Sustainability Reporting dan Return Saham di Perusahaan Terindeks LQ45
Abstract
In recent years, investors have put pressure on companies to disclose more sustainability information. The purpose of this study was to determine the effect of the intensity of disclosure in sustainability reporting on stock returns. This research was conducted on companies with shares listed in the LQ45 index on the IDX. The number of samples taken was 17 companies, with a purposive sampling method. Data collection was carried out by documentation study. The analysis technique used is the panel data regression analysis technique. The results showed that the intensity of disclosure in sustainability reporting has no effect on stock returns. The high intensity of disclosure does not necessarily attract investors to invest and increase the company's stock return.
Keywords: Sustainability Reporting; Profitability; Company Size; Stock Return.
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References
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Anggraini, Dewi. (2015). “Proven Again : Corporate Social Responsibility As One Of Influential Factors Towards Stock Return.” European Journal of Business and Management 7(3):151–160.
Ansari, N., Cajias, M., & Bienert, S. (2015). “The Value Contribution of Sustainability reportinging – An Empirical Evidence For Real Estate Companies.” ACRN Oxford Journal of Finance and Risk Perspectives 4(4):190-205.
Antara, I. M. Y. & Suryantini, N. P. S. (2019). “Pengaruh Rasio Pasar Terhadap Return Saham Pada Saham Lq-45 Di Bursa Efek Indonesia.” E-Jurnal Manajemen 08(09):5507–5526.
Aji, B. S., & Juliarto, A. (2018). “Pengaruh Pengungkapan Sustainability reporting Terhadap Reaksi Investor Pada Perusahaan Sektor Pertambangan Dan Manufaktur Yang Terdaftar Di Bei Periode 2014 – 2015.” Diponegoro Journal Of Accounting 7(1):1-7.
Beaver, W. H., Kettler, P., & Scholes, M. (1970). The Association betwen market determined and accounting fetermined risk measures. Accounting Review, (45), 654–668.
Brigham, E. F. & J. F. Houston. (2011). Fundamentals of Financial Management. 9th ed. United States of America: Horcourt College.
Brundtland, G. H. (1987). Address at the Final Meeting of World Commission on Environment and Development (No. 0020t/W0006e/27.2.87-8/final/tokyo). Tokyo, Japan: World Commission on Environment and Development.
Candradewi, M. R. (2016). Pengaruh Kinerja Keuangan Terhadap Return Saham Pada Perusahaan Lq45 Di Bei: Analisis Regresi Data Panel. E-Jurnal Ekonomi Dan Bisnis Universitas Udayana, 5(7): 2091-2122.
Coulson, A. & N. O’Sullivan. (2014). Environmental and Social Assessment in Finance. Pp. 124–40 in In Sustainability Accounting and Accountability, edited by J. Bebbington, J. Unerman, and B. O’Dwyer. New York: Routledge.
Deegan, Craig. (2004). Financial Accounting Theory. Australia: McGraw-Hill Australia Pty. Limited
Dimson, E., & Marsh, P. (1999). Murphy’s law and market anomalies. Journal of Portfolio Management, 25(2): 53-69.
Du, S., Y, K., Bhattacharya, C. B., & Sen, S. (2017). The Business Case for Sustainability reportinging: Evidence from Stock Market Reactions. Journal of Public Policy and Marketing. 36 (2): 313-330.
Elkington, J. (1997). Cannibals With Forks, The Triple Bottom Line of 21stCentury Business. Oxford, UK: Capstone.
Epstein, Marc. J. & Martin Freedman. (1994). Social Disclosure and The Individual Investor. Accounting, Auditing, & Accountability Journal 4(7):94–109.
Ernst & Young. (2013). Value of Sustainability reportinging. USA: Boston College Carrol School of Management.
