Islamic Social Responsibility, Islamic Corporate Governance, Manajemen Laba, dan Kinerja Keuangan Pada Perusahaan Syariah
- Putri Salbiah Sukma Br. Nst Universitas Islam Sumatera Utara, Medan, Indonesia
-
Sri Rahayu
*
Universitas Islam Sumatera Utara, Medan,
Indonesia
https://orcid.org/0000-0001-9177-0606
- Jalilah Ilmiha Universitas Islam Sumatera Utara, Medan, Indonesia
Abstract
This study aims to examine the effect of Islamic Corporate Social Responsibility (ICSR) and Islamic Corporate Governance (ICG) on financial performance with earnings management as a moderating variable in sharia public companies within the financial and banking sector listed in the Sharia Securities List during the 2020–2024 period. This study employed a quantitative approach using secondary data obtained from annual reports and sustainability reports. The sampling technique used purposive sampling, resulting in 30 observations. Data analysis was conducted using multiple linear regression and Moderated Regression Analysis (MRA) with SPSS version 25. The results indicate that ICSR has a positive and significant effect on financial performance, with a regression coefficient of 18.558 and a significance value of 0.029 (< 0.05). In contrast, ICG does not have a significant effect on financial performance, as indicated by a significance value of 0.200 (> 0.05). Earnings management also does not significantly affect financial performance, with a significance value of 0.678 (> 0.05). Furthermore, earnings management is unable to moderate the relationship between ICSR and ICG on financial performance because the significance values of the interaction variables are 0.435 and 0.449 (> 0.05), respectively. The coefficient of determination test shows an Adjusted R Square value of 0.028 or 2.8%, indicating that the research variables explain only 2.8% of the variation in financial performance, while the remaining 97.2% is influenced by other factors outside the research model. These findings demonstrate that sharia-based social responsibility disclosure plays a more dominant role than sharia governance mechanisms in improving the financial performance of sharia companies.
References
Alfijri, N. K., & Priyadi, M. P. (2022). Pengaruh Islamic Corporate Social Responsibility ( Icsr ), Zakat Dan Islamic Corporate Governance ( Icg ) Terhadap Kinerja. Jurnal Ilmu Dan Riset Akuntansi, 11, 22.
Azis, D. A., Alam, S., & Ikhtiari, K. (2022). Pengaruh Earning Management Dan Struktur Corporate Governance Terhadap Pengungkapan Corporate Social Responsibility Pada Perusahaan Manufaktur. 5(3), 188–198. Https://Doi.Org/Https://Doi.Org/10.56750/Csej.V5i3.454
Bank Aladin Syariah. (2023). Laporan Tahunan Pt Bank Aladin Syariah Tbk Tahun 2022. Pt Bank Aladin Syariah Tbk. Https://Bankaladin.Co.Id/Storage/Investor-Relations/Annual-Reports/Bank-Aladin-Syariah-Annual-Report-2022.Pdf
Bank Panin Dubai Syariah. (2024). Laporan Tahunan Pt Bank Panin Dubai Syariah Tbk Tahun 2023. Pt Bank Panin Dubai Syariah Tbk. Https://Www.Paninbanksyariah.Co.Id/Uploads/Laporan_Tahunan/Laporan_Tahunan_Panin_Dubai_Syariah_2023.Pdf
Bank Syariah Indonesia. (2025). Laporan Tahunan Pt Bank Syariah Indonesia Tbk Tahun 2024. Pt Bank Syariah Indonesia Tbk. Https://Ir.Bsi.Co.Id/Uploads/File/Laporan Tahunan Bsi 2024 (Full Version).Pdf
Btpn. (2023). Annual Report 2023.
Che Azmi, A., Non, N., & Aziz, N. (2020). Patterns Of Social Reporting From An Islamic Framework And The Moral Legitimacy Factors That Influence Them. Business Ethics: A European Review, 29(4), 763–779. Https://Doi.Org/10.1111/Beer.12293
Dewan Syariah Nasional-Majelis Ulama Indonesia. (2020). Fatwa Dewan Syariah Nasional-Majelis Ulama Indonesia Nomor 135/Dsn-Mui/V/2020 Tentang Saham Syariah. Dewan Syariah Nasional-Mui. Https://Dsnmui.Or.Id/Kategori/Fatwa/Ekonomi-Syariah
Diyani, L. A., & Oktapriana, C. (2020). Implementation Of Islamic Corporate Governance, Islamic Corporate Social Responsibility And Financial Performance Toward Reputation (Study Of Sharia Commercial Bank In Indonesia). Proceedings Of The Aic 2019 On Accounting And Business. Https://Doi.Org/10.2991/Aebmr.K.200309.030
Fajri, A., Haerudin, & Agbo, A. A. (2025). The Impact Of Corporate Social Responsibility On Consumer Loyalty: A Mediation Analysis Of Consumer Trust And Satisfaction. Jurnal Aplikasi Bisnis Dan Manajemen (Jabm), 11(2). Https://Doi.Org/10.17358/Jabm.11.2.566
Hasan, A. Z., & Hermanto, S. B. (2020). Pengaruh Mekanisme Corporate Governance Dan Leverage Terhadap Kinerja Keuangan. Jurnal Ilmu Dan Riset Akuntansi (Jira), 9, 23.
