The Influence of Liquidity and Corporate Social Responsibility Disclosure on Profitability
DOI:
https://doi.org/10.55927/ijba.v5i4.15235Keywords:
Liquidity, CSR Disclosure, ProfitabilityAbstract
This study examines the influence of liquidity and corporate social responsibility (CSR) disclosure on the profitability of agricultural enterprises listed on the Indonesia Stock Exchange, focusing on the 2021–2023 timeframe. This study was motivated by a significant decline in agriculture sector profitability and inconsistent previous findings. Quantitative associative descriptive approach was used in this research. Purposive sampling resulted in a sample of 18 agricultural companies. SPSS version 27 was utilized as the analytical tool for this analysis. The result shows that, partially, liquidity significantly and positively affects profitability, whereas CSR disclosure does not. However, simultaneously, liquidity and CSR disclosure affect profitability. These findings emphasize the importance of financial stability and CSR for the sustainable growth of the agricultural sector.
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References
Adilla, N., Afni, Z., & Siskawati, E. (2023). Pengaruh Corporate Social Responsibility (CSR), Likuiditas, dan Pertumbuhan Penjualan Terhadap Profitabilitas Perusahaan Pada Perusahaan Sektor Barang Baku Yang Terdaftar Di Bursa Efek Indonesia Tahun 2018-2021. Jurnal Akuntansi, Bisnis Dan Ekonomi Indonesia (JABEI), 2(1), 13–24. https://doi.org/10.30630/jabei.v2i1.74
Ahmad, Z., Hidthiir, M. H. Bin, & Rahman, M. M. (2024). Impact of CSR disclosure on profitability and firm performance of Malaysian halal food companies. Discover Sustainability, 5(1), 18. https://doi.org/10.1007/s43621-024-00189-3
Aldboush, H. H., Almasria, N. A., & Ferdous, M. (2023). Determinants of Firm Profitability: Empirical Evidence from Jordan Service Sector. Business: Theory and Practice, 24(2), 438–446. https://doi.org/10.3846/btp.2023.18623
Apriliyani, I. B., Farwitawati, R., & Nababan, R. A. (2021). Analisis penerapan global reporting initiative (GRI) G4 pada laporan keberlanjutan perusahaan sektor pertanian. Jurnal Akuntansi Kompetif, 4(2), 135–145. https://doi.org/https://doi.org/10.35
/akuntansikompetif.v4i2.666
Arief, D., & Mutmainah, S. (2024). Pengaruh Pengungkapan CSR terhadap Profitabilitas dan Nilai Perusahaan (Studi Empiris pada Perusahaan yang Terdaftar di Bursa Efek Indonesia Periode. Diponegoro Journal Of Accounting, 13(4), 1–13. https://ejournal3.undip.ac.id/index.php/accounting/article/view/47871
Astuti, Sembiring, L. D., Supriyani, Azwar, K., & Susanti, E. (2021). Analisis Laporan Keuangan (H. F. Ningrum (ed.)). CV. Media Sains Indonesia.
Atikah, I., & Sastradipraja, U. (2024). Pengaruh Green Accounting, Kinerja Lingkungan Dan Likuiditas Terhadap Profitabilitas. Journal of Economic, Bussines and Accounting (COSTING), 7(3), 4192–4201. https://doi.org/10.31539/costing.v7i3.8759
Ayoush, M. D., Toumeh, A. A., & Shabaneh, K. I. (2021). Liquidity, leverage, and solvency: What affects profitability of industrial enterprises the most? Investment Management and Financial Innovations, 18(3), 249–259. https://doi.org/10.21511/imfi.18(3).2021.22
Barus, R., Silalahi, F., & Ayu, S. F. (2024). Analisis Penerapan Indikator Global Reporting Initiative (GRI) Pada Laporan Tahunan dan Laporan Keberlanjutan Perusahaan Pertanian. Jurnal Akademi Akuntansi, 7(1), 156–167. https://doi.org/10.22219/jaa.v7i1.28214
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Dewi, P. P., & Wardani, W. (2022). Green Accounting, Pengungkapan Corporate Social Responsibility dan Profitabilitas Perusahaan Manufaktur. E-Jurnal Akuntansi, 32(5), 1117. https://doi.org/10.24843/EJA.2022.v32.i05.p01
Fahad, & Busru, S. A. (2021). CSR disclosure and firm performance: evidence from an emerging market. Corporate Governance: The International Journal of Business in Society, 21(4), 553–568. https://doi.org/10.1108/CG-05-2020-0201
Febriana, H., Rismanty, V. A., Bertuah, E., Permata, S. U., Anismadiyah, V., Sembiring, L. D., Dewi, N. S., Jamaludin, Jatmiko, N. S., Inrawan, A., Astuti, W., & Dewi, I. K. (2021). Dasar Dasar Analisis Laporan Keuangan (J. Irnawati (ed.)). CV. Media Sains Indonesia.
