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"ABSTRAKTujuan utama penelitian ini adalah untuk meneliti hubungan empiris antara Strategic corporate social responsibility (Strategic CSR), Corporate Governance (CG), dan kinerja perusahaan dengan menguji hubungan timbal balik diantara ketiganya. Untuk memperoleh hasil yang lebih komprehensif, variabel CSR yang digunakan dalam penelitian ini terdiri dari Strategic CSR, Non Strategic CSR, dan CSR sebagai suatu keseluruhan. Menggunakan uji two stage least square (2SLS), hasil penelitian ini menunjukkan bahwa mekanisme CG berpengaruh positif terhadap aktivitas CSR, Non Strategic CSR dan kinerja perusahaan (baik ROA maupun PBV), CSR dan Non Strategic CSR berpengaruh positif terhadap ROA, sedangkan CSR, Strategic dan Non Strategic CSR berpengaruh positif terhadap PBV. Aktivitas Strategic CSR perusahaan berpengaruh signifikan dalam meningkatkan PBV perusahaan. Hasil penelitian ini mendukung social impact hypothesis, agency theory, dan conflict resolution theory.

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ABSTRACTThe primary objective of this study is to examine the empirical association among Strategic corporate social responsibility (Strategic CSR), Corporate Governance (CG), and firm performance by investigating their causal effects. For getting more comprehensive result, CSR variables in this study consist of Strategic CSR, Non Strategic CSR and CSR a whole. Using the two stage least square (2SLS) method, the results show that CG mechanism positively influence CSR, Non Strategic CSR and firm performance (both ROA and PBV), CSR and Non Strategic CSR positively influence ROA, while CSR, Strategic dan Non Strategic CSR positively influence PBV. Firms‟ Strategic CSR engagement plays a significantly positive role in enhancing PBV. The results support social impact hypothesis, agency theory, and conflict resolution theory"

"Penelitian ini dilakukan untuk mengetahui pola hubungan yang terjadi diantara Pengungkapan Corporate Governance (CG) dengan Pengungkapan Corporate Social Responsibility (CSR) pada perusahaan yang termasuk ke dalam kelompok industri high profile yang tercatat di Bursa Efek Indonesia. Penelitian ini menggunakan metode content analysis atas laporan tahunan perusahaan sampel pada tahun 2006. Penelitian ini menguji dua buah model penelitian. Dimana, pada pengujian pertama, Pengungkapan CG berlaku sebagai variabel dependen dan Pengungkapan CSR berlaku sebagai variabel independen, pada pengujian kedua berlaku hal sebaliknya. Selain itu, untuk lebih mengetahui faktor-faktor yang mempengaruhi Pengungkapan CG dan Pengungkapan CSR, penelitian ini menggunakan beberapa variabel independen yaitu Status Afiliasi, Komisaris Independen, dan Kepemilikan Manajemen serta Ukuran Perusahaan, Resiko, dan Profitabilitas sebagai variabel pengendali. Untuk menguji masing-masing variabel terhadap Pengungkapan CG maupun Pengungkapan CSR, dilakukan analisis regresi linear berganda. Hasil penelitian menunjukkan bahwa pada pengujian pertama, Pengungkapan CSR berhubungan positif dan signifikan terhadap Pengungkapan CG. Sedangkan, Resiko, Profitabilitas, Ukuran Perusahaan, serta Komisaris Independen berhubungan positif namun tidak signifikan dengan Pengungkapan CG. Sebaliknya, Kepemilikan Manajemen berhubungan negatif dan signifikan terhadap Pengungkapan CG. Selanjutnya, pada pengujian kedua hasil penelitian menunjukkan bahwa Pengungkapan CG, Status Afiliasi, dan Kepemilikan Manajemen berhubungan positif dan signifikan terhadap Pengungkapan CSR. Sementara, Ukuran Perusahaan dan Komisaris Independen berhubungan positif namun tidak signifikan dengan Pengungkapan CSR. Sebaliknya, Resiko berhubungan negatif dan signifikan terhadap Pengungkapan CSR.