Glamedita, Lavenia. (2017). Hubungan Kinerja Keuangan dan Pengungkapan Sustainability reporting dengan Reaksi Pasar (Studi Empiris Pada Perusahaan Non-Keuangan di Bursa Efek Indonesia Tahun 2010-2014). (Skripsi). Yogyakarta: Universitas Sanata Dharma
Global Reporting Initiative. (2013). G4 Sustainability reportinging Guidelines. Amsterdam, The Netherlands: Global Reporting Initiative.
Handayani, M., Farlian, T., & Ardian. (2019). Firm Size, Market Risk, and Stock Return: Evidence from Indonesian Blue Chip Companies. Jurnal Dinamika Akuntansi dan Bisnis, 6(2), 171-182.
Har, W. P. & Ghafar, M.A.A. (2015). The Impact of Accounting Earnings on Stock Returns: The Case of Malaysia’s Plantation Industry. International Journal of Business and Management, 10(4): 155-165.
Haq, I. U. & Rashid, K. (2014). Stock Market Efficiency and Size of the Firm: Empirical Evidence from Pakistan. Oeconomics of Knowledge, 6(1): 10-31.
Husnan, S. & Pudjiastuti, E. (2015). Dasar-dasar Manajemen Keuangan Edisi Keempat. Yogyakarta: UPP AMP-YKPN.
Indonesia Stock Exchange (IDX). (2020). Indeks Saham.”Retrieved from (https://www.idx.co.id/produk/indeks/).
Ismaeel, M., & Zakaria, Z. (2019). Perception of preparers of sustainability reports in the Middle East Contrasting between local and global. Meditari Accountancy Research, 28(1): 89-116.
Jogiyanto, H. (2017). Teori Portofolio Dan Analisis Investasi. 7th ed. Yogyakarta: BPFE.
Joni & Lina. (2010). Faktor-Faktor yang Mempengaruhi Struktur Modal. Jurnal Bisnis dan Akuntansi, 12 (2): 81-96.
Karlina, S. & Widanaputra. (2016). Pengaruh Dividend Per Share, Return On Equity, Price To Book Value Pada Return Saham.” E-Jurnal Akuntansi Universitas Udayana 15(3):2082–2106.
Kholisah, N. (2013). Pengaruh Penerapan IFRS, Ukuran Perusahaan, Profitabilitas, dan Kompleksitas terhadap Audit Delay (Studi Empiris pada Perusahaan Manufaktur tahun 2008-2011). Skripsi. Jakarta: UIN Syarif Hidayatullah Jakarta
Mills, T. C., & Jordanov, J. V. (2000). Lead-lag Patterns Between Small and Large Size Portfolios in the London Stock Exchange. Journal of Applied Financial Economics, 11(5): 489-495.
Natalia, R. & J. Tarigan. (2014). Pengaruh Sustainability reporting Terhadap Kinerja Keuangan Perusahaan Publik Dari Sisi Profitability Ratio.” Bussines Accounting Review 2(1):111–120.
Nawawi, A. H. T., Agustia, D., Lusnadi, G. M., & Fauzi, H. (2020). Disclosure of Sustainability reporting Mediating Good Corporate Governance Mechanism on Stock Performance. Journal Of Security And Sustainability Issues. 9(J): 151-170.
Nelson, Mathew. (2017). How well are organizations disclosing their sustainability risks?.” Retrieved from: https://www.ey.com/en_id/assurance/how-well-are-organizations-disclosing-their-sustainability-risks
Norges Bank Investment Management. (2020). Shareholder Proposals On Sustainability (Asset Manager Perspective). Norges Bank Investment Management.
Nugroho, P. I. & Arjowo, I. S. (2014). The Effects Of Sustainability reporting Disclosure Towards Financial Performance. International Journal of Business and Management Studies 03(03):225–239.
Papadopoulos, Kosmas. (2019). The Long View: The Role of Shareholder Proposals in Shaping US Corporate Governance (2000-2018). ISS Analytics.