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Gultom, S. M. J. T., Sriwahyuni, F., Laura, C., & Sari, I. R. (2020). Pengaruh Likuiditas, Cash Flow Dan Pertumbuhan Penjualan Terhadap Profitabilitas Pada Perusahaan Pertanian. JAD : Jurnal Riset Akuntansi & Keuangan Dewantara, 3(2), 164–173. https://doi.org/10.26533/jad.v3i2.698
Hery. (2021). Analisis Laporan Keuangan : Intergrated and comperhesive (Adipramono (ed.)). PT Grasindo.
Hidayat, Y. M., Gautama, B. P., & Arianti, C. S. (2021). The Effect of Liquidity and Leverage on Profitability in Agricultural Sector Companies. Proceedings of the 5th Global Conference on Business, Management and Entrepreneurship (GCBME 2020), 98–102. https://doi.org/10.2991/aebmr.k.210831.021
Isa, W., & Mahardika, M. C. (2022). Effect of Solvency and Liquidity on The Profitability of Property Companies Listed on The Sharia Stock Index 2018-2020. EKONOMIKA SYARIAH : Journal of Economic Studies, 5(2). https://doi.org/10.30983/es.v5i2.4849
Jigeer, S., & Koroleva, E. (2023). The Determinants of Profitability in the City Commercial Banks: Case of China. Risks, 11(3), 53. https://doi.org/10.3390/risks11030053
Kasmir. (2019). Analisis Laporan Keuangan (Revisi). PT Raja Grafindo Persada.
Licandro, O., Burguete, J. L. V., Ortigueira-Sánchez, L. C., & Correa, P. (2024). Corporate Social Responsibility and Financial Performance: A Relationship Mediated by Stakeholder Satisfaction. Administrative Sciences, 14(1), 15. https://doi.org/10.3390/admsci14010015
Meiryani, Huang, S. M., Soepriyanto, G., Jessica, Fahlevi, M., Grabowska, S., & Aljuaid, M. (2023). The effect of voluntary disclosure on financial performance: Empirical study on manufacturing industry in Indonesia. PloS One, 18(6), e0285720. https://doi.org/10.1371/journal.pone.0285720
Melani, A. (2024, March 12). Melihat Kinerja Keuangan Emiten CPO pada 2023: AALI hingga BWPT. Liputan 6. https://www.liputan6.com/saham/read/5547399/melihat-kinerja-keuangan-emiten-cpo-pada-2023-aali-hingga-bwpt
Nguyen, T. T. C., Hong Le, A. T., & Nguyen, C. Van. (2024). The Impact of Liquidity and Corporate Efficiency on Profitability. Emerging Science Journal, 8(1), 180–191. https://doi.org/10.28991/ESJ-2024-08-01-013
Pharmacista, G. (2023). Corporate Social Responsibility (CSR) Strategy As a Legal Instrument To Improve Company Reputation. Jurnal Ekonomi, 12(04), 2015–2020. https://ejournal.seaninstitute.or.id/index.php/Ekonomi/article/view/3373
Pratiwi, A., Nurulrahmatia, N., & Muniarty, P. (2020). Pengaruh Corporate Social Responsibility (CSR) Terhadap Profitabilitas Pada Perusahaan Perbankan Yang Terdaftar di BEI. Owner, 4(1), 95. https://doi.org/10.33395/owner.v4i1.201
Prayanthi, I., & Budiarso, N. S. (2022). The effect of social responsibility disclosure on financial performance in the COVID-19 pandemic era. Cogent Business & Management, 9(1). https://doi.org/10.1080/23311975.2022.2147412
Rachmawati, S., & Jayanti, D. (2023). Pengaruh Human Capital, Green Banking Disclosure dan Likuiditas terhadap Profitabilitas. Portofolio: Jurnal Ekonomi, Bisnis, Manajemen, Dan Akuntansi, 20(1), 1–15. https://doi.org/10.26874/portofolio.v20i1.262
