The Effect of Corporate Social Responsibility on the Firm Value with Risk Management as a Moderating Variable

Wirawan, Anan Werdie; Falah, Laila Jahidatul; Kusumadewi, Lydia; Adhariani, Desi; Djakman, Chaerul D.

doi:10.1080/10599231.2020.1745051

Cited by 24 publications

(25 citation statements)

References 35 publications

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“…Teori stakeholder yang dikemukakan oleh Freeman menjelaskan bahwa perusahaan yang sukses, karena pemangku kepentingan puas terhadap kinerja perusahaan. Hasil penelitian Dewi & Badera (2021), Laili et al (2019), Yanto (2018) dan Wirawan et al (2020) menyatakan pengungkapan CSR berpengaruh pada nilai perusahaan. Pengukuran CSR menggunakan pedoman GRI-G4 terdiri dari 91 indikator, nilai 1 diberikan untuk bagian yang diungkapkan, nilai 0 diberikan jika bagian tidak diungkapkan, kemudian rumus dibentuk sebagai berikut:…”

Section: Corporate Social Responsibility (Csr)unclassified

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Firm Size Memoderasi Corporate Social Responsibility Dan Good Corporate Governance Pada Nilai Perusahaan

Sastrawan¹,

Perdhana²,

Hendreo³

2023

jrakt

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The establishment of a company can advance the economy and improve people's welfare. However, companies are also required to be able to increase the welfare of shareholders by increasing the value of the company. There are several factors that influence company value, namely corporate social responsibility (CSR) and good corporate governance (GCG). This study aims to see how much influence CSR and GCG have on company value, while firm size is a moderating variable for companies registered at CGPI for the 2017-2021 implementation period. This study uses the method of clarity (explanation) with secondary data (financial reports and CGPI data). Hypothesis testing uses the WarpPLS application with the Structural Equation Modeling (SEM) approach. The results of the study show that CSR carried out by companies does not have a significant impact on firm value even though it is reinforced by firm size, while GCG influences firm value by strengthening firm size. This research is useful as a research reference in the field of accounting, as well as providing information in making investment decisions in a company.Key words: Corporate Social Responsibility, Good Corporate Governance, Company Size, Company

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Section: Corporate Social Responsibility (Csr)unclassified

“…Perusahaan yang menerapkan tanggung jawab sosial terhadap lingkungan tidak terlalu berdampak pada nilai perusahaan. Penelitian ini tidak sejalan pada penelitian Dewi & Badera (2021), Laili et al (2019), Yanto, (2018, dan Wirawan et al (2020).…”

Section: Corporate Social Responsibility Berpengaruh Positif Pada Nil...unclassified

Firm Size Memoderasi Corporate Social Responsibility Dan Good Corporate Governance Pada Nilai Perusahaan

Sastrawan¹,

Perdhana²,

Hendreo³

2023

jrakt

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“…Naseem, Shahzad, Asim, Rehman, and Nawaz (2020)). Further, Wirawan, Falah, Kusumadewi, Adhariani, and Djakman (2020) indicate that firms are willing to disclosure ES as it portrays good concern, commitment and supports towards social and environmental needs of the stakeholders.…”

Section: The Underpinning Theory and Develop-ment Of Study Hypothesesmentioning

confidence: 99%

Effects of Environmental and Social Disclosures Practice on Firm Risks: Evidence From a Developing Nation

Yusoff¹,

Aziz²,

Ismail³

2023

R. Econ. and Finan.

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The purpose of this study is to explore the effects of environmental and social disclosures (ESD) on firm risk in Malaysia. The study utilises stakeholder theory because it explains the responsibilities of the firms towards the wide range of stakeholders that will then contribute to the economic performance of the firms and it has been widely used by researchers in corporate social responsibility studies. The data were collected through content analysis. The extent of ESD was obtained from the annual reports and sustainability reports for the year 2017, while the firm risk was calculated based on the share prices obtained from Bursa Station. The finding indicates the level of ESD is still low among the top 100 listed companies in Malaysia and the result from the hypotheses testing found the relationships between ESD with specific firm risks (total risk, systematic risk, unsystematic risk) are insignificant. The discovery infers investors have minimal demands and reliance on ES information of the country's public listed companies in making financial-related decisions. Apart from investors, other company's stakeholder groups also may not value the importance of ES-related activities including ESD. Nevertheless, this study provides an insight for (i) the regulators namely the government and Bursa Malaysia that continuous initiatives should be performed on ESD guidance and (ii) the companies on the need for new strategies towards a successful implementation of ESD.

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“…More and more attention has been paid to the influence of CSR on firm value [16,17]. There are two alternative predictions about the relationship between CSR and firm value in existing studies.…”

Section: Corporate Social Responsibility and Firm Valuementioning

confidence: 99%

Corporate Social Responsibility and Firm Value: The Moderating Effects of Financial Flexibility and R&D Investment

Guo

Hou

2020

Sustainability

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Despite the significance of corporate social responsibility (CSR), there remains an extensive debate regarding its implications for firm value. This study examines the moderating effects of financial flexibility and R&D investment on CSR and firm value. Using multiple archival data of 2311 companies from 2010 to 2016, our study finds that CSR is a “double-edged sword” for firm value; specifically, CSR significantly increases systematic risk but reduces firms’ idiosyncratic risk as well as the Tobin’s q. Besides, the results indicate that financial flexibility and R&D investment significantly reduce the negative correlation between CSR and Tobin’s q, the difference between the two being that financial flexibility can reduce the positive relationship between CSR and system risk, while R&D spending can reduce the negative relationship between CSR and idiosyncratic risk. By adding new aspects to the discussion about how CSR affects firm value, the results speak to both theorists and practitioners.

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The Effect of Corporate Social Responsibility on the Firm Value with Risk Management as a Moderating Variable

Cited by 24 publications

References 35 publications

Firm Size Memoderasi Corporate Social Responsibility Dan Good Corporate Governance Pada Nilai Perusahaan

Firm Size Memoderasi Corporate Social Responsibility Dan Good Corporate Governance Pada Nilai Perusahaan

Effects of Environmental and Social Disclosures Practice on Firm Risks: Evidence From a Developing Nation

Corporate Social Responsibility and Firm Value: The Moderating Effects of Financial Flexibility and R&D Investment

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