The Impact of Corporate Social Responsibility to Corporate Resilience During Covid-19 Pandemic: Case of IDX Listed Company
| Main Authors: | Adaningtyas, Sharfina; School of Business and Management, Institut Teknologi Bandung, Koesrindartoto, Deddy Priatmodjo; School of Business and Management, Institut Teknologi Bandung |
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| Format: | Article info application/pdf eJournal |
| Bahasa: | eng |
| Terbitan: |
Proceedings of International Conference on Management in Emerging Markets (ICMEM) SBM ITB
, 2022
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| Online Access: |
https://journal.sbm.itb.ac.id/index.php/ProceedingSBMITB/article/view/4690 https://journal.sbm.itb.ac.id/index.php/ProceedingSBMITB/article/view/4690/1580 |
Daftar Isi:
- During the coronavirus (COVID-19) pandemic, many companies became actively involved in various corporate social responsibility (CSR) activities to highlight their resilience to investors. However, there are still many companies that don’t publish sustainability report to provide an overview of their social responsibility disclosures. This research aims to know the effect of corporate social responsibility interpreted by GRI Index on corporate resilience during the COVID-19 pandemic in Indonesia. The research conducted on all sector publicly listed companies in Indonesia Stock Exchange for 2020. The methodology used in this research is data panel fixed effect model (FEM) regression with cross-section weights to examine the corporate resilience interpreted by the abnormal stock return. Firm performance is used as a control variable interpreted by return on asset (ROA). The result indicated that corporate social responsibility simultaneously has a significant effect on corporate resilience. ROA has no relationship and influence to support CSR’s strong influence on abnormal stock return. The result also emerges that perhaps there is a pronounced individual and time effect. This research suggests it is better for investors to be selective in the selecting the stock of the companies and suggest the company to focus on disclosing CSR using GRI Index 2016. Keywords: Corporate Social Responsibility, Corporate Resilience, Abnormal Stock Returns, GRI Index, COVID-19.