Pengaruh Carbon Emission Disclosure dan Environmental Performance Terhadap Financial Performance Return Saham Sebagai Pemoderasi (Studi Empiris Pada Perusahaan Pesrta Proper yang Terdaftar di BEI 2018-2021)

CHRISTINE POEDJIONO. Pengaruh Carbon Emission Disclosure dan Environmental Performance terhadap Financial Performance dan Return Saham Sebagai Pemoderasi (Studi Empiris pada Perusahaan Peserta PROPER yang terdaftar di BEI 2018-2021). Dibawah bimbingan HENNY MULYATI.

Penelitian ini bertujuan untuk menganalisis pengaruh carbon emission disclosure dan environmental peformance terhadap financial performance dan return saham sebagai pemoderasi pada perusahaan peserta PROPER yang terdaftar di BEI 2018-2021. Terdapat 92 data terpilih. Desain penelitian ini adalah penelitian kuantitatif deskriptif. Teknik analisis data yang digunakan adalah Moderated Regression Analysis (MRA) dan uji hipotesis. Hasil penelitian ini menunjukkan carbon emission disclosure dan environmental performance berpengaruh positif dan signifikan terhadap financial performance dengan proksi ROA. Carbon emission disclosure berpengaruh positif terhadap financial performance dengan proksi ROE. Variabel environmental performance tidak berpengaruh positif dan tidak signifikan terhadap financial performance dengan proksi ROE. Return saham dapat memperkuat pengaruh environmental performance terhadap financial performance. Return saham dapat memperlemah pengaruh carbon emission disclosure terhadap financial performance. Kemudian secara simultan carbon emission disclosure dan environmental performance berpengaruh terhadap financial performance dan return saham sebagai pemoderasi.

Kata kunci: Pengungkapan Emisi Karbon, PROPER, Kinerja Lingkungan, Kinerja Keuangan, Return Saham.

ABSTRACT

CHRISTINE POEDJIONO. The Effect of Carbon Emission Disclosure and Environmental Performance on Financial Performance and Stock Returns as a Moderation (Empirical Study on PROPER Participating Companies Listed on the IDX 2018—2021). Guided by HENNY MULYATI.

This study aims to analyze the effect of carbon emission disclosure and environmental performance on financial performance and stock returns as a moderating in PROPER participating companies listed on the 2018—2021 IDX. There are 92 data selected. The design of this study is descriptive quantitative research. The data analysis techniques used are Moderated Regression Analysis (MRA) and hypothesis test. The results of this study showed that carbon emission disclosure and environmental performance have a positive and significant effect on financial performance with ROA proxies. Carbon emission disclosure has a positive effect on financial performance with ROE proxies. The environmental performance variable has no positive and insignificant effect on financial performance with ROE proxies. Stock returns can strengthen the influence of environmental performance on financial performance. Stock returns can weaken the effect of carbon emission disclosure on financial performance. Then simultaneously carbon emission disclosure and environmental performance affect financial performance and stock returns as a moderating.

Keywords: Carbon Emission Disclosure, PROPER, Environmental Performance, Financial Performance, Return Stock.

DAFTAR ISI

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ABSTRAK 1
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DAFTAR TABEL 5
DAFTAR GAMBAR 6
DAFTAR LAMPIRAN 7
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DAFTAR TABEL

Tabel 1.1 Rasio Hasil Pengungkapan Emisi Karbon 4
Tabel 2.1 Daftar Penelitian Terdahulu 18
Tabel 3.1 Ruang Lingkup Pengungkapan Emisi Karbon 30
Tabel 3.2 Indeks PROPER 31
Tabel 3.3 Operasionalisasi Variabel Penelitian 33
Tabel 3.4 Dasar Keputusan Autokorelasi 37
Tabel 4.1 Proses Seleksi Sampel 41
Tabel 4.2 Sebaran Sampel Penelitian 42
Tabel 4.3 Data Sampel 46
Tabel 4.4 Uji Analisis Deskriptif 47
Tabel 4.5 Uji Normalitas data dengan Uji K-S 52
Tabel 4.6 Uji Multikolinearitas 53
Tabel 4.7 Uji Rank Spearman 56
Tabel 4.8 Uji Autokorelasi 57
Tabel 4.9 Durbin-Watson (DW) Bond 57
Tabel 4.10 Uji Regresi Unstandardized 58
Tabel 4.11 Perbandingan Nilai p (Rho) 59
Tabel 4.12 Uji MRA 60
Tabel 4.13 Perbandingan Hasil R Square 62
Tabel 4.14 Uji Determinasi (R²) 64
Tabel 4.15 Uji Statistik F 65
Tabel 4.16 Uji Statistik t 66

DAFTAR GAMBAR

Gambar 1.1 Grafik Konsentrasi CO2 skala global 2
Gambar 1.2 Pergerakan Indeks IHSG 2018-2021 6
Gambar 2.1 Concept of Sustainability Triple Bottom Line 10
Gambar 2.2 Kerangka Pemikiran 20
Gambar 4.1 Uji Normalitas Grafik Histogram 50
Gambar 4.2 Uji Normalitas Grafik Normal P-P Plot 51
Gambar 4.3 Uji Heteroskedastisitas 54

DAFTAR LAMPIRAN

Lampiran 1 Jadwal Penelitian
Lampiran 2 SK Dosen Pembimbing
Lampiran 3 SK Dosen Penguji
Lampiran 4 Daftar Bimbingan
Lampiran 5 Surat Keterangan Riset
Lampiran 6 Tabulasi Data
Lampiran 7 Carbon Emission Disclosure Checklist
Lampiran 8 Laporan Keuangan Sampel
Lampiran 9 Laporan Keberlanjutan Sampel
Lampiran 10 SK Daftar Peringkat PROPER 2018-2021
Lampiran 11 Hasil Cek Turnitin
Lampiran 12 Daftar Riwayat Hidup