Financial Performance in Manufacturing Company with Multiple Linier Regression and MARS

Moch Bisyri Effendi

Abstract


The purpose of this research is to analyze the influence of environmental disclosure and environmental performance on economic performance with firm size as a control variable. The environmental disclosure was measured by GRI index, environmental performance measured by PROPER index, firm size measured by ln total assets and economic performance measured by economic performance index. The sample of this study consists of 32 companies listed on the IDX 2013-2016. The criteria of the research sample are manufacturing companies that follow PROPER index, issuing financial statements with rupiah currency, publish a complete annual report. The results of this study inform that the performance of Multivariate Adaptive Regression Spline (MARS) is better than multiple linear regression. The result of multiple linear regression informs that not all classical assumption requirements are fulfilled. This results in a non-significant regression model, small R-square, and many predictor variables have no effect on response variables. MARS is one of the alternative methods to overcome the lack of multiple linear regression methods. MARS is not a requirement with classical assumptions because it includes one of the non-parametric regressions. MARS results informed that the MARS model is significant, R-square is large and the variables that affecting the economic performance are environmental disclosure and environmental performance while the most influential is the environmental performance.

JEL Classification: F64; G30

DOI: https://doi.org/10.26905/jkdp.v22i1.1609

 


Keywords


Environmental Disclosure; Environmental Performance; Economic Performance; Firm Size

Full Text:

PDF

References


Almilia, L. S., & Wijayanto. (2007). Pengaruh environmental performance dan environmental disclosure terhadap economic performance. Proceedings the 1st Accounting Conference, 1(1), 53–67.

Angelia. D., & Suryaningsih. R. (2015). The Effect of environmental performance and corporate social responsibility disclosure towards financial performance (Case study to manufacture, infrastructure, and service companies that listed at Indonesia Stock Exchange). Procedia - Social and Behavioral Sciences, 3(2), 348–355.

Al-Tuwaijri, S. A., Christensen, T. E., & Hughes, K. (2004). The relations among environmental disclosure, environmental performance, and economic performance: A simultaneous equations approach. Accounting Organizations and Society, 29(5-6), 447-471.

Alvarez, I. G., Galindo, M. P. V., Villardon, M. P. G., & Rosa, M. R. (2014). Environmental performance in countries worldwide: Determinant factors and multivariate analysis. Sustainability, 6, 7807-7832.

Badan Pusat Lingkugan. (2017). Kinerja pengungkapan lingkungan (Online). Retrieved at https://www.menlh.go.id. April 4, 2017.

Bahri, S., & Cahyani, F. A. (2016). Pengaruh kinerja lingkungan terhadap corporate financial performance dengan corporate social responsibility disclosure sebagai variabel intervening. Jurnal Ekonomi Universitas Kediri. 12, 117-142.

Friedman, J. H. (1991). Multivariate adaptive regression splines (with discussion). Annual Statistics. 19,1-141.

Handoko, Y. (2014). Implementasi Social and Environmental Disclosure dalam Perspektif Teoritis. Jurnal JIBEKA, 8(1), 77-80.

Haryati, R., & Rahardjo, S. N. (2013). Pengaruh corporate social responsibility, kinerja lingkungan, dan struktur corporate governance terhadap kinerja keuangan perusahaan yang terdaftar di Bursa Efek Indonesia. Diponegoro Journal of Accounting, 2(2): 348-355.

Hastawati, R. R., & Sarsiti. (2016). Pengaruh kinerja lingkungan dan Corporate Social Responsibility (CSR) terhadap kinerja keuangan pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia tahun 2011-2013. Jurnal Penelitian dan Kajian Ilmiah Fakultas Ekonomi Universitas Surakarta, 14(4), 2085-2215.

Julianto, M., & Sjarief, J. (2016). Analisis pengaruh kinerja lingkungan, manajemen laba, ukuran perusahaan, dan profitabilitas terhadap pengungkapan lingkungan pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia. Jurnal Akuntansi, 9(2), 147-171.

Lindrianasari. (2007). Hubungan antara kinerja lingkungan dan kualitas pengungkapan lingkungan dengan kinerja ekonomi perusahaan di Indonesia. JAAI, 11, 159-172.

Nofianto. E., & Agustina. L. (2014). Analisis pengaruh sustainability report terhadap kinerja keuangan perusahaan. Accounting Analysis Journal, 3(3).

Oktafianti, D., & Rizki, A. (2013). Pengaruh kepemilikan manajerial, ukuran perusahaan, dan kinerja keuangan terhadap corporate environmental disclosure sebagai bentuk tanggung jawab sosial dalam laporan tahunan. Asian Review of Accounting, 15(2), 25-30.

Purnomo, P. K., & Widianingsih, L. P. (2012). The influence of environmental performance on financial performance with Corporate Social Responsibility (CSR) disclosure as a moderating variable: Evidence from listed companies in Indonesia. Review of Integrative Business and Economics Research, 1(1), 57.

Rohmah., I. L., & Wahyudin. A. (2015). Pengaruh environmental performance terhadap economic performance dengan environmental disclosure sebagai variabel intervening. Accounting Analysis Journal, 4(1), 36-40.

Setyaningsih. D. R., & Asyik. N. F. (2016). Pengaruh kinerja lingkungan terhadap kinerja keuangan dengan Corporate Social Responsibility sebagai pemoderasi. Jurnal Ilmu dan Riset Akuntansi, 5(4).

Suhardjanto, D., & Permatasari, N. D. (2010). Pengaruh corporate governance, etnis, dan latar belakang pendidikan terhadap environmental disclosure: Studi empiris pada perusahaan listing di Bursa Efek Indonesia. Kinerja, 14(2), 151-164.

Sutikno. (2008). Statistical downscaling luaran GCM dan pemanfaatannya untuk peramalan produksi padi. Disertasi. Program Pascasarjana Institut Pertanian Bogor.

Tristianasari, G., & Fachrurrozie. (2014). Analisis economic performance perusahaan pertambangan di Indonesia. Accounting Analysis Journal, 3(2), 98-105.

Undang–undang Republik Indonesia No.32 Tahun 2009 tentang perlindungan dan pengelolaan lingkungan hidup.

Wany, E., Murni, S.A., & Kholidah. (2013). Pengaruh corporate environmental performance dan Corporate Social Accounting Disclosure terhadap corporate economic performance. Media Riset Akuntansi, Auditing & Informasi, 13(1), 56-60.

Wulandari, R. D., & Hidayah, E. (2013). Pengaruh environmental performance dan environmental disclosure terhadap economic performance (Studi pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia Periode 2009-2011). EKBISI, 7(2), 233 –244.




DOI: https://doi.org/10.26905/jkdp.v22i1.1609

Refbacks

  • There are currently no refbacks.


Bookmark and Share


Jurnal Keuangan dan Perbankan (Journal of Finance and Banking)

Diploma Program of Banking and Finance, Faculty of Economics and Business, University of Merdeka Malang

Published by University of Merdeka Malang

Mailing Address:
2nd floor Finance and Banking Building, Jl. Terusan Raya Dieng No. 57 Malang, East Java, Indonesia
Phone: -
Email: [email protected]

This work is licensed under a Creative
Commons Attribution-ShareAlike 4.0