Pengaruh CSR dan Kinerja Lingkungan Terhadap Kinerja Keuangan dengan GCG Sebagai Variabel Moderasi Pada Perusahaan Sektor Pertambangan yang Terdaftar di BEI

Allesia Putri Wijaya Sutikno (Universitas 17 Agustus 1945 Surabaya, Jawa Tengah)
Mulyanto Nugroho (Universitas 17 Agustus 1945 Surabaya, Jawa Tengah)

Jurnal Ilmiah Manajemen, Ekonomi dan Akuntansi
Vol. 6 No. 2 (2026): JULI : Jurnal Ilmiah Manajemen, Ekonomi dan Akuntansi

The purpose of this study is to examine how CSR (Corporate Social Responsibility) and Environmental Performance influence Financial Performance in mining companies listed on the Indonesia Stock Exchange (IDX) during 2020–2024, while also evaluating the role of GCG (Good Corporate Governance) as a moderating variable. This research is motivated by inconsistent findings in previous studies that investigated the relationship between CSR, environmental performance, and profitability, particularly in the mining industry, which has a high level of environmental risk. The method used is explanatory quantitative research with panel data analysis through Structural Equation Modeling–Partial Least Squares (SEM-PLS). The findings indicate that CSR does not have a significant effect on financial performance. In contrast, environmental performance contributes negatively and significantly to financial performance. Additionally, GCG does not moderate the relationship between CSR and financial performance but shows a negative moderating effect on the relationship between environmental performance and financial performance. Overall, the results emphasize that environmental management efforts require substantial costs that can reduce profitability, and good governance practices tend to reinforce these cost-related impacts