scholarly journals PENGARUH PENGUNGKAPAN CORPORATE SOCIAL RESPONSIBILITY TERHADAP NILAI PERUSAHAAN DENGAN PROFITABILITAS SEBAGAI VARIABEL PEMODERASI PADA PERUSAHAAN PERTAMBANGAN YANG TERDAFTAR DI BEI

2020 ◽  
Vol 1 (1) ◽  
pp. 56
Author(s):  
Kheisy Kharenia Benne ◽  
Petrus Moningka
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Firm Value ◽  
Information Disclosure ◽  
Stock Exchange ◽  
Tobin’S Q ◽  
Tobin's Q ◽  
Purposive Sampling ◽  
Corporate Social ◽  
The Relationship

This study aims to analyze the effect of CSR information disclosure measured by Corporate-Social-Responsibility-Index according to GRI G4 on firm value measured by Tobin’s Q.  In addition, this study aims to analyze whether profitability measured by return on asset (ROA) can strengthen the relationship between disclosure of CSR and firm value. The population of this study is mining sector companies listed at Indonesia Stock Exchange for the period of 2015-2017. Samples were determined by purposive sampling method and obtained 35 companies as the research samples. This study uses secondary data and multiple regression analysis as the data analysis. The results of this study show that: (1) CSR information disclosure has positive significant effect to firm value, (2) Profitability can strengthen the relationship between disclosure of CSR and firm value. Keywords: Corporate social responsibility, firm value, profitability Penelitian ini bertujuan untuk menganalisa pengaruh pengungkapan CSR yang diukur dengan Corporate-Social-Responsibility-Index menurut GRI G4 terhadap nilai perusahaan yang diukur menggunakan Tobin’s Q. Selain itu, penelitian ini juga bertujuan untuk menganalisa apakah profitabilitas yang diukur dengan return on assets (ROA) dapat memperkuat hubungan antara pengungkapan CSR dan nilai perusahaan. Populasi dalam penelitian ini adalah perusahaan  pertambangan yang terdaftar di Bursa Efek Indonesia (BEI) tahun 2015-2017. Sampel ditentukan berdasarkan metode purposive sampling, sehingga diperoleh 35 perusahaan sebagai sampel penelitian. Data yang digunakan dalam penelitian ini berupa data sekunder. Metode analisis yang digunakan adalah analisis regresi berganda. Hasil penelitian menunjukkan bahwa: (1) Pengungkapan CSR berpengaruh signifikan positif terhadap nilai perusahaan, (2) Profitabilitas dapat memperkuat hubungan antara pengungkapan CSR dan nilai perusahaan. Kata kunci: Corporate social responsibility, nilai perusahaan, profitabilitas

scholarly journals ANALISIS PENGARUH CORPORATE SOCIAL RESPONSIBILITY, TAX AVOIDANCE TERHADAP NILAI PERUSAHAAN DENGAN KEPEMILIKAN ASING SEBAGAI VARIABEL MODERASI PADA PERUSAHAAN MANUFAKTUR DI BEI PERIODE 2016 - 2018

2020 ◽  
Vol 13 (1) ◽  
Author(s):  
Nikki Kwok ◽  
Andi Gunawan Kwok
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Firm Value ◽  
Stock Exchange ◽  
Tax Avoidance ◽  
Foreign Ownership ◽  
Manufacturing Companies ◽  
Purposive Sampling ◽  
Corporate Social ◽  
The Relationship

