Profitability relation, corporate social responsibility fund, and environmental performance with firm value (Study at companies listed in the sustainable and responsible investment index (SRI)–Kehati)

The paradigm of a company that was originally only oriented to profit has shifted to the tripple bottom line, namely not only concerned with economic interests, but also commitment to the environment (planet) and people (people). This study aims to determine the effect of profitability and funds on Corporate Social Responsibility on corporate value and to determine environmental performance as a moderating variable on the relationship of profitability and funds of Corporate Social Responsibility to the value of the company. The population in this study are companies included in the SRI-Kehati Index 2013-2016. The sample of research is 12 companies taken by purposive sampling technique. Data analysis method used is multiple linear regression analysis and Moderate Regression Analysis (MRA). The results showed that profitability has a positive and significant effect on firm value. Conversely, Corporate Social Responsibility funds have no effect and insignificant to the value of the company. While environmental performance is significantly able to moderate the relationship between profitability and Corporate Social Responsibility funds to company value.

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PENGARUH PROFITABILITAS TERHADAP NILAI PERUSAHAAN DENGAN PENGUNGKAPAN CORPORATE SOCIAL RESPONSIBILITY DAN GOOD CORPORATE GOVERNANCE SEBAGAI VARIABEL MODERATING

El Dinar ◽

10.18860/ed.v6i1.5454 ◽

2018 ◽

Vol 6 (1) ◽

pp. 64

Author(s):

Nur Mufidah Mufidah ◽

Puji Endah Purnamasari

Keyword(s):

Corporate Governance ◽

Regression Analysis ◽

Corporate Social Responsibility ◽

Social Responsibility ◽

Firm Value ◽

Linear Regression Analysis ◽

Good Corporate Governance ◽

Corporate Social ◽

Relationship Of ◽

The Relationship

Increasing the firm value is a key point for firm to attract investors. The firm value is very important because it becomes a benchmark of firm performance, the firm value in addition is influenced by profitability, investors also see the effect of the firm or form of firm Social Responsibility in the firm. The purpose of this study is to determine the effect of profitability toward firm value, firm Social Responsibility moderate the relationship of profitability toward firm value and Good Corporate Governance moderate the relationship of profitability toward the firm value. The population in this study is a state-owned firm listed on the BEI in 2012-2016. The technique of sampling uses purposive sampling and based on criteria that have been done then the number of samples are obtained as many as 12 samples of state-owned enterprises. The experiment hypothesis of the research used multiple linear regression analysis techniques and Moderating Regression Analysis (MRA) with SPSS application. The results of this study indicate that profitability variables have a positive and significant effect on firm value, the disclosure of Corporate Social Responsibility does not moderate the relationship of return on assets to firm value, firm Social Responsibility strengthens the relationship of return on equity to firm value and Good firm Governance does not moderate profitability relation to firm value.

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PENGARUH KINERJA KEUNGAN TERHADAP NILAI PERUSAHAAN DENGAN PENGUNGKAPAN CORPORATE SOCIAL RESPONSIBILITY SEBAGAI VARIABEL PEMODERASI

Jurnal Akuntansi Trisakti ◽

10.25105/jat.v4i2.4838 ◽

2019 ◽

Vol 4 (2) ◽

pp. 245 ◽

Cited By ~ 1

Author(s):

Abdul Gaffar Rafid ◽

Hotman Tohir Pohan ◽

Ice Nasyrah Noor

Keyword(s):

