PENGARUH CORPORATE SOCIAL RESPONSIBILITY TERHADAP NILAI PERUSAHAAN DENGAN PROFITABILITAS SEBAGAI VARIABEL MODERATING

Abstract

This research is meant to test the influence of corporate social responsibility (CSR) to the firm value and the influence of corporate social responsibility (CSR) to the firm value with profitability as the moderated variable. The variable of corporate social responsibility (CSR) has been measured by using corporate social responsibility index (CSRDI) based on GRI standards (Global Reporting Initiative) which consist of six disclosure focuses: economic, environment, employees, human rights, society, and product. The firm value of this research is proxy by using price book to value (PBV), meanwhile profitability is proxy by using return on equity (ROE). The sample of this research is the manufacturing companies which are listed in Indonesia Stock Exchange (IDX) during the years of 2011-2014 and these companies have been selected by using purposive sampling. There are 38 sample companies with the four periods, so that 152 observations have been obtained. The analysis method has been done by using multiple linear regressions and absolute difference value test in order to test the influence of moderating variable. The result of this research shows that corporate social responsibility (CSR) does not have any influence to the firm value and profitability as the moderating variable is unable to moderate the influence of corporate social responsibility (CSR) to the firm value.
Keywords: Corporate social responsibility (CSR), Firm Value (PBV), Profitability (ROE)