Hasil Pencarian  ::  Simpan CSV :: Kembali

"There are increasingly interest from many corporation, especially among those having business in relation with natural resources world wide, towards Corporate responsibility (CR) or Corporate social responsibility (CSR). Occasionally, CSR would only be viewed as a mere philanthropic and image building activities. Yet CSR activities should actually be fully integrated with the company's strategy to acquire competitive edge to be the basis for business development and efficiency. In a comprehensive CSR, the company is involving alt levels of the company and its stakeholders in a continuous and step-by step process. To increase support on CSR, it is very important that the government, chamber of commerce, the business sector, the accountants, and other stakeholders work together to create a favorable climate, policies and incentives to the business sectors to implement CSR in their operation."

"Penelitian ini dilakukan untuk menganalisis pengaruh pengungkapan corporate social responsibility (CSR) terhadap biaya utang yang diukur melalui yield spread. Penelitian ini menggunakan sampel perusahaan publik di Indonesia yang menerbitkan obligasi dalam rentang tahun 2011-2015. Hasil penelitian menunjukkan bahwa pengungkapan CSR berpengaruh negatif terhadap yield spread sebagai proksi biaya utang. Hal ini disebabkan karena informasi mengenai aktivitas CSR dapat mengurangi adanya informasi asimetri, terutama bagi investor publik. Pengungkapan CSR memungkinkan investor untuk dapat menilai perusahaan dengan lebih baik sehingga imbal hasil yang diminta oleh investor dapat menjadi semakin rendah.

---

The aim of this research is to analyze the impact of corporate social responsibility (CSR) disclosure on cost of debt as measured by bond yield spread. Sample of this research are firms that issued bonds during the year of 2011-2015. The result of this study indicates that CSR disclosure has negative impact on yield spread. Informations regarding the firms’ CSR activities are believed to reduce asymmetric information, mainly for public investors. Such CSR disclosure could enhance investors’ assessment of the firms and therefore they may require lower yield."

"India's increasing population has attracted a host of multinational corporations (MNCs) to enter the country to tap its market. Because of their enthusiasm and the favorable market conditions, these MNCs get carried away and sometimes regulations are flouted. The absence of clear regulations leads to problems when government agencies find fault with MNCs products."

"Penelitian sebelumnya menyimpulkan bahwa biaya ekuitas tahun sebelumnya mendorong perusahaan meningkatkan pengungkapan Corporate Social Responsibility CSR di tahun berjalan. Setelah mengungkapkan CSR dengan lebih ekstensif di tahun berjalan, perusahaan mendapatkan manfaat adanya penurunan biaya ekuitas di tahun selanjutnya. Penelitian ini bertujuan untuk menguji pengaruh biaya ekuitas tahun sebelumnya terhadap pengungkapan CSR tahun berjalan dan menganalisis pengaruh perubahan pengungkapan CSR tahun berjalan terhadap perubahan biaya ekuitas tahun selanjutnya. Penelitian ini juga menguji pengaruh biaya utang tahun sebelumnya terhadap pengungkapan CSR tahun berjalan dan menganalisis pengaruh perubahan pengungkapan CSR tahun berjalan terhadap perubahan biaya utang tahun selanjutnya. Pengujian hipotesis dilakukan dengan menggunakan regresi data panel dengan sampel perusahaan yang terdaftar di Bursa Efek Indonesia BEI pada tahun 2013-2015. Total sampel berjumlah 834 observasi untuk model biaya ekuitas dan 708 observasi untuk model biaya utang. Hasil penelitian ini menunjukkan bahwa biaya ekuitas tahun sebelumnya berpengaruh positif terhadap pengungkapan CSR sedangkan perubahan pengungkapan CSR justru berpengaruh positif terhadap perubahan biaya ekuitas di tahun selanjutnya. Biaya utang tahun sebelumnya juga berpengaruh positif terhadap pengungkapan CSR di tahun berjalan namun perubahan pengungkapan CSR tahun berjalan tidak berpengaruh terhadap perubahan biaya utang tahun selanjutnya.

---

Previous study conclude that previous year cost of equity motivates company to increase current year Corporate Social Responsibility CSR disclosure. After disclosing CSR more extensive in current year, company gets benefit in the form of lower cost of equity in the following year. This study aims to examine the effect of previous year cost of equity on current year CSR disclosure and further analyze the effect of changes in current year CSR disclosure on changes in following year cost of equity. This study also examine the effect of previous year cost of debt on current year CSR disclosure and further analyze the effect of changes in current year CSR disclosure on changes in following year cost of debt. Hypothesis were tested using panel regression analysis with samples consist of listed companies in Indonesia Stock Exchange IDX from 2013 2015 includes 834 firm years for cost of equity model and 708 firm years for cost of debt model. Result of this study shows that previous year cost of equity and cost of debt have positive effect on current year CSR disclosure. However, changes in current year CSR disclosure have positive impact on changes in following year cost of equity and do not significantly affect changes in following year cost of debt."