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This research is conducted to develop an understanding of the relationship between Corporate Governance (CG) Disclosure and Corporate Social Responsibility (CSR) Disclosure involving companies that are included within the high profile industry that are listed in the Indonesian Stock Exchange. The method used in developing this research is through content analysis based on companies? annual report samples taken from the year 2006. This study investigates two different model, where in the first model the consequences of CG act as an dependent variable and CSR act as an independent variable. While, in the second model the two variables act vice versa. Beside other than the interaction between those two variables, there are other independent variables that also affect CG Disclosure and CSR Disclosure such as Affiliation Status, Independent Commissioners and Management Ownership in addition to the Size of the company, Risk and Profitability as controlling variables. To test each variable?s effect towards the CG Disclosure and CSR Disclosure, a multiple linear regression analysis was done. The result in the first model shows that CSR Disclosure has a positive and significant effect to CG Disclosure. Meanwhile, Risk, Profitability, Size, and Independent Commissioners have a positive effect but insignificant to CG Disclosure. On the other hand, Management Ownership have a negative effect and significant to CG Disclosure. Then, on the second model show that CG Disclosure, Affiliation Status, and anagement Ownership have a positive and significant effect to CSR Disclosure. Meanwhile, Size and Independent Commissioners have a positive but insignificant effect to CSR Disclosure. On the other hand, Risk has a negative and significant effect to CSR Disclosure."

"Penelitian ini bertujuan untuk menguji secara empiris pengaruh karakteristik dan tata kelola perusahaan terhadap Corporate Social Responsibility CSR Expenditure pada perusahaan publik di Indonesia. Populasi pada penelitian ini adalah perusahan yang terdaftar di Bursa Efek Indonesia pada tahun 2013 hingga 2015. Kriteria pemilihan sampel adalah perusahaan non-finansial yang menjalankan kegiatan Corporate Social Responsibility CSR , memiliki data terkait ASEAN Corporate Governance Scorecard ACGS serta termasuk sebagai 100 perusahaan dengan nilai kapitalisasi terbesar pada tiap periode. Pengujian hipotesis dilakukan dengan menggunakan Fixed Effect Panel-Corrected Standard Errors Model.Hasil menunjukkan bahwa ukuran perusahaan, penjualan, Cash Flow from Operations CFO dan tata kelola perusahaan berpengaruh positif terhadap CSR Expenditure. Selain itu, tingkat profitabilitas dan leverage berpengaruh negatif terhadap CSR Expenditure, namun Market-To-Book MTB Ratio tidak berpengaruh terhadap CSR Expenditure perusahaan. Implikasi dari penelitian ini adalah untuk mendorong pihak perusahaan dalam meningkatkan kualitas praktik tata kelola perusahaan, dan menghimbau manajemen perusahaan untuk memperhatikan perubahan maupun perkembangan ukuran perusahaan, tingkat penjualan maupun tingkat Cash Flow from Operations CFO perusahaan.

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This research aims to empirically examine the impact of firm's characteristics and governance towards Corporate Social Responsibility CSR Expenditure on Indonesian public listed companies. This research is based on a sample of non financial companies listed in Indonesian Stock Exchange for the period of 2013 until 2015, which proven to run Corporate Social Responsibility CSR activities, included in the ASEAN Corporate Governance Scorecard ACGS and also included as the 100 largest capitalized companies in each period.

The fixed effect regression and Panel Corrected Standard Errors PCSE approach are used to test the hypothesis of this research, with results indicating that firm's size, sales, Cash Flow from Operations CFO and Corporate Governance CG have a significant and positive impact towards CSR Expenditure. On the other hand, firm's profitability and leverage have a significant but negative impact towards CSR Expenditure. However, firm's MTB Ratio known to have no significant impact towards CSR Expenditure. The implications of this research are to encourage the company to improve the quality of their corporate governance practices, and suggests the company 39 s management to pay attention to the change and development of company's size, sales level and Cash Flow from Operations CFO level."