Rasyid, C. A. M. P., Indriani, E., & Hudaya, R. (2022). Pengaruh Corporate Social Responsibility Disclosure dan Struktur Modal terhadap Nilai Perusahaan dan Profitabilitas sebagai Variabel Moderasi pada Perusahaan Pertambangan. Jurnal Aplikasi Akuntansi, 7(1), 135–156. https://doi.org/10.29303/jaa.v7i1.146
Romli, & Zaputra, A. R. R. (2022). Pengaruh Implementasi Green Banking, Corporate Social Responsibility terhadap Nilai Perusahaan pada Perusahaan Perbankan yang terdaftar di BEI. Portofolio: Jurnal Ekonomi, Bisnis, Manajemen, Dan Akuntansi, 18(2), 36–59. https://doi.org/10.54783/portofolio.v18i2.214
Solikhah, I. (2022). Pengaruh Pengungkapan Corporate Social Responsibility (CSR) Terhadap Profitabilitas dan Manajemen Laba (Studi Empiris Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia (BEI) Tahun 2015-2017). Jurnal Akuntansi AKUNESA, 10(2), 94–106. https://doi.org/10.26740/akunesa.v10n2.p94-106
Thinh, T. Q., Thuy, L. X., & Tuan, D. A. (2022). The impact of liquidity on profitability – evidence of Vietnamese listed commercial banks. Banks and Bank Systems, 17(1), 94–103. https://doi.org/10.21511/bbs.17(1).2022.08
Widi, H. (2024, August 27). Pertanian Era Jokowi Tumbuh Melambat. Kompas. https://www.kompas.id/baca/ekonomi/2024/08/27/sektor-pertanian-tumbuh-merosot-dalam-satu-dekade-kepemimpinan-jokowi
Wijaya, A., & Novianto, R. A. (2024). Analisis Hubungan Kepatuhan Laporan Keberlanjutan terhadap Peraturan OJK dengan Kinerja Perusahaan. 8(April), 4955–4965. https://doi.org/https://doi.org/10.33395/owner.v8i2.2348
Zega, E. H., & Wahyudi, I. (2023). Pengungkapan Corporate Social Responsibility, Struktur Modal, Likuiditas terhadap Profitabilitas. JIIP - Jurnal Ilmiah Ilmu Pendidikan, 6(11), 9160–9166. https://doi.org/10.54371/jiip.v6i11.2936
Adilla, N., Afni, Z., & Siskawati, E. (2023). Pengaruh Corporate Social Responsibility (CSR), Likuiditas, dan Pertumbuhan Penjualan Terhadap Profitabilitas Perusahaan Pada Perusahaan Sektor Barang Baku Yang Terdaftar Di Bursa Efek Indonesia Tahun 2018-2021. Jurnal Akuntansi, Bisnis Dan Ekonomi Indonesia (JABEI), 2(1), 13–24. https://doi.org/10.30630/jabei.v2i1.74
Ahmad, Z., Hidthiir, M. H. Bin, & Rahman, M. M. (2024). Impact of CSR disclosure on profitability and firm performance of Malaysian halal food companies. Discover Sustainability, 5(1), 18. https://doi.org/10.1007/s43621-024-00189-3
Aldboush, H. H., Almasria, N. A., & Ferdous, M. (2023). Determinants of Firm Profitability: Empirical Evidence from Jordan Service Sector. Business: Theory and Practice, 24(2), 438–446. https://doi.org/10.3846/btp.2023.18623
Apriliyani, I. B., Farwitawati, R., & Nababan, R. A. (2021). Analisis penerapan global reporting initiative (GRI) G4 pada laporan keberlanjutan perusahaan sektor pertanian. Jurnal Akuntansi Kompetif, 4(2), 135–145. https://doi.org/https://doi.org/10.35446/akuntansikompetif.v4i2.666
Arief, D., & Mutmainah, S. (2024). Pengaruh Pengungkapan CSR terhadap Profitabilitas dan Nilai Perusahaan (Studi Empiris pada Perusahaan yang Terdaftar di Bursa Efek Indonesia Periode. Diponegoro Journal Of Accounting, 13(4), 1–13. https://ejournal3.undip.ac.id/index.php/accounting/article/view/47871
Astuti, Sembiring, L. D., Supriyani, Azwar, K., & Susanti, E. (2021). Analisis Laporan Keuangan (H. F. Ningrum (ed.)). CV. Media Sains Indonesia.