Regression Analysis ◽

Corporate Social Responsibility ◽

Linear Regression ◽

Social Responsibility ◽

Financial Performance ◽

Firm Value ◽

Linear Regression Analysis ◽

Corporate Social ◽

The Cost ◽

The Relationship

The Study examined the effect of the allocation of the cost of social responsibility as a proxy of the disclosure of Corporate Social Responsibility) on the relationship between ROA as a proxy of the financial performance of the company’s value and the impact of the cost allocation of social responsibility as a proxy of the financial performance of the company’s value. The purpose of research is to find empirical evidence of (a) the effect of financial performance ROA on firm value, (b) the effect of the financial performance of CR on firm value (c) the effect of CSR on the relationship between ROA enterprise value (d) the effect of CSR on the relationship between CR with the value of the company.The sample in this research is manufacturing companies listed in Indonesia Stock Exchange (IDX) in the range of 2013-2015. Samples were as many 33 companies with 95 observation. Analysis of data using multiple linear regression analysis.Result of research by linear regression analysis showed that the ROA have negative significant effect on firm value. Than the results of linear regression analysis showed that the CR also has a negative significant effect on firm value. Furtermore, linear regression analysis reveals that the disclosure of CSR is not able to oderate the relationship between ROA on firm value. But unlike the CR, research results show that the disclosure of CSR is able to moderate the relationship between CR on firm value. Simulataneous the independent variable affects the company’s value.

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Pengungkapan Corporate Social Responsibility, Kinerja Lingkungan dan Nilai Perusahaan

E-Jurnal Akuntansi ◽

10.24843/eja.2021.v31.i03.p08 ◽

2021 ◽

Vol 31 (3) ◽

pp. 615

Author(s):

Ida Ayu Yuni Pramitha ◽

I Putu Sudana

Keyword(s):

Corporate Social Responsibility ◽

Social Responsibility ◽

Environmental Performance ◽

Firm Value ◽

Performance Indicator ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Multiple Linear Regression Analysis ◽

Corporate Social Responsibility Disclosure ◽

Corporate Social

Firm value is an important performance indicator for publicly-listed companies. The purpose of this study is to empirically examine the effect of corporate social responsibility disclosure and environmental performance on firm value. Companies in consumer goods listed in Indonesia Stock Exchange are chosen as the focus of the study. Additionally, companies should participate in the Company Performance Assessment Program ranking. Sample is determined by a purposive sampling and data are analyzed with Multiple Linear Regression Analysis. This study concludes that corporate social responsibility disclosure has positive effect on firm value, implying conformity with agency theory, legitimacy theory, and stakeholder theory. Environmental performance is found has no effect on firm value. Practically, this study recommends that intensity of disclosure should be considered as an important part of management strategy in increasing firm value. Keywords: Corporate Social Responsibility Disclosure; Environmental Performance; Firm Value.

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Peran Good Corporate Governance dalam Memoderasi Pengaruh Profitabilitas, Leverage, dan Corporate Social Responsibility (CSR) terhadap Nilai Perusahaan

Jurnal Akuntansi dan Ekonomika ◽

10.37859/jae.v10i1.1992 ◽

2020 ◽

Vol 10 (1) ◽

pp. 139-148

Author(s):

Qonita Aufa Dina ◽

Mentari Dwi Aristi ◽

Siti Rodiah

Keyword(s):

Corporate Governance ◽

Regression Analysis ◽

Corporate Social Responsibility ◽

Linear Regression ◽

Social Responsibility ◽

Firm Value ◽

Linear Regression Analysis ◽

Multiple Linear Regression Analysis ◽

Good Corporate Governance ◽

Corporate Social

This research aims to find out the role of good corporate governance in moderating the effects of profitability, leverage, and corporate social responsibility on firm value. The population in this study amounted to 58 companies. Sample selection setting by purposive sampling method and the specific criteria are as many as 9 companies with 45 total observations. Analytical technigues used multiple linear regression analysis for hypothesis 1-3, and multiple linear regression analysis with Moderated Regression Analysis (MRA) test for hypothesis 4-6 by using SPSS 20. The results show that profitability has a positive effect on firm value, meanwhile leverage and corporate social responsibility has no effect on firm value. Good corporate governance does not strengthen or weaken the effect of profitability, leverage, and corporate social responsibility on firm value partially.

