Pengungkapan Tanggung Jawab Sosial Terstandarisasi, Kredibilitas Manajemen, dan Manajemen Laba

  • Eko Budi Santoso Fakultas Ekonomi dan Bisnis Universitas Airlangga, Indonesia
  • Basuki Basuki Fakultas Ekonomi dan Bisnis Universitas Airlangga, Indonesia
  • Isnalita Isnalita Fakultas Ekonomi dan Bisnis Universitas Airlangga, Indonesia


This study aims to examine the effect of standardized social responsibility disclosure on earnings management and the role of management credibility in this relationship. The research sample is a company going public in the non-financial sector on the Indonesia Stock Exchange that has disclosed GRI-based social responsibility for the 2013-2019 period. The analysis technique used in this study is moderated regression analysis (MRA). The results of the study found that disclosure of social responsibility has a negative effect on earnings management and management credibility strengthens this relationship. The results of the study indicate that companies that put more effort into disclosing their social responsibility through standardized disclosures will reduce earnings management practices and this is reinforced by the existence of a credible management team. The novelty of this study lies in the use of a comprehensive index in measuring social responsibility disclosure which is a combination of aspects of accountability and performance, as well as the formulation of management credibility measurements.

Keywords: Corporate Social Responsibility; Earnings Management; Management Credibility


Download data is not yet available.

Author Biographies

Basuki Basuki, Fakultas Ekonomi dan Bisnis Universitas Airlangga, Indonesia


Isnalita Isnalita, Fakultas Ekonomi dan Bisnis Universitas Airlangga, Indonesia



Adhikari, H. P., Bulmash, S. B., Krolikowski, M. W., & Sah, N. B. (2015). Dynamics of CEO compensation: Old is gold. Quarterly Review of Economics and Finance, 57, 191–206.

Alejo, J., Montes-rojas, G., & Galvao, A. (2015). Tests for normality in linear panel-data models. 3, 822–832.

Ali, A., & Zhang, W. (2015). CEO tenure and earnings management. Journal of Accounting and Economics, 59(1), 60–79.

Alqatamin, R. M., Aribi, Z. A., & Arun, T. (2017). The effect of the CEO’s characteristics on EM: Evidence from Jordan. International Journal of Accounting and Information Management, 25(3), 356–375.

Amelia, A., & Eriandani, R. (2021). Ceo Characteristics and Earnings Management: Evidence From Indonesia. Journal of Management and Business, 20(2), 51–63.

Araujo, F. (2009). Ethics: the Key to Credibility. Finance & Bien Commun, 33(1), 68–77.

Arena, C., Liong, R., & Vourvachis, P. (2018). Carrot or stick: CSR disclosures by Southeast Asian companies. Sustainability Accounting, Management and Policy Journal, 9(4), 422–454.

Asni, N., & Agustia, D. (2021). The mediating role of financial performance in the relationship between green innovation and firm value: evidence from ASEAN countries. European Journal of Innovation Management.

Axjonow, A., Ernstberger, J., & Pott, C. (2018). The Impact of Corporate Social Responsibility Disclosure on Corporate Reputation: A Non-professional Stakeholder Perspective. Journal of Business Ethics, 151(2), 429–450.

Benmelech, E., & Frydman, C. (2015). Military CEOs. Journal of Financial Economics, 117(1), 43–59.

Bozzolan, S., Fabrizi, M., Mallin, C. A., & Michelon, G. (2015). Corporate social responsibility and earnings quality: International evidence. The International Journal of Accounting, 50(4), 361–396.

Cai, C., Hasan, I., Shen, Y., & Wang, S. (2021). Military directors, governance and firm behavior. Advances in Accounting, 55(October), 1–14.

Chintrakarn, P., Jiraporn, P., & Treepongkaruna, S. (2021). How do independent directors view corporate social responsibility (CSR) during a stressful time? Evidence from the financial crisis. International Review of Economics and Finance, 71(April 2019), 143–160.

Cho, E., & Chun, S. (2016). Corporate social responsibility, real activities earnings management, and corporate governance: evidence from Korea. Asia-Pacific Journal of Accounting and Economics, 23(4), 400–431.

Choi, B. B., Lee, D., & Park, Y. (2013). Corporate social responsibility, corporate governance and earnings quality: Evidence from Korea. Corporate Governance: An International Review, 21(5), 447–467.

Choi, T. H., & Pae, J. (2011). Business Ethics and Financial Reporting Quality: Evidence from Korea. Journal of Business Ethics, 103(3), 403–427.

