Kinerja ESG dan Manajemen Laba: Bukti Empiris pada Perusahaan Terbuka di Indonesia
DOI:
https://doi.org/10.35870/ljit.v4i2.8286Keywords:
kinerja ESG, manajemen laba, kualitas pelaporan keuangan, IndonesiaAbstract
Praktik manajemen laba masih menjadi isu penting dalam pelaporan keuangan karena dapat mengurangi kredibilitas informasi yang disajikan kepada para pemangku kepentingan. Namun, bukti empiris mengenai kemampuan kinerja Environmental, Social, and Governance (ESG) dalam membatasi praktik tersebut masih menunjukkan hasil yang beragam, terutama di negara berkembang. Penelitian ini bertujuan menganalisis hubungan antara kinerja ESG dan manajemen laba pada perusahaan nonkeuangan yang terdaftar di Bursa Efek Indonesia periode 2019–2023. Penelitian menggunakan data panel seimbang dengan model regresi efek tetap (fixed effects) dan cluster-robust standard errors. Manajemen laba diukur menggunakan akrual diskresioner, sedangkan kinerja ESG diproksikan dengan Refinitiv ESG Score satu tahun sebelumnya (one-year lagged). Hasil penelitian menunjukkan bahwa kinerja ESG periode sebelumnya berpengaruh negatif dan signifikan terhadap manajemen laba, yang mengindikasikan bahwa perusahaan dengan kinerja ESG yang lebih baik cenderung melakukan praktik pelaporan keuangan oportunistik yang lebih rendah. Analisis robustnes menunjukkan bahwa meskipun pandemi COVID-19 berkaitan dengan peningkatan manajemen laba, kondisi tersebut tidak memoderasi hubungan antara kinerja ESG dan manajemen laba secara signifikan. Temuan ini menegaskan pentingnya ESG dalam mendukung kualitas pelaporan keuangan serta memberikan implikasi bagi manajer, investor, dan regulator dalam mendorong praktik bisnis yang berkelanjutan dan transparan.
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