Abstract: The main goal of the company is to maximize prosperity for shareholders, this can be achieved by maximizing the value of the company. This research was conducted to determine the factors that influence the value of the company to be studied are Corporate Social Responsibility and Tax Avoidance. The moderating variable in this study is Foreign Ownership. The sample of this research is manufacturing companies whose shares are listed on the Indonesia Stock Exchange for the period of 2016-2018 using purposive sampling method. While the analytical method used is the classic assumption test and hypothesis testThe results of this study indicate that corporate social responsibility has no influence on firm value, and tax avoidance has an influence on firm value. Foreign ownership is not able to be a moderating variable that strengthens the relationship between corporate social responsibility and corporate value while foreign ownership is able to be a moderating variable that strengthens the relationship between tax avoidance and firm value. Keywords: Firm value, Corporate Social Responsibility, Tax Avoidance and Foreign Ownership Abstrak: Tujuan utama perusahaan adalah untuk memaksimalkan kemakmuran bagi pemegang saham, hal ini dapat dicapai dengan memaksimalkan nilai perusahaan. Penelitian ini dilakukan untuk mengetahui faktor-faktor yang mempengaruhi nilai perusahaan yang akan diteliti adalah Corporate Social Responsibility dan Tax Avoidance. Variabel Moderating pada penelitian ini adalah Kepemilikan Asing.Sampel penelitian ini adalah perusahaan manufaktur yang sahamnya terdaftar di Bursa Efek Indonesia periode 2016-2018 dengan menggunakan metode purposive sampling. Sedangkan metode analisis yang digunakan adalah uji asumsi klasik dan uji hipotesis. Hasil penelitian ini menunjukkan bahwa corporate social responsibility tidak memiliki pengaruh terhadap nilai perusahaan, dan tax avoidance memiliki pengaruh terhadap nilai perusahaan. Kepemilikan asing tidak mampu menjadi variabel moderating yang memperkuat hubungan antara corporate social responsibility dengan nilai perusahaan sedangkan Kepemilikan asing mampu menjadi variabel moderating yang memperkuat hubungan antara tax avoidance dengan nilai perusahaan. Kata Kunci: Nilai Perusahaan, Corporate Social Responsibility, Tax Avoidance dan Kepemilikan Asing.

scholarly journals Corporate Social Responsibility and Firm Value: The Moderating Effects of Financial Flexibility and R&D Investment

2020 ◽  
Vol 12 (20) ◽  
pp. 8452
Author(s):  
Zhaoyang Guo ◽  
Siyu Hou ◽  
Qingchang Li
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Firm Value ◽  
Idiosyncratic Risk ◽  
Tobin’S Q ◽  
Moderating Effects ◽  
Tobin's Q ◽  
Financial Flexibility ◽  
Corporate Social ◽  
D Investment

Despite the significance of corporate social responsibility (CSR), there remains an extensive debate regarding its implications for firm value. This study examines the moderating effects of financial flexibility and R&D investment on CSR and firm value. Using multiple archival data of 2311 companies from 2010 to 2016, our study finds that CSR is a “double-edged sword” for firm value; specifically, CSR significantly increases systematic risk but reduces firms’ idiosyncratic risk as well as the Tobin’s q. Besides, the results indicate that financial flexibility and R&D investment significantly reduce the negative correlation between CSR and Tobin’s q, the difference between the two being that financial flexibility can reduce the positive relationship between CSR and system risk, while R&D spending can reduce the negative relationship between CSR and idiosyncratic risk. By adding new aspects to the discussion about how CSR affects firm value, the results speak to both theorists and practitioners.

scholarly journals Influence of Corporate Governance on Firm Value Through Intellectual Capital and Corporate Social Responsibility

2019 ◽  
Vol 9 (4) ◽  
pp. 148
Author(s):  
Zainab Masitha ◽  
Djuminah
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Intellectual Capital ◽  
Firm Value ◽  
Audit Committee ◽  
Stock Exchange ◽  
Negative Effect ◽  
Corporate Social ◽  
The Relationship ◽  
Positive Effect

This study aims to find out empirical evidence about the influence of corporate governance on firm value through intellectual capital and corporate social responsibility. The sample used in this study amounted to 123 manufacturing companies listed on the Indonesia Stock Exchange continuously during the period 2015-2017 using purposive sampling technique. This study uses quantitative methods with secondary data obtained from annual reports that have been published by the Indonesia Stock Exchange during the period 2015-2017, which can be accessed through www.idx.co.id. Data analysis in this study uses Structural Equation Modeling based on Partial Least Square (SEM-PLS) with SmartPLS 3.0 software.The results showed that the board of commissioners had a significant negative effect on intellectual capital and had a significant positive effect on corporate social responsibility. Board of Commissioners has a significant positive effect on intellectual capital and has a significant negative effect on corporate social responsibility. The board of commissioners, audit committees, intellectual capital and corporate social responsibility have a positive and significant effect on firm value. Intellectual capital is not able to mediate the relationship between the board of commissioners and firm value, as well as the relationship of the audit committee to firm value. CSR is not able to mediate the relationship between the board of commissioners and firm value and the relationship between the audit committee and firm value.

