PENGARUH FINANCIAL PERFORMANCE TERHADAP FIRM VALUE DENGAN CORPORATE SOCIAL RESPONSIBILITY SEBAGAI VARIABEL INTERVENING

Jesslin Intan Christie, Ririn Breliastiti

Abstract


Every company certainly has a goal to achieve maximum firm value. This study aims to examine the effect of financial performance, namely leverage and profitability on firm value with corporate social responsibility as an intervening variable in consumer goods industrial manufacturing companies listed on the Indonesia Stock Exchange for the 2017–2019 period. The data used is secondary data. The sampling method was purposive sampling and obtained 32 companies as research samples for 3 years. The analysis in this study uses the SPSS 25 program and the data analysis technique uses path analysis techniques. Based on the results of research conducted, leverage has a positive effect on corporate social responsibility, profitability has a positive effect on corporate social responsibility, leverage has a positive effect on firm value, profitability has a positive effect on firm value and corporate social responsibility has a positive effect on firm value. Corporate social responsibility failed to mediate the effect of leverage and profitability on firm value. Based on the results of the research, the company is expected to further optimize the conditions of leverage, profitability and corporate social responsibility which are able to attract the attention of investors and have an impact on increasing firm value. Companies are expected to be more serious in managing corporate social responsibility programs and then disclose them in the annual report. Investors are expected to pay more attention to information that explains the implementation of corporate social responsibility contained in the annual report as a consideration in investment decisions.


Keywords


Financial performance, firm value, Corporate Social Responsibility

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References


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