PENGARUH PENGUNGKAPAN CSR TERHADAP RETURN SAHAM DENGAN PROFITABILITAS SEBAGAI VARIABEL MODERATING

Abstract

The purpose of this research is to test the influence of corporate social responsibility to the stock return and the influence of corporate social responsibility to the stock return and profitability as the moderating variables. Corporate social responsibility variable is measure based on G4 GRI index which consists of 3 focuses i.e. economy, environment and social. Profitability of this research which is proxy by return on equity and stock return is calculated by the capital gain (loss). The research sample of this research is all manufacturing companies which are listed in Indonesia Stock Exchange during the years of 2012-2014 and these companies have been selected by using purposive sampling. There are 28 companies in the 3 years periods so that 84 samples have been selected. This research is conducted by using data which has been retrieved from Indonesia Stock Exchange Corner STIESIA and website of Indonesia Stock Exchange. The analysis method has been done by performing multiple regressions model. The result of this research shows that corporate social responsibility does not have any influence to the stock return and profitability as the moderating variable is not able to moderate the influence of corporate social responsibility to the stock return.
Keywords: CSR, Return On Equity, Stock Return.