Crossley, R. M., Elmagrhi, M. H., & Ntim, C. G. (2021). Sustainability and legitimacy theory: The case of sustainable social and environmental practices of small and medium-sized enterprises. Business Strategy and the Environment, 30(8), 3740–3762.

Cuadrado-ballesteros, B., Martínez-ferrero, J., & García-sánchez, I. M. (2017). Mitigating information asymmetry through sustainability assurance : The role of accountants and levels of assurance. International Business Review, 26(6), 1141–1156.

Dechow, P. M., Sloan, R. G., & Sweeney, A. (1995). Detecting Earnings Management. The Accounting Review, 70(2), 193–225.

Deegan, C. (2002). Introduction: The legitimising effect of social and environmental disclosures – a theoretical foundation. Accounting, Auditing & Accountability Journal, 15(3), 282–311.

Effiezal Aswadi Abdul, W., Nik Abdul Majid, W. Z., Harymawan, I., & Agustia, D. (2020). Characteristics of auditors’ non-audit services and accruals quality in Malaysia. Pacific Accounting Review, 32(2), 147–175.

Ehsan, S., Nurunnabi, M., Tahir, S., & Hashmi, M. H. (2020). Earnings management: A new paradigm of corporate social responsibility. Business and Society Review, 125(3), 349–369.

Firmansyah, A., & Irwanto, A. (2020). Do Income Smoothing , Forward-Looking Disclosure , and Corporate Social Responsibility Decrease Information Uncertainty ? International Journal of Psychosocial Rehabilitation, 24(07), 9513–9525.

Gounopoulos, D., & Pham, H. (2018). Financial Expert CEOs and Earnings Management Around Initial Public Offerings. International Journal of Accounting, 53(2), 102–117.

Gras-Gil, E., Palacios Manzano, M., & Hernández Fernández, J. (2016). Investigating the relationship between corporate social responsibility and earnings management: Evidence from Spain. BRQ Business Research Quarterly, 19(4), 289–299.

Habib, A., & Hossain, M. (2013). CEO/CFO characteristics and financial reporting quality: A review. Research in Accounting Regulation, 25(1), 88–100.

Hahn, R., & Lülfs, R. (2014). Legitimizing negative aspects in GRI-oriented sustainability reporting: A qualitative analysis of corporate disclosure strategies. Journal of Business Ethics, 123(3), 401–420.

Harymawan, I., Nasih, M., & Nowland, J. (2020). Top management team meetings and firm performance. Accounting Research Journal, 33(6), 691–708.

Hashim, F., Ahmed, E. R., & Huey, Y. M. (2019). Board Diversity and Earning Quality : Examining the Role of Internal Audit as a Moderator. Australasian Accounting Business & Finance Journal, 13(4), 73–91.

Hoechle, D. (2007). Robust standard errors for panel regressions with cross-sectional dependence. Stata Journal, 7(3), 281–312.

Hoi, C. K., Wu, Q., & Zhang, H. (2013). Is corporate social responsibility (CSR) associated with tax avoidance? Evidence from irresponsible CSR activities. The Accounting Review, 88(6), 2025–2059.

Hsieh, Y. T., Chen, T. K., Tseng, Y. J., & Lin, R. C. (2018). Top management team characteristics and accrual-based earnings management. International Journal of Accounting, 53(4), 314–334.

Hsueh, J. W. J. (2018). Governance Structure and the Credibility Gap: Experimental Evidence on Family Businesses’ Sustainability Reporting. Journal of Business Ethics, 153(2), 547–568.

Huaman-Ramirez, R., & Merunka, D. (2021). Celebrity CEOs’ credibility, image of their brands and consumer materialism. Journal of Consumer Marketing, 38(6), 638–651.
Husnaint, W., & Basuki, B. (2020). ASEAN Corporate Governance Scorecard: Sustainability Reporting and Firm Value. Journal of Asian Finance, Economics and Business, 7(11), 315–326.

Ipino, E., & Parbonetti, A. (2017). Mandatory IFRS adoption: the trade-off between accrual-based and real earnings management. Accounting and Business Research, 47(1), 91–121.

Irawan, D., Astuti, S. W. W., & Afifah, N. (2021). the Effect of Corporate Social Responsibility Disclosure on Earning Management and Firm Value: Evidence from Indonesia. Journal of Asian Finance, Economics and Business, 8(7), 0103–0109.

Isnalita, & Narsa, I. M. (2017). CSR Disclosure, Customer Loyalty, and Firm Values (Study at Mining Company Listed in Indonesia Stock Exchange). Asian Journal of Accounting Research, 2(2), 8–14.

Jones, J. J. (1991). Earnings management during import relief investigations. Journal of Accounting Research, 29(2), 193–228.

