Kinerja Keuangan sebagai Indikator Keberlanjutan Perusahaan:Kajian Sistematis atas Perusahaan Syariah dan Non Syariah Tahun 2020-2025
Abstract
Penelitian ini bertujuan untuk mengkaji peran indikator kinerja keuangan sebagai alat ukur keberlanjutan perusahaan syariah dan non-syariah di Indonesia selama periode 2020–2025. Dengan menggunakan pendekatan systematic literature review terhadap 46 artikel ilmiah terpilih serta analisis bibliometrik melalui VOSviewer, ditemukan bahwa rasio-rasio keuangan seperti ROA, ROE, NPM, DER, dan TATO merupakan indikator dominan dalam menilai efisiensi dan profitabilitas perusahaan. Integrasi aspek Environmental, Social, and Governance (ESG), terutama pada dimensi lingkungan dan tata kelola, menunjukkan pengaruh positif terhadap kinerja keuangan jangka panjang. Selain itu, perusahaan syariah menunjukkan tren positif dalam integrasi nilai-nilai maqashid shariah dalam strategi keberlanjutan, meskipun masih tertinggal dari sisi profitabilitas dibanding perusahaan non-syariah. Hasil pemetaan kata kunci juga mengindikasikan arah baru riset pada topik ESG dan entitas syariah. Kajian ini menegaskan pentingnya pendekatan holistik yang menggabungkan indikator keuangan dan keberlanjutan sebagai dasar pengambilan keputusan strategis dan kebijakan korporasi yang bertanggung jawab.
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Sustainalytics. (2024). Company ESG Risk Ratings. Sustainalytics.
van Eck L., N. J. . W. (2010). Software survey: VOSviewer, a computer program for bibliometric mapping. Scientometrics, 84, 523 -538. https://doi.org/10.1007/s11192-009-0146-3
Van Eck, N. J., & Waltman, L. (2010). Software survey: VOSviewer, a computer program for bibliometric mapping. Scientometrics, 84(2), 523 -538. https://doi.org/10.1007/s11192-009-0146-3
Ahmad, N., & Rahmawati, D. (2024). ESG and sectoral disclosure gaps in Islamic-listed companies: Evidence from Indonesia. Jurnal Keuangan Dan Bisnis Islam, 6(1), 15 -29.
BEI. (2024). Laporan ESG dan indeks IDX ESG. Bursa Efek Indonesia. https://www.idx.co.id/produk/idx-esg/
Chapra, M. U. (2000). The Future of Economics: An Islamic Perspective. The Islamic Foundation.
Dewi, R. N., & Yanto, H. (2023). ESG performance and firm value in emerging market: Empirical study from Indonesia. Asian Journal of Business and Accounting, 16(1), 45 -65. https://doi.org/10.22452/ajba.vol16no1.3
Dewi, S. R., & Yanto, H. (2023). The influence of financial ratios on firm value: Empirical study on Indonesian listed companies. Journal of Applied Accounting and Taxation, 8(2), 145 -158. https://doi.org/10.30871/jaat.v8i2.5284
Elkington, J. (1997). Cannibals with Forks: The Triple Bottom Line of 21st Century Business. In Sustainability (Switzerland) (First publ, Vol. 11, Issue 1). Capstone Publishing Limited. http://scioteca.caf.com/bitstream/handle/123456789/1091/RED2017-Eng-8ene.pdf?sequence=12&isAllowed=y%0Ahttp://dx.doi.org/10.1016/j.regsciurbeco.2008.06.005%0Ahttps://www.researchgate.net/publication/305320484_Sistem_Pembetungan_Terpusat_Strategi_Melestari
Friede, G., Busch, T., & Bassen, A. (2015). ESG and financial performance: Aggregated evidence from more than 2000 empirical studies. Journal of Sustainable Finance & Investment, 5(4), 210 -233. https://doi.org/10.1080/20430795.2015.1118917
