PERAN MODERASI CORPORATE SOSIAL RESPONSIBILITY TERHADAP NILAI PERUSAHAAN: PERSPEKTIF TEORI SINYAL

  • FADILLA - CAHYANINGTYAS INSTITUT TEKNOLOGI DAN BISNIS ASIA MALANG
Keywords: Nilai Perusahaan; Corporate Social Responsibility; Profitabilitas; Ukuran Perusahaan; Pertambangan

Abstract

Abstract: The purpose of this study was to determine and analyze the factors that influence the value of the company with corporate social responsibility as a moderating variable. This research was conducted in the mining sector, considering that mining operations are closely related to the environment. The sample used by the researcher is as many as 17 mining sector companies listed on the IDX. The data analysis technique uses path analysis, where previously the classical assumption test has been carried out, and the data has met the classical assumption test requirements. The results showed that profitability had an insignificant negative effect on firm value, firm size had no significant positive effect on firm value. Furthermore, the results showed that the CSR variable was not able to moderate the effect of profitability or firm size on firm value.

 

 

 

Abstrak: Penelitian ini bertujuan untuk mengetahui dan menganalisis faktor-faktor yang mempengaruhi nilai perusahaan dengan CSR sebagai variabel moderasi. Penelitian ini dilakukan pada sektor pertambangan, mengingat operasional pertambangan sangat berkaitan erat dengan lingkungan. Sampel yang digunakan peneliti adalah sebanyak 17 perusahaan sektor pertambangan yang terdaftar di BEI. Teknik analisis data menggunakan analisis path, dimana sebelumnya telah dilakukan uji asumsi klasik, dan data telah memenuhi syarat uji asumsi klasik. Hasil penelitian menunjukkan profitabilitas berpengaruh negatif tidak signifikan terhadap nilai perusahaan, ukuran perusahaan berpengaruh positif tidak signifikan terhadap nilai perusahaan. Selanjutnya, hasil penelitian menunjukkan variable CSR tidak mampu memoderasi pengaruh profitabilitas ataupun ukuran perusahaan terhadap nilai perusahaan.

