The Role of Firm Value Disclosure

Rina Mukti Rahayu; Aprih Santoso

doi:10.47709/governors.v1i3.1782

Authors

Rina Mukti Rahayu Universitas Semarang
Aprih Santoso Universitas Semarang

DOI:

10.47709/governors.v1i3.1782

Keywords:

CSR, Firm value, Leverage, Profitability, Size

Dimension Badge Record

Abstract

The firm value is a reflection of every financial management action and decision that affects the stock market Price. CSR is suspected to be a control over company value considering that it can strengthen or weaken the effect of GCG and profitability ratios on firm value. This study aims analyze CSR in partially moderating the effect of GCG and profitability on firm value, and the partial influence of GCG and profitability on firm value. The data is taken from the financial statements and annual reports of manufacturing companies listed on the IDX for the period 2015 – 2021. Using purposive sampling, 21 companies are the samples of the study. The data was processed by multiple regression analysis using the help of the IBM SPSS Statistics 26 application. The results showed that GCG and profitability had a positive and significant effect on firm value. The results of testing the moderating variable showed that CSR moderated the effect of GCG and profitability on firm value.

Google Scholar Cite Analysis
Abstract viewed = 75 times

References

Agustine, I. 2014. Pengaruh Corporate Social Responsibility Terhadap Nilai Perusahaan. Jurnal FINESTA. 2 (1). 42-47.

Allazy, M.R. 2013. Pengaruh Leverage, Profitabilitas, Likuiditas, Kebijakan Deviden, Ukuran Perusahaan, dan Pertumbuhan Perusahaan Terhadap Nilai Perusahaan. Jurnal Ilmiah Universitas Bakrie. 1(2). 1-12

Cheng, Ming Chang and Tzeng Zuwei Ching. 2011. The Effect of Leverage on Firm Value and How The Firm Financial Quality Influence on This Effect. World Journal of Management. 3 (2). 30-53.

Dewi, A.S.M. & Wirajaya, A. 2013. Pengaruh Struktur Modal, Profitabilitas dan Ukuran Perusahaan pada Nilai Perusahaan. E-Jurnal Akuntansi Universitas Udayana. 4(2). 358-372.

Emezi & Nwaneri, C. 2015. The Impact of Corporate Social Responsibility (CSR) on Organization Profitability. International Journal of Business and Management. 10 (9). 8033-8119.

Ferial, F., Suhadak, S., & Handayani, S. 2016. Pengaruh good corporate governance terhadap kinerja keuangan dan efeknya terhadap nilai perusahaan (studi pada badan usaha milik negara yang terdaftar di bursa efek indonesia periode 2012-2014). Jurnal Administrasi Bisnis S1 Universitas Brawijaya, 33(1), 146–153.

Gherghina, S.C. & Vintila, G. 2016. Exploring The Impact Of Corporate Social Responsibility Policies On Firm Value: The Case Of Listed Companies In Romania. Economics and Sociology. 9 (1). 23-42.

Hadyarti, V., & Mahsin, T. M. 2020. Corporate Social Responsibility (Csr) Dan Good Corporate Governance (Gcg) Sebagai Indikator Dalam Menilai Nilai Perusahaan. Competence?: Journal of Management Studies, 13(1), 17–33. https://doi.org/10.21107/kompetensi.v13i1.6819 Inastri

Inastri, M. A. 2017. Pengaruh Penerapan Good Corporate Governance dan Pengungkapan Corporate Social Responsibility Pada Nilai Perusahaan. E-Jurnal Akuntansi, 21(2), 1400– 1429. https://doi.org/10.24843/EJA.2017.v21.i02.p20 Ja

Jamali, D., Hallal, M., & Abdallah, H. 2017. Corporate governance and corporate social responsibility: Evidence from the healthcare sector. Corporate Governance, 10(5), 590–602. https://doi.org/10.1108/14720701011085562 Jen

Loose, S.M & Remaud, H. 2013. Impact of corporate social responsibility claims on consumer food choice A cross-cultural comparison. British Food Journal. 115 (1). 142-161

Mangantar, M. & Ali, M. 2015. An Analysis of the Influence of Ownership Structure, Investment, Liquidity and Risk to Firm Value: Evidence from Indonesia. American Journal of Economics and Business Administration. 7(4).166-176.

