PENGARUH TINGKAT KEPATUHAN GOVERNMENT REGULATIONS TERHADAP KINERJA KEUANGAN DENGAN VARIABEL CORPORATE SOCIAL RESPONSIBILITY DAN INOVASI SEBAGAI VARIABEL MEDIASI (STUDI EMPIRIS PADA PERUSAHAAN SEKTOR CONSUMER NON-CYCLICALS BEI)
Niluh Komang Kusuma Yasari, H. Pratikto, Ery Tri Djatmika Rudijanto Wahju Wardhana
🤖 gxceed AI 要約
日本語
インドネシア証券取引所上場の消費者非循環セクター企業を対象に、政府規制遵守（PROPERスコア）が財務パフォーマンス（ROIC）に与える影響を、CSRとイノベーションを媒介変数として分析。規制遵守は直接財務パフォーマンスに影響しないが、CSRとイノベーションを促進する。イノベーションは財務パフォーマンスを向上させ、規制遵守の効果を媒介する一方、CSRは財務パフォーマンスに影響せず、媒介効果もない。
English
This study analyzes the effect of government regulatory compliance (PROPER scores) on financial performance (ROIC) with CSR and innovation as mediators in Indonesian consumer non-cyclicals firms. Results show compliance does not directly affect performance but positively influences CSR and innovation. Innovation improves performance and mediates the compliance–performance link, but CSR does not. Findings suggest innovation investment is key to translating regulatory compliance into financial gains.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
インドネシアの環境規制（PROPER）とCSR開示の分析であり、日本のSSBJや有報制度との直接的な接点は少ない。ただし、規制遵守がイノベーションを通じて財務成果に結びつくという知見は、日本企業の環境投資判断に示唆を与える。
In the global GX context
This paper provides empirical evidence from an emerging market (Indonesia) on how environmental regulatory compliance interacts with CSR and innovation to affect financial performance. For global audiences, it adds to the literature on the business case for environmental regulation, highlighting the mediating role of innovation over CSR. It is relevant for understanding how disclosure and compliance regimes can drive firm value beyond direct compliance costs.
👥 読者別の含意
🔬研究者:Offers empirical evidence on the mediating role of innovation between environmental regulatory compliance and financial performance in an emerging market context.
🏢実務担当者:Suggests that investing in innovation may help translate regulatory compliance into better financial outcomes, more so than CSR activities alone.
🏛政策担当者:Provides insights into how environmental regulation can indirectly boost firm performance through innovation, supporting the design of compliance-based policies.
📄 Abstract（原文）
This study aims to analyze the effect of the level of compliance with government regulations on financial performance, with Corporate Social Responsibility (CSR) and innovation as mediating variables in Consumer Non-Cyclicals sector companies listed on the Indonesia Stock Exchange. This research employs an explanatory quantitative approach using secondary data obtained from financial statements, sustainability reports, and PROPER data from the Ministry of Environment and Forestry for the period 2021–2024. The sample consists of 35 companies with a total of 140 observations selected through purposive sampling. The variable of regulatory compliance is measured using PROPER scores, CSR is measured using a disclosure index based on GRI or POJK No. 51/POJK.03/2017, innovation is measured using the ratio of capital expenditure to total assets, and financial performance is measured using Return on Invested Capital (ROIC). Data analysis is conducted using SEM-PLS with the assistance of SmartPLS 4.0. The results indicate that the level of compliance with government regulations does not have a direct effect on financial performance, but has a positive effect on CSR and innovation. CSR does not affect financial performance and is unable to mediate the relationship between regulatory compliance and financial performance. In contrast, innovation has a positive effect on financial performance and is able to mediate the effect of regulatory compliance on financial performance. These findings suggest that regulatory compliance is more effective in improving financial performance when accompanied by innovation investments that enhance efficiency and competitiveness.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://plj.ac.id/ojs/index.php/jrlab/article/download/2328/1652first seen 2026-07-18 08:21:13
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