"[ABSTRAKTujuan utama penelitian ini adalah untuk meneliti hubungan empiris tentang pengaruh corporate governance terhadap corporate social responsibility disclosure pada perusahaan-perusahaan yang tergabung dalam indeks LQ 45. Pengukuran yang digunakan pada variabel dependen adalah indeks skoring CSRD. Hasil penelitian ini menunjukkan bahwa mekanisme CG dengan komponen variabel commissioners independence berpengaruh negatif dan signifikan terhadap pengungkapan CSR, sebaliknya board independence berpengaruh positif, namun tidak signifikan. Selain itu, variabel manajerial ownership berpengaruh positif dan siginifikan terhadap pengungkapan CSR, namun pada foreign ownership berpengaruh positif dan tidak signifikan pada pengungkapan CSR. Pada variabel kontrol yang digunakan, yaitu umur perusahaan dan ROA berpengaruh positif dan tidak signifikan, sedangkan pada leverage dan ROE berpengaruh negatif, namun tidak signifikan terhadap pengungkapan CSR.ABSTRACTThe main objective of this study was to examine the empirical relationship of the influence of corporate governance on corporate social responsibility disclosure in companies incorporated in the LQ 45 index measurements used in the dependent variable is the index scoring CSRD. These results indicate that the mechanism of CG with a variable component of commissioners independence significantly negative effect on the disclosure of CSR, board independence otherwise positive effect, but not significant. In addition, variable managerial ownership and significantly positive effect on the disclosure of CSR, but on foreign ownership not significantly positive effect on CSR. In the control variables used, the age of the company and ROA is not significantly positive effect, whereas the effect of leverage and ROE is negative, but not significantly to the disclosure of CSR.;The main objective of this study was to examine the empirical relationship of the influence of corporate governance on corporate social responsibility disclosure in companies incorporated in the LQ 45 index measurements used in the dependent variable is the index scoring CSRD. These results indicate that the mechanism of CG with a variable component of commissioners independence significantly negative effect on the disclosure of CSR, board independence otherwise positive effect, but not significant. In addition, variable managerial ownership and significantly positive effect on the disclosure of CSR, but on foreign ownership not significantly positive effect on CSR. In the control variables used, the age of the company and ROA is not significantly positive effect, whereas the effect of leverage and ROE is negative, but not significantly to the disclosure of CSR., The main objective of this study was to examine the empirical relationship of the influence of corporate governance on corporate social responsibility disclosure in companies incorporated in the LQ 45 index measurements used in the dependent variable is the index scoring CSRD. These results indicate that the mechanism of CG with a variable component of commissioners independence significantly negative effect on the disclosure of CSR, board independence otherwise positive effect, but not significant. In addition, variable managerial ownership and significantly positive effect on the disclosure of CSR, but on foreign ownership not significantly positive effect on CSR. In the control variables used, the age of the company and ROA is not significantly positive effect, whereas the effect of leverage and ROE is negative, but not significantly to the disclosure of CSR.]"

"The main idea of Corporate Social Responsibility (CSR) which has become a hot topic at the present is that companies doing businesses are not only committed to their shareholders but also their stakeholders. This commitment is shown from the contribution to develop a sustainable economy by contributing to the environment and working with employees, their families, the local community and society at large to improve their lives in ways that are good for business and for development. Through CSR, the establishment of good corporate governance will be supported. It is one of the means in realizing the principles of corporate governance established by the Organization for Economic and Co-operation andDevelopment (OECD) in 2004. OECD listed these principles which are:

1. Ensuring the basis for an effective corporate governance framework

2. The rights of shareholders and key ownership functions,

3. The equitable treatment of shareholders,

4. The role of stakeholders in corporate governance,

5. Disclosure and Transparency,

6. Responsibilities of the Board.

The principles were first endorsed back in 1999 by OECD ministers and since then they have become an international benchmark for investors, policy makers, corporations and stakeholders worldwide.

The discussion on the matter of CSR reheated in Indonesia when there were rumors that a new law will be established on the requirement and details in conducting CSR.Eventually it became the main discussion due to the approval of the draft of the much fearful new law ; Company Law article 74 (UU Perseroan Terbatas pasal 74) on July 20th, 2007 one of which paragraph states that every company operating in areas relating to natural resources is obliged to fulfill its social and environment responsibilities. The approval of this new law surely invites pros and contras from many constituents. It seems that many still feel that CSR is not necessary and only should be voluntary. The problem is when CSR was a voluntary activity, only a few are willing to carry it out furthermore to give their best to contribute on the matter. Unilever as one of the companies realizing the importance of CSR has been executing CSR since it was first established. Its reputation in the CSR implementation is recognized nationally and internationally; many have awarded Unilever for its outstanding achievements. Programs are approached using the triple bottom-line approach so that it covers the three perspectives, namely social, economy and environmental. Thus, the company formulates CSR programs mainly in three areas environment, small and medium enterprises and health and hygiene. The programs have been enormously successful and have contributed significantly to the sustainable operations of the company and its position as a market leader and as the brand preferred by the people. This excellent implementation of CSR is a mirror image of the commitment made by the company to its stakeholders; an emphasis on the growing awareness in the industry to alter companies? point of views in their purpose of existence from maximizing shareholders? value to stakeholders? value. It has also helped the implementation of good corporate governance at Unilever as CSR is one of the elements of supporting good corporate governance."

"Penelitian ini bertujuan untuk mengetahui pengaruh kinerja perusahaan, rasio utang, nilai pasar kapitalisasi, dan kepemilikan keluarga terhadap corporate governance pada perusahaan yang terdaftar di Bursa Efek Indonesia. Sampel penelitian yang digunakan sebanyak 104 perusahaan. Untuk kinerja perusahaan alat ukur yang digunakan adalah return on asset. Alat ukur yang digunakan untuk corporate governance adalah corporate governance index yang diperoleh dari Indonesian Institute for Corporate Directorship (IICD). Hasil dari penelitian ini menunjukkan bahwa ROA, rasio utang, dan nilai pasar ekuitas memiliki pengaruh positif terhadap CG, sedangkan kepemilikan keluarga memiliki pengaruh negatif terhadap corporate governance index.

