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

Abstract

This research aims to determine the effect of Corporate Social Responsibility (CSR) on firm
value in manufacturing companies listed on the Indonesia Stock Exchange. The Corporate Social
Responsibility (CSR) variable is measured by corporate social responsibility disclosure (CSDI)
based on the GRI G4 index which consists of 91 disclosure items consisting of six themes, namely,
economy, environment, labor, human rights, society and products. Firm value is proxied using price
book to value (PBV) and profitability is proxied by Return on Assets (ROA). The sampling
technique used in this study was purposive sampling, where the sample was randomly selected
according to predetermined criteria. The samples examined in this study are manufacturing
companies listed on the Indonesia Stock Exchange with the 2017-2019 research period. There were
28 sample companies with a 3-year study period so that 84 observations were obtained. The
analytical method used is Moderated Regression Analysis (MRA) to test the effect of moderating
variables. The results of this study indicate that the influence of Corporate Social Responsibility
(CSR) has no effect on firm value, profitability affects company value and profitability as a
moderating variable cannot moderate the effect of Corporate Social Responsibility (CSR) on firm
value.