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Analisis Pengaruh Corporate Social Responsibility Terhadap Nilai Perusahaan dengan Profitabilitas, Kepemilikan Manajemen dan Ukuran Perusahaan sebagai Variabel Moderasi (Studi Empiris pada Perusahaan Pertambangan yang Terdaftar di Bursa Efek Jakarta tahun 2012-2016)

JURNAL RISET AKUNTANSI DAN AUDITING "GOODWILL" ◽

10.35800/jjs.v8i2.16901 ◽

2017 ◽

Vol 8 (2) ◽

Author(s):

Frandy Karundeng ◽

Grace B Nangoi ◽

Herman Karamoy

Keyword(s):

Corporate Social Responsibility ◽

Social Responsibility ◽

Firm Size ◽

Firm Value ◽

Triple Bottom Line ◽

Bottom Line ◽

Tobin's Q ◽

Management Ownership ◽

Corporate Social ◽

The Relationship

Abstract. The corporate’s responsibility currently has evolved into a triple bottom line principal which directs the corporates for are not only focused on its profit achievement (profit), but also to secure the environmental sustainability (planet) and contribute in the community development (people). In accordance to the Indonesia’s Act, any company,which activities are in exploiting the natural resources (SDA), is obliged to implement the social and environmental responsibility. It is usually called as the Corporate Social Responsibility (CSR). The mining corporates are,thus, must implement the CSR. The aims of this study are to verify (1) the influence of CSR to increase the firm value, and (2) the influence of profitability, management ownership, and firm size (as the factors to moderate the relationship amongst CSR) to the firm value. CSR disclosure is measured by GRI (G4) index. The firm value variable is then calculated by using Tobin’s Q ratio. Profitability variable, management ownership variable, and company size variable are each measured by ROE, percentage of management ownership, and natural logarithm of total asset.The result of this study concludes that CSR does not affect firm value. Management ownership and firm sizedo not influence either firm value. On the other hand, the profitability has a positive effect on the firm value. Furthermore, profitability as a moderating variable can strengthen the relationship between CSR and firm value. However, this study draws conclusion that management ownership and firm size do not strengthen the relationship among CSR and firm value.Keywords: CSR, Profitability, Management Ownership, Firm Size, and Firm Value.Abstrak. Saat ini tanggung jawab perusahaan sudah berkembang menjadi prinsip triple bottom line, yang mengarahkan perusahaan untuk tidak hanya fokus pada pencapaian profit saja, tetapi juga mampu menjaga kelestarian lingkungan (planet) dan memberikan kontribusi dalam pengembangan masyarakat (people).Sesuai dengan amanat UU, setiap perseroan terbatas yang kegiatannya memanfaatkan SDA wajib untuk melaksanakan Tanggung Jawab Sosial dan Lingkungan (TJSL).Oleh karena itu, perusahaan pertambangan merupakan perusahaan yang tergolong wajib melaksanakan TJSL atau CSR.Melalui penelitian ini, ingin diketahui pengaruh CSR dalam meningkatkan nilai perusahaan pertambangan yang aktivitasnya memanfaatkan SDA, serta pengaruh profitabilitas, kepemilikan manajemen, dan ukuran perusahaan sebagai faktor yang memoderasi hubungan antara CSR dan nilai perusahaan. Pengungkapan CSR diukur dengan menggunakan indikator yang dikeluarkan oleh lembaga internasional General Reporting Initiative (GRI) yaitu indeks G4. Kemudian variabel nilai perusahaan dihitung dengan menggunakan rasio Tobin’s Q, serta variabel profitabilitas, kepemilikan manajemen, dan ukuran perusahaan masing-masing diukur dengan ROE, persentase kepemilikan manajemen, dan logaritma natural dari total aset perusahaan. Hasil penelitian ini menyimpulkan bahwa CSR tidak berpengaruh terhadap nilai perusahaan. Hasil yang sama juga terdapat pada pengaruh kepemilikan manajemen dan ukuran perusahaan secara parsial terhadap nilai perusahaan. Sedangkan profitabilitas berpengaruh positif terhadap nilai perusahaan.Kemudian, profitabilitas sebagai variabel moderasi mampu memperkuat hubungan antara CSR dan nilai perusahaan.Akan tetapi, dalam penelitian ini menyimpulkan bahwa kepemilikan manajemen dan ukuran perusahaan tidak memperkuat hubungan antara CSR dan nilai perusahaan.Kata kunci : CSR, Profitabilitas, Kepemilikan Manajemen, Ukuran Perusahaan, dan Nilai Perusahaan.

