PENGARUH CORPORATE GOVERNANCE TERHADAP PROFITABILITAS DENGAN CORPORATE SOCIAL RESPONSIBILITY SEBAGAI VARIABEL MEDIASI PADA PERUSAHAAN SEKTOR CONSUMER CYCLICALS YANG TERDAFTAR DI BEI TAHUN 2019-2023

THE EFFECT OF CORPORATE GOVERNANCE ON PROFITABILITY WITH CORPORATE SOCIAL RESPONSIBILITY AS A MEDIATING VARIABLE IN CONSUMER CYCLICALS SECTOR COMPANIES LISTED ON THE BEI IN 2019-2023

Penelitian ini bertujuan untuk menguji pengaruh Corporate Governance terhadap profitabilitas dengan Corporate Social Responsibility sebagai variabel mediasi pada perusahaan sektor consumer cyclicals yang terdaftar di Bursa Efek Indonesia (BEI) selama periode 2019-2023. Penelitian ini menggunakan pendekatan kuantitatif dengan metode purposive sampling, sehingga diperoleh 23 perusahaan sebagai sampel dengan total 115 data observasi. CG diproksikan melalui dewan direksi dan komisaris independen, sedangkan profitabilitas diukur menggunakan Return on Equity (ROE). Hasil penelitian menunjukkan bahwa dewan direksi dan komisaris independen berpengaruh signifikan terhadap profitabilitas. CSR juga terbukti berpengaruh signifikan terhadap profitabilitas. Namun, CSR tidak mampu memediasi pengaruh CG terhadap profitabilitas. Temuan ini mengindikasikan bahwa meskipun CSR memiliki peran dalam meningkatkan profitabilitas secara langsung, perannya tidak cukup kuat untuk menjadi perantara antara praktik CG dan profitabilitas perusahaan.

This study aims to examine the effect of Corporate Governance on profitability with Corporate Social Responsibility as a mediating variable in consumer cyclicals sector companies listed on the Indonesia Stock Exchange (IDX) during the 2019-2023 period. This study uses a quantitative approach with a purposive sampling method, so that 23 companies are obtained as samples with a total of 115 observation data. CG is proxied through the board of directors and independent commissioners, while profitability is measured using Return on Equity (ROE). The results showed that the board of directors and independent commissioners have a significant effect on profitability. CSR is also proven to have a significant effect on profitability. However, CSR is not able to mediate the effect of CG on profitability. This finding indicates that although CSR has a role in increasing profitability directly, its role is not strong enough to mediate between CG practices and firm profitability.