Would Happiness Be Able to Mediate CSR to Increase Corporate Performance?
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Abstract
This study aims to analyze the effect of Corporate Social Responsibility (CSR) on company performance and the role of the happiness index as a mediating variable. The happiness index has become a measure of well-being. Happiness is something abstract and qualitative but is starting to be used as a measuring tool. This research was conducted on energy sector companies listed on the Indonesia Stock Exchange (IDX) from 2019 to 2023, using a purposive sampling method involving 24 companies. Data was obtained from the company's financial statements, the World Happiness Report publication, and the Indonesian Statistics. Quantitative data analysis was carried out using the SmartPLS program. The results showed that CSR has no significant effect on company performance or the happiness index, while the happiness index has a significant effect on company performance. However, the happiness index does not mediate the relationship between CSR and corporate performance.
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References
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Garriga, E., & Melé, D. (2004). Corporate Social Responsibility Theories: Mapping the Territory. Journal of Business Ethics, 53, 51–71. https://doi.org/10.1007/978-94-007-4126-3_4
Gauthier, C. (2005). Measuring Corporate Social and Environmental Performance: The Extended Life-Cycle Assessment. Journal of Business Ethics, 59, 199–206.
Ghozali, I. (2008). Structural Equation Modeling: Metode Alternatif dengan Partial Least Square (PLS). Badan Penerbit Universitas Diponegoro.
Gössling, T., & Vocht, C. (2007). Social role conceptions and CSR policy success. Journal of Business Ethics, 74(4), 363–372. https://doi.org/10.1007/s10551-007-9512-3
Griffin, J. J., & Mahon, J. F. (1997). The Corporate Social Performance and Corporate Financial Performance Debate: Twenty-Five Years of Incomparable Research. Business and Society, 36(1), 5–31. https://doi.org/10.1177/000765039703600102
Haidt, J. (2010). The Happiness Hypothesis: Putting Ancient Wisdom and Philosophy to the Test of Modern Science. Australian Journal of Adult Learning, 50(1), 199–203.
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