Environmental, Social, and Governance Performance dan Manajemen Laba: Political Connection sebagai Moderasi

Rahma Tarisa; Abdul Rohman

doi:10.47709/jebma.v6i2.8655

Authors

Rahma Tarisa Universitas Diponegoro
Abdul Rohman

DOI:

https://doi.org/10.47709/jebma.v6i2.8655

Keywords:

ESG Performance, Indonesia, Manajemen laba, Political connection, Regresi data panel

Abstract

Praktik manajemen laba masih menjadi isu penting. ESG performance diduga dapat menekan perilaku oportunistik manajemen, namun peran political connection dalam hubungan ini masih kurang dieksplorasi, khususnya di Indonesia. Penelitian bertujuan untuk menguji pengaruh ESG performance terhadap manajemen laba serta peran moderasi political connection pada perusahaan non-keuangan di Indonesia periode 2019–2023. Sampel terdiri dari 38 perusahaan yang terdaftar di BEI (190 observasi). Manajemen laba diukur dengan discretionary accruals model (Kothari et al., 2005), ESG performance dengan skor Refinitiv Eikon, dan political connection dengan variabel dummy. Analisis menggunakan regresi data panel Fixed Effect Model (FEM) dan robust standard error. Hasil penelitian menunjukkan ESG performance berpengaruh negatif signifikan terhadap manajemen laba (koefisien = -0,0015978, p = 0,002). Namun, political connection tidak memoderasi hubungan tersebut (koefisien interaksi ESG×PC = 0,0000588, p = 0,918). Variabel kontrol ukuran perusahaan (SIZE) berpengaruh positif signifikan (koefisien = 0,0848544, p = 0,004), leverage (LEV) tidak signifikan (koefisien =0,0924663p = 0,104). COVID-19 berpengaruh negatif signifikan (koefisien = -0,0287749, p = 0,000) mengindikasikan perusahaan lebih konservatif saat pandemi. Penelitian ini menghadirkan bukti dari negara berkembang dengan karakteristik hubungan bisnis politik yang kuat. Temuan bahwa political connection tidak memoderasi hubungan tersebut memberikan perspektif baru bahwa ESG performance dapat berfungsi secara independen sebagai mekanisme pengendalian, terlepas dari ada atau tidaknya pengaruh politik perusahaan. Regulator dan investor dapat menjadikan skor ESG sebagai sinyal kualitas laba.

Author Biography

Abdul Rohman

Departemen Akuntansi, Universitas Diponegoro, Indonesia

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