Abstract
Nowadays, companies need to carry out environmental conservation activities. CSR activities and environmental disclosure are closely related to environmental preservation. So, the purpose of this study is to examine the effect of CSR implementation on environmental disclosure and the effect of environmental disclosure on firm value. The population used is the entire sector of companies listed on the IDX. The number of samples in this study was 31 companies in accordance with the 2021 sample selection criteria. The data collection technique of this research is purposive sampling. This study uses a simple linear regression method using SPSS 21. The result of this study is that CSR implementation has a positive effect on environmental disclosure. This result means that the more CSR implementation, the more disclosure in the sustainability report. Meanwhile, environmental disclosure has a negative effect on firm value. This negative effect means that more disclosure actually reduces the value of the company. These results prove that impression management theory is influential in supporting the hypothesis compared to stakeholder theory. Keywords: Implementations CSR, Environmental Disclosure, Firm Value. Abstrak Perusahaan pada masa sekarang penting untuk melakukan kegiatan pelestarian lingkungan hidup. Kegiatan CSR dan environmental disclosure sangat berkaitan dengan pelestarian lingkungan hidup. Tujuan penelitian ini adalah menguji pengaruh penerapan CSR terhadap environmental disclosure, dan pengaruh environmental disclosure terhadap nilai perusahaan. Populasi yang digunakan yaitu seluruh sektor perusahaan yang terdaftar di BEI. Jumlah sampel pada penelitian ini yaitu 31 perusahaan sesuai dengan kriteria pemilihan sampel tahun 2021. Teknik pengambilan data dari penelitian ini yaitu purposive sampling. Penelitian ini menggunakan metode regresi linear berganda menggunakan bantuan SPSS 21. Hasil dari penelitian ini yaitu penerapan CSR berpengaruh positif terhadap environmental disclosure. Artinya semakin banyak melakukan penerapan CSR maka semakin mengungkapkan dalam laporan keberlanjutan. Sedangkan, environmental disclosure berpengaruh negatif terhadap nilai perusahaan. Artinya, semakin banyak pengungkapan justru menurunkan nilai perusahaan. Hasil ini membuktikan bahwa teori manajemen impresi berpengaruh dalam mendukung hipotesis dibandingkan teori stakeholder. Kata Kunci: Penerapan CSR, Environmental Disclosure, Nilai Perusahaan.
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