PENGARUH STRUKTUR MODAL DAN ESOP TERHADAP KINERJA KEUANGAN DENGAN CSR SEBAGAI PEMODERASI

Abstract

This research aimed to determine the effect of capital structure and employee stock option program on financial performance with corporate social responsibility as moderate. This research used quantitatively. The sample of this research used go publik listed on Indonesia stock exchange (IDX), which implemented the employee stock option program in 2014-2019 with purposive sampling and based on the researcher’s certain criteri. Based on the sample research method, it obtained 50 go public companies. The research data were obtained from annual financial reports. Furthermore, the analysis method used multiple linier regressions analysis and moderate regressions analysis with statistical test SPSS 21 version. The research showed that the variables of employee stock option program, capital structure and corporate social responsibility positively affected the financial performance. Meanwhile, corporate social responsibility was able to moderate the correlation between capital structure on financial performance. Moreover, corporate social responsibility was incapable of moderating the correlation between employee stock option programs on financial performance.
Keywords: employee stock option program, capital structure, corporate social responsibility, financial performance