculty of Economics and Business, Universitas Lampung, Bandar Lampung, Indonesia)
(2) Ernie Hendrawaty
(Faculty of Economics and Business, Universitas Lampung, Bandar Lampung, Indonesia)*Corresponding author
AbstractThis research investigates the influence of Corporate Social Responsibility (CSR) on firms’ financial performance and explores the moderating effects of Ownership Concentration (OC), Ownership Balance (OB), and Ownership Type (OT) within Indonesian mining companies. Adopting a quantitative research design, the study utilizes secondary data derived from annual and sustainability reports of mining firms listed on the Indonesia Stock Exchange. Corporate financial performance is proxied by Return on Assets (ROA), while CSR is assessed through the extent of CSR disclosure. Data analysis is conducted using multiple regression techniques, including moderated regression analysis. The empirical findings reveal that CSR exerts a positive and statistically significant impact on financial performance, indicating that greater CSR disclosure and implementation are associated with higher ROA. The results further show that Ownership Concentration diminishes the positive effect of CSR on financial performance, implying that controlling shareholders may emphasize short-term objectives, thereby limiting the strategic benefits of CSR initiatives. Ownership Balance enhances the relationship between CSR and financial performance by promoting stronger oversight and improved corporate governance. Ownership Type does not serve as a significant moderating variable, suggesting that the CSR–financial performance relationship does not differ between state-owned and non-state-owned enterprises. The findings highlight that while CSR contributes to improved financial outcomes, its impact is contingent upon the firm’s ownership structure. This study offers valuable insights for policymakers and corporate leaders in formulating governance arrangements and CSR policies that foster long-term corporate sustainability.
KeywordsCorporate Social Responsibility; Corporate Financial Performance; Ownership Concentration; Ownership Balance; Ownership Type; Mining Companies
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DOIhttps://doi.org/10.33122/ejeset.v6i2.1331 |
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