Effect Company Size, Age Of Company, Islamic Corporate Social Responsibility On Earning Coeficient Response

-Islamic Corporate Social Responsibility is the reporting of corporate social responsibility with sharia principles. The disclosure of social responsibility must be in accordance with the values of the concept of Maqashid Shari'ah. For sharia-based companies, use Islamic Social Reporting in reporting corporate social responsibility. All implementation of social responsibility that has been carried out by the company will be made public through social disclosure in the annual report issued by the company. This research aims to find out the influence of company size, age of the company and investment account holders on disclosure of Islamic corporate social responsibility. The population in this study was an Islamic commercial bank registered with the Financial Services Authority using purposive sampling techniques. The analytical technique in this study is regression of panel data. The results of this study showed that the size of the company, the age of the company and Islamic Corporate Social Responsibility influence simultaneously on the disclosure of Islamic corporate social responsibility. Partially, the size of the company positively influences the disclosure of Coeficient Response Earnings, while the company's lifespan and islamic corporate social responsibility have no effect on the disclosure of Coeficient Response Earnings.


INTRODUCTION
According to Law No. 21 of 2008 on Islamic Banking, defining Islamic Bank is a bank that conducts business activities based on sharia principles, or legal principles stipulated in the fatwa of the Indonesian Ulema Council (MUI) such as the principle of justice and balance ('adl wa tawazun), welfare (maslahah), universalism (alamiyah), and does not contain gharar, maysir, riba, unjust and illegal objects (Financial Services Authority 2017).
Banking in Indonesia is growing due to the existence of Islamic banks that provide financial and investment products with different methods than conventional banks that have been operating for a long time.Although still classified as a newcomer, Islamic banking has grown rapidly in Indonesia.This is due to Indonesia's status as the largest Muslim population country in the world, so that banks that use Sharia law and principles are more in demand by the public, even in recent years conventional banks in Indonesia have also established Sharia institutions or sharia business units themselves that make more people interested in the superiority of Islamic banks (Marimin and Romdhoni, 2017).
Islamic banks as institutions that carry out their operational activities uphold islamic values, are required not only to focus on profit but also required to provide social responsibility to the community or commonly called Corporate Social Responsibility (CSR) (Muslihati et al, 2018).Corporate Social Responsibility (CSR) is not only done by conventional banking but also carried out by Islamic banking.According to Anggraini and Kartika (2019) corporate social responsibility activities based on Islamic values are called Islamic Corporate Social Responsibility (ICSR).
Islamic banks are obliged to disclose in detail about their product system and every product issued by the bank must be halal.The agreements applied in every transaction in Islamic banks lead people to respect each other and protect the trust provided.Therefore, Islamic banks must develop the use of the concept of Maqashid Shari'ah as the main backrest in every operational development and products contained in Islamic banks (Febriadi, 2017).
The implementation of Maqashid Shari'ah on CSR programs in Islamic banking lies in the extent to which CSR programs are realized in islamic banking operations.CSR program is a form of social responsibility for every entity, whether engaged in the manufacturing / industrial sector, or in the trade sector, and services to the environment.In implementation, the form of social responsibility of Islamic Corporate Social Responsibility (ICSR) refers to the form of management of Islamic Financial Institutions (Muchlis and Sukirman, 2016).
There are many factors that influence the disclosure of Company Size, Company Age, Islamic Corporate Social Responsibility To Earnings Coeficient Response The first factor that influences CSR disclosure is the size of the company.According to (Rahayu and Budi S., 2018) the size of a company is the level of identification of the size or small of a company.Large companies do more and have a greater impact on society, have more shareholders, and get more attention from the public so large companies tend to come under greater pressure to disclose their social responsibilities.
The second factor influencing the disclosure of Coeficient Response Earnings is the age of the company.The age of the company indicates the length of period a company already exists and has operated in an industry.Companies that have an older age are assumed to provide more disclosure of information in their annual reports because older companies will know more about the importance of carrying out social responsibility than companies that are younger or have just been established and operating (Arianugrahini and Firmansyah, 2020) The third factor influencing the disclosure of Coeficient's Earning Response is Islamic Corporate Social Responsibility.Islamic Corporate Social Responsibility is the concept of sharia-based corporate social responsibility that is the size of Islamic economy, legal Islam, Islamic ethics, and Islamic philanthropy derived islamic values contained in the Qur'an and Hadith.Disclosure of Islamic Corporate Social Responsibility (ICSR) by Islamic institutions has different concepts with csr disclosure of conventional institutions, as well as the concept of disclosure in Islamic financial institutions.The concept of ICSR disclosure in Islamic financial institutions must cover all activities shown to ICSR objects are natural, direct stakeholders, and indirect stakeholders (Hendratmoko and Muid, 2017).
Based on background descriptions and factors that influence corporate social responsibility (CSR) disclosure, this study attracted researchers to conduct a re-study on the Effect of Company Size, Company Age, Islamic Corporate Social Responsibility On Earning Coeficient Response (Case study on Sharia Commercial Bank listed on Indonesia Stock Exchange in 2017-2021).

