Optimizing Food & Baverage Company Performance Through Governance and Social Responsibility: Random Effect Model Approach

Agus Dwianto; Annisa Qurrota  A'yun; Lamin Kaira; Daniel Kassim  Sesay; Ibrahim Rahman  Turay

doi:10.12928/jampe.v3i2.9441

Authors

Agus Dwianto Universitas Muhammadiyah Surakarta, Indonesia
Annisa Qurrota A'yun Universitas Diponegoro, Indonesia
Lamin Kaira Universitas Muhammadiyah Surakarta, Indonesia
Daniel Kassim Sesay Ernest Bai Koroma University of Science and Technology Sierra Leone, West Africa
Ibrahim Rahman Turay Ernest Bai Koroma university of Science and Technology Sierra Leone, West Africa

DOI:

https://doi.org/10.12928/jampe.v3i2.9441

Keywords:

Company Performance, Corporate Governance, Corporate Social Responsibility

Abstract

The purpose of this study is to improve the efficiency of food and beverage companies listed on the Indonesia Stock Exchange by implementing GCG & CSR principles. Using panel data from 95 companies covering the period 2018-2022 and using the Random Effects model, the regression analysis shows that the Board of Commissioners has no statistically significant effect on company performance. In contrast, the Audit Committee shows a significant and beneficial impact. The novelty of this study emphasizes the complex nature of the interaction between GCG parameters, CSR, and business success in the food and beverage industry. Practical suggestions include increasing the authority of the Audit Committee to improve performance and applying CSR more contextually to reduce the impact of the Board of Commissioners. The contribution of this research is a valuable understanding of the interaction between governance dynamics and CSR in the context of strategic decision-making.

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