Analisis Determinan Faktor-Faktor yang Mempengaruhi Pengungkapan Tanggung Jawab Sosial dan Pengaruhnya terhadap Reaksi Investor pada Industri Manufaktur Bursa Efek Indonesia Periode 2004 – 2008

Abstract

The purpose of this research is to test and to give empirical evidence about the influence of Corporate Social Responsibility on investors reaction partially and simultaneously in manufacturing companies that listed in Jakarta Indonesia Stock Exchange period 2004 – 2008 whereby, Corporate Social Responsibility is proxied by company size, profitability, leverage, Board of Directors size and company age. This research is explanatory research, data used are secondary data, with 151 companies as population. Samples are taken based on cluster proportional random sampling or sample group are taken 33 companies that represented every business field in manufacturing sector. Research data are tested by multiple linear regressions. The result of this research proved that companies size, profitability, leverage, board of directors size and companies age are factors that influence CSR in manufacturing industry companies. Companies size, profitability, leverage, board of directors size, companies age and CSR influence investors reaction in manufacturing firms that listed in Jakarta Indonesia Stock Exchange period 2004 – 2008 partially and simultaneously and profitability is a dominant variable that influence investors reaction.

Penelitian ini bertujuan untuk menguji dan memberikan bukti empiris tentang pengaruh Corporate Social Responsibility terhadap reaksi investor baik secara parsial maupun secara simultan di perusahaan industri manufaktur yang terdaftar di Bursa Efek Indonesia periode 2004 – 2008, dimana Corporate Social Responsibility yang diproksikan oleh ukuran perusahaan, profitabilitas, leverage, ukuran dewan komisaris, dan umur perusahaan industri Jenis penelitian ini adalah penelitian penjelasan, data yang digunakan adalah data sekunder, dengan populasi sebesar 151 perusahaan. Pengambilan sampel berdasarkan metode cluster propotional random sampling atau sampel kelompok diperoleh 33 perusahaan yang mewakili tiap-tiap bidang usaha di sektor manufaktur. Data penelitian diuji dengan Regresi Linier Berganda Hasil membuktikan bahwa ukuran perusahaan, profitabilitas, leverage, ukuran dewan komisaris dan umur perusahaan merupakan faktor faktor yang dapat mempengaruhi CSR perusahaan industri manufaktur. Dan ukuran perusahaan, profitabilitas, leverage, ukuran dewan komisaris, usia perusahaan, dan CSR berpengaruh terhadap reaksi investor industri manufaktur di Bursa Efek Indonesia periode 2004 – 2008 baik secara parsial maupun secara simultan, dan besarnya profitabilitas merupakan variabel yang paling dominan pengaruhnya terhadap Reaksi Investor.