PENGARUH CSR DAN GCG TERHADAP NILAI PERUSAHAAN: PROFITABILITAS SEBAGAI VARIABEL INTERVENING

Abstract

The consideration in decision making, particularly in the management of the company, stakeholders, investorcreditor, distributor, customer, regulator (BEI) and community about the relevance of corporate socialresponsibility (CSR) and good corporate governance (GCG) in the annual report of the company to the firmvalue with profitability as the intervening variable. This research is meant to study and to examine further about
the CSR and GCG to the firm value. In this research, the researcher tries to examine by using the 2010-201data with the profitability as the intervening variable.The population of this research is Non-financial Stateowned Enterprises which have gone public and included in the rating Corporate Governance Perception Index(CGPI) in the year 2010 – 2014. The sample collection has been done by using purposive sampling with thcertain criteria so that 20 companies which meet criteria have been obtained as samples. The data analysis has
been done by using multiple linear regressions to identify the independent variable which influence thdependent variable and path analysis to detect the indirect influence through profitability (ROE).The result of Ftest shows that all independent variables make a significant influence to the firm value through profitability(ROE) so it is feasible to be used in this research. The result of the examination either direct or indirect shows
that the variables i.e. corporate social responsibility (CSR), good corporate governance (GCG) and profitabilityhave significant influence to the firm value.

Keywords: Profitability (ROE), Good Corporate Governance (CGPI), Corporate Social Responsibility (CSR).