Pengaruh Islamic Corporate Social Responsibility dan Good Corporate Governance terhadap Kinerja Keuangan dengan Dewan Pengawas Syariah (DPS) sebagai Variabel Moderasi pada Industri Perbankan Syariah Periode 2015-2024

Abstrak

The rapid growth of Indonesia's Islamic banking industry has not been accompanied by consistently optimal financial performance, while previous studies examining the effects of Islamic Corporate Social Responsibility (ICSR) and Good Corporate Governance (GCG) on financial performance have produced inconsistent findings. This study aims to analyze the effects of ICSR and GCG on the financial performance of Islamic banks and to examine the moderating role of the Sharia Supervisory Board (SSB). The study is grounded in Stakeholder Theory (Freeman, 1984), Agency Theory (Jensen & Meckling, 1976), and Sharia Enterprise Theory (Triyuwono, 2006) as complementary conceptual frameworks. Previous studies conducted by Nabillah and Oktaviana (2022), Firmansyah and Hidayat (2024), and Carmidah et al. (2025) serve as the primary empirical references. This research employed a quantitative approach using balanced panel data from five Islamic Commercial Banks in Indonesia during the 2015–2024 period, resulting in 50 observations. Secondary data were collected through documentation of annual reports and GCG reports obtained from the official websites of the banks and the Financial Services Authority (OJK). Data were analyzed using the Random Effect Model (REM) and Moderated Regression Analysis (MRA) with mean-centering through EViews 12.  The results indicate that ICSR has a positive and significant effect on Return on Assets (ROA) (coefficient = 0.1731; p-value = 0.0199), whereas GCG does not significantly affect any of the financial performance proxies. Furthermore, the SSB, proxied by board size and meeting frequency, was not proven to moderate the relationship between ICSR and GCG and financial performance. However, the frequency of SSB meetings has a direct positive effect on Return on Equity (ROE). This study concludes that a strong commitment to Sharia-based social responsibility disclosure contributes to improving bank asset profitability. However, the effectiveness of governance mechanisms still requires improvement in terms of quality rather than merely structural characteristics. These findings provide implications for Islamic banking management and regulators in strengthening the implementation of ICSR, GCG, and the supervisory role of the SSB to support sustainable financial performance.