PENGARUH GCG DAN KINERJA LINGKUNGAN TERHADAP NILAI PERUSAHAAN DENGAN PENGUNGKAPAN CSR SEBAGAI VARIABEL INTERVENING

Abstract

This research aimed to examine the effect of good corporate governance and environment performance on the firm value with corporate social responsibility as the intervening variable. In this research the good corporate governance was measured by GCG score; the environment performance was measured by PROPER; corporate social responsibility was measured by score with of based of GRI G-4; and firm value was measured by Tobin’s Q. Population of this research used manufacturing company listed on IDX from 2013 until 2017 periods. The sample collection technique used purposive sampling method, during 5 years. Therefore, this research obtained 205 companies as sample. The result of multiple regression showed that the GCG gave positive effect on the disclosure of corporate social responsibility; the environtment performance gave positive effect on the disclosure of corporate social responsibility; the GCG gave positive effect on the firm value; the environtment performance gave positive effect on the firm value; the disclosure of corporate social responsibility gave positive effect on the firm value; the GCG did not have any effect on the firm value through the disclosure of corporate social responsibility; and the environtment performance gave effect on the firm value through disclosure of corporate social responsibility.
Keyword: good corporate governance, environment performance, corporate social responsibility, firm value