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Do Financial Performance and Corporate Social Responsibility Disclosure Matter to Investors? Evidence from the Indonesian Energy Sector Muliati, Muliati; Kasmawati, Kasmawati; Mayapada, Arung Gihna; Kamase, Haryono Pasang
AMCA Journal of Community Development Vol. 6 No. 1 (2026): AMCA Journal of Community Development
Publisher : AMCA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.51773/ajcd.v6i1.459

Abstract

This study examines the effect of financial performance measured through accounting profit and total asset turnover and corporate social responsibility (CSR) disclosure on the return of shares of energy sector companies listed on the Indonesia Stock Exchange from 2012 to 2023. Company size and leverage are included as control variables to obtain a more accurate estimate. Using 288 company year observations and applying quantum regression, the study provides a broader understanding of how explanatory variables behave at different levels of stock returns, especially in sectors known for their high capital intensity and exposure to commodity price fluctuations. These findings reveal that accounting earnings consistently have a positive and significant effect on stock returns at the 0.50 and 0.75 quantities, suggesting that profitability serves as a strong signal for investors, especially in companies with medium to high performance. In contrast, total asset turnover and CSR disclosures did not show significant effects across all quantiles, suggesting that operational efficiency and sustainability reporting are not key considerations for investors in the sector. The size of the company and leverage also did not show a significant influence, although their inclusion improved the quality of the model. Overall, the study highlights that investors in the energy sector respond to profitability indicators more strongly than information related to operations or sustainability.
Co-Authors -, Rampeng Abdul jalil Abdul Kahar Abdulllah, Muhammad Ikbal admin admin, admin Afrianti Afrianti, Afrianti Afriyani Afriyani Afriyani, Afriyani AKHMAD NOOR Ali, Marzuki Made ALIF, NUR MUHAMMAD Alim, Saskia S Ambo Upe Amelia, Mila Amin, Muh Agil Amir, Andi Mattulada Amiruddin, Muhammad Majdy Andi Bahri S Andi Bahri, Andi Andriansyah Andriansyah Angreani, Andi Vivit Annas, Alfian Antika, Rindi Anwar Anwar Anwar, Wahyu Mustika Ardiansyah, Faisal Aski Arfiah Busari Arianti, Melda Putri Arifanti, Dwi Risky Arista, Arista Artiyany, Megawhati Arung Gihna Mayapada Ashariana, Ashariana Asnawati Asnawati Asriani Asriani, Asriani Asriati Asriati, Asriati Assi, Maria Clara Virginia Asti Dwiyanti Astin, Astin Aulia, Silvi Auliansyah, Auliansyah Ayu, Sinar BAKRY, M.Iqbal Batau, ST. Haliah Bunga, Purnamasari Busa, Yunus Cahyana, Indra Cahyani, Asti Cantika, Zhalsabila Putri Damanik, Rodearni DAMIRAH DAMIRAH, DAMIRAH Darma, Darma Darmawati Darmawati Darpin, Darpin Dewi Purnamasari Dewintara, Eka Djaniba, Erlina Dona, Doni Roma Effendi, Aji Sofyan Emiliyati, Emiliyati Ernawati Ernawati Ernawaty Usman Fansury, Andi Hamzah Farda, Sella Fatmarida Sabani, Fatmarida Gaffar, Emmilya Umma Aziza Ginting, Isaharpika Br Gustia, Gustia Hadi Saputra Halmiah, Halmiah Hamid, Sundari Hammad, Hamza Abed Al Karim Hamsiah, Andi Hanafi, Ali Hannani