Financial Impact of CSR Practices and Public Ownership in Indonesian Plantation Sector

Abstract

This investigation examines financial implications of corporate social responsibility disclosure and public ownership within Indonesia's plantation sector during 2020-2023. Employing purposive sampling of 11 firms listed on the Indonesia Stock Exchange, the study applies multiple linear regression analysis. CSR disclosure is measured using the GRI-G4 index, while financial performance is proxied by return on assets. Results demonstrate that CSR disclosure exhibits positive but statistically insignificant effects on financial performance (β = 7.259, p = 0.210), while public share ownership significantly and positively influences ROA (β = 0.228, p = 0.007). The combined model accounts for 17% of ROA variance, highlighting strategic yet nuanced roles of CSR and ownership structure in shaping financial outcomes.