Influence of Profitability, Leverage, and Environmental Costs On Environmental Performance
DOI:
https://doi.org/10.21009/japa.0301.08Keywords:
Profitability, Leverage, Environmental Costs, Environmental PerformanceAbstract
This study intends to determine the impact of profitability, leverage, and environmental costs on environmental performance. Profitability is proxied by the ratio of net income to total assets, leverage is proxied by the ratio of debt to equity. The population of this research is non-financial companies listed on the Indonesia Stock Exchange (IDX) and PROPER witha period of 2017-2020. The method of determining the sample used the principle of purposive sampling and obtained a sample of thirteen companies so that the total observations were fifty-two. Eviews 8 software is used in the study of the evidence for presumption testing by utilizing the panel regression analysis. The research results show that profitability, leverage, and environmental costs have a negative and insignificant effect on environmental performance.
References
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Bergmann, A. (2016). The Link Between Corporate Environmental and Corporate Financial Performance- Viewpoints From Practice and Research. Sustainability (Switzerland), 8(12), 1-15. https://doi.org/10.3390/s8121219
Brigham, EF, & Joel, FH (2010). Dasar-Dasar Manajemen Keuangan. Salemba Empat.
Clarkson, PM, Li, Y., Richardson, GD, & Vasvari, FP (2011). Does It Really Pay to Be Green? Determinants and Consequences of Proactive Environmental Strategies. Journal of Accounting and Public Policy, 30(2), 122-144, Ittps://doi.org/10.1016/j.jaccpubpol.2010.09.013
Darlis, E., Zirman, & Zulmi, N. (2009). Pengaruh Ukuran Dewan Komisaris, Tingkat Leverage dan Tingkat Profitabilitas Terhadap Pengungkapan Informasi Lingkungan Hidup Jurnal Ekonomi, 17(3), 77- 89.
Deegan. C. (2002). Introduction: The Legitimising Effect of Social and Environmental Disclosures-a Theoretical Foundation. Accounting Auditing & Accountability Journal, 15(3), 282-311. latps://doi.org/10.1108/09513570210435852
Dewata, E., Jauhari, H., Sari, Y., & Jumarni, E. (2018), Pengaruh Biaya Lingkungan, Kepemilikan Asing dan Political Cost Terhadap Kinerja Perusahaan Pertambangan Di Indonesia. Jurnal AKSI (Akuntansi Dan Sistem Informasi), 3(2), 122-132. https://doi.org/10.32486/aksi.v2i2.271
Egbunike, A., & Okoro, G. (2018). Does Green Accounting Matter to The Profitability of Firms? A Canonical Assessment. Horizonti, 20(1),17-26. https://doi.org/10.5937/ekonhor1801017e
Elmaghi, MH, Nhim, CG, Elamer, AA, & Zhang. Q. (2019). A Study of Environmental Policies and Regulations, Governance Structures, and Environmental Performance: The Role of Female Directors. Business Strategy and The Environment, 28(1), 206-220. https://doi.org/10.1002/bse.2250
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Ezzi, F., & Jarboui, A. (2016). Does Innovation Strategy Affect financial, Social and Environmental Performance? Journal of Economics, Finance and Administrative Science, 21(40), 14-24. https://doi.org/10.1016/j.jefas 2016.03.001
Francoeur, C., Lakhal, F., Gaaya, S., & Ben Saad, 1. (2021). How Do powerful CEOs Influence Corporate Environmental Performance? Economic Modelling. 94 (October 2019), 121-129. https://doi.org/10.1016/j.ccommod 2020.09.024
Ghozali. (2013). Aplikasi Analisis Multivariate dengan Program IBM SPSS 25.
Harahap, SS (2011). Analisis Kritis Atas Laporan Keuangan (11th ed.). Rajawali Pers.
Hartl, EM, Monnelly, EP, & Elderkin, RD (2021). Statistical Review of World Energy 2011. June, 485- 532.
Hasyir. DA (2015). The Influence of Profitability. Firm Size, Proportion of Independent Board of Commissioners, and ISO 14001 Certification on Corporate Environmental Performance.
