THE EFFECT OF GOOD CORPORATE GOVERNANCE AND CORPORATE SOCIAL RESPONSIBILITY ON FINANCIAL PERFORMANCE OF BANKING COMPANIES LISTED ON THE IDX IN THE PERIOD 2021 – 2024
Keywords:
board of directors, board of independent commissioners, audit committee, corporate social responsibility, financial performanceAbstract
This study examines the impact of Good Corporate Governance (GCG) and Corporate Social Responsibility (CSR) on the financial performance of banking companies listed on the Indonesia Stock Exchange (IDX) for the 2021–2024 period. Financial performance, particularly Return on Assets (ROA), serves as a key indicator of a company’s operational success. The study integrates GCG variables board of directors, independent board of commissioners, and audit committee along with CSR as determinants of financial performance, an approach that has been underexplored in recent literature. Using a quantitative method with an associative approach, data was collected from annual and sustainability reports of 40 banking companies over four years (160 data points), analyzed via multiple linear regression with SPSS. The results reveal that all GCG components (board of directors, independent board of commissioners, audit committee) and CSR have a positive and significant impact on financial performance. The Adjusted R² of 0.602 indicates that 60.2% of the variation in financial performance is explained by these factors. This study highlights the importance of robust governance structures and CSR involvement in enhancing banking performance, with practical implications for policy-makers and banking institutions aiming to strengthen governance frameworks and ensure long-term profitability and sustainability.References
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