TY - JOUR
T1 - The Effect of Corporate Social Responsibility Disclosure to Firm Value with Risk Management as Moderating Variable
AU - Wirawan, Anan Werdie
AU - Falah, Laila Jahidatul
AU - Kusumadewi, Lydia
AU - Adhariani, Desi
AU - Djakman, Chaerul D.
N1 - Funding Information:
We gratefully acknowledge the financial support from PITTA Grant, Universitas Indonesia for the publication of this paper.
Publisher Copyright:
© 2020, © 2020 Taylor & Francis Group, LLC.
PY - 2020/4/2
Y1 - 2020/4/2
N2 - 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.
AB - 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.
KW - Corporate social responsibility
KW - corporate social responsibility disclosure
KW - firm value
KW - risk management
UR - http://www.scopus.com/inward/record.url?scp=85082420464&partnerID=8YFLogxK
U2 - 10.1080/10599231.2020.1745051
DO - 10.1080/10599231.2020.1745051
M3 - Article
AN - SCOPUS:85082420464
SN - 1059-9231
VL - 21
SP - 143
EP - 160
JO - Journal of Asia-Pacific Business
JF - Journal of Asia-Pacific Business
IS - 2
ER -
