Effects of Corporate Social Responsibility and Managerial Ownership on Corporate Value

Evidence from Consumer Goods Companies Listed on Indonesian Stock Exchange during 2015-2019

Authors

  • Indrayati Universitas Merdeka Malang, Indonesia

DOI:

https://doi.org/10.31695/IJASRE.2020.33916

Keywords:

Corporate Social Responsibility, Managerial Ownership , Corporate Value

Abstract

This research aimed to determine the effect of Corporate Social Responsibility and Managerial Ownership on Corporate Values simultaneously or partially. Data were collected using a purposive sampling method on manufacturing companies in the consumer goods industry sector listed on the IDX during 2015-2019. The population covered 34 companies, 24 of which were chosen as the samples due to meeting the specified criteria. Corporate Social Responsibility in this research was calculated by Corporate Social Disclosure Index while management ownership was obtained by knowing the percentage of share ownership by boards of managers. Corporate values in this research were calculated by the value of Tobin's Q. The results of this research indicate that Corporate Social Responsibility and Management Ownership simultaneously did not affect corporate values. However, partially, Corporate Social Responsibility had a positive effect on corporate values while managerial ownership did not affect corporate values.

References

Nurlela, R. dan Islahuddin. 2008. “Pengaruh Corporate Social Responsibility TerhadapNilai Perusahaan denganProsentaseKepemilikanManajemenSebagaiVariabel Moderating”.ProsidingSimposiumNasionalAkuntansi XI. Pontianak.

Tobin, Prof. James. 1967.” Tobin’s Q Ratio As An Indicator of the valuation of the company”. Journal of Financial Economics, Vol LIII, No.3: June, pp. 287 – 298.

Herawaty. 2006. “PraktekPengungkapanSosialPadaLaporanTahunan Perusahaan di Indonesia”. Proceedings Simposium Nasional Akuntansi 3.

Copeland, T.E. Weston J.F. 2002. “Financial Theory and Corporate Policy, 3rd edition”. Addison-Wesley Publishing Company.

Darmawati, Deni, Khomsiyah, dan Rika GelarRahayu, 2004, “Hubungan Corporate Governance danKinerja Perusahaan”,SimposiumNasionalAkuntansi VII, Denpasar.

Anggraini, Fr. Reni Retno. 2006. “PengungkapanInformasiSosialdanfaktor-Faktor yang MempengaruhiPengungkapanInformasiSosialdalamLaporanTahunan (StudiEmpirispada Perusahaan- Perusahaan yang Terdaftar di BEJ)", SimposiumNasionalAkuntansi 9, Padang, 23-26 Agustus.

Sugiono, Arief. 2009. “ManajemenKeuangan”. Jakarta: Penerbit PT. Gramedia

Aaker, A. David. 2008. “ManajemenEkuitasMerek”. AlihbahasaolehAris Ananda. Jakarta: MitraUtama.

Wibisono. 2007. “MembedahKonsepdanAplikasi Corporate Social Responsibility”. Surabaya: Media Grapka.Widiasarana Indonesia. Hal: 113.

Kartika,Andi.2010. “PengaruhKomitmenOrganisasidanKetidakpastianLingkungandalamHubungan

TataPartisipasiAnggarandenganSenjanganAnggaran”. KajianAkuntansi, Vol. 2 No. 1.

KeuangandanNilai Perusahaan”. SimposiumNasionalAkuntansi XI, Pontianak.

Wahidawati. 2002. “PengaruhKepemilikanManajerialdanKepemilikanInstitusionalpadaKebijakanHutang

Perusahaan: SebuahPerspektif Theory Agency.”JurnalRisetAkuntansi Indonesia, Vol. 5, No. 1, h. 1-16

Junaidi,MuhammadAR. 2006,“PengaruhKepemilikanManajemendanKebijakanHutangTerhadapKinerjaKeuangan Perusahaan Manufaktur yang Terdaftar di BEJ”. Thesis, Unsyiah.

Jensen, M. C and W.HMeckling. 1976. “Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure". Journal of Financial Economics, Oktober, 1976, V. 3, No. 4, pp. 305-360.

Raja, AdriSatriawan Surya. 2012.“AkuntansiKeuanganVersi IFRS+”. edisi 1.Yogyakarta :GrahaIlmu.

Zuhroh,Diana dan I PutuPandeHeriSukmawati. 2003. “Perusahaan AnalisisPengaruhLuas

PengungkapanSosialDalamLaporanTahunanTerhadapReaksi Investor (StudiKasusPada

Perusahaan – Perusahaan High Profile di BEJ)”. SimposiumNasionalAkuntansiVI Surabaya.

Sembiring,ER.2005.“Karakteristik Perusahaan danPengungkapanTanggungjawabSosial:Study EmpirispadaPerusahaan yang TercatatdiBursaEfek Jakarta”. SimposiumNasionalAkuntansi VIII.

Diyah, PujiatidanErman, Widanar. 2009. “PengaruhStrukturKepemilikanTerhadapNilai Perusahaan: KeputusanKeuanganSebagaiVariabel Intervening”. JurnalEkonomi,BisnisdanAkuntansi Ventura. Vol 12 No. 1. Hal : 71-86.

Haruman, Tendi. 2008. “PengaruhStrukturKepemilikanTerhadapKeputusanKeuangandanNilai Perusahaan”.ProsidingSimposiumNasionalAkuntansi XI. Pontianak. Makasar 27 November.

Suranta, Eddy danMedistutiPranata. 2004. “Income Smoothing, Tobin’s Q, Agency Problem danKinerja Perusahaan”. Denpasar-Bali : SNA VII.

Murwaningsari, Etty. 2009. “Hubungan Corporate Governance, Corporate Social Responsibility dan Corporate Financial Performance DalamSatu Continuum”. JurnalAkuntansidanKeuanganVol : I.

Downloads

How to Cite

Indrayati. (2020). Effects of Corporate Social Responsibility and Managerial Ownership on Corporate Value: Evidence from Consumer Goods Companies Listed on Indonesian Stock Exchange during 2015-2019. International Journal of Advances in Scientific Research and Engineering (IJASRE), ISSN:2454-8006, DOI: 10.31695/IJASRE, 6(10), 126–137. https://doi.org/10.31695/IJASRE.2020.33916

Issue

Section

Articles