SUSTAINABILITY REPORTING AND SUSTAINABLE GROWTH RATE: COVID-19 AS MODERATING VARIABLE
Authors: Theresia Violin Meidy , Triwacananingrum Wijaya 
Published: May 2022

Riset ini dilakukan untuk mengungkapkan pengaruh pelaporan keberlanjutan terhadap sustainable growth rate perusahaan, serta apakah situasi pandemi COVID-19 memoderasi pengaruh tersebut. Penelitian ini didasari dengan adanya value creation dari pelaporan keberlanjutan yang berhubungan erat dengan pertumbuhan perusahaan secara jangka panjang, namun ditemukan masih minimnya penelitian yang menghubungan pelaporan keberlanjutan dengan sustainable growth rate, sebagai salah satu alat krusial untuk mengukur pertumbuhan perusahaan. Variabel moderasi COVID-19 juga diikutsertakan karena rentang waktu penelitian 2018 - 2020 mencakup periode 2020 sebagai tahun dimulainya COVID-19 merebak di Indonesia. Data penelitian ini bersumber dari laporan keuangan dan laporan keberlanjutan perusahaan yang terdaftar di BEI dengan sampel penelitian yang berjumlah 43 perusahaan. Hasil penelitian ini menunjukkan bahwa pelaporan keberlanjutan berpengaruh signifikan terhadap sustainable growth rate dengan arah pengaruh yang bervariasi tergantung dimensi pelaporan keberlanjutan berdasarkan GRI Standards, yaitu pengaruh positif oleh dimensi ekonomi dan lingkungan, dan pengaruh negatif oleh dimensi sosial. Di samping itu, penelitian ini juga membuktikan pandemi COVID-19 memoderasi hubungan pelaporan keberlanjutan dimensi ekonomi, lingkungan, dan sosial dengan sustainable growth rate. Penemuan ini dapat berguna bagi berbagai pihak, terutama manajemen perusahaan, dalam merencanakan strategi keuangan dan kegiatan pelaporan keberlanjutan untuk mengoptimalkan value creation yang dapat dihasilkan.

This research is conducted to demonstrate the impact of sustainability reporting on the sustainable growth rate, as well as to prove whether the COVID-19 pandemic situation moderated this impact. The background of this research is that the value creation of sustainability reporting is closely related to the company's long-term growth. However, it is found that research connecting sustainability reporting to sustainable growth rate, as one of the crucial tools to measure growth, is still very rare. The moderating variable COVID-19 is also included because the research period 2018 - 2020 covers the 2020 as the year the COVID-19 outbreak began in Indonesia. The data are sourced from financial and sustainability reports of companies listed on the IDX with a final sample of 43 companies. The result of this research shows that sustainability reporting has a significant impact on sustainable growth rate in various directions according to the sustainability reporting dimensions based on GRI Standards: positive influence by economic and environmental dimensions, and negative influence by social dimension. Besides, this research also finds that the COVID-19 pandemic moderates the relationship between the economic, environmental, and social dimensions of sustainability reporting and sustainable growth rate. These findings are useful for various parties and organizations, especially company management, in planning financial strategies and sustainability reporting activities to optimize the value creation that can be generated.