Henri, JF, & Journeault, M. (2008). Environmental Performance Indicators: An Empirical Study of Canadian Manufacturing Firms. Journal of Environmental Management, 87(1), 165-176. https://doi.org/10.1016/j.jenvman.2007.01.009
Kwarto, F. (2012). Synchronization Of Green Accounting With Company Managerial Accounting: A Corporate Financial Department Perspective. Simposium Nasional Akuntansi XV Banjarmasin
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Mustika, L., Nurleli, & Lestari, R. (2015). Pengaruh Leverage, Likuiditas, Profitabilitas Terhadap Kinerja Lingkungan (Pada Perusahaan Pertambangan yang Listing di Bursa Efek Indonesia Periode 2012-2013). In Prosiding Penelitian SPESIA (pp. 197-205).
Pakpahan, Y., & Rajagukguk, 1.. (2018), Analisis Pengaruh Profitabilitas, Ulaaran Perusahaan, Ukuran Dewan Komisaris, Dan Media Exposure Terhadap Pengungkapan Tanggung Jawab Sosial Jurnal Akuntansi, 18(2), 197–218. http://ejournal.ukrida.ac.id/ojs/index.php/Akun/article/view/1631
Parlupi, FI (2017). Pengaruh Corporate Governance terhadap Kinerja Lingkungan dan Nilai Perusahaan. Journal of Chemical Information and Modeling, 53(9), 1689–1699.
Praptiningsih, CY, Lafond, KE, Wahyuningrum, Y., Storms, AD, Mangiri, A., Juliano, AD, Samaan, G., Titaley, CR, Yelda, F, Kreslake, J., Storey, D., & Uyeki, TM (2016), Healthcare-Seeking Behaviors for Acute Respiratory Illness in Two Communities of Java, Indonesia: A cross-Sectional Survey. Journal of Epidemiology and Global Health, 6(2), 77-86. https://doi.org/10.1016/j.jegh.2016.01.002
Rivandi, M. (2021), Pengaruh Struktur Kepemilikan Terhadap Pengungkapan Corporate Social Responsibility. Jurnal Informası, Perpajakan, Akuntansi, Dan Keuangan Publik, 16(1), 21. https://doi.org/10.25105/jipak.v1611.6439
Sari. ANN, & Triyono. (2019). Pengaruh Struktur Corporate Governance, Leverage, Size, Dan Profitabilitas Terhadap Pengungkapan Corporate Social Responsibility (Cse) Dalam Laporan Talunan. Seminar Nasional Dan The 6th Call for Syariah Paper, 601-614.
Sari, CW, Ketut, IG, & Ulupui, A. (2013) Pengaruh Karakteristik Perusahaan Terhadap Kinerja Lingkungan Berbasis Proper Pada Perusahaan Manufaktur Di Bursa Efek Indonesia. Jurnal Ilmiah Akuntansi Dan Bisnis, 9(1), 25-41
Sari, RA (2012). Pengaruh Karakteristik Perusahaan Terhadap Corporate Social Responsibility Disclosure Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia. Nominal, Barometer Riset Akuantansi dan Manajemen, 1(2). https://doi.org/10.21831/nominal.v1i2.1002
Setiawan, W., H, LB, & Pranaditya, A. (2015). Pengaruh Kinerja Lingkungan, Biaya Lingkungan dan Ukuran Perusahaan Terhadap Kinerja Keuangan Dengan Corporate Social Responsibility (CSR) Sebagai Variabel Intervening (Studi Kasus Perusahaan Studi Kasus pada Perusahaan Manufaktur yang terdaftar di Bursa, Journal Of Accounting 2018, VIII(1), 1-12.
Siregar, IF, Rasyad, R., & Zaharman. (2019). Pengaruh Implikasi Biaya lingkungan dan Kinerja Lingkungan Terhadap Kinerja Keuangan Perusahaan Pertambangan Umum Kategori PROPER. Jurnal Ekonomi Dan Bisnis Dharma Andalas, 21(2), 198–209.
Soseno, NS, Romdhon, M., & Rochmatunisa, S. (2020). Pengaruh Pengungkapan Akuntansi Lingkungan dan Biaya Lingkungan Terhadap Kinerja Lingkungan Pada Perusahaan Tekstil Yang Terdaftar Di Bursa Efek Indonesia Periode 2016 -2018. Jurnal Al-Iqtishad, 2(15), 16–38.