Atikah, I., & Sastradipraja, U. (2024). Pengaruh Green Accounting, Kinerja Lingkungan Dan Likuiditas Terhadap Profitabilitas. Journal of Economic, Bussines and Accounting (COSTING), 7(3), 4192–4201.
https://doi.org/10.31539/costing.v7i3.8759
Ayoush, M. D., Toumeh, A. A., & Shabaneh, K. I. (2021). Liquidity, leverage, and solvency: What affects profitability of industrial enterprises the most? Investment Management and Financial Innovations, 18(3), 249–259. https://doi.org/10.21511/imfi.18(3).2021.22
Barus, R., Silalahi, F., & Ayu, S. F. (2024). Analisis Penerapan Indikator Global Reporting Initiative (GRI) Pada Laporan Tahunan dan Laporan Keberlanjutan Perusahaan Pertanian. Jurnal Akademi Akuntansi, 7(1), 156–167. https://doi.org/10.22219/jaa.v7i1.28214
BPS. (2024). Agricultural Indicators 2023. In BPS–Statistics (Ed.), Badan Pusat Statistik (Issues 0854–9427). Badan Pusat Statistik (BPS–Statistics Indonesia). https://www.bps.go.id/en/publication/2024/10/14/8a17b449f72bcd692f99c4ec
Dewi, A. C., & Estiningrum, S. D. (2021). Pengaruh Current Ratio, Debt To Equity Ratio, Total Asset Turnover Dan Net Profit Margin Terhadap Profitabilitas. Jurnal Manajemen Strategi Dan Aplikasi Bisnis, 4(2), 409–420. https://ejournal.imperiuminstitute.org/index.php/JMSAB/article/view/332/234
Dewi, P. P., & Wardani, W. (2022). Green Accounting, Pengungkapan Corporate Social Responsibility dan Profitabilitas Perusahaan Manufaktur. E-Jurnal Akuntansi, 32(5), 1117. https://doi.org/10.24843/EJA.2022.v32.i05.p01
Fahad, & Busru, S. A. (2021). CSR disclosure and firm performance: evidence from an emerging market. Corporate Governance: The International Journal of Business in Society, 21(4), 553–568. https://doi.org/10.1108/CG-05-2020-0201
Febriana, H., Rismanty, V. A., Bertuah, E., Permata, S. U., Anismadiyah, V., Sembiring, L. D., Dewi, N. S., Jamaludin, Jatmiko, N. S., Inrawan, A., Astuti, W., & Dewi, I. K. (2021). Dasar Dasar Analisis Laporan Keuangan (J. Irnawati (ed.)). CV. Media Sains Indonesia.
Fitrifatun, N., & Meirini, D. (2024). Pengaruh Green Accounting, Kinerja Lingkungan, Ukuran Perusahaan dan Likuiditas terhadap Profitabilitas : Studi Empiris pada Perusahaan Pertambangan yang Terdaftar di Bursa Efek Indonesia Periode 2018-2022. Reslaj: Religion Education Social Laa Roiba Journal, 6(3), 822–841. https://doi.org/10.47467/reslaj.v6i3.649
Gultom, S. M. J. T., Sriwahyuni, F., Laura, C., & Sari, I. R. (2020). Pengaruh Likuiditas, Cash Flow Dan Pertumbuhan Penjualan Terhadap Profitabilitas Pada Perusahaan Pertanian. JAD : Jurnal Riset Akuntansi & Keuangan Dewantara, 3(2), 164–173. https://doi.org/10.26533/jad.v3i2.698
Hery. (2021). Analisis Laporan Keuangan : Intergrated and comperhesive (Adipramono (ed.)). PT Grasindo.
Hidayat, Y. M., Gautama, B. P., & Arianti, C. S. (2021). The Effect of Liquidity and Leverage on Profitability in Agricultural Sector Companies. Proceedings of the 5th Global Conference on Business, Management and Entrepreneurship (GCBME 2020), 98–102. https://doi.org/10.2991/aebmr.k.210831.021
Isa, W., & Mahardika, M. C. (2022). Effect of Solvency and Liquidity on The Profitability of Property Companies Listed on The Sharia Stock Index 2018-2020. EKONOMIKA SYARIAH : Journal of Economic Studies, 5(2). https://doi.org/10.30983/es.v5i2.4849
Jigeer, S., & Koroleva, E. (2023). The Determinants of Profitability in the City Commercial Banks: Case of China. Risks, 11(3), 53. https://doi.org/10.3390/risks11030053
Kasmir. (2019). Analisis Laporan Keuangan (Revisi). PT Raja Grafindo Persada.
