PENGARUH CORPORATE SOCIAL RESPONSIBILITY TERHADAP NILAI PERUSAHAAN DENGAN PROFITABILITAS SEBAGAI VARIABEL PEMODERASI

Abstract

This research aimed to examine Corporate Social Responsibility (CSR) on firm value with profitability as measured by Return On Assets (ROA) and Return On Equity (ROE) as moderating variables. The population was Property and Real Estate manufacturing companies which were listed on Indonesia Stock Estate (IDX) which can be accessed via a web page (www.idx.co.id). While, the research was quantitative. Moreover, the data were secondary which taken from IDX. Furthermore, the data collection technique used purposive sampling, in which the sample was based on criteria given. In line with, there were 31 companies as the sample within observation during 2016-2018. In addition, the data analysis technique used multiple linear regression. The research result concluded as follow: (a) Corporate Social Responsibility had positive effect on firm value. This meant, the higher the CSR, the higher the firm value would be, (b) profitability (Return On Asset) intervened CSR on firm value. It meant, by having higher profitability, Corporate Social Responsibility affected firm value, (c) on the other hand, profitability (Return On Equity) could not intervene CSR on firm value. In other words, by having higher profitability, Corporate Social Responsibility decreased firm value.
Keywords: return on asset, return on equity, corporate social responsibility, firm value