HUBUNGAN CORPORATE SOCIAL RESPONSIBILITY DAN CORPORATE GOVERNANCE TERHADAP KINERJA PERUSAHAAN PADA BUMN SEKTOR MANUFAKTUR DI INDONESIA: SYSTEMATIC LITERATUR REVIEW

Abstrak

Penelitian ini bertujuan menelaah hubungan antara Corporate Social Responsibility (CSR) dan corporate governance, terhadap kinerja perusahaan pada BUMN sektor manufaktur di Indonesia. Menggunakan pendekatan Systematic Literature Review (SLR), sebanyak 10 artikel terbitan 2015–2025 dikaji untuk menjawab tiga pertanyaan utama. Hasil menunjukkan bahwa implementasi CSR yang terintegrasi dan mengacu pada konsep Triple Bottom Line cenderung berdampak positif terhadap efisiensi dan reputasi perusahaan. Namun, pengaruhnya tidak selalu signifikan jika dilakukan secara simbolik. Praktik corporate governance juga menunjukkan hasil bervariasi; elemen seperti kepemilikan manajerial dan ukuran dewan berdampak positif, sedangkan indikator lain seperti komisaris independen belum tentu efektif. Studi yang mengkaji keterkaitan CSR dan corporate governance secara simultan masih terbatas, namun beberapa temuan menyiratkan bahwa keduanya dapat saling melengkapi dalam meningkatkan kinerja dan keberlanjutan perusahaan.

This study aims to examine the relationship between Corporate Social Responsibility (CSR) and corporate governance on firm performance in Indonesian state-owned manufacturing enterprises (BUMN). Using a Systematic Literature Review (SLR) approach, ten articles published between 2015 and 2025 were analyzed to address three main research questions. The findings indicate that CSR implementation integrated into business strategy and based on the Triple Bottom Line concept tends to positively impact efficiency and corporate reputation. However, the effect may be insignificant when CSR is symbolic or merely administrative. Corporate governance practices also show mixed results; elements such as managerial ownership and board size positively influence performance, while indicators like independent commissioners or institutional ownership may not be effective. Few studies directly examine the combined effect of CSR and corporate governance, but several suggest that both can complement each other in enhancing performance and sustainability, especially in the context of state-owned manufacturing firms.