Signaling Theory
Signal theory indicates that financial reporting by issuers is a signal that can affect the value of their shares.In the capital market, market participants make economic decisions on the basis of publication information, announcements and press conferences.The presence of signals from the company causes investors to take action and determine the right anticipation.If the company conveys information to the market, generally the market will respond as a signal to the existence of a certain event that can affect the value of the company which will later affect the value of the company's shares.
Signal theory emphasizes the importance of information released by companies to investment decisions of parties outside the company.Information is an important record of a company both in the past, present and in the future.Signal theory indicates the existence of asymmetric information between company management and interested parties with that information and suggests how the company provides signals to users of financial statements.
Jama'an states that signal theory posits about how a company signals users financial statements.This signal is in the form of information about what has been done by management to realize the wishes of the owner.Examples of information delivery through signaling are the achievement of profit information as measured by the earning response coefficient (ERC) and information in the company's annual report, especially information about CSR disclosures that are expected to provide information about the company's future prospects to investors.
Signals in the form of disclosure of accounting profits by the company is a way of management in communicating the company's performance in the short term.To measure an investor's reaction to an accounting profit announcement, the earning response coefficient (ERC) is used.
Quality profit is a profit that does not cause perceptual interference and reflects actual financial performance without engineering.High profits are good news for invstors.However, high profits are not enough to predict the company's future prospects so it will take other information that can be considered as a reference, such as CSR information.

Company Size
According to Hendratmoko and Muid (2017) the size of the company is a scale that can classify the company into large and small companies according to various methods, including: total assets or total assets of the company, the average level of sales and the number of sales.The larger the size of a company, the more activities carried out and have a greater impact on society, not only that large companies have the ability to recruit expert employees, and there are demands from shareholders and analysts, this gives rise to large companies making disclosures of Corporate Social Responsibility (CSR) that are wider than small companies (Mutia et al. 2011) Companies that are large or small can be seen from the total value of assets owned by the company.The total value of the company's assets can be obtained from the statement of the company's financial position at the end of the company's period in the company's annual report and can be seen in the assets section of the company's financial statements (Umiyati.and Baiquni, 2019).The size of the company in the study was measured using the natural logarithm of the company's total assets.

Age of the Company
The age of the company can reflect how big the company is.How big a company is can be described in the maturity of the company.The maturity of the company will make the company in question understand what is desired by stakeholders and shareholders.Companies that have been established for a long time will certainly get more attention from the wider community.Company size is the scale or value used to classify large or small companies using various measurements (Cahyono et al., 2016).The size of the company shows the company's ability to take action to return its tax decisions.The size of the company shows the stability and ability of the company to carry out its economic activities (Alfina, Nurlaela, and Wijayanti, 2018).
Thus, of course, a long-standing company will always maintain the stability and image of the company.To maintain stability and image, the company will strive to maintain and improve the quality of its social disclosure (Prasetyoningrum, 2019).The age of the company can be calculated from the time the company was established until the end of the annual report year  (Hendratmoko and Muid, 2017).

