Determinan CSR dan Dampaknya Terhadap Nilai Perusahaan

Abstract

This study aims to analyze the effect of Good Corporate Governance, Leverage and Company Size on Corporate Social Responsibility and its impact on Corporate Value. The data in this study were obtained through the website www.idx.co.id and web.idx.id, to obtain the annual financial statements of companies that have gone public in Indonesia. The purposive sampling method is used in determining sample selection. As many as 26 of the 45 Mining Sector companies listed on the Indonesia Stock Exchange with 5 years of observations, starting from 2013 to 2017, obtained 130 research samples. The statistical method used to test the hypothesis is Partial Least Square. The results of this study found that Good Corporate Governance has no significant effect on Corporate Social Responsibility, Leverage has a significant negative effect on Corporate Social Responsibility, Company Size has a significant positive effect on Corporate Social Responsibility, Good Corporate Governance has a significant positive effect on Corporate Value, Leverage does not significantly influence Company Value, Company Size has no significant negative effect on Corporate Values ??and Corporate Social Responsibility has a significant negative effect on Corporate Values, and Corporate Social Responsibility Able to mediate the influence of Good Corporate Governance, Leverage and Company Size on Firm Value.

The Effect of Corporate Social Responsibility and Company Size on Company Value

“…But before investing their money in a company, investors pay more attention to other aspects such as the company's performance as shown in the books regarding the company's financial data, the company's good reputation, and dividend policy (Suwardika & Mustanda, 2017). Research results that support this research were carried out by (Yuliandara, Amrulloh, Indrabudiman, & Riyadi, 2019) which shows company size does not affect company value. And research conducted by Febriana Wibawati Sholekah and Lintang Venusita (2014) states that company size has no effect on firm value.…”

“…The company requires large funds in CSR (Corporate Social Responsibility) activities. "Shareholders will assume that the profits earned by the company will be used for Corporate Social Responsibility (CSR) activities, and the company cannot provide maximum profits to shareholders, so that shareholders will give a negative assessment, which lowers share prices so that the company's value decreases" (Yuliandara, Amrulloh, Indrabudiman, & Riyadi, 2019). The results of this research are supported by research (Stacia & Juniarti, 2015) which shows that Corporate Social Responsibility (CSR) does not have a significant effect on company value, and Worokinasih and Zaini (2020) also finds that Corporate Social Responsibility (CSR) does not have a significant effect on company value.…”

“…For example, the study carried out Ginting (2019) found a significant effect of CSR on company value in manufacturing companies listed on the Indonesia Stock Exchange (IDX). Yuliandara et al (2019) said that CSR has a negative and significant impact on company value. On the other hand, research (Stacia & Juniarti, 2015) states that CSR is not significant for company value and the company size factor has a negative and significant impact on company value in the mining sector.…”