Pengaruh Corporate Governance dan Pengungkapan Corporate Social Responsibiity terhadap Nilai Perusahaan

Deby Nailatun Fitriyah; Nurmadi Harsa Sumarta

doi:10.30640/ekonomika45.v13i1.5591

Authors

Deby Nailatun Fitriyah Universitas Sebelas Maret
Nurmadi Harsa Sumarta Universitas Sebelas Maret

DOI:

https://doi.org/10.30640/ekonomika45.v13i1.5591

Keywords:

Company Value, CSR Disclosure, Dimensions Of Corporate Governance, Independent Commissioners, Managerial Ownership

Abstract

This study aims to explore the influence of corporate governance (Corporate Governance) and social responsibility (CSR) disclosure on the value of state-owned enterprises (SOEs) listed on the Indonesia Stock Exchange from 2019 to 2023. Nineteen business entities were purposively selected, considering specific selection criteria, using secondary data obtained from annual reports and sustainability reports. The analytical methodology used was multiple linear regression. The Corporate Governance dimension was operationalized through the ratio of independent commissioners and the portion of managerial ownership, while CSR disclosure indicators were compiled based on the 2021 edition of the GRI framework. Research findings indicate that the presence of independent commissioners does not significantly impact company value. Conversely, managerial ownership structure shows a significant positive effect. Conversely, CSR information disclosure actually shows a negative correlation with the value of the companies concerned. This suggests that although CSR disclosure aims to increase transparency and accountability, too much information can lead to negative perceptions from investors, which affects the assessment of company value.

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