References

[1] N. M. I. Wulandari and I. G. B. Wiksuana, “Peranan Corporate Social Responsibility Dalam Memoderasi Pengaruh Profitabilitas, Leverage, dan Ukuran Perusahaan terhadap Nilai Perusahaan,” E-Jurnal Manaj. Unud, vol. 6, no. 3, pp. 1278–1311, 2017, [Online]. Available: https://ojs.unud.ac.id/index.php/Manajemen/article/view/27466/17920.
[2] M. Markonah, A. Salim, and J. Franciska, “EFFECT OF PROFITABILITY, LEVERAGE, AND LIQUIDITY TO THE FIRM VALUE,” Dinasti Int. J. Econ. Financ. Account., vol. 1, no. 1, pp. 83–94, 2020, doi: 10.31933/DIJEFA.
[3] N. P. K. Dewi and N. Abundanti, “PENGARUH LEVERAGE DAN UKURAN PERUSAHAAN SEBAGAI VARIABEL MEDIASI,” E-Jurnal Manaj., vol. 8, no. 5, pp. 3028–3056, 2019, doi: https://doi.org/10.24843/EJMUNUD.2019.v08.i05.p16.
[4] N. K. Raningsih and L. G. S. Artini, “PENGARUH PROFITABILITAS TERHADAP NILAI PERUSAHAAN DENGAN CORPORATE SOCIAL RESPONSIBILITY SEBAGAI,” E-Jurnal Ekon. dan Bisnis Univ. Udayana, vol. 8, no. 7, pp. 1997–2026, 2018, [Online]. Available: https://ojs.unud.ac.id/index.php/EEB/article/view/37727.
[5] D. P. Ayu and G. A. . Suarjaya, “PENGARUH PROFITABILITAS TERHADAP NILAI PERUSAHAAN DENGAN CORPORATE SOCIAL RESPONSIBILITY SEBAGAI VARIABEL MEDIASI PADA PERUSAHAAN PERTAMBANGAN,” E-Jurnal Manaj. Unud, vol. 6, no. 2, pp. 1112–1138, 2017, [Online]. Available: https://ojs.unud.ac.id/index.php/Manajemen/article/view/27825/17741.
[6] I. G. N. A. . Pramana and I. K. Mustanda, “PENGARUH PROFITABILITAS DAN SIZE TERHADAP NILAI PERUSAHAAN DENGAN CSR SEBAGAI VARIABEL PEMODERASI,” E-Jurnal Manaj. Unud, vol. 5, no. 1, pp. 561–594, 2016, [Online]. Available: https://ojs.unud.ac.id/index.php/Manajemen/article/view/17586/11545.
[7] A. H. Mukti and B. S. Winarso, “Jurnal REKSA : Rekayasa Keuangan , Syariah , dan Audit,” J. REKSA Rekayasa Keuangan, Syariah, dan Audit, vol. 07, no. 01, pp. 25–36, 2020, [Online]. Available: http://journal2.uad.ac.id/index.php/reksa/article/view/2264.
[8] G. S. Imron, R. Hidaya, and S. Alliyah, “PENGARUH KINERJA KEUANGAN DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN DENGAN CORPORATE SOSIAL RESPONSIBILITY DAN GOOD CORPORATE GOVERNANCE SEBAGAI VARIABEL MODERASI Galih Syaiful Imron, Riskin Hidayat, Siti Alliyah,” POTENSIO, vol. 18, no. 2, pp. 82–93, 2013, [Online]. Available: http://www.journal.stie-yppi.ac.id/index.php/potensio/article/viewFile/52/49.
[9] E. Akben-Selcuk, “Corporate social responsibility and financial performance: The moderating role of ownership concentration in Turkey,” Sustain., vol. 11, no. 13, 2019, doi: 10.3390/su11133643.
[10] J. Lu, L. Ren, S. Yao, J. Qiao, A. Mikalauskiene, and J. Streimikis, “Exploring the relationship between corporate social responsibility and firm competitiveness,” Econ. Res. Istraz. , vol. 33, no. 1, pp. 1621–1646, 2020, doi: 10.1080/1331677X.2020.1761419.
[11] K. H. Kim, M. C. Kim, and C. Qian, “Effects of Corporate Social Responsibility on Corporate Financial Performance: A Competitive-Action Perspective,” J. Manage., vol. 44, no. 3, pp. 1097–1118, 2018, doi: 10.1177/0149206315602530.
[12] L. Liao, T. P. Lin, and Y. Zhang, “Corporate Board and Corporate Social Responsibility Assurance: Evidence from China,” J. Bus. Ethics, vol. 150, no. 1, pp. 211–225, 2018, doi: 10.1007/s10551-016-3176-9.
[13] D. Sutopo, A. Rokhmawati, and Andreas, “Pengaruh Good Corporate Governance (GCG), Leverage, dan Profitabilitas terhadap Nilai perusahaan dengan Corporate social Responsibility (CSR) sebagai variabel mediasi,” J. Tepak Manaj. Bisnis, vol. 10, no. 4, pp. 695–719, 2018, [Online]. Available: https://docplayer.info/208254936-Dian-sutopo-1-andewi-rokhmawati-2-andreas-3-mahasiswa-program-pasca-sarjana-manajemen-universitas-riau-2-3.html.
[14] V. Apriliyanti, H. Hermi, and V. Herawaty, “Pengaruh Kebijakan Hutang, Kebijakan Dividen, Profitabilitas, Pertumbuhan Penjualan Dan Kesempatan Investasi Terhadap Nilai Perusahaan Dengan Ukuran Perusahaan Sebagai Variabel Moderasi,” J. Magister Akunt. Trisakti, vol. 6, no. 2, p. 201, 2019, doi: 10.25105/jmat.v6i2.5558.
[15] Ş. C. Gherghina and G. Vintilă, “Exploring the impact of corporate social responsibility policies on firm value: The case of listed companies in Romania,” Econ. Sociol., vol. 9, no. 1, pp. 23–42, 2016, doi: 10.14254/2071-789X.2016/9-1/2.
[16] S. K. Sumarau, “THE EFFECT OF INVESTMENT DECISIONS, FUNDING DECISIONS, AND PROFITABILITY ON MANUFACTURING COMPANY VALUE IN INDONESIA STOCK EXCHANGE 2015-2018 PERIOD,” Account. J., vol. 8, no. 02, pp. 85–90, 2019, [Online]. Available: https://ejournal.unsrat.ac.id/index.php/accountability/article/view/24759/24470.
Published
2022-01-28