PENGARUH PENGUNGKAPAN CORPORATE SOCIAL RESPONSIBILITY (CSR) TERHADAP NILAI PERUSAHAAN DENGAN PROFITABILITAS SEBAGAI VARIABEL MODERATING

Abstract

This research aimed to examine the effect of Corporate Social Responsibility (CSR) disclosure on the firm value with profitability as the moderated variable. While, its disclosure was measured by Corporate Social Responsibility Disclosure Index (CSRDI) which based on the standard of Global Reporting Initiative (GRI) G-4 with 91 indicator items. Moreover, the firm value was measured by Tobin’s Q ratio and profitability was measured by Return On Asset (ROA). The research was quantitative. Moreover, the population was manufacturing companies which were listed on Indonesia Stock Exchange (IDX) 2014-2017. Furthermore, the data collection technique used purposive sampling in which the sample was based on criteria given. In line with, there were 41 samples from 151 manufacturing companies. In addition, the data analysis technique used descriptive statistical analysis, regressions analysis, and classical assumption test with SPSS 24. The research result concluded the Corporate Social Responsibility (CSR) disclosure had negative but significant effect on the firm value. On the hand, the profitability as the moderating variable had positive effect and could strengthen the effect of Corporate Social Responsibility (CSR) disclosure on the firm value.
Keywords: Corporate Social Responsibilty (CSR) disclosure, Firm Value, Profitability