Article Per Year (5 Year)
p-Index From 2021 - 2026
0.408
P-Index
This Author published in this journals
All Journal Inkubis: Jurnal Ekonomi dan Bisnis Glosains: Jurnal Sains Global Indonesia
Sahat Parlindungan Simarmata
Universitas Trisakti
Economics, Econometrics & Finance

Published : 2 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 2 Documents
Search

 1 
Symbolic CSR, Stakeholder Engagement, and Financial Performance: Evidence from Indonesian Mining Firms (2016–2020) Sahat Parlindungan Simarmata
Inkubis : Jurnal Ekonomi dan Bisnis Vol. 8 No. 2 (2026): INKUBIS Jurnal Ekonomi Dan Bisnis
Publisher : Politeknik Siber Cerdika Internasional

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59261/inkubis.v8i2.326

Abstract

Background: This study examines why CSR disclosure is associated with lower short-term accounting performance in the Indonesian mining sector after POJK 51/2017, drawing on stakeholder, agency, and institutional decoupling theories, with decoupling as the primary explanation. Objective: This study tests whether IC mediates the CSR–financial performance relationship, challenging the assumption that IC automatically transforms CSR into performance gains. Methods: A balanced panel of 44 out of 47 eligible IDX-listed mining firms (2016–2020; N = 139 firm-years; three firms excluded due to delisting or incomplete disclosures) was estimated using a fixed-effects model, selected over pooled OLS and random-effects models based on Chow and Hausman tests (chi-square = 58.05; p < 0.001).  Results: CSR disclosure demonstrates a large and significant negative association with ROA (β = −0.969; p = 0.0018), remaining robust across five sensitivity checks, while IC (VAIC) emerges as the dominant positive driver of FP (β = +0.967; p < 0.001). Ownership concentration and board size show no robust effects, while IC does not mediate the CSR–FP relationship. This pattern, cautiously labeled the CSR Penalty, contributes by (i) documenting a substantial negative CSR effect among emerging-market extractive firms, (ii) refining the IC missing-link thesis by showing that IC is a strong direct but non-mediating driver, and (iii) linking these findings to the initial reporting cycle of POJK 51/2017.  Conclusion: The findings confirm a CSR Penalty and non-mediating role of IC among Indonesian mining firms in 2016–2020, with conclusions limited to this sector and regulatory period.
Greenwashing di Era Hilirisasi: Kualitas Pengungkapan ESG, Symbolic Compliance, dan Kinerja Keuangan Perusahaan Pertambangan Indonesia Sahat Parlindungan Simarmata
Glosains: Jurnal Sains Global Indonesia Vol. 7 No. 3 (2026): Glosains: Jurnal Sains Global Indonesia
Publisher : Sekolah Tinggi Agama Islam Kuningan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59784/glosains.v7i3.804

Abstract

Latar belakang: Sejak 2020, kebijakan hilirisasi Indonesia mereposisi sektor pertambangan sebagai motor industri strategis sekaligus memperbesar eksternalitas lingkungan-sosial dan tekanan pengungkapan Environmental, Social, and Governance (ESG) pada perusahaan ekstraktif. Tujuan: Penelitian ini menguji apakah kualitas — bukan sekadar kuantitas — pengungkapan ESG berdampak pada kinerja keuangan, apakah greenwashing memperlemah hubungan tersebut, dan apakah kejutan hilirisasi memoderasi penalti greenwashing. Metode: Menggunakan panel seimbang 44 perusahaan pertambangan di Bursa Efek Indonesia 2016–2024 (396 observasi firm-year), disusun Disclosure Breadth Index (DBI) dari 92 item POJK 51/2017, GRI, dan SASB Metals & Mining (Cohen’s κ = 0,83) serta Greenwashing Severity Index (GSI) yang mengukur gap antara narasi pengungkapan dan kinerja lingkungan terverifikasi, diestimasi dengan fixed-effects, two-stage least squares, dan system-GMM. Hasil: Disclosure breadth saja tidak memprediksi kinerja keuangan, sedangkan pengungkapan berkualitas tinggi (ESGQ) berhubungan positif signifikan. Greenwashing berpengaruh negatif signifikan terhadap kinerja keuangan, dan penalti ini menguat pasca-hilirisasi, terutama pada perusahaan nikel dan batubara dengan keterhubungan politis. Kesimpulan: Penelitian ini memperkenalkan GSI terkalibrasi untuk konteks ekstraktif Indonesia, mengoperasionalkan decoupling theory pada level kualitas pengungkapan, dan menawarkan kerangka diagnostik bagi regulator (OJK, KESDM, KLHK), auditor, penyedia assurance, dan kurator indeks ESG.
Co-Authors