scholarly journals Pengaruh Kepemilikan Institusional Terhadap Nilai Perusahaan Dimoderasi Oleh Corporate Social Responsibility:

2019 ◽  
Vol 1 (1) ◽  
pp. 487-503
Author(s):  
Shabran Jamil ◽  
Erinos NR ◽  
Mayar Afriyenti
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Firm Value ◽  
Stock Exchange ◽  
Secondary Data ◽  
Institutional Ownership ◽  
Annual Reports ◽  
Company Value ◽  
Corporate Social ◽  
The Relationship

This study aims to find empirical evidence regarding the relationship between institutional ownership and company value which is moderated by corporate social responsibility (CSR). The population in this study were 48 property and real estate companies listed on the Stock Exchange in 2015-2017, with the number of samples used was 35 companies. The data used is secondary data in the form of annual reports obtained from the IDX website (www.idx.co.id). The testing in this study was conducted with moderated regression analysis (MRA). The results show that institutional ownership has no effect on corporate value and Corporate Social Responsibility (CSR) has not been able to moderate the moderation between institutional ownership and firm value.

scholarly journals DAMPAK MODERASI INTENSITAS RESEARCH DAN DEVELOPMENT TERHADAP PENGARUH PENGUNGKAPAN CORPORATE SOCIAL RESPONSIBILITY PADA NILAI PERUSAHAAN

2021 ◽  
Vol 17 (2) ◽  
pp. 101-124
Author(s):  
Thio Anastasia Petronila ◽  
James Julian Surjadi
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Research And Development ◽  
Firm Value ◽  
Stock Exchange ◽  
Annual Reports ◽  
Corporate Social Responsibility Disclosure ◽  
Corporate Social ◽  
The Impact ◽  
The Relationship

The responsibility of a company is not only to make profits, but the company is also responsible for the impact of its products and production processes on social and environmental aspects. This research aims to analyze the effect of corporate social responsibility disclosure on financial performance and analyze the relationship between corporate social responsibility and firm value with the intensity of research and development as a moderating variable. The research was conducted on companies in the consumer goods industry pharmaceutical sub-sector which were listed on the Indonesia Stock Exchange (IDX) for the 2016-2018 period. Of the 10 companies there are 8 companies were sampled based on purposive sampling and from the outlier data, there are 22 observation units used in this research. The data used in this research are secondary data obtained from financial reports and annual reports. The results show that corporate social responsibility disclosure has a significant effect on a firm value which is proxied by Tobin's Q. While research and development intensity does not moderate the relationship between corporate social responsibility disclosure and firm value.

scholarly journals Analisis Perbedaan Tingkat Pengungkapan Corporate Social Responsibility (CSR) dan Kinerja Keuangan Perusahaan pada Industri High-Profile dan Low-Profile

2016 ◽  
Vol 3 (3) ◽  
pp. 303-318
Author(s):  
Sisilia Devina Permatasari ◽  
Supatmi Supatmi
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Financial Performance ◽  
Stock Exchange ◽  
Tobin’S Q ◽  
Tobin's Q ◽  
High Profile ◽  
Low Profile ◽  
The Difference ◽  
Corporate Social

This study aims to prove the difference in the level of disclosure of Corporate Social Responsibility (CSR) and financial performance among the industry's high-profile and low-profile. This study also proved that if there is a relationship between the level of CSR and financial performance. Financial performance is measured using the Return On Equity (ROE) and Tobin's Q. The samples are 346 companies listed in Indonesia Stock Exchange (IDX) in 2012, where the industry as much as 167 high-profile and low-profile companies as much as 179 companies. The sampling method used is purposive sampling. The analyze used to test Mann-Whitney test first, while the second test using Spearman correlation test. The results of this study indicate that there are differences in the level of disclosure of CSR and financial performance as measured by Tobin's Q between industrial high-profile and low-profile, but did not differ when performance is measured by ROE. In addition, this study proves that there is a positive relationship between the level of CSR and financial performance as measured by ROE, but there is no relationship between the level of CSR and financial performance as measured by Tobin's Q. Keywords : Corporate Social Responsibility Disclosure, ROE, Tobin’s Q, high-profile and low-profile industries.

scholarly journals Hubungan Good Corporate Governance dengan Nilai Perusahaan yang Dimoderasi Oleh Pengungkapan Corporate Social Responsibility dan Profitabilitas