Islamic Social Reporting (ISR)
Related to the need for disclosure of Corporate Social Responsibility (CSR) in Islamic banking, there needs to be a special standard for reporting social responsibility in accordance with Islamic principles called Islamic Social Reporting (ISR) (Othman and Thani, 2010).Islamic Social Reporting was first presented in Haniffa's research (2002) and contains only five themes, namely financing and investment, products and services, employees, society, and the environment.After that, Othman and Thani (2010) also added one theme of disclosure is corporate governance.To obtain an Islamic Corporate Social Responsibility (ICSR) score, the number of disclosure scores met was compared to the maximum number of scores.The assessment on each disclosure item uses the Islamic Social Reporting (ISR) index consisting of 50 statement items used by Fauziah and Yudho J (2013).Using the value (score) method, a value of 0 for an undisclosed item and a value of 1 for an disclosed item.Thus, the disclosure of Islamic Corporate Social Responsibility (ICSR).According to Sugiyono (2016) the independent variable (variable independent) is a variable that affects or becomes the cause of the change or the emergence of the dependent variable (bound).Research in (Divine, 2021) Islamic Corporate Social Responsibility.(ICSR) is a corporate social responsibility with dimensions economics and Islam, Islamic law, Islamic ethics and Islamic philanthropy based on Islamic values that exist in the Al-Quran and Hadith.

Earning Response Coefficient (ERC)
It is a measure of how much the return of shares in response to the profit figures reported by the company issuing the securities.ERC is a form of testing for the content of profit information.When the profit figure contains information, the market will react to the profit announcement.By the time it was announced, the market had had expectations about how much the company was profiting on the basis of publicly available information.In other words, the earning response coefficient (ERC) is the profit reaction announced by the company.
This reaction reflects the quality of the profits reported by the company.And the high low earning response coefficient (ERC) is largely determined by the responsiveness reflected in the information (good / bad news) contained in profits.The high value of ERC indicates that profits are able to provide information for investors in making economic decisions.Conversely, the low ERC indicates less informative earnings for investors to make economic decisions.The strength of an investor's response to profit information signals (ERC) is a function of future uncertainty.Earning response coefficient is the measured coefficient using the slope coefficient in cumulative regression abnormal return and unexpected earnings (Mahendra and Wirama, 2017).

The Effect of Company Size affects disclosure of earning response coefficient (ERC)
The size of the company is the size or small size of the company, this can be seen from how much assets the company has in the annual report made.Large companies have a lot of information for investors who can help with decision making.In addition, large companies tend to have a higher public demand for information than smaller companies (Aini et al. 2017).The large or small of the company can be measured by the natural logarithm of the total assets owned by the company.
In a previous study conducted by Masrurroh and Mulazid (2017) stated that the size of the company projected using natural logarithms of the company's total assets positively influenced the disclosure of earning response coefficient (ERC) where the larger the size of the company, the greater the disclosure of company information that must be done.Large companies have large assets, large sales, good employee expertise and many types of products, so large companies express more social responsibility than small companies.H1: The size of the company has a partially positive influence on the Earning Response Coefficient (ERC)

The Influence of The Age of The Company affects the Disclosure of Islamic Earning Response Coefficient (ERC)
Based on stakeholder theory, corporate social disclosure is considered to act as a medium of communication between the company and stakeholders.In order to provide feedback to its stakeholders, the company will publish its social responsibility report on an ongoing basis every year.Companies that have long stood are expected to know what their stakeholders want and meet the needs of their stakeholders by improving the quality of disclosure of their social responsibility (Widiyanti and Hasanah, 2018).The results of the Study Pare et al (2017) showed that the company's age variables have a positive influence on Corporate Social Responsibility (CSR).

The influence of Islamic Corporate Social Responsibility (ICSR) affects the Disclosure of Earning Response Coefficient (ERC)
Islamic investors are more likely to invest funds as Investment Account Holders (IAH) than as shareholders because investors are more interested in the services offered by Islamic banks and investment accounts with Islamic banks are generally more accessible than Islamic bank stocks (Farook et al, 2011).
If IAH is more attractive than shareholding in Islamic banking, then the influence of IAH will be shown to the adherence of Islamic banking to Islamic principles and law so that it will make banks more revealing (Zanjabil and Adityawarman, 2015).Previous research results from Mais and Lufian (2018) showed that IAH variables had a positive relationship to CSR disclosure rates using the Islamic Social Reporting (ISR) index.The method used in this research is a quantitative research method.The population in this study is Bank Syariah Indonesia (BSI) which is listed on the Indonesia Stock Exchange in 2017-2020.The sampling technique used is using purposive sampling techniques with the following company criteria: 1.Bank Syariah Indonesia listed on the Indonesia Stock Exchange (IDX) in 2017-2020.2. Bank Syariah Indonesia listed on the Indonesia Stock Exchange (IDX) which consistently publishes annual reports in 2017-2020.3. Bank Syariah Indonesia which has complete data based on variables studied during the period 2017-2020 Based on these criteria, the number of samples studied as many as 20 banks with a four-year period of research, so the data used in this study amounted to 93 samples.The data analysis technique in this study is a regression of panel data processed using the Eviews 11 application.Here is the equation of regression analysis of panel data:

Variables And Variable Operational Definitions
The definition of opersaional variables in this study is as follows: Company Size According to the size of the company is a scale that can

Ratio
No Description Definiton Indicator Ratio classify the company into large and small companies according to various methods, including: total assets or total assets of the company, the average level of sales and the number of sales.

Age Of Company
Company size is the scale or value used to classify large or small companies using various measurements.The size of the company shows the company's ability to take action to return its tax decisions.The size of the company shows the stability and ability of the company to carry out its economic activities In table 2 the results of descriptive statistical testing for each variable are as follows: a.The earning response coefficient (ERC) disclosure dependent variable obtained a mean value of 0.622758, a standard deviation value of 0.083851, a maximum value of 0.770200 and a minimum value of 0.440000.b.The independent variable size of the company has a mean of 30.07842, a standard deviation value of 1.274667, a maximum value of 32.35212 and a minimum value of 27.21840.c.The average value of the company's independent variable age is 9.730769 and the standard deviation value is 6.278239, the maximum value is 27.00000 and the minimum value is 0.00000.
d.The average value of the independent variable Islamic Corporate Social Responsibility is 10.56996, the standard deviation value is 10.60435, the maximum value is 41.83844 and the minimum value is 0.000000.4 it can be known that the random cross section value is 0.26773 where the value > 0.05 so it can be concluded that the model used based on the hausman test results is a random effect model.Next, tests are done to choose a common effect model or random effect model.The results of the regression equation of the panel above can explain the interrelationship between independent variables to the disclosure of Islamic Corporate Social Responsibility as follows:

Panel Data Regression Equation
The constant value of -1.113976 indicates that if the variables of company size, company age, and Islamic Corporate Social Responsibility are worth 1 then the Earning Response Coefficient value is -1.113976.b.The value of the coefficient X1, which is the size of the company of 0.057364 is positive, indicating that if there is an increase of one unit to the size of the company and the value of other independent variables is constant, then the disclosure of the Earning Response Coefficient increases by 0.057364.c.The value of the coefficient X2, i.e. the age of the company of 0.004042 is positive indicating that if there is an increase of one unit to the age of the company and the value of other independent variables is constant, then the disclosure of earning response coefficient increases by 0.004042.d.The value of coefficient X3 of Islamic Corporate Social Responsibility of -0.002650 is negative indicating that if there is an increase of one unit against and the value of other independent variables is constant, then the Earning Response Coefficient decreases by 0.002650.

Coefficient of Determination
Based on table 5

Discussion of Research Results
A. Effect of Company Size on Earning Response Coefficient The size variable of the company obtains a probability value of 0.0001 < 0.05 with a coefficient value of 0.057364.The results of the partial test showed that the company's size variables partially positively affected the disclosure of Islamic Corporate Social Responsibility so that H2 was received.The results of this study are in line with the research hypothesis which states that the size of the company has a partially positive effect on the disclosure of Islamic Corporate Social Responsibility.The size of the company can be seen from the total value of assets owned by the company.Based on the analysis conducted, Islamic banks that have a large corporate size will have a large total assets so that the disclosure of Sharia-based social responsibility will become more widespread and will attract more public attention compared to Islamic banks that have small company sizes that must require many additional costs for wider disclosure.The results of this study are in accordance with research conducted by Masrurroh and Mulazid (2017); company size positively affects earning response coefficient disclosure