POJK Nomor 51/POJK.03//2017 Tentang Penerapan Keuangan Berkelanjutan Bagi Lembaga Jasa Keuangan, Emiten, dan Perusahaan Publik
Prayosho, I. S., Hananto, H. (2013). Pengaruh Sustainability reporting Terhadap Abnormal Return Saham Pada Badan Usaha Sektor Pertambangan Yang Terdaftar Di BEI Periode 2010-2012. Calyptra:Jurnal Ilmiah Mahasiswa Universitas Surabaya 2(2):1–12.
Putra, I. M. G. D., & Dana, I. M. (2016). Pengaruh Profitabilitas, Leverage, Likuiditas Dan Ukuran Perusahaan Terhadap Return Saham Perusahaan Farmasi Di Bei. E-Jurnal Manajemen Unud, 5(11), 6825-6850.
Reddy, K., & Gordon, L. W. 2010. “The Effect of Sustainability reportinging on Financial Performance: An Empirical Study Using Listed Companies.” Journal of Asia Entrepreneurship and Sustainability 6(2):19–42.
Rinaldi, L., J. Unerman, & C. A. Tilt. (2014). The Role of Stakeholder Engagement and Dialogue in the Sustainability Accounting and Reporting Process.” Pp. 86–107 in Sustainability Accounting and Accountability, edited by J. Bebbington, J. Unerman, and B. O’Dwyer. New York: Routledge.
Sailendra & Suratno. (2014). Faktor-Faktor Fundamental, Kondisi Makro Ekonomi dan Return Saham Perusahaan Pertambangan di Bursa Efek Indonesia. Jurnal Riset Akuntansi dan Perpajakan JRAP, 1(1): 1-14.
Santi, Galuh Tiara. (2014). Pengaruh Pengungkapan Corporate Social Responsibility Terhadap Return Saham: Studi Pada Perusahaan Peraih Penghargaan Isra Di Bei Tahun 2010-2012. Pp. 1–22 in UDiNus Repository.
Sasongko, N., & Wulandari, N. (2006). Pengaruh EVA dan Rasio-Rasio Profitabilitas Terhadap Harga Saham. Jurnal Empirika, 19(1):64-80.
Scott, Mike. (2020). Investors Step Up Pressure On Companies That Don’t Disclose Environmental Risks Forbes. Retrieved from: https://www.forbes.com/sites/mikescott/2020/06/09/investors-step-up-pressure-on-companies-that-dont-disclose-environmental risks/?sh=3e032445727f
Stekelenburg, A. V., Georgakopoulos, G., Sotiropoulou, V., & Vasileiou, K. Z. (2015). The Relation between Sustainability Performance and Stock Market Returns : An Empirical Analysis of the Dow Jones Sustainability Index Europe. International Journal of Economics and Finance, 7(7): 74–88.
Sudana, P., Sukoharsono, E. G., Ludigdo, U., & Irianto, G. (2014). A Philosophical Thought on Sustainability Accounting. Research. Journal of Finance and Accounting, 5(9):1-10.
Sudarsono, B., Sudiyatno, B. (2016). Faktor-Faktor Yang Mempengaruhi Return Saham Pada Perusahaan Property Dan Real Estate Yang Terdaftar Pada Bursa Efek Indonesia Tahun 2009 S/D 2014. urnal Bisnis dan Ekonomi (JBE), 23(1):30-51.
Sudiyatno, B., & Suharmanto, T. (2011). Kinerja Keuangan Konvensional, Economic Value Added, dan Return Saham. Jurnal Dinamika Manajemen, 2(1), 17–25.
Tang, D. Y., & Zhong, R. (2019). Mandatory Sustainability Disclosure and Stock Price Crash Risk. http://sfi.cuhk.edu.cn/uploads/paper/2019061208.pdf
Tanjung, P. R. S. & Wahyudi, S. M. 2019. Analysis the Effect Disclosure of Sustainability reporting , Economic Value Added and Other Fundamental Factors of Companies on Company Value. International Journal of Academic Research in Accounting, Finance and Management Sciences 9(2):237–249.
