PENGARUH MATERIAL FLOW COST ACCOUNTING, CORPORATE SOCIAL RESPONSIBILITY, DAN KINERJA LINGKUNGAN TERHADAP KINERJA KEUANGAN

The purpose of this study is to investigate how the financial performance of manufacturing companies listed on the Indonesia Stock Exchange for the years 2021–2023 is impacted by MFCA, CSR, and environmental performance. Multiple linear regression analysis is the quantitative method that is employed. The findings demonstrate that while CSR has a considerable negative impact on financial performance, MFCA and environmental performance have a significant beneficial impact. This finding bolsters the applicability of legitimacy theory and stakeholder theory, which highlight how crucial it is to incorporate sustainability considerations into business planning. This study sheds light on how MFCA, CSR, and environmental performance contribute to striking a balance between financial performance and social responsibility.