Husna, H. N., Program, M., Akuntansi, S., Ekonomi, F., Islam, U., Agung, S., Wijayanti, P., Program, D., Akuntansi, S., Ekonomi, F., Islam, U., & Agung, S. (2020). Pengaruh Islamic Corporate Social Responsibility Terhadap Reputasi. 587–608.
Husna, H. N., & Wijayanti, P. (2020). Pengaruh Islamic Corporate Social Responsibility Terhadap Reputasi Perusahaan Dan Kinerja Keuangan. Prosiding Konferensi Ilmiah Mahasiswa Unissula (Kimu) 3, 587–608.
International Monetary Fund. (2020a). Global Financial Stability Report, October 2020: Bridge To Recovery. International Monetary Fund. Https://Doi.Org/10.5089/9781513554051.082
International Monetary Fund. (2020b). World Economic Outlook, April 2020: The Great Lockdown. International Monetary Fund. Https://Doi.Org/10.5089/9781513543344.081
Jan, A. A., Lai, F.-W., & Tahir, M. (2021). Developing An Islamic Corporate Governance Framework To Examine Sustainability Performance In Islamic Banks And Financial Institutions. Journal Of Cleaner Production, 315, 128099. Https://Doi.Org/Https://Doi.Org/10.1016/J.Jclepro.2021.128099
Jan, A., Marimuthu, M., Hassan, R., & Mehreen. (2021). Sustainable Business Practices And Firm’s Financial Performance In Islamic Banking: Under The Moderating Role Of Islamic Corporate Governance. Sustainability, 13(8), 4225. Https://Doi.Org/10.3390/Su11236606
Jati, K. W., Agustina, L., Muliasari, I., & Armeliza, D. (2020). Islamic Social Reporting Disclosure As A Form Of Social Responsibility Of Islamic Banks In Indonesia. Banks And Bank Systems, 15(2), 47–55. Https://Doi.Org/10.21511/Bbs.15(2).2020.05
Jobst, A., & Sole, J. (2020). The Nature Of Islamic Banking And Solvency Stress Testing: Conceptual Considerations. In Imf Working Papers (Vol. 2020, Issue 156). International Monetary Fund. Https://Doi.Org/10.5089/9781513550886.001
Karina, R., & Rosmery, D. (2023). Pengaruh Manajemen Laba Terhadap Kinerja Keuangan Di Moderasi Tanggung Jawab Sosial Perusahaan. Jurnal Ekonomi Akuntansi Dan Manajemen, 22(1), 35.
Kasih, M. C., & Dewi, V. S. (2021). Does Financial Performance Moderate Islamic Corporate Governance And Islamic Social Reporting? Jurnal Ilmiah Ekonomi Islam, 7(3), 1561–1572.
Lestari, S. (2020). Pengaruh Sharia Compliance Dan Islamic Corporate Governance Terhadap Kinerja Keuangan Bank Umum Syariah. Al-Sharf: Jurnal Ekonomi Islam, 1(2), 123–142.
Maqfira, A., Zaitul, Darmayanti, Y., Azizah, M., & Ilona, D. (2024a). Corporate Governance And Csr Disclosure: Earnings Management As Moderating Variable. Inisiatif: Jurnal Ekonomi, Akuntansi Dan Manajemen, 3(1), 259–276. Https://Doi.Org/10.30640/Inisiatif.V3i1.2067
Maqfira, A., Zaitul, Z., Darmayanti, Y., Azizah, M., & Ilona, D. (2024b). Corporate Governance And Csr Disclosure : Earnings Management As Moderating Variable. 3(1). Https://Doi.Org/Https://Doi.Org/10.30640/Inisiatif.V3i1.2067
Masyhuri, M. (2020). Implementasi Akuntabilitas Perusahaan Berlandaskan Maqashid Syariah Dalam Menciptakan Perekonomian Berkeadilan. Islamic Economic And Business Journal, 2(1), 1–15. Https://Doi.Org/10.30863/Iebjournal.V2i1.2985
Monalisa, P., & Serly, V. (2023). Pengaruh Corporate Social Responsibility Terhadap Kinerja Keuangan Perusahaan Dengan Tata Kelola Perusahaan Sebagai Variabel Moderasi Pada Perusahaan Manufaktur Di Indonesia. Jurnal Eksplorasi Akuntansi, 5(3), 1272–1289. Https://Doi.Org/10.24036/Jea.V5i3.774
Muammalat. (2024). Laporan Tahunan Pt Bank Muamalat Indonesia Tbk Tahun 2023. Pt Bank Muamalat Indonesia Tbk. Https://Www.Muamalat.Co.Id/Uploads/Laporan_Tahunan/Laporan_Tahunan_Muamalat_2023.Pdf
Pangerang, B., Setiawati, L., & Lahjie, A. A. (2025). Impact Of Sharia Compliance And Islamic Corporate Governance On Financial Performance Of Islamic Banks Moderated By Islamic Corporate Social Responsibility. Proceeding International Conference On Accounting And Finance (Incaf), 3, 482–496. Https://Journal.Uii.Ac.Id/Incaf/Article/View/38764