Effect of The Company's Age on Earning Response Coefficient
The company age variable obtains a probability value of 0.0905 > 0.05 with a coefficient value of 0.004042.The results of the partial test showed that the company's age variable had no effect on the disclosure of Islamic Corporate Social Responsibility so H3 was rejected.The results of this study do not match the hypothesis that the age of the company has a partially positive effect on the disclosure of Islamic Corporate Social Responsibility.
Based on the analysis conducted, the age of the company has no effect on the disclosure of Islamic Corporate Social Responsibility because the longer the bank stands does not mean the bank will increasingly show existence in the disclosure of its social responsibility, because older banks may be better at understanding what information is disclosed so there is no need to disclose in detail its social responsibility information in the annual report and for age.In younger companies, disclosure of social responsibility is very important because younger companies build corporate legitimacy to society, so it is important for companies to carry out broader social responsibilities.It can be seen that the age of the company is not a factor that affects the company's performance in disclosing social responsibility.The results of this study are in accordance with the research conducted by Arianugrahini and Firmansyah (2020); The company's age has no effect on the disclosure of the Earning Response Coefficient.

Influence of Islamic Corporate Social Responsibility on Earning Response Coefficient
The Investment Account Holder variable obtains a probability value of 0.1212 > 0.05 with a coefficient value of -0.002650 indicating a negative direction.The results of the partial test showed that the Investment Account Holder variable had no effect on the disclosure of Islamic Corporate Social Responsibility so H4 was rejected.The results of this study do not match the hypothesis that the Investment Account Holder has a partially positive effect on the disclosure of the Earning Response Coefficient.
Based on the analysis conducted, investment account holders have no influence on the disclosure of Islamic corporate social responsibility, because the lower the level of investment account holder, the less disclosure made by Islamic banking.In addition, the investment account holder's lack of influence on islamic corporate social responsibility disclosure also supports that most Islamic banking in Indonesia is still small compared to conventional banks, therefore it is necessary to promote and increase market share in various ways.One of the islamic banking strategies is to increase the disclosure of Islamic Corporate Social Responsibility to attract customers.This strategy actually benefits Islamic banking because in addition to fulfilling the obligation to disclose corporate social responsibility, Islamic banking also conducts promotional activities to attract customers, not as shareholders but as Investment Account Holders to invest their funds.But currently the level of Investment Account Holder in Islamic banking is still low and there are still many promotions needed so that customers are interested in investing in Islamic banking.The results of this study are in accordance with research conducted by Sudaryati and Eskadewi (2012); Investment Account Holder has no effect on earning response coefficient disclosure

2. 4
Disclosure of Islamic Corporate Social Responsibility (ICSR) According to Khursid et al (2014) Islamic Corporate Social Responsibility (ICSR) is a sharia-based corporate social responsibility concept that is the size of Islamic economy, legal Islam, Islamic ethics, and Islamic philanthropy derived from Islamic values contained in the Qur'an and Hadith.Disclosure of Islamic Corporate Social Responsibility (ICSR) by Islamic institutions has different concepts with csr disclosure of conventional institutions, as well as the concept of disclosure in Islamic financial institutions.The concept of ICSR disclosure in Islamic financial institutions must cover all activities shown to ICSR objects are natural, direct stakeholders, and indirect stakeholders

Figure 1 .
Figure 1.Framework of thinking

Table 2 .
Descriptive Statistical Testing Results

Table 3 .
Chow Test ResultsIt is known in table 3 that the probability value of chi-square obtained is 0.0002 less than 0.05 meaning H0 is rejected then the model used is a fixed effect model compared to the common effect model.Next, testing is done to choose a fixed effect model or random effect model Based on the hausman test results in table

Table 5 .
Random Effect Model Test Results obtained an Adjusted R-square value of 0.366078 which means that the company size variable, company age, and Islamic Corporate Social Responsibility have the ability to explain the disclosure of earning response coefficient of 36.60% and the rest is explained by other variables outside of this study.Based on table 5 obtained the probability value of F-statistic of 0.000015 < 0.05 means that independent variables of company size, company age, and Islamic Corporate Social Responsibility affect simultaneously the variables of earning response coefficient disclosure.Table 5 shows partial test results for company size variables, company age, and Islamic Corporate Social Responsibility against earning response coefficient disclosure.Description of the relationship between variables as follows: Company size variable (X1)It has a probability value of 0.0001 < 0.05 with a coefficient value of 0.057364.This shows if the company's size variables positively affect the disclosure of earning response coefficient.