Hapipah, Risdina Haris, Muhamad Hartono Hartono Haryono Pasang Kamase Hasanah, Hudriatul Hasniar Hasniar, Hasniar Hatta, Ulya Hendrian Hendrian, Hendrian Herlina, Besse Husnadian, Alfan I Ngurah Gede Verar Fujastawan Ibrahim Ibrahim Ilham Irwansyah Ilham, M. Imamah, Ayu Nur Imelda Putri Arianti Indah Indah Indra Indra Insarullah, Insarullah Irmawati Irmawati Irwan Gani Irwansyah, Ilham Isa Harpika Br. Ginting Islamul Haq Islamulhaq, Islamulhaq Jabar, Aryuni Salpian Jadi, Soliman Al Jalil, Ivon Jamaluddin Jamaluddin Jamilah, Sitti Janustisisa, Wina Jeti, La Julia I, Trigen Jumrah Jumrah Jumria Jumria Juri Naswa Nathania Kamal Zubair, Muhammad Kasim, Hermawaty Remba Khairul Anwar Khoiriah, Khifayatul Kusumayadi, Firmansyah Laela Latifah Sukmawati Yuniar Lestari, Andi Indah Lestari, Retno Oktavia Liato, Della Fitriany Lilies Lilies Lukman, Sri Hardianti Luneto, Abdul Razik Lusianai, Wa Ode Lutfin, Nursamsilis M, Ristifani Arista Maddolangeng, Nur Misyuari Mahmud, Usamah Mahsyar, Mahsyar Mahyus, Mahyus Manan, Manan Manuhutu, Fenty Yoseph MARCELLINA, Nelly Mardiana, Fani Margaretha Togatorop Marolop Parlindungan Napitu Mas'ud Muhammadiah Masmarulan, Masmarulan Masnur Masnur Masruddin Mattulada, Andi Mauliza, Riska Misnawati Misnawati Muhammad Din Muhammad Elwan, La Ode Muhammad Ilham Pakawaru Mulianah, Maedatul Muliati, Windi Mulyono, Ana Murbayani Murbayani, Murbayani Musafir, Musafir Musakkir , Musakkir Musmulyadi, Musmulyadi Musyarif Musyarif, Musyarif Muzaini, Muhammad Nadhar, Muhammad Nahak, Marthalena Erbin Napitu, Marolop Parlindungan Nasaruddin Nasaruddin Nina Yusnita Yamin Nofinda, Ayu NOPIANTI, NOPIANTI Norhaedah, Norhaedah Novalina Serdiati Noyo, Irfandi A. Nur Edy Nur Hidayah Nur Hikmah NUR, MUFLIHA Nurdin, Jurana Nurfadilla, Nurfadilla Nurfadillah Nurfadillah Nurfadillah, Siti Nurhayati Nurhayati Nurwijayanti Okto Irianto, Okto Oneng, Muthia Yogelina Pane, Sri Gustina Pare Datu, Virgina A. Parwati, Ni Made Suwitri Patmawati, Andi Kiki Pramudita Budi Rahayu, Pramudita Budi Pratama, Yulianda Dian Purba, Yeni Trisna Putra, L. M. Ricard Zeldi Putri, Amelia Hamdani Putri, Andini Yulianto PUTRI, EVA NORHYA AKHMAR RAMADHAN R, Masmarulan Rahayu Indriasari Rahman, Nasrul Restele, La Ode Restu Januarty Hamid Rianti, Rianti Ridwan, Ridwan Riski, Lestari Riswani Riswani Rodearni Damanik Rosdiana Rosdiana Roslina Roslina, Roslina Rudy Usman S, Andi Bahri Saleh, Fitra Samir, Yulia Gita Samuji, Samuji Sangadji, Mia Lestari Sanusi, Novi Sundari Saragih, Indra Riski Sari, Wina Janustisia Sarmila, Sarmila Sarramadani Selmita Paranoan Sitanggang, Theodora Christina Romauli Sri Nur Rahmi Sri Reski Ananda St. Aminah Suarning Suarning, Suarning Suci, Fuji Mutia Suci, Indah Sukatin, Sukatin Sulfiani, Besse Sulindrina, Andra Sulistina Agustin, Sulistina Sumarni Sumarni Sumual, Claudea J. E. Sutrisman Basir Syahrani, Cahya Bilqis Syahriyah Semaun, Syahriyah Syam, Ulfah Syamsiar, Syamsiar Tampang, Tampang Tanra, Andi Ainil Mufidah Tengku Nurhidayah Togatorop, Margaretha Totanan, Chalarce Tri Wulandari Umar, Umrah Yani Utari, Adiani Purwa Varian, Devlin Janitra Wahidah, Wiratul Wahyudi, Rifqi Nur Wahyuniarsih, Desi Winarni Fujiastuti Winata, Aliahardi Wiranta, Yudhistira Wisnu Wardana, Wisnu Wulan Fabisian Wulandari, Neti Yasin, Nurfatwa Andriani Yesi Aprianti Yuldi Mile Zamli