Jordaan, L. A., de Klerk, M., & de Villiers, C. J. (2018). Corporate social responsibility and earnings management of South African companies. South African Journal of Economic and Management Sciences, 21(1), 1–13.

Kepramareni, P., Yulistiatuti, I. A. N., & Suarningsih, N. W. A. (2020). Profitabilitas, Karakter Eksekutif, Kepemilikan Keluarga Dan Tax Avoidance Perusahaan. Jurnal Bisnis Terapan, 04(01), 93–105.

Kim, S. H., Udawatte, P., & Yin, J. (2018). The Effects of Corporate Social Responsibility on Real and Accrual-based Earnings Management: Evidence from China. Australian Accounting Review, 29(3), 580–594.

Kim, T. Y., Bateman, T. S., Gilbreath, B., & Andersson, L. M. (2009). Top management credibility and employee cynicism: A comprehensive model. Human Relations, 62(10), 1435–1458.

Kim, Y., Park, M. S., & Wier, B. (2012). Is earnings quality associated with corporate social responsibility? The Accounting Review, 87(3), 761–796.

Kothari, S. P., Leone, A. J., & Wasley, C. E. (2005). Performance matched discretionary accrual measures. Journal of Accounting and Economics, 39(1), 163–197.

KPMG. (2020). The KPMG Survey of Sustainability Reporting 2020. In KPMG.

Kuo, Y. F., Lin, Y. M., & Chien, H. F. (2021). Corporate social responsibility, enterprise risk management, and real earnings management: Evidence from managerial confidence. Finance Research Letters, 41(October 2020), 101805.

Larasati, M. D., & Az’mi, Y. U. (2023). Pengaruh Pengungkapan Corporate Social Responsibility terhadap Praktik Manajemen Laba dengan Dewan Komisaris Independen sebagai Variabel Moderasi. E-Journal Akuntansi, 33(2), 331–345.

Li, C., Tseng, Y., & Chen, T. K. (2016). Top management team expertise and corporate real earnings management activities. Advances in Accounting, 34, 117–132.

Mahrani, M., & Soewarno, N. (2018). The effect of good corporate governance mechanism and corporate social responsibility on financial performance with earnings management as mediating variable. Asian Journal of Accounting Research, 3(1), 41–60.

Mallin, C. A., & Michelon, G. (2011). Board reputation attributes and corporate social performance: An empirical investigation of the US Best Corporate Citizens. Accounting and Business Research, 41(2), 119–144.

Martínez-Ferrero, J., Rodríguez-Ariza, L., & García-Sánchez, I.-M. (2016). Corporate social responsibility as an entrenchment strategy, with a focus on the implications of family ownership. Journal of Cleaner Production, 135, 760–770.

Md Nasir, N. A. binti, Ali, M. J., Razzaque, R. M. R., & Ahmed, K. (2018). Real earnings management and fi nancial statement fraud : evidence from Malaysia. International Journal of Accounting & Information Management, 26(4), 508–526.

Md Zaini, S., Samkin, G., Sharma, U., & Davey, H. (2018). Voluntary disclosure in emerging countries: a literature review. Journal of Accounting in Emerging Economies, 8(1), 29–65.

Mercer, M. (2004). How do investors assess the credibility of management disclosures? Accounting Horizons, 18(3), 185–196.

Michelon, G., Pilonato, S., & Ricceri, F. (2015). CSR reporting practices and the quality of disclosure: An empirical analysis. Critical Perspectives on Accounting, 33(Dec), 59–78.

Mubarokah, R. M., & Agustia, D. (2020). Effect of Corporate Social Responsibility (CSR) disclosure to earnings management with effectiveness of the audit committee as a moderation variable. International Journal of Innovation, Creativity and Change, 10(12), 392–410.

Muliati, Mayapada, A. G., & Pattawe, A. (2021). Do Corporate Social Responsibility and Investor Protection Limit Earnings Management? Evidence from Indonesia and Malaysia. Journal of Accounting and Investment, 22(3), 482–499.

Muttakin, M. B., Khan, A., & Azim, M. I. (2015). Corporate social responsibility disclosures and earnings quality: Are they a reflection of managers’ opportunistic behavior? Managerial Auditing Journal, 30(3), 277–298.
Nasution, R. M., & Adhariani, D. (2016). Simbolis Atau Substantif? Analisis Praktik Pelaporan Csr Dan Kualitas Pengungkapan (Symbolic Or Substantive? Analysis Of Csr Reporting Practices And The Quality Of Disclosure). Jurnal Akuntansi Dan Keuangan Indonesia, 13(1), 23–51.

