DISERTASI dan TESIS Program Pascasarjana UM, 2010

Ukuran Huruf:  Kecil  Sedang  Besar

Pertimbangan Investor Berinvestasi dan Faktor- Faktor Yang Mempengaruhi Pengungkapan Corporate Social Responsibility Perusahaan Go Publik Di Bursa Efek Indonesia. (Disertasi)

Luqman Hakim

Abstrak


Pengungkapan corporate social responsibility merupakan proses pengkomunikasian dampak sosial dan lingkungan dari kegiatan ekonomi organisasi terhadap kelompok khusus yang berkepentingan dan terhadap masyarakat secara keseluruhan. Suatu perusahaan dapat mewujudkan corporate social responsibility secara baik, kalau perusahaan tersebut mampu menerapkan kewajibanya secara berimbang antara kepentingan stakeholders primer dan sekunder. Tuntutan terhadap perusahaan untuk memberikan informasi yang transparan, organisasi yang akuntabel serta tata kelola perusahaan yang semakin bagus (good corporate governance) semakin memaksa perusahaan untuk memberikan informasi mengenai aktivitas sosialnya. Masyarakat maupun investor membutuhkan informasi mengenai sejauh mana perusahaan sudah melaksanakan aktivitas sosialnya.

Tujuan penelitian ini adalah mengetahui pengungkapan corporate social responsibility digunakan sebagai salah satu dasar pertimbangan dalam berinvestasi. Selain itu, mengetahui pengaruh ukuran dewan komisaris, tingkat leverage, ukuran perusahaan, tipe industri, tingkat profitabilitas, struktur kepemilikan saham terhadap pengungkapan corporate social responsibility.

Jenis penelitian adalah penelitian eksplanatori, sampel yang terkait dengan para investor didapat 36 investor yang ada di Kota Malang, sedangkan yang terkait dengan laporan keuangan dalam penelitian ini berjumlah 73 perusahaan yang mengungkapkan corporate social responsibility. Data persepsi investor terhadap pengungkapan corporate social responsibility dengan penyebaran kuesioner kepada investor yang dijadikan sebagai responden, sedangkan data tentang ukuran dewan komisaris, tingkat leverage, ukuran perusahaan, tipe industri, profitabilitas perusahaan dan struktur kepemilikan saham diperoleh dari annual report tiap perusahaan yang di publikasikan PT. Bursa Efek Indonesia tahun 2007 dan 2008. Analisis yang digunakan analisis deskriptif, regresi berganda.

Hasil analisis deskripif, menemukan bukti bahwa investor sudah mulai merespon dengan baik informasi-informasi sosial yang disajikan perusahaan dalam laporan tahunan. Hal ini berarti pengungkapn sosial dalam laporan tahunan sudah direspon positif oleh investor sebagai salah satu faktor yang dipertimbangkan dalam malakukan investasi. Hasil analisis regresi berganda, menemukan bukti bahwa ukuran dewan komisaris, leverage dan struktur kepemilikan berpengaruh negatif dan signifikan terhadap pengungkapan corporate social responsibility, Sedangkan ukuran perusahaan, tipe industri, profitabilitas berpengaruh positif dan signifikan terhadap pengungkapan corporate social responsibility.

Abstract:

Keywords: Investment, board size, leverage, firm size, industry type, profitability, ownership structure and corporate social responsibility disclosure

Disclosure of corporate social responsibility is a process of communicating the social and environmental impacts of economic activities of organization to the particular group concerned and to society as a whole. A company can realize a good corporate social responsibility, if the company is able to apply by proportional be balanced between primary and secondary stakeholders' interests. Lawsuits against companies for providing information in a transparent, accountable organization, and corporate governance, the better (good corporate governance) increasingly forcing companies to provide information about social activities. Community and investors need information about how far the company has been conducting social activities.

The purpose of this study was to expression of corporate responsibility social used as one of the consideration base in have investment. In addition, the effect size of the board of commissioners, the level of leverage, firm size, industry type, profitability, ownership structure on the disclosure of corporate social responsibility.

The study was explanatory and comparative study, samples were associated with perceptions of the investors get 36 investors who were in Malang City. Samples associated with the financial statements in this research are 73 companies that disclose corporate social responsibility. Data perception investor attitudes towards corporate social responsibility disclosure by distributing questionnaires to investor who serve as informants, while the data on board size, leverage, company size, company type, company profitability and ownership structure is obtained from annual report on the companies that publish PT. Indonesia Stock Exchange in 2007 and 2008. Analysis used descriptive analysis, multiple regression and different test.

Result of analysis descriptive, finding evidence that investor have started better social information's which presented by company in annual report. Matter this means social expression in annual report have positive respond by investor as one of the factor which considered in conducting investment. Results of multiple regression analysis, found evidence that board size, leverage and ownership structure significantly and negatively related to disclosure of corporate social responsibility, while company size, company type, profitability and significant positive effect on the disclosure of corporate social responsibility.