Prosiding Konferensi Ilmiah Akuntansi IX
APAKAH PENGUNGKAPAN CSR MAMPU MENGURANGI TINGKAT FINANCIAL DISTRESS? ANALISIS PADA PERIODE PANDEMI COVID 19
Abstract
CSR disclosure is very much needed by companies in demonstrating the company's ability to survive during the COVID 19 pandemic. CSR disclosure can increase stakeholder confidence so as to reduce the level of financial distress. Using manufacturing companies listed on the Indonesia Stock Exchange during the pandemic with a fixed effect multiple regression model, this study shows that CSR disclosure in the annual report has a negative effect on the level of financial distress. However, further testing with propensity score matching shows that CSR disclosure in the annual report is not able to reduce the level of financial distress. This shows that CSR disclosure in the annual report is considered good by stakeholders but does not make stakeholders do something that can reduce the level of financial distress. This result could be due to the fact that CSR disclosure in the annual report is not based on the information needs of stakeholders, unlike sustainability reports. Therefore, this research supports SEOJK No. 16 regarding the obligation to make sustainability reports for registered companies.
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