Eviatiwi Kusumaningtyas Sugiyanto
Universitas Islam Sultan Agung

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Model Peningkatan Return Saham Dan Kinerja Keuangan Melalui Corporate Social Responsibility Dan Good Corporate Governance Di Bursa Efek Indonesia Mutamimah Mutamimah; Sri Hartono; Eviatiwi Kusumaningtyas Sugiyanto
Jurnal Manajemen Teori dan Terapan | Journal of Theory and Applied Management Vol. 4 No. 1 (2011): Jurnal Manajemen Teori dan Terapan - April 2011
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (312.262 KB) | DOI: 10.20473/jmtt.v4i1.2408

Abstract

The purpose of this research was to find an empiric proof and analysis that stock return and financial performance of the companies could be improved through Corporate Social Responsibility (CSR) and Good Corporate Governance (GCG) at The Indonesian Capital Market. Populations of this research are companies that go public at Indonesia Capital Market. Technic Sampling used purposive sampling, and finds 62 companies. These companies then were divided into two categories according to its total assets. From its, 31 samples categorized as big companies, while others as small companies. And the hypotheses were tested using Structural Equation Modeling (SEM) with Partial Least Square (PLS) program. The result showed that (1) CSR had a significant positive effect towards stock return in big companies categorized, while small companies categorized had a significant negative effect of it, (2) GCG had no significant effect towards stock return in both categories, (3) Financial performance had no significant effect towards stock return in big companies categorized, but it had a positive significant effect towards it in those small, (4) CSR had a significant positive effect towards financial performance in big companies categorized, whereas in small companies it could not be found, (5) GCG had no significant effect towards financial performance in both categories, (6) as well as the GCG had no significant effect towards CSR in both categories.