The Influence of Corporate Social Responsibility Disclosures on Firm Value: Does Firm Maturity Matters?

Authors

  • Lina Universitas Pelita Harapan
  • Kimberly Edelweiss Universitas Pelita Harapan

Keywords:

Firm Value, Corporate Social Responsibility, Firm Maturity, Indonesia

Abstract

This study aims to provide empirical evidence regarding the influence of corporate social responsibility on firm value. In addition, this study also wants to prove the moderating role of firm maturity on the influence of corporate social responsibility disclosure on firm value. The research sample was all companies except the financial sector which are included in the main board listed on the Indonesia Stock Exchange from 2020 to 2022. The results of the study indicate that corporate social responsibility disclosure has a positive influence on firm value. Firm maturity has not been proven to strengthen the influence of corporate social responsibility disclosure on firm value.

References

Darmastika, I. W., & Ratnadi, N. M. D. (2019). Pengaruh pengungkapan corporate social responsibility pada nilai perusahaan dengan profitabilitas dan leverage sebagai variabel moderasi. E-Jurnal Akuntansi, 27(1), 362–388. https://doi.org/10.24843/eja.2019.v27.i01.p14

Fahad, P., & Nidheesh. K. B. (2021). Determinants of CSR disclosure: An evidence from India. Journal of Indian Business Research, 13(1), 110–133. https://doi.org/10.1108/JIBR-06-2018-0171

Febriyanti, G. A. (2021). Factors affecting sustainability reporting disclosure. E-Jurnal Akuntansi, 31(12), 3195–3206. https://doi.org/10.24843/EJA.2021.v

Iman, C., Sari, F. N., & Pujiati, N. (2021). Pengaruh likuiditas dan profitabilitas terhadap nilai perusahaan. Jurnal Ekonomi & Manajemen Universitas Bina Sarana Informatika, 19(2), 191–198. https://doi.org/10.31294/jp.v17i2

Indriastuti, M., & Chariri, A. (2021). The role of green investment and corporate social responsibility investment on sustainable performance. Cogent Business and Management, 8(1), 1–12. https://doi.org/10.1080/23311975.2021.1960120

Kesumastuti, M. A. R. M., & Dewi, A. A. (2021). Pengaruh pengungkapan CSR terhadap nilai perusahaan dengan usia dan ukuran perusahaan sebagai variabel moderasi. E-Jurnal Akuntansi, 31(7), 1854–1866. https://doi.org/10.24843/eja.2021.v31.i07.p19

Nurjanah, R., & Mulazid, A. S. (2018). Pengaruh kualitas pelayanan dan corporate social responsibility terhadap citra perusahaan. Muqtasid: Jurnal Ekonomi dan Perbankan Syariah, 9(1), 40–53. https://doi.org/10.18326/muqtasid.v9i1.40-53

Nusaputra, F., & Basana, S. R. (2021). The effect of agency costs, ownership structure, signaling, investment opportunities, size, financial leverage, and profitability on dividend policy of companies listed in Indonesian stock exchange. International Journal of Financial and Investment Studies (IJFIS), 1(2), 109–120. https://doi.org/10.9744/ijfis.1.2.109-120

Park, B. J. (2021). Corporate social and financial performance: The role of firm life cycle in business groups. Sustainability (Switzerland), 13(13), 1–16. https://doi.org/10.3390/su13137445

Purbawangsa, I. B. A., Solimun, S., Fernandes, A. A. R., & Rahayu, S. M. (2020). Corporate governance, corporate profitability toward corporate social responsibility disclosure and corporate value (comparative study in Indonesia, China and India stock exchange in 2013-2016). Social Responsibility Journal, 16(7), 983–999. https://doi.org/10.1108/SRJ-08-2017-0160

Saragih, A. E., & Sihombing, U. T. (2021). Pengaruh intellectual capital, good corporate governance, dan ukuran perusahaan terhadap kinerja keuangan perusahaan perbankan yang terdaftar di bursa efek Indonesia. Jurnal Riset Akuntansi Dan Keuangan, 7(1), 1–17. https://doi.org/https://doi.org/10.54367/jrak.v7i1.1133

Shirasu, Y., & Kawakita, H. (2021). Long-term financial performance of corporate social responsibility. Global Finance Journal, 50., 1–12. https://doi.org/10.1016/j.gfj.2020.100532

Spence, M. (1973). Job market signaling. The Quarterly Journal of Economics, 87(3), 355–374.

Susila, I. M. P., & Prena, G. D. (2019). Pengaruh keputusan pendanaan, kebijakan deviden, profitabilitas dan corporate social responsibility terhadap nilai perusahaan. Jurnal Akuntansi: Kajian Ilmiah Akuntansi, 6(1), 80–87. https://doi.org/10.30656/jak.v6i1.941

Teng, C. C., & Yang, J. J. (2021). Media exposure on corporate social irresponsibility and firm performance. Pacific Basin Finance Journal, 68, 1–12. https://doi.org/10.1016/j.pacfin.2021.101604

Triyani, A., Setyahuni, S. W., & Makwuna, F. D. (2021). Pengaruh kinerja non keuangan (environmental, social, governance) terhadap resiko investasi perusahaan. Jurnal Akuntansi Dan Bisnis: Jurnal Program Studi Akuntansi, 7(2), 155–165. https://doi.org/10.31289/jab.v7i2.5602

Triyonowati, T., & Djawoto, D. (2019). Pengaruh kinerja keuangan terhadap nilai perusahaan dengan kebijakan dividen sebagai variabel moderating. Jurnal Riset Akuntansi Dan Perpajakan, 6(1), 126–142.

Wu, J., Ding, Y., Zhang, F., & Li, D. (2021). How to improve environmental performance of heavily polluting companies in China? A cross-level configurational approach. Journal of Cleaner Production, 311, 340–350. https://doi.org/10.1016/j.jclepro.2021.127450

Zhao, T., & Xiao, X. (2019). The impact of corporate social responsibility on financial constraints: Does the life cycle stage of a firm matter? International Review of Economics and Finance, 63, 76–93. https://doi.org/10.1016/j.iref.2018.08.010

cover image of proceedings

Downloads

Published

2025-01-21

Issue

Vol. 4 (2024): Proceedings of the 4th International Conference on Entrepreneurship (IConEnt)

Section

Articles

License

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.