PENGARUH CSR DAN SIZE TERHADAP NILAI PERUSAHAAN DENGAN KINERJA KEUANGAN SEBAGAI VARIABEL INTERVENING

Abstract

This research aimed to examine the effect of Corporate Social Responsibility and Size on the firm value of Food and Beverage companies on IDX 2018-2021, with financial performance as the intervening variable. The research was quantitative. The result concluded that CSR did not affect firm value. It meant the implementation of CSR did not affect the amount of firm value. However, Size had a negative impact on firm value. This meant a bigger asset would cause less dividend share. In contrast, the financial performance had a positive effect on firm value. It meant companies’ efforts in gaining some profits could be seen from their financial performance. Meanwhile, CSR had a negative effect on financial performance. The amount of CSR funds would lower companies’ financial performance. Likewise, Size had a negative impact on financial performance. Higher assets could not maximize sales, so that lowered profit. Furthermore, financial performance could not mediate the effect of CSR on firm value, since companies’ financial performance was not affected by CSR. On the other hand, financial performance could mediate the effect of SIZE on firm value. In other words, companies’ size would increase their financial performance.