Gray, R. (2010). Is accounting for sustainability actually accounting for sustainability… and how would we know? An exploration of narratives of organisations and the planet. Accounting, Organizations and Society, 35(1), 47 -62. https://doi.org/10.1016/j.aos.2009.04.006
Haniffa. (2007). Ethical Identity of Islamic Banks. https://doi.org/https://doi.org/10.1007/s10551-006-9276-7
Haniffa, R., & Hudaib, M. (2007). Exploring the Ethical Identity of Islamic Banks via Communication in Annual Reports. Journal of Business Ethics, 76, 97 -116. https://doi.org/10.1007/s10551-006-9272-5
Harzing, A. W. (2007). Publish or Perish. Tarptautinis Verslas, 28. https://harzing.com/resources/publish-or-perish
Nugroho, A., & Hidayah, N. (2022). Rasio keuangan dan pengungkapan ESG terhadap nilai perusahaan: Studi di pasar modal Indonesia. Jurnal Akuntansi Dan Keuangan Indonesia, 19(2), 150 -165. https://doi.org/10.21002/jaki.v19i2.1600
OECD. (2020). ESG Investing: Practices, Progress and Challenges. OECD Publishing. https://doi.org/10.1787/1689c9e2-en
OJK; (n.d.). Keputusan Ketua Dewan Komisioner OJK tentang Daftar Efek Syariah. Otoritas Jasa Keuangan. https://www.ojk.go.id
OJK. (2017). Peraturan OJK No. 51/POJK.03/2017 tentang Penerapan Keuangan Berkelanjutan bagi Lembaga Jasa Keuangan, Emiten, dan Perusahaan Publik.
Page, M. J. (2021). The PRISMA 2020 statement: An updated guideline for reporting systematic reviews. BMJ, 372, n71. https://doi.org/10.1136/bmj.n71
Rachmawati, I., & Putra, A. A. (2022). ESG disclosure and financial performance: Evidence from listed firms in Indonesia. Asian Journal of Accounting Research, 7(2), 210 -224. https://doi.org/10.1108/AJAR-06-2021-0132
Rachmawati, R., & Putra, F. (2022a). Environmental disclosure dan profitabilitas perusahaan: Studi empiris sektor manufaktur. Jurnal Akuntansi Multiparadigma, 13(1), 104 -119. https://doi.org/10.18202/jamal.2022.04.13007
Rachmawati, R., & Putra, W. P. B. (2022b). The effect of Islamic digital banking service quality on customer satisfaction and financial performance. Business and Entrepreneurial Review, 22(1), 56 -72. https://doi.org/10.25105/ber.v22i1.13171
Refinitiv. (2024). ESG Scores and Ratings Report. Refinitiv.
Snyder, H. (2019). Literature review as a research methodology: An overview and guidelines. Journal of Business Research, 104, 333 -339. https://doi.org/10.1016/j.jbusres.2019.07.039
Sustainalytics. (2024). Company ESG Risk Ratings. Sustainalytics.
van Eck L., N. J. . W. (2010). Software survey: VOSviewer, a computer program for bibliometric mapping. Scientometrics, 84, 523 -538. https://doi.org/10.1007/s11192-009-0146-3
Van Eck, N. J., & Waltman, L. (2010). Software survey: VOSviewer, a computer program for bibliometric mapping. Scientometrics, 84(2), 523 -538. https://doi.org/10.1007/s11192-009-0146-3
Published
2025-06-30
How to Cite
Nurhayati, N., & Rahayu, S. (2025). Kinerja Keuangan sebagai Indikator Keberlanjutan Perusahaan:Kajian Sistematis atas Perusahaan Syariah dan Non Syariah Tahun 2020-2025. Jurnal Manajemen Dan Penelitian Akuntansi (JUMPA), 18(1), 163-174. https://doi.org/https://doi.org/10.58431/jumpa.v18i1.320
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Articles
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