Pengaruh Biaya Lingkungan dan Tanggung Jawab Sosial Perusahaan terhadap Kinerja Perusahaan pada Sektor Industri Barang Konsumsi

Nurhayati, Siti Fauzi (2025) Pengaruh Biaya Lingkungan dan Tanggung Jawab Sosial Perusahaan terhadap Kinerja Perusahaan pada Sektor Industri Barang Konsumsi. Sarjana (S1) thesis, STIE Tri Bhakti.

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Abstract

This study aims to examine the effect of environmental costs and corporate social responsibility (CSR) on firm performance in the consumer goods industry sector, particularly the food and beverage sub-sector. The background of this research stems from the growing attention of stakeholders toward sustainability practices, which require companies not only to pursue profitability but also to consider social and environmental impacts. To frame the analysis, this study draws on stakeholder theory, legitimacy theory, and the resource-based view. The research employed a quantitative approach using secondary data from annual and sustainability reports of companies in the food and beverage sub-sector listed on the Indonesia Stock Exchange. Multiple regression analysis was conducted to test the influence of environmental costs and CSR disclosure on firm performance, proxied by profitability. The results reveal that environmental costs have a significant yet negative effect on firm performance. This indicates that greater allocation of environmental expenditures tends to reduce profitability in the short term. In other words, environmental investment is still perceived as a cost burden rather than a source of value creation. Meanwhile, CSR disclosure demonstrates a positive relationship with firm performance, but the effect is statistically insignificant. This finding suggests that although CSR aligns with theoretical perspectives that emphasize legitimacy and stakeholder engagement, its contribution to financial performance remains limited in practice. Taken together, environmental costs and CSR disclosure do not exert a significant influence on firm performance when considered simultaneously. Firm profitability is more strongly influenced by other factors outside the model, such as operational efficiency, business strategy, industry dynamics, and macroeconomic conditions. This study concludes that in the consumer goods industry, particularly the food and beverage sub-sector, environmental costs and CSR have yet to function effectively as strategies for value creation. The implication is that stronger integration of environmental programs and CSR disclosure into corporate strategy is required to enhance profitability while simultaneously reinforcing corporate legitimacy among stakeholders.

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