Tarigan, J. & Samuel, H. (2014). Pengungkapan Sustainability Report dan Kinerja Keuangan. Jurnal Akuntansi dan Keuangan, 16(2):88–101.
Tjahjono, M. E. S. (2017). Pengaruh Profitabilitas Terhadap Harga Saham (Studi Kasus Pada Perusahaan Makanan Dan Minuman Yang Terdaftar Di Bei Periode 2013-2015). Jurnal Riset Akuntansi Terpadu, 10(2): 152-165.
Utama, A. A. G. S., & Mirhard, R. R. (2016). The influence of sustainability reporting disclosure as moderating variable towards the impact of intellectual capital on company’s performance. International Journal of Economics and Financial Issues, 6(3): 1262-1269.
Vitola, F., & Rubino, M. (2017). Legitimacy theory and sustainability reporting. Evidence from Italy. 10th Annual Conference of the EuroMed Academy of Business, 1908-1921.
Widhiarso, W. (2011). Analisis Data Penelitian dengan Variabel Kontrol. Jurnal Fakultas Psikologi Universitas Gadjah Mada, 3(2), 62–79.
Wijaya, M. S. & Sudana, I. P. (2017). Pengaruh Sustainability reporting Pada Reaksi Pasar Dengan Kinerja Keuangan Sebagai Variabel Kontrol. E-Jurnal Akuntansi Universitas Udayana 21(1):616–642.
Wirasedana I. W. P., & Setiawan, P. E. (2020). Rasio-Rasio Keuangan Sebagai Prediktor Return Saham Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia. E-Jurnal Akuntansi, 30(6): 1508-1521.
Yuliantari W., N., & Sujana, I. (2014). Pengaruh Financial Ratio, Firm Size, Dan Cash Flow Operating Terhadap Return Share Perusahaan F&B. E-Jurnal Akuntansi, 7(3), 547-558.
Adiatma, K. B. & Suryanawa, I. K. (2018). “Pengaruh Tipe Industri, Kepemilikan Saham Pemerintah, Profitabilitas Terhadap Sustainability Report.” e-Jurnal Akuntansi, 25(2): 934-958.
Al-Rojoub, S.A.M., Varela, O. & Hassan, M.K. (2005). “The Size Effect Reversal in the USA. ” Journal of Applied Financial Economics, 15: 1189-1197.
Anggraini, Dewi. (2015). “Proven Again : Corporate Social Responsibility As One Of Influential Factors Towards Stock Return.” European Journal of Business and Management 7(3):151–160.
Ansari, N., Cajias, M., & Bienert, S. (2015). “The Value Contribution of Sustainability reportinging – An Empirical Evidence For Real Estate Companies.” ACRN Oxford Journal of Finance and Risk Perspectives 4(4):190-205.
Antara, I. M. Y. & Suryantini, N. P. S. (2019). “Pengaruh Rasio Pasar Terhadap Return Saham Pada Saham Lq-45 Di Bursa Efek Indonesia.” E-Jurnal Manajemen 08(09):5507–5526.
Aji, B. S., & Juliarto, A. (2018). “Pengaruh Pengungkapan Sustainability reporting Terhadap Reaksi Investor Pada Perusahaan Sektor Pertambangan Dan Manufaktur Yang Terdaftar Di Bei Periode 2014 – 2015.” Diponegoro Journal Of Accounting 7(1):1-7.
Beaver, W. H., Kettler, P., & Scholes, M. (1970). The Association betwen market determined and accounting fetermined risk measures. Accounting Review, (45), 654–668.
Brigham, E. F. & J. F. Houston. (2011). Fundamentals of Financial Management. 9th ed. United States of America: Horcourt College.
Brundtland, G. H. (1987). Address at the Final Meeting of World Commission on Environment and Development (No. 0020t/W0006e/27.2.87-8/final/tokyo). Tokyo, Japan: World Commission on Environment and Development.