"This paper investigates the impact of corporate social responsibility (CSR) performance by listed companies on the cost of equity capital from the perspectives of enterprise risk management and capital market risk pricing and discusses the mediating effects of operating risk. Using the causal steps approach, we conduct an empirical test with a sample of 7241 Chinese A-share listed companies from 2013 to 2018. This paper uses the price-earnings-growth (PEG) model and the Ohlson-Juettner (OJ) model to calculate the cost of equity capital and accounting earnings volatility to measure operating risk. Our results lead to the following conclusions: First, CSR performance is significantly negatively correlated with the cost of equity capital; second, CSR performance is significantly negatively correlated with operating risk; third, operating risk is a mediating variable between CSR performance and the cost of equity capital, and the mediating effect differs between long- and short-term risks. Our conclusions are confirmed by robustness tests."

"Undang-Undang Nomor 22 Tahun 2001 Tentang Minyak dan Gas Bumi memberikan kewajiban Corporate Social Responsibility (CSR) berupa community development kepada Kontaktor Kontrak Kerja Sama (KKKS). Namun pelaksanaan CSR tidak sepenuhnya berjalan dengan baik karena sering kali menimbulkan masalah seperti biaya CSR yang mendapatkan penggantian berupa cost recovery dari pemerintah yang berpotensi merugikan negara. Kasus terkait permasalahan tersebut adalah PT. Chevron Pacific Indonesia (CPI) yang menggunakan cost recovery sebagai sumber pembiayaan CSR. Permasalahan yang diangkat dalam skripsi ini adalah pemahaman CSR dan cost recovery di Indonesia, implementasi CSR serta sumber pembiayaannya dalam kegiatan hulu migas, dan analsis kasus PT. CPI. Metode yang digunakan untuk menganalisis kasus adalah yuridis normatif. Hasil dari penelitian ini yaitu pemahaman terhadap CSR hanya melihat pada kewajiban yang diberikan undang-undang saja dan bukan menjadi suatu kesadaran moral sehingga implementasi CSR masih terdapat banyak kekurangan. Selain itu, penggunaan cost recovery sebagai pembiayaan CSR yang dilakukan oleh PT. CPI diperbolehkan oleh UU Migas dan peraturan pelaksananya. Namun telah terjadi penyimpangan dalam proses pengajuan cost recovery atas CSR tersebut, yaitu pada tahap program kerja dan anggaran/ work program and budget (WP&B).

---

In Law Number 22 Year 2001 concerning Oil and Gas, Contractors of Production Sharing Contract (CPSC) is obligate to conduct Corporate Social Responsibility (CSR) in the form of community development. However, the implementation of CSR is not working properly because its often led to problems for example the cost of a replacement CSR in the form of cost recovery gift by the Government which potentially detrimental to the country. The related case from this problem is PT. Chevron Pacific Indonesia (CPI) used cost recovery as a source of financing of CSR. The issues in this thesis are the understanding of CSR and cost recovery in Indonesia, the implementation of CSR as well as the source of financing in the upstream oil and gas and analysis case PT CPI. A method used in analyze this case is a normative juridical. The result of this research is the understanding of CSR only concerns the liability which provided by law and it is not become a moral consciusness so there are many deficiency in the implementation. Moreover, the use of cost recovery as CSR financing undertaken by PT CPI allowed by Law of Oil and Gas and the regulation of agents. However, there have been irregularities in the process of filing cost recovery for CSR which is at the stage of work program and budget (WP & B)."

"Originally, the concept of CSR was come from business ethic values that impose corporation's ethical responsibility to their social dan natural environment. That development of ethical business was part of social consciousness on the degradation of environment as impact of corporation activities. This reality also raised the deep environmental ethic or deep ecology which challenge anthropocentrism economical development and urged ecocentrism development. In Indonesia, this phenomenon was marked by the enactment of Act 4/1982 on environmental management. The constitutional debate on CSR just began when the Indonesian Constitutional court heard and decided the judicial review case of Act 40/2007 on limited liability company which stipulate CSR mandatory law for corporation that have activity in natural resources areas. In its decision, Constitutional Court refused the petition. This means that court affirmed that CSR mandatory law is not contrary to the constitution. However, the legal argumentation of the court was not shifted from economical and environmental perspectives. The constitutional basic of the decision is article 33 (4) concerning national economic principles and article 33 (3) concerning state power on land, water, and natural resources. The constitutional court did not use the human rights concept as the source of CSR mandatory law. "

"Corporate Social Responsibility as a concept can be traced back as early as 19th century in Holland and early 20th century in United States. Since then the concept has been adopted with various responses around the world. Despite some ambiguities and differences that might prevail across nations, CSR gradually becomes a global concept, initiated with some MNCs which pay attention to their reputation. The experience in Dutch showed that although CSR was initiated by quite a few companies, the government has paid its attention to develop this concept in anticipating with the world development."

"Definisi CSR sejatinya telah diuraikan semenjak tahun 1950-an. Semanjak itu definisi CSR berkembang luas di kalangan bisnis. Namun demikian katan$an akademisi dan pendidikan memandans perlu untuk metakukan kajian ilmiah terhadap CSR karena terlihat bahwa CSR sefaagar suatu konsep berkembang luas yang berdampak pada kepentingan stakeholder perusahaan, dalam hal ini masyarakat umum,"