Suharyani, R., Ulum, I., & Jati, AW (2019). Pengaruh Tekanan Stakeholder Dan Corporate Governance Terhadap Kualitas Sustainability Report. Sustainability (Switzerland), 11(1), 1–14.
Suratno, IB, Da rsono, & Mutmainah, S. (2004). Simposium nasional akuntansi 9 padang pengaruh. 23–26.
Vinayagamoorthi, V., Murugesan, S., & Kasilingam, L. (2015). Impact of Firms Profitability on Environmental Performance: Evidence From Companies in India. Mediterranean Journal of Social Sciences, 6(1), 109–119. https://doi.org/10.5901/mjss.2015.v6n1p109
Visser, W., & Brundtland, GH (2013). Our Common Future ('The Brundtland Report'): World Commission on Environment and Development. The Top 50 Sustainability Books, 52–55. https://doi.org/10.9774/gleaf.978-1-907643-44-6_12
Widarsono, A., & Hadiyanti, CP (2015). Pengaruh Profitabilitas, Leverage Dan Likuiditas Terhadap Kinerja Lingkungan (Studi Pada Badan Usaha Milik Negara (BUMN) Sektor Manufaktur Periode 2009-2013). Jurnal Riset Akuntansi Dan Keuangan, 3(3), 837–852. www.menlh.go.id
Yesika, N., & Chariri, A. (2013). Pengaruh Mekanisme Corporate Governance Dan Karakteristik Perusahaan Terhadap Kinerja Lingkungan. Diponegoro Journal of Accounting, 0(0), 727–735.
Zou, HL, Zeng, SX, Lin, H., & Xie, XM (2015). Top Executives' Compensation, Industrial Competition, and Corporate Environmental Performance: Evidence from China. Management Decision, 53(9), 2036–2059. https://doi.org/10.1108/MD-08-2014-0515
Al-Tuwaijri, SA, Christensen, TE, & Hughes, KE (2004). The Relations Among Environmental Disclosure, Environmental Performance, and Economic Performance: A Simultaneous Equations Approach. Accounting, Organizations https://doi.org/10.1016/S0361-3682(03)00032-1 and Society, 29(5-6), 447-471.
Bergmann, A. (2016). The Link Between Corporate Environmental and Corporate Financial Performance- Viewpoints From Practice and Research. Sustainability (Switzerland), 8(12), 1-15. https://doi.org/10.3390/s8121219
Brigham, EF, & Joel, FH (2010). Dasar-Dasar Manajemen Keuangan. Salemba Empat.
Clarkson, PM, Li, Y., Richardson, GD, & Vasvari, FP (2011). Does It Really Pay to Be Green? Determinants and Consequences of Proactive Environmental Strategies. Journal of Accounting and Public Policy, 30(2), 122-144, Ittps://doi.org/10.1016/j.jaccpubpol.2010.09.013
Darlis, E., Zirman, & Zulmi, N. (2009). Pengaruh Ukuran Dewan Komisaris, Tingkat Leverage dan Tingkat Profitabilitas Terhadap Pengungkapan Informasi Lingkungan Hidup Jurnal Ekonomi, 17(3), 77- 89.