Prayoga, A., & Siswantoro, D. (2021). Sustainability Practices And Financial Performance: Evidence From Islamic Banking In Indonesia. Proceedings Of The 1st International Conference On Economics Engineering And Social Science, Inceess 2020, 17-18 July, Bekasi, Indonesia. Https://Doi.Org/10.4108/Eai.17-7-2020.2302993
Putra, P., & Aryanti, R. (2021). Factors Affecting Disclosure Of Islamic Social Reporting On Companies Listed In Islamic Social Reporting 2017–2019. Jurnal Ilmiah Ekonomi Islam, 7(3), 1206–1214. Https://Doi.Org/10.29040/Jiei.V7i3.3451
Rahayu Sri. (2022). The Effect Of Banking Zakat And Corporate Social Responsibility On The Profitability Ratio Of Sharia Commercial Banks In Indonesia. E3s Web Of Conferences. Https://Doi.Org/10.31958/Imara.V5i1.2789
Rahmah, N. A., Rahman, A., Zaputra, R., & Siregar, I. W. (2025). Corporate Social Responsibility As A Moderating Of Good Corporate Governance And Financial Performance On Islamic Social Reporting. 5(2), 316–331.
Riduwan, R., Mutmainah, L., & Wahyudi, R. (2020). Islamic Social Reporting Disclosure Of Sharia Commercial Banks In Indonesia: A Form Of Social Responsibility. Shirkah: Journal Of Economics And Business, 5(3), 337–356. Https://Doi.Org/10.22515/Shirkah.V5i3.336
Romadhonia, S., & Kurniawati, S. L. (2022). The Effect Of Islamic Corporate Governance, Sharia Compliance, Islamic Social Responsibility On The Profitability Of Sharia Banks. Ekonomika Syariah : Journal Of Economic Studies, 6(1), 90. Https://Doi.Org/10.30983/Es.V6i1.5566
Sari, L. A. P., Fitriyani, S., & Firmansyah, A. (2024). Peran Moderasi Modal Intelektual Dalam Hubungan Manajemen Laba Terhadap Nilai Perusahaan. Accounting And Business Information Systems Journal (Abis), 12(3). Https://Doi.Org/10.22146/Abis.V12i3.94045
Setiabudhi, H. (2022). Analisis Pengaruh Pengungkapan Islamic Corporate Governance Dan Islamic Corporate Social Responsibility Terhadap Kinerja Keuangan. Jurnal Riset Keuangan Dan Akuntansi, 8(2).
Supatminingsih, T., & Rijal, S. (2023). Earnings Management In Indonesian Islamic Banking: Analyzing With Modified Jones Model. Al Urwah: Sharia Economics Journal, 1(1), 44–55. Https://Doi.Org/10.61536/Alurwah.V1i01.18
Syifa Nurmilla, Fathiyyah, & Muflih; Muhammad. (2023). Determinants Of Islamic Banking Profitability: A Comparative Analysis Of Indonesia And Malaysia. Jurnal Ekonomi Syariah Teori Dan Terapan, 10(4), 391–402. Https://Doi.Org/10.20473/Vol10iss20234pp391-402
Ummah, M. S. (2019). Efektivitas Strategi Pemasaran Produk Tabungan Haji Dalam Meningkatkan Keunggulan Kompetitif Di Bri Syariah Kantor Cabang Pembantu Bojonegoro. In Sustainability (Switzerland) (Vol. 11, Issue 1, Pp. 1–14). Https://Goo.Gd/743aw
Uyun, L., & Mubaroq, A. C. (2025). The Effect Of Corporate Social Responsibility Disclosure On Earnings Management In Energy Sector Companies Listed On The Indonesia Stock Exchange (Idx) For 2019–2021. Journal Of Management Economics And Financial Accounting (Jomefa), 1(1), 6–16. Https://Doi.Org/10.69714/Hq24tt67
Wahyu, N. (2020). Pengaruh Islamic Corporate Social Responsibility (Icsr) Terhadap Reputasi Perusahaan (Studi Empiris Pada Bank Umum Syariah Di Indonesia Yang Terdaftar Di Otoritas Jasa Keuangan Indonesia Periode 2014-2017). Adzkiya: Jurnal Hukum Dan Ekonomi Syariah, 7(1), 37–58. Https://Doi.Org/10.32332/Adzkiya.V7i1.1471
Copyright (c) 2026 Putri Salbiah Sukma Br. Nst, Sri Rahayu, Jalilah Ilmiha
This work is licensed under a Creative Commons Attribution 4.0 International License.
Authors who publish with this journal agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under Creative Commons Attribution 4.0 International License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (Refer to The Effect of Open Access).
