The role of profitability in moderating the relationship between CSR and company value among issuers on the Indonesia Stock Exchange
Keywords:
Corporate Social Responsibility, nilai perusahaan, profitabilitasAbstract
The emergence of various environmental pollution phenomena that cause losses to communities around industrial areas shows that some companies still have low awareness of environmental sustainability. This condition highlights the importance of implementing corporate social responsibility (CSR) as a form of corporate commitment to creating a balance between economic, social, and environmental goals. This study aims to analyze the effect of CSR on company value with profitability as a moderating variable. A quantitative approach was used, utilizing secondary data obtained from companies' annual reports and sustainability reports. The research population includes 138 consumer goods companies listed on the Indonesia Stock Exchange (IDX) for the period 2021–2024. The sample selection was conducted using purposive sampling based on the criteria of data completeness and involvement in CSR reporting, resulting in 34 companies as the research sample. The analysis technique used was multiple linear regression analysis with a Moderated Regression Analysis (MRA) test to determine the extent to which profitability strengthens or weakens the relationship between CSR and company value. The results of this study are expected to contribute theoretically to the development of literature on CSR and company value, as well as provide practical implications for company management in optimizing social responsibility activities as a strategy to increase company value and reputation in the eyes of investors and the public.
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