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PENGARUH CORPORATE SOCIAL RESPONSIBILITY DAN GOOD CORPORATE GOVERNANCE TERHADAP NILAI PERUSAHAAN DENGAN UKURAN PERUSAHAAN SEBAGAI VARIABEL PEMODERASI

Jurnal REKSA Rekayasa Keuangan Syariah dan Audit ◽

10.12928/j.reksa.v2i1.20 ◽

2018 ◽

Vol 2 (1) ◽

pp. 84

Author(s):

Dewi Winarti ◽

Moch Imron

Keyword(s):

Corporate Governance ◽

Regression Analysis ◽

Corporate Social Responsibility ◽

Social Responsibility ◽

Social Environment ◽

Firm Value ◽

Linear Regression Analysis ◽

Good Corporate Governance ◽

The Social ◽

Corporate Social

Corporate social responsibility is mechanism for a company voluntarily integrated concern for the environment and society. Disclosure of corporate social responsibility has a tendency to influence influential to enhance shareholder value. With the increased value of the company, then investors will be attracted to invest on companies that care a bout the social environment. The growing public awareness of the social environment requires employers not ignore the interests of the social environment around the company. Good corporate governance is a major problem in the management of the administration of the company, the management company that leads the company to more accountable and transparent in every policy of and the result in gactions. Study aims to determine the effect of corporate social responsibility and corporate governance on firm valueto firm size as a moderating variable. There search sample in this study is a manufacturing company listed on the Stock Exchange in the year 2009 – 2012 by using purposive sampling. There are 56 companies that meet the criteria of the study sample. The analysis techniques in this study using multiple linear regression analysis and linear regression analysis testing the interaction (moderated regression analysis / MRA). The results of this study indicate that the disclosure and corporate governance and corporate social responsibility have no effect on firm value. While the size of the company is not able to moderate the influence of corporate social responsibilty disclosure and corporate governance on firm value. So the conclusion all the hypothesis in this study was rejected

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Association between Corporate Social Responsibility Disclosures and Firm Value – Empirical Evidence from Vietnam

International Journal of Accounting and Financial Reporting ◽

10.5296/ijafr.v5i1.7394 ◽

2015 ◽

Vol 1 (1) ◽

pp. 212 ◽

Cited By ~ 5

Author(s):

Bich Thi Ngoc Nguyen ◽

Hai Thi Thanh Tran ◽

Oanh Hoang Le ◽

Phuoc Thi Nguyen ◽

Thien Hiep Trinh ◽

...

Keyword(s):

Corporate Social Responsibility ◽

Social Responsibility ◽

Firm Value ◽

Information Provision ◽

Annual Reports ◽

Positive Sign ◽

Stock Exchanges ◽

Social Responsibilities ◽

Corporate Social ◽

The Relationship

A number of studies in Corporate Social Responsibility (CSR) have suggested that corporates accountable for social responsibilities had better financial performance. However, this relationship had remained undiscovered in Vietnam. The purpose of this research was to examine a link between Corporate Social Responsibility disclosures and firm value in Vietnam. A sample of 50 companies listed on stock exchanges in Hochiminh City (HOSE) and Hanoi (HNX) were investigated from 2010 to 2013. Content of annual reports were analyzed to measure corporate social responsibilities, and Tobin’s Q ratio was proxied for firm value. Regression analysis tests indicated that social responsibility disclosures are associated with following year’s firm value. Specifically, the relationship between environmental information provision and following year’s firm value was positive, while that between employee disclosures and firm value was negative. The results show a positive sign for Vietnamese firms that take on environmental responsibilities.

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Tanggung Jawab Sosial Dan Risiko Sistematis: Efek Moderasi Dari Fleksibilitas Keuangan Dan Investasi Penelitian Dan Pengembangan

Jurnal Akademi Akuntansi ◽

10.22219/jaa.v4i2.18188 ◽

2021 ◽

Vol 4 (2) ◽

pp. 162-185

Author(s):

Anita Anita ◽

Lisa Lim

Keyword(s):