Candradewi, M. R. (2016). Pengaruh Kinerja Keuangan Terhadap Return Saham Pada Perusahaan Lq45 Di Bei: Analisis Regresi Data Panel. E-Jurnal Ekonomi Dan Bisnis Universitas Udayana, 5(7): 2091-2122.
Coulson, A. & N. O’Sullivan. (2014). Environmental and Social Assessment in Finance. Pp. 124–40 in In Sustainability Accounting and Accountability, edited by J. Bebbington, J. Unerman, and B. O’Dwyer. New York: Routledge.
Deegan, Craig. (2004). Financial Accounting Theory. Australia: McGraw-Hill Australia Pty. Limited
Dimson, E., & Marsh, P. (1999). Murphy’s law and market anomalies. Journal of Portfolio Management, 25(2): 53-69.
Du, S., Y, K., Bhattacharya, C. B., & Sen, S. (2017). The Business Case for Sustainability reportinging: Evidence from Stock Market Reactions. Journal of Public Policy and Marketing. 36 (2): 313-330.
Elkington, J. (1997). Cannibals With Forks, The Triple Bottom Line of 21stCentury Business. Oxford, UK: Capstone.
Epstein, Marc. J. & Martin Freedman. (1994). Social Disclosure and The Individual Investor. Accounting, Auditing, & Accountability Journal 4(7):94–109.
Ernst & Young. (2013). Value of Sustainability reportinging. USA: Boston College Carrol School of Management.
Glamedita, Lavenia. (2017). Hubungan Kinerja Keuangan dan Pengungkapan Sustainability reporting dengan Reaksi Pasar (Studi Empiris Pada Perusahaan Non-Keuangan di Bursa Efek Indonesia Tahun 2010-2014). (Skripsi). Yogyakarta: Universitas Sanata Dharma
Global Reporting Initiative. (2013). G4 Sustainability reportinging Guidelines. Amsterdam, The Netherlands: Global Reporting Initiative.
Handayani, M., Farlian, T., & Ardian. (2019). Firm Size, Market Risk, and Stock Return: Evidence from Indonesian Blue Chip Companies. Jurnal Dinamika Akuntansi dan Bisnis, 6(2), 171-182.
Har, W. P. & Ghafar, M.A.A. (2015). The Impact of Accounting Earnings on Stock Returns: The Case of Malaysia’s Plantation Industry. International Journal of Business and Management, 10(4): 155-165.
Haq, I. U. & Rashid, K. (2014). Stock Market Efficiency and Size of the Firm: Empirical Evidence from Pakistan. Oeconomics of Knowledge, 6(1): 10-31.
Husnan, S. & Pudjiastuti, E. (2015). Dasar-dasar Manajemen Keuangan Edisi Keempat. Yogyakarta: UPP AMP-YKPN.
Indonesia Stock Exchange (IDX). (2020). Indeks Saham.”Retrieved from (https://www.idx.co.id/produk/indeks/).
Ismaeel, M., & Zakaria, Z. (2019). Perception of preparers of sustainability reports in the Middle East Contrasting between local and global. Meditari Accountancy Research, 28(1): 89-116.
Jogiyanto, H. (2017). Teori Portofolio Dan Analisis Investasi. 7th ed. Yogyakarta: BPFE.
Joni & Lina. (2010). Faktor-Faktor yang Mempengaruhi Struktur Modal. Jurnal Bisnis dan Akuntansi, 12 (2): 81-96.
Karlina, S. & Widanaputra. (2016). Pengaruh Dividend Per Share, Return On Equity, Price To Book Value Pada Return Saham.” E-Jurnal Akuntansi Universitas Udayana 15(3):2082–2106.
Kholisah, N. (2013). Pengaruh Penerapan IFRS, Ukuran Perusahaan, Profitabilitas, dan Kompleksitas terhadap Audit Delay (Studi Empiris pada Perusahaan Manufaktur tahun 2008-2011). Skripsi. Jakarta: UIN Syarif Hidayatullah Jakarta
Mills, T. C., & Jordanov, J. V. (2000). Lead-lag Patterns Between Small and Large Size Portfolios in the London Stock Exchange. Journal of Applied Financial Economics, 11(5): 489-495.
Natalia, R. & J. Tarigan. (2014). Pengaruh Sustainability reporting Terhadap Kinerja Keuangan Perusahaan Publik Dari Sisi Profitability Ratio.” Bussines Accounting Review 2(1):111–120.
Nawawi, A. H. T., Agustia, D., Lusnadi, G. M., & Fauzi, H. (2020). Disclosure of Sustainability reporting Mediating Good Corporate Governance Mechanism on Stock Performance. Journal Of Security And Sustainability Issues. 9(J): 151-170.
Nelson, Mathew. (2017). How well are organizations disclosing their sustainability risks?.” Retrieved from: https://www.ey.com/en_id/assurance/how-well-are-organizations-disclosing-their-sustainability-risks
Norges Bank Investment Management. (2020). Shareholder Proposals On Sustainability (Asset Manager Perspective). Norges Bank Investment Management.
Nugroho, P. I. & Arjowo, I. S. (2014). The Effects Of Sustainability reporting Disclosure Towards Financial Performance. International Journal of Business and Management Studies 03(03):225–239.
Papadopoulos, Kosmas. (2019). The Long View: The Role of Shareholder Proposals in Shaping US Corporate Governance (2000-2018). ISS Analytics.
POJK Nomor 51/POJK.03//2017 Tentang Penerapan Keuangan Berkelanjutan Bagi Lembaga Jasa Keuangan, Emiten, dan Perusahaan Publik
Prayosho, I. S., Hananto, H. (2013). Pengaruh Sustainability reporting Terhadap Abnormal Return Saham Pada Badan Usaha Sektor Pertambangan Yang Terdaftar Di BEI Periode 2010-2012. Calyptra:Jurnal Ilmiah Mahasiswa Universitas Surabaya 2(2):1–12.
Putra, I. M. G. D., & Dana, I. M. (2016). Pengaruh Profitabilitas, Leverage, Likuiditas Dan Ukuran Perusahaan Terhadap Return Saham Perusahaan Farmasi Di Bei. E-Jurnal Manajemen Unud, 5(11), 6825-6850.
Reddy, K., & Gordon, L. W. 2010. “The Effect of Sustainability reportinging on Financial Performance: An Empirical Study Using Listed Companies.” Journal of Asia Entrepreneurship and Sustainability 6(2):19–42.
Rinaldi, L., J. Unerman, & C. A. Tilt. (2014). The Role of Stakeholder Engagement and Dialogue in the Sustainability Accounting and Reporting Process.” Pp. 86–107 in Sustainability Accounting and Accountability, edited by J. Bebbington, J. Unerman, and B. O’Dwyer. New York: Routledge.
Sailendra & Suratno. (2014). Faktor-Faktor Fundamental, Kondisi Makro Ekonomi dan Return Saham Perusahaan Pertambangan di Bursa Efek Indonesia. Jurnal Riset Akuntansi dan Perpajakan JRAP, 1(1): 1-14.
Santi, Galuh Tiara. (2014). Pengaruh Pengungkapan Corporate Social Responsibility Terhadap Return Saham: Studi Pada Perusahaan Peraih Penghargaan Isra Di Bei Tahun 2010-2012. Pp. 1–22 in UDiNus Repository.
Sasongko, N., & Wulandari, N. (2006). Pengaruh EVA dan Rasio-Rasio Profitabilitas Terhadap Harga Saham. Jurnal Empirika, 19(1):64-80.
Scott, Mike. (2020). Investors Step Up Pressure On Companies That Don’t Disclose Environmental Risks Forbes. Retrieved from: https://www.forbes.com/sites/mikescott/2020/06/09/investors-step-up-pressure-on-companies-that-dont-disclose-environmental risks/?sh=3e032445727f
Stekelenburg, A. V., Georgakopoulos, G., Sotiropoulou, V., & Vasileiou, K. Z. (2015). The Relation between Sustainability Performance and Stock Market Returns : An Empirical Analysis of the Dow Jones Sustainability Index Europe. International Journal of Economics and Finance, 7(7): 74–88.
Sudana, P., Sukoharsono, E. G., Ludigdo, U., & Irianto, G. (2014). A Philosophical Thought on Sustainability Accounting. Research. Journal of Finance and Accounting, 5(9):1-10.
Sudarsono, B., Sudiyatno, B. (2016). Faktor-Faktor Yang Mempengaruhi Return Saham Pada Perusahaan Property Dan Real Estate Yang Terdaftar Pada Bursa Efek Indonesia Tahun 2009 S/D 2014. urnal Bisnis dan Ekonomi (JBE), 23(1):30-51.
Sudiyatno, B., & Suharmanto, T. (2011). Kinerja Keuangan Konvensional, Economic Value Added, dan Return Saham. Jurnal Dinamika Manajemen, 2(1), 17–25.
Tang, D. Y., & Zhong, R. (2019). Mandatory Sustainability Disclosure and Stock Price Crash Risk. http://sfi.cuhk.edu.cn/uploads/paper/2019061208.pdf
Tanjung, P. R. S. & Wahyudi, S. M. 2019. Analysis the Effect Disclosure of Sustainability reporting , Economic Value Added and Other Fundamental Factors of Companies on Company Value. International Journal of Academic Research in Accounting, Finance and Management Sciences 9(2):237–249.
Tarigan, J. & Samuel, H. (2014). Pengungkapan Sustainability Report dan Kinerja Keuangan. Jurnal Akuntansi dan Keuangan, 16(2):88–101.
Tjahjono, M. E. S. (2017). Pengaruh Profitabilitas Terhadap Harga Saham (Studi Kasus Pada Perusahaan Makanan Dan Minuman Yang Terdaftar Di Bei Periode 2013-2015). Jurnal Riset Akuntansi Terpadu, 10(2): 152-165.
Utama, A. A. G. S., & Mirhard, R. R. (2016). The influence of sustainability reporting disclosure as moderating variable towards the impact of intellectual capital on company’s performance. International Journal of Economics and Financial Issues, 6(3): 1262-1269.
Vitola, F., & Rubino, M. (2017). Legitimacy theory and sustainability reporting. Evidence from Italy. 10th Annual Conference of the EuroMed Academy of Business, 1908-1921.
Widhiarso, W. (2011). Analisis Data Penelitian dengan Variabel Kontrol. Jurnal Fakultas Psikologi Universitas Gadjah Mada, 3(2), 62–79.
Wijaya, M. S. & Sudana, I. P. (2017). Pengaruh Sustainability reporting Pada Reaksi Pasar Dengan Kinerja Keuangan Sebagai Variabel Kontrol. E-Jurnal Akuntansi Universitas Udayana 21(1):616–642.
Wirasedana I. W. P., & Setiawan, P. E. (2020). Rasio-Rasio Keuangan Sebagai Prediktor Return Saham Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia. E-Jurnal Akuntansi, 30(6): 1508-1521.
Yuliantari W., N., & Sujana, I. (2014). Pengaruh Financial Ratio, Firm Size, Dan Cash Flow Operating Terhadap Return Share Perusahaan F&B. E-Jurnal Akuntansi, 7(3), 547-558.
Published
2021-06-26
How to Cite
WEDA, Nyoman; SUDANA, I Putu.
Sustainability Reporting dan Return Saham di Perusahaan Terindeks LQ45.
E-Jurnal Akuntansi, [S.l.], v. 31, n. 6, p. 1356-1374, june 2021.
ISSN 2302-8556.
Available at: <https://ojs.unud.ac.id/index.php/akuntansi/article/view/72507>. Date accessed: 14 nov. 2024.
doi: https://doi.org/10.24843/EJA.2021.v31.i06.p01.
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