Abstract
<p><em>The company operational activities </em><em>are </em><em>performed with the purpose to maximize shareholder value</em><em>s; however,</em><em> the company's activities have impacts on environment, social, economi</em><em>y</em><em> and community. </em>In order to comply with the government regulation, companies must conduct Corporate Social Responsibility<em> (CSR), because investors are more interested in companies </em><em>which </em><em>have a good image in the community</em><em>. This leads to</em><em> make consumer loyalty</em><em> higher</em><em> and subsequently increas</em><em>es</em><em> the company's profitability and company's stock value</em><em>s</em><em>. The purpose of this study was to analyze the influence of CSR disclosure on Corporate Financial Performance (CFP) and stock prices. This study used 20 samples of property companies in the Indonesia’s Stock Exchange selected by purposive sampling. </em><em>Data were p</em><em>rocess</em><em>ed</em><em> and analy</em><em>zed</em><em> us</em><em>ing</em><em> Structural Equation Modeling (SEM) with software smartPLS. This research show</em><em>s that</em><em> valid indicator</em><em>s</em><em> measure CSR at property sector </em><em>include </em><em>environment, human rights and society. A valid indicator measur</em><em>ing</em><em> </em><em>financial performance construct</em><em> is</em><em> only Market Value Added (MVA) and stock return </em><em>is the</em><em> valid indicator</em><em> to</em><em> measure stock price construct. The hypothesis test shows that CSR disclosure </em><em>had</em><em> significant effect on CFP,</em><em> but</em><em> the CSR disclosure </em><em>had</em><em> no significant effect</em><em>s</em><em> on stock price</em><em>,</em><em> and CFP </em><em>had</em><em> no significant effect</em><em>s</em><em> on stock prices.</em></p><em>Keywords </em><em>: corporate social responsibility, financial performance, stock price, property sector</em>
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