Pengaruh Corporate Social Responsibility (CSR) Terhadap Nilai Perusahaan dengan Eksternalitas Sosial sebagai Variabel Moderasi
DOI:
https://doi.org/10.70900/jea.v1i1.8Keywords:
Corporate Social Responsibility, Firm Value, Social ExternalityAbstract
This study aims to determine the effect of Corporate Social Responsibility on firm value and to determine social externalities in moderating the effect of Corporate Social Responsibility disclosure on the value of manufacturing companies on the Indonesia Stock Exchange. The sample used in this study is manufacturing companies listed on the Indonesia Stock Exchange (IDX) in 2016 – 2020. The analytical method used in this research is the panel data analysis method.
The results of this study indicate that CSR has a negative effect on firm value, the variable of corporate social responsibility has a significant negative effect on firm value. This is because the CSR disclosures in each company have differences and do not have standard standards in preparation, so that there are many manufacturing companies listed on the BEI that have low or no detailed CSR disclosures. While the social externality variable cannot moderate the influence of Corporate Social Responsibility on Company Value. This is because the items disclosed in PROPER are different from those in CSR disclosures. PROPER only focuses on environmental management, but CSR also reveals community and employee development, community empowerment and consumer safety which are not included in the disclosure of environmental performance.
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