Article Per Year (5 Year)
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All Journal Eksis: Jurnal Riset Ekonomi dan Bisnis journal of social and economic research
Muhammad Ja'far Shodiq
Universitas Islam Sultan Agung, Semarang
Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice

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WHEN DOES CSR AND INSTITUTIONAL OWNERSHIP CREATE VALUE? : (The Moderating Role of Financial Performance) Siti Nur Hidayati; Muhammad Ja'far Shodiq
Eksis: Jurnal Riset Ekonomi dan Bisnis Vol. 21 No. 1 (2026): April (2026) - September (2026)
Publisher : INSTITUT TEKNOLOGI DAN BISNIS PGRI DEWANTARA JOMBANG

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26533/eksis.v21i1.1684

Abstract

Introduction: Firm value has become a critical indicator of corporate sustainability and investor confidence, particularly in the basic materials sector, where business operations generate substantial environmental and social impacts. Despite extensive research, empirical findings regarding the effects of Corporate Social Responsibility (CSR) and institutional ownership on firm value remain inconclusive. This study investigates these relationships by examining the moderating role of financial performance while controlling for firm size. Method: This study employed a quantitative research design using secondary data collected from the annual and sustainability reports of manufacturing firms in the basic materials sector listed on the Indonesia Stock Exchange (IDX) during 2020–2024. Using purposive sampling, 80 firm-year observations were selected. The hypotheses were tested using Moderated Regression Analysis (MRA). Results: The findings indicate that CSR, institutional ownership, and firm size do not have a significant direct effect on firm value. However, financial performance significantly strengthens the relationship between CSR and firm value, whereas it does not moderate the relationship between institutional ownership and firm value. Discussion: These findings suggest that CSR contributes to firm value only when supported by strong financial performance. Conversely, institutional ownership alone is insufficient to enhance firm value, regardless of the firm's financial performance. This study enriches the literature on CSR, corporate governance, and firm value by providing evidence from Indonesia's basic materials sector and offers practical implications for managers and policymakers in promoting sustainable corporate practices and strengthening good corporate governance.
MAPPING SUSTAINABILITY RESEARCH: A MANAGEMENT CONTROL SYSTEMS PERSPECTIVE Muhammad Ja'far Shodiq; Rita Rosalina
Journal of Social and Economics Research Vol 7 No 2 (2025): JSER, December 2025
Publisher : Ikatan Dosen Menulis

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54783/jser.v7i2.936

Abstract

This study aims to map the development of scientific literature on Sustainability in Management Control Systems perspective during the period 2020-2025, with a total of 396 articles originating from 214 internationally indexed Scopus journals using a bibliometric approach based on data from Scopus. MCS is a management control system designed to support the effective implementation of sustainability strategies, integrating economic, social, and environmental aspects into business practices. The bibliometric method was chosen to analyze publication trends, collaboration patterns between authors and institutions, and key research themes developing in this field. Data were collected through keyword searches related to MCS and analysed using Bibliometric software in R Studio. The results of the analysis revealed that, although MCS publication productivity has shown fluctuations with a downward trend in recent years, academic interest in this topic remains high, with a significant average citation count. Countries such as China, Australia, and Indonesia are the main contributors to this study, with the level of international collaboration continuing to increase. Keyword findings and thematic maps show the primary focus of research on the relationship between management accounting, management control systems, environmental management, and sustainable development. In addition, issues such as emission control, risk management, and corporate governance are also essential parts of academic discourse related to MCS. This study contributes to clarifying the development trend of MCS science and identifying central themes and potential future research directions. The practical implications of this study can be a reference for companies and policymakers in designing more effective and sustainable control systems. This study also encourages further research development by expanding the database and integrating qualitative approaches to understand MCS implementation in a contextual context.
Co-Authors Rita Rosalina Siti Nur Hidayati