2020 ◽  
Vol 21 (01) ◽  
Author(s):  
Yuliusman Yuliusman ◽  
Indra Lila Kusuma
Keyword(s):  
Corporate Governance ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Firm Value ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Company Value ◽  
Good Corporate Governance ◽  
Corporate Social ◽  
The Relationship

This study aims to examine the effect of Good Corporate Governance on firm value by disclosing Corporate Social Responsibility and profitability as a moderating variable. Good Corporate Governance variables are measured by CGPI scores. Company value variable is measured by Tobins' Q. Corporate Social Responsibility disclosure variables measured by the GRI 4.0 item checklist. The profitability variable is measured by Return on Assets (ROA). This study uses a sample of companies that participated in the IICG on the Indonesia Stock Exchange (IDX) for the period 2014 - 2018. The sampling technique used was purposive sampling. The sample used in this study amounted to 7 companies, a total of 35 data. The data analysis technique in this study is the moderation regression analysis. The software used for data processing is SPSS version 22 for Windows. The results of hypothesis testing are as follows. First, Good Corporate Governance influences company value. Second, disclosure of Corporate Social Responsibility is able to moderate the relationship between Good Corporate Governance and corporate value. Third, profitability is not able to moderate the relationship between Good Corporate Governance and firm value.

scholarly journals PENGARUH PENGUNGKAPAN TANGGUNG JAWAB SOSIAL PERUSAHAAN TERHADAP KINERJA KEUANGAN

2018 ◽  
Vol 1 (2) ◽  
pp. 204-219 ◽  
Author(s):  
Elvira Luthan ◽  
Sri Amelia Rizki ◽  
Sri Dewi Edmawati
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Tobin’S Q ◽  
Tobin's Q ◽  
Purposive Sampling ◽  
Corporate Social

Tujuan dari penelitian ini adalah untuk mengetahui : (1) Pengaruh pengungkapan tanggung jawab sosial perusahaan (Corporate Social Responsibility/CSR) terhadap kinerja keuangan perusahaan (2) Pengaruh karakteristik perusahaan sebagai variabel moderating dalam hubungan antara pengungkapan tanggung jawab sosial perusahaan dan kinerja keuangan perusahaan. Penelitian ini menggunakan analisis regresi berganda. Sampel penelitian adalah 45  perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia (BEI) periode 2011-2014. Sampel penelitian dipilih dengan teknik purposive sampling dengan kriteria yang telah ditetapkan. Umur perusahaan, ukuran dewan komisaris dan ukuran perusahaan digunakan sebagai proksi dari karakteristik perusahaan, sedangkan return on asset (ROA) dan tobin’s Q sebagai proksi dari kinerja keuangan perusahaan. Hasil uji hipotesis menunjukkan pengungkapan tangung jawab sosial perusahaan berpengaruh secara signifikan terhadap kinerja keuangan yang diukur dengan ROA, sedangkan terhadap kinerja keuangan yang diukur dengan tobin’s Q tidak berpengaruh signifikan. Hasil uji interaksi menunjukkan umur perusahaan mampu meningkatkan pengaruh (memoderating) pengungkapan tanggung jawab sosial perusahaan terhadap kinerja keuangan yang diukur dengan ROA. Sementara itu ukuran dewan komisaris dan ukuran perusahaan tidak mampu memoderating dalam hubungan antara pengungkapan tanggung jawab sosial perusahaan dan kinerja keuangan baik yang diukur dengan ROA atau tobin’s Q.

scholarly journals ANALISIS PENGARUH GOOD CORPORATE GOVERNANCE TERHADAP NILAI PERUSAHAAN DENGAN CORPORATE SOCIAL RESPONSIBILITY SEBAGAI VARIABELPEMODERASI (STUDI PADA INDEKS SRI-KEHATIYANG LISTED DI BEI)

2019 ◽  
Vol 8 (1) ◽  
Author(s):  
Iwan Kusuma Negara
Keyword(s):  
Corporate Governance ◽  
Regression Analysis ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Firm Value ◽  
Tobin’S Q ◽  
Tobin's Q ◽  
Good Corporate Governance ◽  
Csr Disclosure ◽  
Corporate Social