Regression Analysis ◽

Corporate Social Responsibility ◽

Social Responsibility ◽

Research And Development ◽

Stock Prices ◽

Systematic Risk ◽

Financial Flexibility ◽

Corporate Social ◽

The Relationship ◽

D Investment

The study is conducted with the aim of examining the effect of corporate social responsibility on systematic risk in companies listed on the IDX for the period of 2016-2020. This study adds financial flexibility and research and development investment as moderators which are still remain unexplored in Indonesia. This research is expected to be able to make investors consider social responsibility as a factor in making investment decisions. The data taken are stock prices, annual reports and sustainability reports which are secondary data. Data collection using purposive sampling method with certain criteria so that the number of samples in this study amounted to 43 companies. In testing the hypothesis using panel data regression analysis techniques with eviews. The results of the regression analysis show that the existence of corporate social responsibility has a significant positive effect on systematic risk. The moderating variable of financial flexibility does not affect the relationship between CSR and systematic risk. Then the research and development investment variables weaken the relationship between CSR and systematic risk. Therefore, management is expected to pay attention to R&D investment in making CSR policies. This study explains that R&D investment is one of the important roles in company sustainability.

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Pengaruh Pengungkapan Corporate Social Responsibility (CSR) Terhadap Nilai Perusahaan Pada Perusahaan Industri Barang Konsumsi Yang Terdaftar di Bursa Efek Indonesia (BEI) Tahun 2016-2018

Jurnal Akuntansi Bisnis Eka Prasetya : Penelitian Ilmu Akuntansi ◽

10.47663/abep.v6i2.60 ◽

2020 ◽

Vol 6 (2) ◽

pp. 137-147

Author(s):

Annisa Fitri Gea ◽

Debbi Chyntia Ovami

Keyword(s):

Corporate Social Responsibility ◽

Social Responsibility ◽

Consumer Goods ◽

Firm Value ◽

Positive Impact ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Sampling Technique ◽

Consumer Goods Industry ◽

Corporate Social

The company's goal is to implement CSR to have a positive impact on the environment and society as a sense of social responsibility to the environment around the company. Implementation of Corporate Social Responsibility (CSR) will also increase the value of the company. The value of a company will increase if the company pays attention to the economic, social and environmental or environmental dimensions that exist around the company. This study aims to determine the effect of Corporate Social Responsibility (CSR) disclosure on company value in consumer goods industry companies listed on the Indonesia Stock Exchange (BEI) in 2016-2018. The method used in this research is quantitative method. The population in this study were consumer goods industry companies listed on the Indonesia Stock Exchange (BEI) in 2016-2018 totaling 53 companies. The sampling technique uses a purposive sampling method with a sample of 15 companies. Analysis of the data used is simple linear regression analysis. The results of this study indicate that the disclosure of Corporate Social Responsibility (CSR) has a positive and significant effect on firm value with a coefficient of 2169,806 and a significance of 0,000

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PENGARUH PENGUNGKAPAN CORPORATE SOCIAL RESPONSIBILITY DAN KINERJA TERHADAP NILAI PERUSAHAAN DENGAN TIPE INDUSTRI SEBAGAI VARIABEL MODERASI

Jurnal Magister Akuntansi Trisakti ◽

10.25105/jmat.v5i2.5074 ◽

2019 ◽

Vol 5 (2) ◽

pp. 185

Author(s):

Henik Haris Astuti ◽

Roni Aron Oktavianus ◽

Yvonne Augustine

Keyword(s):

Regression Analysis ◽

Corporate Social Responsibility ◽

Social Responsibility ◽

Financial Performance ◽

Firm Value ◽

Stock Exchange ◽

Corporate Social Responsibility Disclosure ◽

Industry Type ◽

Corporate Social ◽

Sustainability Report

This study aims to examine and analyze the influence of sustainability report disclosure, financial performance, non-financial performance on firm value with industry type as a moderating variable. The sample used in this study are companies that listed on the Indonesia Stock Exchange (IDX) and publish sustainability report for the period 2012-2016. Testing was done by using multiple regression analysis with moderation regression analysis method. The result of this research are: (1) corporate social responsibility disclosure has an positif effect on firm value, (2) financial performance has an positif effect to firm value, (3) non financial performance has no effect on firm value, (4) industry type not moderating the influence of corporate social responsibility disclosure on firm value (5) industry type not moderating the influence of financial performance on firm value, and (6) industry type not moderating the influence of non financial performance on firm value.

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