FAKTOR-FAKTOR YANG MEMPENGARUHI INDEKS PENGUNGKAPAN CORPORATE SOCIAL RESPONSIBILITY DI INDONESIA (Studi Empiris pada Perusahaan Non Keuangan yang Listing di Bursa Efek Indonesia)

Abstract

The aim of this research is to examine whether a variation of firm and industry characteristics, are potential determinants of corporate social responsibility (CSR) disclosure practices by Indonesian listed firms. Empirical studies have shown that CSR disclosure activism varies across companies, industries, and time (Gray et al., 1995, 2001; Hackston and Milne, 1996; Cormier and Magnan, 2003; Cormier et al., 2005; quotation by Reverte, 2008), which is usually justified by reference to several theoretical constructs, such as the legitimacy, stakeholder, and agency theories. The data used in this research were non-finance sector firms that are published in Indonesia Stock Exchange 2008. This research examined the factors that are considered by corporate to disclose social responsibility. This research identified six factors that may be considered. They are firm size, profitability, industry sensitivity, leverage, media exposure, and ownership structure. The results of this study indicated that firms with higher CSR ratings have a statistically significant ownership structure, media exposure, and industry sensitivity. However, firm size, profitability, and leverage seem to explain differences in CSR disclosure practices between Indonesian listed firms. The most influential variable for explaining firms’ variation in CSR ratings is ownership structure, followed by industry sensitivity and media exposure. Keywords : corporate social responsibility disclosure ratings, firm size, profitability, industry sensitivity, leverage, media exposure, ownership structure