This study aims to analyze the influence of Good Corporate Governance (GCG) moderated by Corporate Social Responsibility (CSR) toward firm value in the period of 2014-2016 by using Moderated Regression Analysis method. The population in this research consists of 25 firms listed in the SRI-KEHATI Index which is an index on the Indonesia Stock Exchange, formed by the biodiversity foundation (Kehati) by prioritizing the principles of sustainability and social responsibility.There are 11 firms selected as research samples obtained by purposive sampling technique.The data used are secondary data in the form of company annual report during the study period, which published through website www.idx.co.id. Hypotheses testing are conducted by t-test and F-test. The results showed that GCG did not have a significant effect on firm value as measured by Tobin's Q. Meanwhile, as an independent variable, CSR disclosure gave an insignificant negative effect on firm value.As a moderating variable, CSR was able to strengthen the relationship between GCG and firm value.This is because  CSR disclosure is one form of implementation of GCG, which means if the CSR disclosure getting better, it also will make the GCG better. Eventually, it will affect the change on firm value. Penelitian ini bertujuan untuk menganalisis pengaruh Good Corporate Governance (GCG) yang dimoderasi oleh Corporate Social Responsibility (CSR) terhadap nilai perusahaan pada periode 2014-2016 dengan menggunakan metode Moderated Regression Analysis. Populasi dalam penelitian ini terdiri dari 25 perusahaan yang terdaftar dalam Indeks SRI-KEHATI yang merupakan indeks di Bursa Efek Indonesia, yang dibentuk oleh yayasan keanekaragaman hayati (Kehati) dengan memprioritaskan prinsip-prinsip keberlanjutan dan tanggung jawab sosial. Ada 11 perusahaan yang dipilih sebagai sampel penelitian yang diperoleh dengan teknik purposive sampling. Data yang digunakan adalah data sekunder dalam bentuk laporan tahunan perusahaan selama masa studi, yang dipublikasikan melalui situs web www.idx.co.id. Pengujian hipotesis dilakukan dengan uji-t dan uji-F. Hasil penelitian menunjukkan bahwa GCG tidak memiliki pengaruh yang signifikan terhadap nilai perusahaan yang diukur dengan Tobin's Q. Sementara itu, sebagai variabel independen, pengungkapan CSR memberikan pengaruh negatif yang tidak signifikan terhadap nilai perusahaan. Sebagai variabel moderasi, CSR mampu memperkuat hubungan antara GCG dan nilai perusahaan. Hal ini karena pengungkapan CSR adalah salah satu bentuk penerapan GCG, yang berarti jika pengungkapan CSR semakin baik, maka juga akan membuat GCG lebih baik. Akhirnya, itu akan mempengaruhi perubahan pada nilai perusahaan. Keywords: Good Corporate Governance, Corporate Social Responsibility, Firm Value, Tobin's Q, Regression Analysis,SRI-KEHATIIndex. Kata Kunci: Tata Kelola Perusahaan yang Baik, Tanggung Jawab Sosial Perusahaan, Nilai Perusahaan, Tobin Q, Analisis Regresi, Indeks SRI-KEHATI.

scholarly journals Corporate Social Responsibility, Ownership Structure, and Firm Value: Evidence from Korea

2018 ◽  
Vol 10 (7) ◽  
pp. 2497 ◽  
Author(s):  
Woo Kim ◽  
Kunsu Park ◽  
Sang Lee
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Empirical Evidence ◽  
Ownership Structure ◽  
Firm Value ◽  
Stock Exchange ◽  
Foreign Ownership ◽  
Large Shareholder ◽  
Corporate Social ◽  
The Relationship

This study examines the relationship between corporate social responsibility (CSR) and firm value in the context of ownership structure. Specifically, our study explores whether large shareholder and foreign shareholder ownership play an important role in the CSR–firm value relationship. Using a sample of 48 firms listed on the Korea Stock Exchange (KSE) between 2010 and 2014, we find that CSR is positively associated with firm value. We further find that the relationship between CSR and firm value is weaker in firms with high large shareholder ownership than in firms with low large shareholder ownership. However, we find no evidence of the effect of foreign ownership on the relationship between CSR and firm value. This study sheds light on the importance of ownership structure in the relationship between CSR and firm value, suggesting significant implications for academics, practitioners, and policymakers. We contribute to the existing literature by providing empirical evidence on the effect of ownership structure on the CSR–firm value relationship. Policymakers may consider these results in implementing their policies that can enhance CSR activities.

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