THE EFFECT OF GOOD CORPORATE GOVERNANCE, CORPORATE SOCIAL RESPONSIBILITY, AND INTELLECTUAL CAPITAL ON FINANCIAL PERFORMANCE OF MANUFACTURING COMPANIES IN THE FOOD AND BEVERAGE SUB-SECTOR AND NON-DURABLE HOUSEHOLD PRODUCTS

Abstract

This study aims to provide empirical evidence regarding the influence of Good Corporate Governance (GCG), Corporate Social Responsibility (CSR), and Intellectual Capital (IC) on the financial performance of manufacturing companies in the food and beverage as well as non-durable household products sub-sectors. This research employs a quantitative method using secondary data obtained from companies' annual reports and sustainability reports. The study population includes manufacturing companies in the food and beverage as well as non-durable household products sub-sectors listed on the Indonesia Stock Exchange (IDX) during the 2021–2023 period. The sample consists of 109 observations selected using purposive sampling. The collected data were analyzed using panel data regression with the assistance of EViews 12 software. The findings indicate that Intellectual Capital has a positive and significant effect on the financial performance of the companies. In contrast, GCG, proxied by the educational background and gender diversity of the board of commissioners, and CSR do not have a significant effect on the companies’ financial performance.