Deegan. C. (2002). Introduction: The Legitimising Effect of Social and Environmental Disclosures-a Theoretical Foundation. Accounting Auditing & Accountability Journal, 15(3), 282-311. latps://doi.org/10.1108/09513570210435852
Dewata, E., Jauhari, H., Sari, Y., & Jumarni, E. (2018), Pengaruh Biaya Lingkungan, Kepemilikan Asing dan Political Cost Terhadap Kinerja Perusahaan Pertambangan Di Indonesia. Jurnal AKSI (Akuntansi Dan Sistem Informasi), 3(2), 122-132. https://doi.org/10.32486/aksi.v2i2.271
Egbunike, A., & Okoro, G. (2018). Does Green Accounting Matter to The Profitability of Firms? A Canonical Assessment. Horizonti, 20(1),17-26. https://doi.org/10.5937/ekonhor1801017e
Elmaghi, MH, Nhim, CG, Elamer, AA, & Zhang. Q. (2019). A Study of Environmental Policies and Regulations, Governance Structures, and Environmental Performance: The Role of Female Directors. Business Strategy and The Environment, 28(1), 206-220. https://doi.org/10.1002/bse.2250
Elsayed, K., & Paton, D. (2005). The impact of Environmental Performance on Firm Performance: Static and Dynamic Panel Data Evidence. Structural Change and Economic Dynamics, 16(3 SPEC 155.), 395-412. https://doi.org/10.1016/j.strucco 2004.04.004
Imanuel Wihandoko dkk Jurnal Akuntan, Perpajakan, d Auditung, Vol. 3, No. 1, hal 119-136
Ezzi, F., & Jarboui, A. (2016). Does Innovation Strategy Affect financial, Social and Environmental Performance? Journal of Economics, Finance and Administrative Science, 21(40), 14-24. https://doi.org/10.1016/j.jefas 2016.03.001
Francoeur, C., Lakhal, F., Gaaya, S., & Ben Saad, 1. (2021). How Do powerful CEOs Influence Corporate Environmental Performance? Economic Modelling. 94 (October 2019), 121-129. https://doi.org/10.1016/j.ccommod 2020.09.024
Ghozali. (2013). Aplikasi Analisis Multivariate dengan Program IBM SPSS 25.
Harahap, SS (2011). Analisis Kritis Atas Laporan Keuangan (11th ed.). Rajawali Pers.
Hartl, EM, Monnelly, EP, & Elderkin, RD (2021). Statistical Review of World Energy 2011. June, 485- 532.
Hasyir. DA (2015). The Influence of Profitability. Firm Size, Proportion of Independent Board of Commissioners, and ISO 14001 Certification on Corporate Environmental Performance.
Henri, JF, & Journeault, M. (2008). Environmental Performance Indicators: An Empirical Study of Canadian Manufacturing Firms. Journal of Environmental Management, 87(1), 165-176. https://doi.org/10.1016/j.jenvman.2007.01.009
Kwarto, F. (2012). Synchronization Of Green Accounting With Company Managerial Accounting: A Corporate Financial Department Perspective. Simposium Nasional Akuntansi XV Banjarmasin
McGuinness, PB, Vicito, JP, & Wang, M. (2017). The Role of Board Gender and Foreign Ownership in The CSR Performance of Chinese Listed Firms. Journal of Corporate Finance, 42, 75-99. https://doi.org/10.1016/j.jcorpfin 2016.11.001
Mowen, DRH & M. (2007). Managerial Accounting (8th ed.).
Mustika, L., Nurleli, & Lestari, R. (2015). Pengaruh Leverage, Likuiditas, Profitabilitas Terhadap Kinerja Lingkungan (Pada Perusahaan Pertambangan yang Listing di Bursa Efek Indonesia Periode 2012-2013). In Prosiding Penelitian SPESIA (pp. 197-205).
Pakpahan, Y., & Rajagukguk, 1.. (2018), Analisis Pengaruh Profitabilitas, Ulaaran Perusahaan, Ukuran Dewan Komisaris, Dan Media Exposure Terhadap Pengungkapan Tanggung Jawab Sosial Jurnal Akuntansi, 18(2), 197–218. http://ejournal.ukrida.ac.id/ojs/index.php/Akun/article/view/1631
Parlupi, FI (2017). Pengaruh Corporate Governance terhadap Kinerja Lingkungan dan Nilai Perusahaan. Journal of Chemical Information and Modeling, 53(9), 1689–1699.
Praptiningsih, CY, Lafond, KE, Wahyuningrum, Y., Storms, AD, Mangiri, A., Juliano, AD, Samaan, G., Titaley, CR, Yelda, F, Kreslake, J., Storey, D., & Uyeki, TM (2016), Healthcare-Seeking Behaviors for Acute Respiratory Illness in Two Communities of Java, Indonesia: A cross-Sectional Survey. Journal of Epidemiology and Global Health, 6(2), 77-86. https://doi.org/10.1016/j.jegh.2016.01.002
Rivandi, M. (2021), Pengaruh Struktur Kepemilikan Terhadap Pengungkapan Corporate Social Responsibility. Jurnal Informası, Perpajakan, Akuntansi, Dan Keuangan Publik, 16(1), 21. https://doi.org/10.25105/jipak.v1611.6439
Sari. ANN, & Triyono. (2019). Pengaruh Struktur Corporate Governance, Leverage, Size, Dan Profitabilitas Terhadap Pengungkapan Corporate Social Responsibility (Cse) Dalam Laporan Talunan. Seminar Nasional Dan The 6th Call for Syariah Paper, 601-614.
