Rahma Rahma, Dewi Pebriyani

Pengaruh Kualitas Pengungkapan Corporate Social Responsibiliy terhadap Nilai Perusahaan dengan Kepemilikan Asing sebagai Variabel Moderasi: Studi Empiris pada Perusahaan Pertambangan yang Terdaftar di BEI Periode 2021 - 2024

Introduction

Pengaruh kualitas pengungkapan corporate social responsibiliy terhadap nilai perusahaan dengan kepemilikan asing sebagai variabel moderasi: studi empiris pada perusahaan pertambangan yang terdaftar di bei periode 2021 - 2024. Penelitian analisis kualitas pengungkapan CSR dan nilai perusahaan, dimoderasi kepemilikan asing, di perusahaan tambang BEI (2021-24). Kepemilikan asing positif moderasi.

Abstract

This study examines the effect of corporate social responsibility (CSR) disclosure quality on firm value, with foreign ownership as a moderating variable. The study focuses on mining companies listed on the Indonesia Stock Exchange during the 2021–2024 period. Using purposive sampling, 25 companies were selected, resulting in 100 firm-year observations, and analyzed using moderated regression analysis (MRA). The findings indicate that CSR disclosure quality has a negative and significant effect on firm value, suggesting that higher CSR reporting quality may not be appreciated by the market and may even be perceived as a cost. However, foreign ownership positively moderates this relationship, suggesting that the presence of foreign investors strengthens governance and transforms CSR reporting into a long-term value creation mechanism. These results contribute to the literature by integrating CSR disclosure quality as measured by the GRI Standards with foreign ownership, a rarely examined approach in the Indonesian mining sector. Future studies are recommended to expand the cross-sector scope and complement the quantitative analysis with qualitative approaches.

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