The Effect of Corporate Social Responsibility Disclosure to Firm Value with Risk Management as Moderating Variable

Anan Werdie Wirawan, Laila Jahidatul Falah, Lydia Kusumadewi, Desi Adhariani, Chaerul D. Djakman

Research output: Contribution to journalArticle

Abstract

The aim of this paper is to obtain empirical evidence related to the influence of corporate social responsibility (CSR) disclosure on firm value and to examine the effects of risk management on the same. Items related to disclosure of CSR and nonfinancial data are obtained from annual reports of manufacturing companies as listed on the Indonesian Stock Exchange and the companies’ respective websites. Financial data was obtained from Thomson Reuters Eikon. Hypothesis testing was conducted using panel data regression analysis. Based on the 130 sampled companies during the period 2014–2016, we found that CSR disclosures can increase firm value. Interestingly, risk management applied by the company does not help maximize value, because is not presented comprehensively. Thus, it does not help investors make investment decisions.

Original languageEnglish
JournalJournal of Asia-Pacific Business
DOIs
Publication statusAccepted/In press - 1 Jan 2020

Keywords

  • Corporate social responsibility
  • corporate social responsibility disclosure
  • firm value
  • risk management

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