Home / Vol. 1 - No. 3 / Article

THE EFFECT OF CARBON EMISSIONS DISCLOSURE, CORPORATE SOCIAL RESPONSIBILITY (CSR), SOCIAL PERFORMANCE ON FINANCIAL PERFORMANCE WITH BOARD OF DIRECTOR GENDER AS A MODERATING VARIABLE

Abstract

This study investigates the effects of carbon emissions disclosure, corporate social responsibility (CSR), and social performance on financial performance, with board gender composition serving as a moderating variable in environmentally sensitive industries listed on the Indonesia Stock Exchange (IDX) during 2021–2024. The research adopts a descriptive quantitative design and utilizes secondary data obtained from annual reports and sustainability reports. The study population comprises 47 companies. Using purposive sampling, all 47 firms were included across four years, resulting in 188 observations (47 companies × 4 years). Data were analyzed using descriptive statistics, classical assumption tests, multiple linear regression, moderated regression analysis (MRA), and hypothesis testing.
The findings reveal that carbon emissions disclosure, CSR, and social performance each have a negative effect on financial performance. In addition, the gender composition of the board of directors weakens the influence of carbon emissions disclosure, CSR, and social performance on financial performance. Overall, these results underscore the role of carbon emissions disclosure, CSR, and social performance in shaping financial performance and demonstrate how board gender composition moderates these relationships, offering deeper insight into internal and external factors that may affect firm financial outcomes.