Popli, M., Raithatha, M., & Goyal, L. (2022). Avoiding the risk of de-legitimation: Impact of internationalization on earnings management of emerging market firms. Finance Research Letters, 48(May), 1–8.

Pornpitakpan, C. (2004). The Persuasiveness of Source Credibility: A Critical Review of Five Decades’ Evidence. Journal of Applied Social Psychology, 34(2), 243–281.

Prior, D., Surroca, J., & Tribó, J. A. (2008). Are socially responsible managers really ethical? Exploring the relationship between earnings management and corporate social responsibility. Corporate Governance, 16(3), 160–177.

Qiu, S. (Charles), Jiang, J., Liu, X., Chen, M. H., & Yuan, X. (2021). Can corporate social responsibility protect firm value during the COVID-19 pandemic? International Journal of Hospitality Management, 93(November 2020), 102759.

Ratri, M. C., Harymawan, I., & Kamarudin, K. A. (2021). Busyness, tenure, meeting frequency of the ceos, and corporate social responsibility disclosure. Sustainability (Switzerland), 13(10), 1–22.

Roberts, P. W., & Dowling, G. R. (2002). Corporate reputation and sustained superior financial performance. Strategic Management Journal, 23(12), 1077–1093.

Ruwanti, G., Chandrarin, G., & Assih, P. (2019). Corporate social responsibility and earnings management: The role of corporate governance. Humanities and Social Sciences Reviews, 7(5), 1338–1347.

Setiawan, D., Prabowo, R., Arnita, V., & Wibawa, A. (2019). Does Corporate Social Responsibility Affect Earnings Management? Evidence from The Indonesian Banking Industry. Business: Theory and Practice, 20, 372–378.

Shi, H., Liu, H., & Wu, Y. (2022). Are socially responsible firms responsible to accounting? A meta-analysis of the relationship between corporate social responsibility and earnings management. Journal of Financial Reporting and Accounting.

Stuart, A. C., Bedard, J. C., & Clark, C. E. (2021). Corporate Social Responsibility Disclosures and Investor Judgments in Difficult Times: The Role of Ethical Culture and Assurance. Journal of Business Ethics, 171(3), 565–582.

Sun, N., Salama, A., Hussainey, K., & Habbash, M. (2010). Corporate environmental disclosure, corporate governance and earnings management. Managerial Auditing Journal, 25(7), 679–700.

Tian, Q., & Peterson, D. K. (2016). The effects of ethical pressure and power distance orientation on unethical pro-organizational behavior: The case of earnings management. Business Ethics, 25(2), 159–171.

Toukabri, M., Jilani, P. F., & Jemâa, O. Ben. (2014). The Interaction between Environmental Accounting Practices and Earnings Management. Journal of Business Studies Quarterly, 5(3), 99–112.

Tsalis, T. A., Nikolaou, I. E., Konstantakopoulou, F., Zhang, Y., & Evangelinos, K. I. (2020). Evaluating the corporate environmental profile by analyzing corporate social responsibility reports. Economic Analysis and Policy, 66, 63–75.

Utami, R. B., & Kartikasari, D. A. (2020). Earnings Quality: Praktik Dan Telaah Kasus Garuda Indonesia. Jurnal Administrasi Bisnis, 15(1), 57–63.

Wahyuningsih, A., & Rasmini, N. K. (2020). CSR Disclosure on Earnings Management with the Presence of Women in the GCG Structure. Jurnal Ilmiah Akuntansi Dan Bisnis, 15(2), 293.

Wooldridge, J. M. (2019). Introductory Econometrics: A Modern Approach (7e ed.). Cengage Learning, Inc.

Xiao, X., & Shailer, G. (2022). Stakeholders’ perceptions of factors affecting the credibility of sustainability reports. British Accounting Review, 54(1), 1–21.

Zhang, D. (2019). Top management team characteristics and financial reporting quality. Accounting Review, 94(5), 349–375.

Zhang, D., Lu, S., Morse, S., & Liu, L. (2022). The impact of COVID‑19 on business perspectives of sustainable development and corporate social responsibility. Environment, Development and Sustainability, 24, 8521–8544.
How to Cite
SANTOSO, Eko Budi; BASUKI, Basuki; ISNALITA, Isnalita. Pengungkapan Tanggung Jawab Sosial Terstandarisasi, Kredibilitas Manajemen, dan Manajemen Laba. E-Jurnal Akuntansi, [S.l.], v. 33, n. 4, p. 898-918, apr. 2023. ISSN 2302-8556. Available at: <>. Date accessed: 06 dec. 2023. doi: