Effect of Corporate Social Responsibility and Good Corporate Governance on the Value of Company with Profitability as Moderating Variables

Abstract

This research aims to examine the influence of disclosure of corporate social responsibility and good corporate governance on the firm value to profitability as a moderating variable of manufactured companies listed on the Indonesia Stock Exchange for the period 2010-2012. This type of research is an association research using purposive sampling technique. The population in this study are the manufactured companies listed on Indonesia Stock Exchange during the years 2010-2012, as many as 91 companies as selected samples, thus, the total of observations in this study is composed of 273 companies that are analyzed using multiple linear regression with moderate regression analysis. The data used are from financial statements and sustainable report. Hypothesis testing using t test and F test. Research results showed that disclosure of corporate social responsibility and good corporate governance that is moderated affects firm value.

Financial Performance, Intellectual Capital Disclosure and Firm Value: The Winning Edge

“…High financial performance is a positive signal that a company will have better prospects in the future from the perspective of signaling theory. The study findings are in line with those of (Sucuahi & Carbarihan, 2016;Gharaibeh & Qader, 2017;Yanto, 2018). They attribute high firm value to better financial performance.…”

Financial Performance, Digital Disclosure, and Firm Value: Do Purely Local Companies Differ From Cross-Listed Firms? Evidence from East African Countries 2012–2022

“…Hence a high financial performance is a positive signal that the company will have better prospects in the future. Similar, findings were established by Sucuahi and Carbarihan (2016) and Yanto (2018) established a positive and significant association between financial performance and firm value. Further, the findings also established that digital disclosure and firm value were positively correlated (r = 0.595; ρ < 0.05).…”

Pengungkapan CSR pada Nilai Perusahaan dengan Profitabilitas dan Ukuran Perusahaan sebagai Variabel Moderasi

“…Riset-riset mengenai pengungkapan CSR pada nilai perusahaan telah dilakukan oleh para peneliti. Namun, hasil riset-riset tersebut masih inkonsisten, Armika & Suryanawa (2018), Damayanthi (2019), Darmastika & Ratnadi (2019), Laskar (2018), Laskar & Maji (2018) dan Yanto (2018) menemukan semakin tinggi pengungkapan CSR, menyebabkan semakin tinggi nilai perusahaan. Adapun Sabatini & Sudana (2019), Vira & Wirakusuma (2019) menemukan semakin tinggi pengungkapan CSR, menyebabkan semakin rendah nilai perusahaan serta adapun Karundeng et al (2017), Nuryana & Bhebhe (2019), Puspaningrum (2017), Putri & Wirakusuma (2020), Tandry et al (2014) dan Wedayanti & Wirajaya (2018) menemukan pengungkapan CSR tidak berpengaruh pada nilai perusahaan.…”

“…Penelitian ini memiliki kebaharuan dengan objek penelitian pada daftar perusahaan SRI-KEHATI yaitu perusahaan-perusahaan teratas yang mengutamakan aspek keberlanjutan dan tata kelola serta keamanan berinvestasi pada aspek bisnisnya. Penelitian ini berbeda pada penelitian sebelumnya yang dilakukan di sektor industri seperti Armika & Suryanawa (2018) pada industri dasar dan kimia, Damayanthi (2019), Nuryana & Bhebhe (2019) dan Yanto (2018) pada industri manufaktur, Darmastika & Ratnadi (2019), Karundeng et al (2017), Puspaningrum (2017), Putri & Wirakusuma (2020), Vira & Wirakusuma (2019) dan Wedayanti & Wirajaya (2018) pada industri pertambangan, serta Sabatini & Sudana (2019) pada indeks bisnis 27. Pemilihan indeks SRI-KEHATI diharapkan dapat memberikan gambaran mengenai praktik keberlanjutan untuk menciptakan nilai perusahaan.…”