The study had an objective to examine the effects of work environment to
the financial performance of a company with corporate social responsibility
(CSR) disclosure as the intervening variable. The environment perfomance was
measured through the program of the rating of the company perfomance in
managing the living environment (PROPER) and it was revealed in its annual
report. The CSR was seen from the index of corporate social responsibility (CSRI)
and the financial performance would be proved from its return on assets (ROA).
The sample used in this study was the mining companies registered in the
Indonesian Stock Exchange, which had joined the PROPER program and issued
their annual report in 2008-2011. The number of samples was 49 companies. The
instruments to analyze were the path analysis and sobel test.
The result of analysis indicated that the environment performance had a
negative significant on the companies’ financial performance, but it had a positive
significant on the corporate social responsibility (CSR) disclosure. The disclosure
of corporate social responsibility had no significant effect on the companies’
financial performance. However, the disclosure of CSR was not the variable
which mediated the effect of environment performance to the companies’ financial
performance.