Analisis Corporate Social Responsibility (CSR) Terhadap Return Saham dan Nilai Perusahaan dengan Good Corporate Governance (GCG) Sebagai Pemoderating

Abstract

The implementation of social responsibility has been widely applied to various types of companies including profit-based manufacturing companies. This is because the implementation of corporate social responsibility (CSR) is able to influence the performance of the company. Through corporate social activities, making the name of the company can be great in the eyes of the wider community. This research was conducted with the aim of obtaining results or output empirically to test the effect of corporate social responsibility (CSR) on stock returns and the value of companies with good corporate governance as moderating. This research examines companies engaged in manufacturing that have been registered with the Indonesia Stock Exchange (IDX) for the 2015-2017 period. A total of 539 manufacturing companies were used as populations with purposive judgment sampling as a sampling method. The indicator used to measure Corporate Social Responsibility variables is using the Sustainability Reporting Guidelines (SRG) method by the Global Reporting Initiative (GRI) as its issuer. And for the proxy of the Good Corporate Governance variable, it uses managerial ownership. Managerial ownership is acting as a management who actively participates in decision making and also as a shareholder in the company, and the measurements made for company value variables are using the Tobin's Q index. The data analysis technique used in the study is multiple regression analysis hypothesis testing using SPSS version 24. The method used in this research is the documentation method carried out by collecting secondary data published by the company on the Indonesia Stock Exchange in the form of annual reports which include financial statements of manufacturing companies in 2015-2017. Secondary data collection is done by tracing data through literature and manuals on the Indonesia Stock Exchange (IDX). This research is a quantitative study with a correlational analysis method to examine the effect of independent variables on the dependent variable.