International Journal of Research in Business and Social Science

Yazarlar: Dien Ajeng Fauziah, Eko Ganis Sukoharsono, Erwin Saraswati

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Özet: This research aims to investigate and analyze the effect of corporate social responsibility disclosure on firm value, either directly or indirectly, by involving innovation as a mediator. This study uses secondary data on manufacturing companies listed on the Indonesia Stock Exchange for a period of four years from 2015 to 2018. The sample selection method uses the purposive sampling method with several criteria to produce 104 companies as the research sample so there are 416 observations. The analysis technique used is a simple and multiple linear regression analysis technique using the STATA 13 application as well as the Sobel Test for mediation tests. The results of this study provide empirical evidence that both in quality and quantity corporate social responsibility disclosure has an effect on increasing firm value. The results also show that corporate social responsibility disclosure cannot increase firm value through innovation due to a lack of research and development activity in most manufacturing companies because research and development activities require a long time and process as well as ineffective patent protection. Innovation has an insignificant effect on firm value due to the high cost of research and development can have an impact on large costs that reduce profits. However, innovation can be increased by corporate social responsibility disclosure, which means investing in corporate social responsibility disclosure can indirectly encourage the development of innovative product and process activities in the company. Innovation becomes a partial mediation variable so that innovation works partially in mediating between corporate social responsibility disclosure and firm value.

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