Sari, CW, Ketut, IG, & Ulupui, A. (2013) Pengaruh Karakteristik Perusahaan Terhadap Kinerja Lingkungan Berbasis Proper Pada Perusahaan Manufaktur Di Bursa Efek Indonesia. Jurnal Ilmiah Akuntansi Dan Bisnis, 9(1), 25-41
Sari, RA (2012). Pengaruh Karakteristik Perusahaan Terhadap Corporate Social Responsibility Disclosure Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia. Nominal, Barometer Riset Akuantansi dan Manajemen, 1(2). https://doi.org/10.21831/nominal.v1i2.1002
Setiawan, W., H, LB, & Pranaditya, A. (2015). Pengaruh Kinerja Lingkungan, Biaya Lingkungan dan Ukuran Perusahaan Terhadap Kinerja Keuangan Dengan Corporate Social Responsibility (CSR) Sebagai Variabel Intervening (Studi Kasus Perusahaan Studi Kasus pada Perusahaan Manufaktur yang terdaftar di Bursa, Journal Of Accounting 2018, VIII(1), 1-12.
Siregar, IF, Rasyad, R., & Zaharman. (2019). Pengaruh Implikasi Biaya lingkungan dan Kinerja Lingkungan Terhadap Kinerja Keuangan Perusahaan Pertambangan Umum Kategori PROPER. Jurnal Ekonomi Dan Bisnis Dharma Andalas, 21(2), 198–209.
Soseno, NS, Romdhon, M., & Rochmatunisa, S. (2020). Pengaruh Pengungkapan Akuntansi Lingkungan dan Biaya Lingkungan Terhadap Kinerja Lingkungan Pada Perusahaan Tekstil Yang Terdaftar Di Bursa Efek Indonesia Periode 2016 -2018. Jurnal Al-Iqtishad, 2(15), 16–38.
Suharyani, R., Ulum, I., & Jati, AW (2019). Pengaruh Tekanan Stakeholder Dan Corporate Governance Terhadap Kualitas Sustainability Report. Sustainability (Switzerland), 11(1), 1–14.
Suratno, IB, Da rsono, & Mutmainah, S. (2004). Simposium nasional akuntansi 9 padang pengaruh. 23–26.
Vinayagamoorthi, V., Murugesan, S., & Kasilingam, L. (2015). Impact of Firms Profitability on Environmental Performance: Evidence From Companies in India. Mediterranean Journal of Social Sciences, 6(1), 109–119. https://doi.org/10.5901/mjss.2015.v6n1p109
Visser, W., & Brundtland, GH (2013). Our Common Future ('The Brundtland Report'): World Commission on Environment and Development. The Top 50 Sustainability Books, 52–55. https://doi.org/10.9774/gleaf.978-1-907643-44-6_12
Widarsono, A., & Hadiyanti, CP (2015). Pengaruh Profitabilitas, Leverage Dan Likuiditas Terhadap Kinerja Lingkungan (Studi Pada Badan Usaha Milik Negara (BUMN) Sektor Manufaktur Periode 2009-2013). Jurnal Riset Akuntansi Dan Keuangan, 3(3), 837–852. www.menlh.go.id
Yesika, N., & Chariri, A. (2013). Pengaruh Mekanisme Corporate Governance Dan Karakteristik Perusahaan Terhadap Kinerja Lingkungan. Diponegoro Journal of Accounting, 0(0), 727–735.
Zou, HL, Zeng, SX, Lin, H., & Xie, XM (2015). Top Executives' Compensation, Industrial Competition, and Corporate Environmental Performance: Evidence from China. Management Decision, 53(9), 2036–2059. https://doi.org/10.1108/MD-08-2014-0515
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2022-10-21
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Wihandoko, I. ., Zakaria, A. ., & Ulupui, I. G. K. A. (2022). Influence of Profitability, Leverage, and Environmental Costs On Environmental Performance. Jurnal Akuntansi, Perpajakan Dan Auditing, 3(1), 119–136. https://doi.org/10.21009/japa.0301.08
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