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The study is designed to determine the affect of firm performance, debt ratio, market value of equity, and family ownership on corporate governance at firms that listed on Indonesian Stock Exchange. Sample that used for this study is 104 firms. Firm performance are use return on assets and return on equity as a tools. The measurement used for corporate governance is the corporate governance index obtained from the Indonesian Institute for Corporate Directorship. The results from this study indicate that return on asset, debt ratio, and market value of equity have positive effect on CG, on the other side family ownership have negative effect on corporate governance index."

"Good Corporate Governance (GCG) mendapatkan perhatian luas setetah terjadinya berbagai /crisis seperti Krisis Moneter di Indonesia ataupun skandal Enron di Amerika Serikat. Lima eiemen GCG, yaitu Transparansi, Akuntabilitas, Pertonggungjawafaan, Kemandirian dan Kewajaran baik dalam arti sempit dan tuas. Dalam arti tuas GCG berkaitan dengan para stakeholders perusahaan. Di sisi lain Corporate Social Responsibility merupakan komitmen bisnis untuk memberikan kontribusi kepada masyarakat. Dengan kata lain, GCG dan CSR merupakan wujud nyata hubungan perusahaan dan masyarakat setaku stakeholders"

"Good Corporate Governance (GCG) merupakan prinsip yang mengendalikan perusahaan agar mencapai keseimbangan antara kekuatan serta kewenangan perusahaan dalam memberikan pertanggungjawabannya kepada para shareholders dan stakeholders. Empat prinsip GCG yang dijadikan pedoman, yaitu Responsibility (Pertanggungjawaban), Accountability (Akuntabilitas), Fairness (Keadilan), dan Transparancy (Transparansi). Dalam upaya pelaksanaan prinsip responsibility dari GCG tersebut, PT. KAI melaksanakan program Corporate Social Responsibility (CSR). Prinsip responsibility mempunyai hubungan yang dekat dengan CSR sebagai sarana pencapaian daya saing berkelanjutan sesuai ekspektasi stakeholders. Berdasarkan analisis studi literatur pada Annual Report PT. KAI, tertulis bahwa program CSR PT. KAI bertajuk Program Kemitraan dan Bina Lingkungan (PKBL) yang mencakup pengembangan hubungan internal dan eksternal perusahaan. Pelaksanaan PKBL PT. KAI memiliki keterkaitan dengan konsep-konsep Triple Bottom Lines CSR, yaitu profit, people, dan planet. Penerapan GCG pada program CSR PKBL juga sudah memenuhi kriteria sebagai perusahaan pelaksana GCG terbukti dari kebijakan-kebijakan yang diterapkan oleh PT. KAI. Tata kelola perusahaan dan kebijakan lain yang menyangkut CSR sebagai pedoman pelaksanaan PKBL. Artinya, prinsip GCG merupakan salah satu pilar utama dalam implementasi CSR pada PKBL PT. KAI. CSR PKBL PT. KAI secara keseluruhan dinilai sudah baik aktivitasnya sesuai dengan tahapan-tahapan implementasi CSR dan juga prinsip GCG.

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Good Corporate Governance (GCG) is a concept that controls the company in order to achieve a balance between the strength and authority of the company in providing accountability to its shareholders and stakeholders. Four GCG guiding concept, namely Responsibility (Responsibility), Accountability (Accountability), Fairness (Justice), and Transparency (Transparency). In efforts to implement the concept of responsibility of GCG, PT. KAI implement Corporate Social Responsibility (CSR). The concept of responsibility has a close relationship with CSR as a means of achieving sustainable competitiveness in line with expectations of stakeholders. Based on the analysis of literature on the Annual Report PT. KAI, that the CSR program PT. KAI entitled “Program Kemitraan dan Bina Lingkungan (PKBL),” which includes the development of internal and external relations. Implementation of CSR PT. KAI has associated with the concepts of Triple Bottom Lines CSR, namely profit, people, and planet. Implementation of GCG on PKBL CSR program also match the criteria as a GCG company which is proved by the executor of the policies applied by PT. KAI. Corporate governance and other policies concerning CSR as CSR implementation guidelines. That is, the concept of corporate governance is one of the main pillars in the implementation of CSR in the PKBL PT. KAI. PKBL CSR on PT. KAI overall has been good activities according to the stages of implementation of the concept of CSR and GCG."