Marchyta, N.K. & Astuti, D. 2015. Pengaruh Struktur Modal dan Karakteristik Perusahaan Terhadap Profitabilitas dan Nilai Perusahaan. Jurnal FINESTA. 3(1). 13-18

Mardiyati, U., Ahmad, G.N. & Putri, R. (2012). Pengaruh Kebijakan Dividen, Kebijakan Hutangdan Profitabilitas Terhadap Nilai Perusahaanmanufaktur Yang Terdaftardi Bursa Efekindonesia (BEI) Periode 2005-2010. Jurnal Riset Manajemen Sains Indonesia (JRMSI). 3 (1). 1-17

Nafisah, N.I., Halim, A., & Sari, A.R. 2018. Pengaruh return on assets (ROA), debt to equity ratio (DER), current ratio (CR), return on equity (ROE), price earning ratio (PER), total assets turnover (TATO), dan earning per share (EPS) terhadap nilai perusahaan manufaktur yang terdaftar di BEI tahun 2014-2015. Jurnal Riset Mahasiswa Akuntansi, JRMA. 6(2). 1-17

Pramana, N.A.D. & Mustanda, K. 2016. Pengaruh Profitabilitas, Size terhadap Nilai perusahaan dengan CSR sebagai Pemoderasi. E-Jurnal Manajemen Unud. 5(1). 561 – 594

Pratama, I.G.G.W & Wirawati, N.G.P. 2016. Pengaruh struktur modal dan profitabilitas terhadap nilai perusahaan dengan kepemilikan manajerial sebagai pemoderasi. E-Jurnal Akuntansi 15(3). 1817-1825

Purnamawati, I. G. A., Yuniarta, G. A., & Astria, P. R. 2017. Good Corporate Governance Dan Pengaruhnya Terhadap Nilai Perusahaan Melalui Corporate Social Responsibility Disclosure. Jurnal Keuangan Dan Perbankan, 21(2), 276–286. https://doi.org/10.26905/jkdp.v21i2.505

Retno, D. R., & Prihatinah, D. 2017. Pengaruh good corporate governance dan pengungkapan corporate social responsibility terhadap nilai perusahaan ( studi empiris pada perusahaan yang terdaftar di Bursa Efek Indonesia periode 2012-2017). Jurnal Nominal, I(5), 12–14. https://doi.org/998-3068-1-pb.pdf

Sadalia, I. Simanjuntak, S. & Butar-Butar,N.A. 2017. An analysis of the determinants of capital structure and their influence on firm value (a case study on manufacturing companies investors in Southeast Asia). International Journal of Applied Business and Economic Research. 15 (19), 165-177

Sembiring, E.R 2005. Karakteristik Perusahaan dan Pengungkapan Tanggungjawab Sosial Studi Empiris pada Perusahaan yang Tercatat di Bursa Efek Jakarta. SNA VIII Solo. September 2005. 379-388. Suda

Soedaryono, B., & Riduifana, D. 2014. Pengaruh Good Corporate Governance Terhadap Nilai Perusahaan,. Diponegoro Journal Of Accounting, 4(3), 67–77

Sudana, I.M. & Arlindania, P.A. 2011. Corporate Governance dan Pengungkapan Corporate Social Responsibility pada Perusahaan Go- Public di Bursa Efek Indonesia. Jurnal Manajemen Teori dan Terapan. 4(1). 37-49.

Susanti, M..& Santoso, E.B. 2011. Pengaruh Profitabilitas Terhadap Nilai Perusahaan dengan Corporate Social Responsibility Sebagai Variabel Moederasi. Kajian Akuntansi. 6 (2). 124-133.

Sutama, D.R., & Lisa, E. 2018. Pengaruh Leverage Dan Profitabilitas Terhadap Nilai Perusahaan (Studi Pada Perusahaan Sektor Manufaktur Food And Beverage Yang Terdaftar Di Bursa Efek Indonesia). JSMA (Jurnal Sains Manajemen dan Akuntansi) 10 (1), 21–39.

Tamara, I. G. A. A. T. I., & Budiasih, I. G. A. N. 2020. Corporate Social Responsibility Disclosure as Moderation The Effect Of Good Corporate Governance on Firm Value. 1221–1232

Thaib, I. & Dewantoro, A. 2017. Pengaruh profitabilitas dan likuiditas terhadap nilai perusahaan dengan struktur modal sebagai variabel intervening (Studi pada perusahaan transportasi laut di Bursa Efek Indonesia. Jurnal Riset Perbankan Manajemen dan Akuntansi. 1(1). 25-44

Purba, I>B.G.I.W. & Yadnya, I.P. 2015. Pengaruh Ukuran Perusahaan dan Leverage Terhadap Profitabilitas dan Pengungkapan Corporate Social Responsibility. E-Jurnal Manajemen Unud. 4 (8). 2428-2443

Wijaya, A. & Linawati, N.. 2015. Pengaruh Kinerja Keuangan terhadap Nilai Perusahaan. Jurnal FINESTA, 3 (1). 46-51