PENGARUH KARAKTERISTIK PERUSAHAAN TERHADAP NILAI PERUSAHAAN DENGAN CSR SEBAGAI VARIABEL MODERATING

Abstract

Increasing the value of the company is an achievement in accordance with the wishes of the owners of the company, because with increasing company value, the welfare of the owners and investors will also increase. Factors of company characteristics and CSR are predicted to influence the increase in firm value. This study aims to examine the effect of company characteristics on firm value with Corporate Social Responsibility as a moderating variable. Data population are all manufacturing companies listed on the Indonesia Stock Exchange in 2016-2018. Sampling used a purposive sampling method and 355 company samples were obtained. This study uses secondary data from annual reports. Data were analyzed using The Structural Equation Modeling (SEM) 3.0 method.

The results of this study indicate that profitability has a significant positive effect on firm value. Leverage has a significant negative effect on firm value. Company size has no significant positive effect on firm value. Liquidity has a significant negative effect on firm value. CSR is able to moderate or strengthen profitability, which has a positive and significant effect on firm value. CSR is not able to moderate or weaken the influence of leverage on firm value. CSR is able to moderate or strengthen company size and has a positive and significant effect on firm value. CSR is not able to moderate the effect of liquidity on firm value.

Keywords: Company Characteristics, Corporate Social Responsibility, Company Value, Manufacturing Companies, IDX.