Deconstructing the Concept of Corporate Social Responsibility: Social Investment on Luwu Indigeous Society

Rahmawati Rahmawati


This research deconstructed the values contained in the concept of Corporate Social Responsibility (CSR) which is used by company for social investment aimed at prospering the community. In fact, consideration on such investment is merely for the profit and reputation of the company. The logos in this research is capitalist which is still the ideology of CSR so that deconstruction is conducted using symbol value of Kedatuan Luwu (Pakka and Payung Ri Luwu). The reality of corporate social responsibility is still on the implementation of handling negative impact caused by company activity. The company operates still with the purpose of maximizing profit which is still filled with material factors based on capitalist ideology. The deconstructed value is the value of profit that is taken into consideration is material in social activities that lead to the concept of capitalism. The intended profit should be the profit that becomes the economic impact of the activity so that the company earns profit and reputation done with dignity before the community and God. The methodology used was qualitative with the paradigm of postmodernism by deconstructing the indigenous symbols of Kedatuan Luwu by including "ade" and "sara" as the order that should be applied in the implementation of CSR to be accepted by local indigenous people. The result of this research was obtained after the researcher deconstructed the concept of CSR proposed by Elkington about Triple Bottom Line (People, Planet and Profit), and analyzing Triyuwono's deconstruction result by adding Prophet and God to CSR concept. From our analysis we found that conflicts between companies and indigenous people were due to the concept of CSR that only emphasized the impact of profit, planet, people, prophet and God were not enough if the way to implement and interact with the local community is still capitalist. Therefore, this study found that its solution is by destroying the logos of capitalism and deconstructing it using the traditional philosophy of Kedatuan Luwu "Pattuppu ri Ade'E Pasanre Ri Sara'E. The philosophy means that whatever conducted in Tana Luwu must be based on the Luwu customs and should not be contrary to the religion.


corporate social responsibility; profit; capitalism; reputation; deconstruction

Full Text:

Download Article


Al-Fayyadl, M. (2005). Derrida. Yogyakarta: Penerbit LKiS.

Anaada, 2013. Kekuasaan Negara Dalam Struktur Adat Masyarakat Miangas. Jurnal Politico, 1(3).

Andriof, J. & Waddock, S.A. (2002). Unfolding stakeholder engagement. In Andriof, J.,Waddock, S.A.,Husted, B.W. and Rahman, S.S. (Eds), Unfolding Stakeholder Thinking: Theory, Responsibility and Engagement, Greenleaf Publishingin cellular industry of Pakistan. African Journal of Business and Management, 4(4), 475-485.

Bao. B, (2013). Kuatnya Kekuasaan Ondoafi di Tengah Masyarakat Urban. E Jurnal Politika.

Barnett M. L. (2007). Stakeholder influence capacity and the variability of financial returns to corporate social responsibility. Academy of Management Review. 32(3), 794–816. doi: 10.5465/amr.2007.25275520

Bebbington, J. (1997). Engagement, Education and Sustainability: A Review Essay on Environmental Accounting. Accounting, Auditing &Accountability Journal, 10(3), 365-381. doi: 10.1108/09513579710178115

Belkaoui, A., & Karpik, P. G. (1989). Determinants of the corporate decision to disclose social information. Accounting, Auditing and Accountability Journal, 2(1), 36-51. doi: 10.1108/09513578910132240

Botosan, C., (1997). Disclosure level and the cost of equity capital. The Accounting Review, 72, 323-349.

Brigham, E.F., Gapenski, L.C., & Ehrhardt, M.C. (1999). Financial management Theory and practice. Fort Worth: Dryden Press.

Busch, T., & Hoffmann, V. H. (2011). How hot is your bottom-line? Linking carbon and financial performance. Business & Society, 50(2), 233-265. doi: 10.1177/0007650311398780

Campbell, J.L. (2004). Institutional change and globalization. Princeton, NJ: Princeton University Press.

Campello, M., Graham, J.R., & Harvey, C.R. (2010). The real effects of financial constraints: Evidence from a financial crisis. Journal of Financial Economics, 97(3), 470-487. doi: 10.1016/j.jfineco.2010.02.009

Carpenter, R.E., Fazzari, S.M., & Petersen, B.C. (1998). Financing constraints and inventory investment: A comparative study with high-frequency panel data. Review of Economics and Statistics, 80(4), 513-519. doi: 10.1162/003465398557799

Carroll, A. (1994). Social Issues in Management Research: Experts Views, Analysis and Commentary. Business and Society, 33(1), 5-29. doi: 10.1177/000765039403300102

Chambers, E., Chapple W., Moon, J., & Sullivan, M. (2003). CSR in Asia: A Seven Country Study of CSR Website Reporting’. Paper was Presented in Asia Conference, Kuala Lumpur.

Chava, S., (2010). Socially responsible investing and expected stock returns, Working Paper, Georgia Institute of Technology.

Chen, K., Chen, Z., & Wei, K. (2009). Legal protection of investors, corporate governance, and the cost of equity capital. Journal of Corporate Finance, 15, 273–289. doi: 10.1016/j.jcorpfin.2009.01.001

Cho, C. H., & Patten, D. M. (2007). The role of environmental disclosures as tools of legitimacy: A research note. Accounting, Organizations and Society, 32(7–8), 639–647. doi: 10.1016/j.aos.2006.09.009

Clarkson, (2008). Revisiting the relation between environmental performance and environmental disclosure: An empirical analysis. Accounting, Organizations and Society, 33(4–5), 303–327. doi: 10.1016/j.aos.2007.05.003

Collase, B. (2009). Analiza financiara a intreprinderii, Traducere deNiculai Tabara, Ed.Tipo. Moldoca: Iasi.

Davis, K. (1973). The Case for and against Business Assumption of Social Responsibilities. Academy of Management Journal, 16(2), 312-22. doi: 10.5465/255331

Derwall, J. & Verwijmeren, P. (2007). Corporate social responsibility and the cost of equity capital, Working Paper, Erasmus University.

Dhaliwal, D. S., Li, O., Tsang, A., & Yang, G. (2011). Voluntary non-financial disclosure and the cost of equity capital: the initiation of corporate social responsibility reporting. The Accounting Review, 86(1), 59-100. doi: 10.2308/accr.00000005

Dowling, J., & Pfeffer, J. (1975). Organizational legitimacy: Social values and organizational behavior. Pacific sociological review, 18(1), 122-136. doi: 10.2307/1388226

Elkington, J. 1997. Cannibals With Forks: The Triple Bottom Line of 21st Century Business. Oxford: Capstone.

Ferreira, A. L., Branco, M. C. & Moreira, J. A. (2012). Factors influencing intellectual capital disclosure by Portuguese companies. International Journal of Accounting and Financial Reporting, 2(2), 278-298. doi: 10.5296/ijafr.v2i2.2844

Fombrun, C. & Shanley, M., (2000). What's in a name? Reputation building and corporate strategy. Academy of Management Journal, 33(2), 233-258. 10.5465/256324

Freedman, M. & B. Jaggi (1994). Analysis of the Association Between Pollution Performance and Input Cost Factors: The Case of Electric Utility Plants. Journal of Accounting and Public Policy, 13, 31-48. doi: 10.1016/0278-4254(94)90011-6

Freeman, R. E. (1984). Strategic Management: A Stakeholder Approach. Boston: Pitman.

Freeman, I., & Hasnaoui, A. (2011). The meaning of corporate social responsibility: The vision of four nations. Journal of Business Ethics, 100(3), 419-443. doi: 10.1007/s10551-010-0688-6

Garriga, E. & Mele, D. (2004). Corporate Social Responsibility Theories: Mapping and Territory. of Business Ethics, 53(1-2), 51-74. doi: 10.1023/B:BUSI.0000039399.90587.34

Gibson Ch. H. (1998). Citation in. Citation in : Business performances: between Profitability, Return and growth. URL:

Giner, B. (1997). The influence of company characteristics and accounting regulation on information disclosed by Spanish firms. European Accounting Review, 6(1), 45–68. doi: 10.1080/096381897336863

Goss, A., & G. Roberts. 2011. The impact of corporate social responsibility on the cost of bank loans. Journal of Banking and Finance, 35, 1794-1810. doi: 10.1016/j.jbankfin.2010.12.002

Gray, R., Javad, P. & Sinclair. (2001).Social and Environmental Disclosure and Corporate Characteristics: a Research Note. Journal of Business Finance and Accounting, 28(3), 327-356. doi: 10.1111/1468-5957.00376

Gray, R. (2002). The social accounting project and accounting organizations and society: Privileging engagement, imaginings, new accountings and pragmatism over critique? Accounting. Organizations and Society, 27, 687-708. doi: 10.1016/S0361-3682(00)00003-9

Gray, R., Owen, D., & Adams, C. (1996) Accounting and Accountability. Harlow: Prentice Hall.

Gray, R., Owen, D., and Maunders, K. (1987) Corporate Social Reporting: Accounting and Accountability. Hemel Hempstead: Prentice Hall.

Greuning H.V. (2005). Standarde Internaţionale de RaportareFinanciară. Bucureşti: Institutul Irecson.

Griffin, A. (2008) New Strategies for reputation management: Gaining control of issues, crises and corporate social responsibility. Kogan Page Limited

Groysberg, B., Healy, P., Nohria, N., & Serafeim, G. (2011). What factors drive analyst forecasts?. Financial Analysts Journal, 67(4), 18-29. doi: 10.2469/faj.v67.n4.4

Hackston, D., & Milne, M. (1996). Some determinants of social and environmental disclosures in New Zealand companies. Accounting, Auditing and Accountability Journal, 9(1), 77–108. doi: 10.1108/09513579610109987

Hail, L., & Leuz, C. (2006). International differences in cost of equity capital: Do legal institutions and securities regulations matter?. Journal of Accounting Research 44, 485-531. doi: 10.1111/j.1475-679X.2006.00209.x

Hall, B.H., & Lerner, J. (2010). The Financing of R&D and Innovation. In: Hall, B.H., and Rosenberg, N. (eds.), Handbook of The Economics of Innovation. North-Holland: Elsevier.

Haniffa, R. M., & Cooke, T. E. (2002). Culture, corporate governance and disclosure in Malaysian corporations. Abacus, 38(3), 317-349. doi: 10.1111/1467-6281.00112

Haron, H., Yahya,S., Chambers, A., Manasseh, S., & Ismail, I. (2004). Level of Corporate Social Disclosure in Malaysia. Malaysian Accounting Review, 5(1), 159-180.

Hassan, O., Giorgioni, G. & Romilly, P. (2006). The extent of accounting disclosure and its determinants in an emerging capital market: the case of Egypt. International Journal of Accounting, Auditing and Performance Evaluation, 3(1), 41-67. doi: 10.1504/IJAAPE.2006.010102

Hasseldine, J., Salama, A. & Toms, J. (2005). Quantity versus quality: the impact of environmental disclosures on the reputation of UK Plcs. The British Accounting Review, 37(2), 153–164. doi: 10.1016/

Hawkins, D. E. (2006) Corporate Social Responsibility – Balancing Tomorrow’s Sustainability and Today’s Profitability. Palgrave Macmillan

Hillary, R. (2000). Small and Medium-Sized Enterprises and the Environment: Business Imperatives. Sheffield: Greenleaf Publishing.

Himmelberg, C.P., & Petersen, B.C. (1994). R & D and Internal Finance: A Panel Study of Small Firms in HighTech Industries. Review of Economics and Statistics, 76(1), 38-51.

Hubbard, R.G. (1998). Capital-market imperfections and investment. Journal of Economic Literature, 36, 193-225.

Husted, B. W. & Allen, D. B. (2007). Corporate Social Strategy in Multinational Enterprises: Antecedents and Value Creation. Journal Of Business Ethics, 74(4), 345-361. doi: 10.1007/s10551-007-9511-4

Idowu, S. O. (2012). Corporate social responsibility: a capitalist ideology?. International Journal of Social Entrepreneurship and Innovation, 1(3), 239-254. doi: 10.1504/IJSEI.2012.047628

Ioannou, I., & Serafeim, G. (2015). The impact of corporate social responsibility on investment recommendations: Analysts' perceptions and shifting institutional logics. Strategic Management Journal, 36(7), 1053-1081. doi: 10.1002/smj.2268

Ismail, K. N. I. K., & Chandler, R. (2005). Disclosure in the quarterly reports of Malaysian companies. Financial Reporting, Regulation and Governance, 4(1), 1-26. doi:

Jamali, D., & Mirshak, R. (2007). Corporate social responsibility (CSR): Theory and practice in a developing country context. Journal of business ethics, 72(3), 243-262. doi: 10.1007/s10551-006-9168-4

Kemp, M. (2001) Corporate Social Responsibility in Indonesia: Quixotic Dream or Confident Expectation? ,Technology, Business & Society, Programme Paper No. 6, Retrieved on August 16, 2004 from

Lamont, O., Polk, C., & Saaá-Requejo, J. (2001). Financial constraints and stock returns. The review of financial studies, 14(2), 529-554. doi: 10.1093/rfs/14.2.529

Lepoutre, J., & Heene, A. (2006). Investigating the impact of firm size on small business social responsibility: A critical review. Journal of Business Ethics, 67(3), 257-273. doi: 10.1007/s10551-006-9183-5

Mackey, A., Mackey, T. B., & Barney, J. B. (2007). Corporate social responsibility and firm performance: Investor preferences and corporate strategies. Academy of Management Review, 32(3), 817-835. doi: 10.5465/amr.2007.25275676

Margolis, J. D., Elfenbein, H. A., Walsh, J. P. (2009). Does it Payto be Good…And does it Matter? A Meta-Analysis of the Relationship Between Corporate Social and Financial Performance. WorkingPaper, Harvard University.

Mathews, M. R. (1993). Socially responsible accounting. London: CRC Press.

Mathews, M. R. (1997). Twenty-five years of social and environmental accounting research: is there a silver jubilee to celebrate?. Accounting, Auditing & Accountability Journal, 10(4), 481-531. doi: 10.1108/EUM0000000004417

McWilliams, A., & Siegel, D. (2001). Corporate social responsibility: A theory of the firm perspective. Academy of Management Review, 26(1), 117-127. doi: 10.5465/amr.2001.4011987

McWilliams, A., Siegel, D. D. S., & Wright, P. M. (2006). Corporate social responsibility: Strategic implications. Journal of management studies, 43(1), 1-18. doi: 10.1111/j.1467-6486.2006.00580.x

Naser, K., & Hassan, Y. (2013). Determinants of corporate social responsibilty reporting: evidence from an emerging economy. Journal of Contemporary Issues in Business Research , 2(3), 56-74.

Orlitzky, M., Schmidt, F. L., & Rynes, S. L. (2003). Corporate social and financial performance: A meta-analysis. Organization studies, 24(3), 403-441. doi: 10.1177/0170840603024003910

Padgett, R. C., & Galan, J. I. (2010). The effect of R&D intensity on corporate social responsibility. Journal of Business Ethics, 93(3), 407-418. doi: 10.1007/s10551-009-0230-x

Previts, G. J., & Bricker, R. (1994). Fact and theory in accounting history: Presentmindedness and capital market research. Contemporary Accounting Research, 10(2), 625-641. doi: 10.1111/j.1911-3846.1994.tb00408.x

Piliang, Y. A. (2005). Transpolitika: Dinamika Politik di dalam Era Virtualitas. Yogyakarta: Penerbit Jalasutra.

Rahmawati & Said, D. (2017). Factors Affecting Disclosure of Mining Corporate Social Responsibility In Indonesia. Qualitative and Quantitative Research Review, 2(2).

Richardson, A. J., & Welker, M. (2001). Social disclosure, financial disclosure and the cost of equity capital. Accounting, organizations and society, 26(7-8), 597-616. doi: 10.1016/S0361-3682(01)00025-3

Roberts, R. W. (1992). Determinants of corporate social responsibility disclosure: An application of stakeholder theory. Accounting, organizations and society, 17(6), 595-612.

Spence, M. (1973). Job market signaling. The Quarterly Journal of Economics, 87(3), 355-374. doi: 10.1016/B978-0-12-214850-7.50025-5

Sofyaningsih, S., & Hardiningsih, P. (2011). Struktur kepemilikan, kebijakan dividen, kebijakan utang dan nilai perusahaan. Dinamika keuangan dan perbankan, 3(1).

Sukamulja, S. (2005) Analisis Fundamental, Teknikal, dan Program Metastock.Finance Club Training. Working Paper Universitas Gadjah Mada.

Suwaidan, M. S., Al-Omari, A. M. D., & Haddad, R. H. (2004). Social responsibility disclosure and corporate characteristics: the case of Jordanian industrial companies. International Journal of Accounting, Auditing and Performance Evaluation, 1(4), 432-447. doi: 10.1504/IJAAPE.2004.006355

Tan, J. (2009). Institutional structure and firm social performance in transitional economies: Evidence of multinational corporations in China. Journal of Business Ethics, 86(2), 171. doi: 10.1007/s10551-009-0193-y

Toms, J.S. (2002). Company Resources, Quality Signals and the Determinants of Corporate Environmental Reputation: Some UK Evidence. The British Accounting Review, 34(3), 257-282. doi: 10.2139/ssrn.1714030

Thompson. P, & Zakaria, Z. (2004). Corporate Social Reporting in Malaysia. Journal of Corporate Citizenship, 13, 125- 126.

Triyuwono, I. (2016). Taqwa: Deconstructing Triple Bottom Line (TBL) to Awake Human's Divine Consciousness. Pertanika Journal Of Social Science And Humanities, 24, 89-103.

Waddock, S. A., & Graves, S. B. (1997). The corporate social performance–financial performance link. Strategic management journal, 18(4), 303-319. doi: 10.1002/(SICI)1097-0266(199704)18:4<303::AID-SMJ869>3.0.CO;2-G

Yuan, W., Bao, Y., & Verbeke, A. (2011). Integrating CSR initiatives in business: An organizing framework. Journal of Business Ethics, 101(1), 75-92. doi: 10.1007/s10551-010-0710-z



  • There are currently no refbacks.

Ruang Journal of Accounting and Investment,
Gedung Ki Bagus Hadikusuma (E4) Lantai 2 Pojok Barat, Universitas Muhammadiyah Yogyakarta,
Jalan Lingkar Selatan, Tamantirto, Kasihan, Bantul, Daerah Istimewa Yogyakarta, Indonesia
Website: - E-mail:
Phone: +62 274 387 656 (ext: 334)

Journal of Accounting and Investment is licensed under Creative Commons Attribution 4.0 International License.