Licandro, O., Burguete, J. L. V., Ortigueira-Sánchez, L. C., & Correa, P. (2024). Corporate Social Responsibility and Financial Performance: A Relationship Mediated by Stakeholder Satisfaction. Administrative Sciences, 14(1), 15. https://doi.org/10.3390/admsci14010015
Meiryani, Huang, S. M., Soepriyanto, G., Jessica, Fahlevi, M., Grabowska, S., & Aljuaid, M. (2023). The effect of voluntary disclosure on financial performance: Empirical study on manufacturing industry in Indonesia. PloS One, 18(6), e0285720. https://doi.org/10.1371/journal.pone.0285720
Melani, A. (2024, March 12). Melihat Kinerja Keuangan Emiten CPO pada 2023: AALI hingga BWPT. Liputan 6. https://www.liputan6.com/saham/read/5547399/melihat-kinerja-keuangan-emiten-cpo-pada-2023-aali-hingga-bwpt
Nguyen, T. T. C., Hong Le, A. T., & Nguyen, C. Van. (2024). The Impact of Liquidity and Corporate Efficiency on Profitability. Emerging Science Journal, 8(1), 180–191. https://doi.org/10.28991/ESJ-2024-08-01-013
Pharmacista, G. (2023). Corporate Social Responsibility (CSR) Strategy As a Legal Instrument To Improve Company Reputation. Jurnal Ekonomi, 12(04), 2015–2020. https://ejournal.seaninstitute.or.id/index.php/Ekonomi/article/view/3373
Pratiwi, A., Nurulrahmatia, N., & Muniarty, P. (2020). Pengaruh Corporate Social Responsibility (CSR) Terhadap Profitabilitas Pada Perusahaan Perbankan Yang Terdaftar di BEI. Owner, 4(1), 95. https://doi.org/10.33395/owner.v4i1.201
Prayanthi, I., & Budiarso, N. S. (2022). The effect of social responsibility disclosure on financial performance in the COVID-19 pandemic era. Cogent Business & Management, 9(1). https://doi.org/10.1080/23311975.2022.2147412
Rachmawati, S., & Jayanti, D. (2023). Pengaruh Human Capital, Green Banking Disclosure dan Likuiditas terhadap Profitabilitas. Portofolio: Jurnal Ekonomi, Bisnis, Manajemen, Dan Akuntansi, 20(1), 1–15. https://doi.org/10.26874/portofolio.v20i1.262
Rasyid, C. A. M. P., Indriani, E., & Hudaya, R. (2022). Pengaruh Corporate Social Responsibility Disclosure dan Struktur Modal terhadap Nilai Perusahaan dan Profitabilitas sebagai Variabel Moderasi pada Perusahaan Pertambangan. Jurnal Aplikasi Akuntansi, 7(1), 135–156. https://doi.org/10.29303/jaa.v7i1.146
Romli, & Zaputra, A. R. R. (2022). Pengaruh Implementasi Green Banking, Corporate Social Responsibility terhadap Nilai Perusahaan pada Perusahaan Perbankan yang terdaftar di BEI. Portofolio: Jurnal Ekonomi, Bisnis, Manajemen, Dan Akuntansi, 18(2), 36–59. https://doi.org/10.54783/portofolio.v18i2.214
Solikhah, I. (2022). Pengaruh Pengungkapan Corporate Social Responsibility (CSR) Terhadap Profitabilitas dan Manajemen Laba (Studi Empiris Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia (BEI) Tahun 2015-2017). Jurnal Akuntansi AKUNESA, 10(2), 94–106. https://doi.org/10.26740/akunesa.v10n2.p94-106
Thinh, T. Q., Thuy, L. X., & Tuan, D. A. (2022). The impact of liquidity on profitability – evidence of Vietnamese listed commercial banks. Banks and Bank Systems, 17(1), 94–103. https://doi.org/10.21511/bbs.17(1).2022.08
Widi, H. (2024, August 27). Pertanian Era Jokowi Tumbuh Melambat. Kompas. https://www.kompas.id/baca/ekonomi/2024/08/27/sektor-pertanian-tumbuh-merosot-dalam-satu-dekade-kepemimpinan-jokowi
Wijaya, A., & Novianto, R. A. (2024). Analisis Hubungan Kepatuhan Laporan Keberlanjutan terhadap Peraturan OJK dengan Kinerja Perusahaan. 8(April), 4955–4965. https://doi.org/10.33395/owner.v8i2.2348
Zega, E. H., & Wahyudi, I. (2023). Pengungkapan Corporate Social Responsibility, Struktur Modal, Likuiditas terhadap Profitabilitas. JIIP - Jurnal Ilmiah Ilmu Pendidikan, 6(11), 9160–9166. https://doi.org/10.54371/jiip.v6i11.2936
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